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Outlining its plan to deal with the mounting problem of banks' bad loans, the Reserve Bank of India (RBI) on Monday said it will reconstitute the oversight committee (OC) to operationalise the banking ordinance for resolving the issue of non-performing assets (NPAs).   "It has been...

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Moneylife Digital Team 17 May 2017
Here is good news for new borrowers of home loans as they can now get lower interest rates, with several lenders having reduced the rates. However, for existing borrowers on floating rate basis, there is no immediate respite, as they will have to wait for the next reset date for the marginal...

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Mumbai, The mounting problem of bad loans of banks cannot be resolved by their simple recapitalisation and options like raising private capital for state-run banks need to be considered to deal with the issue, the RBI said on Friday.   "I wish to propose that we deal with the ailing...

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Moneylife Digital Team 19 January 2017
HDFC Ltd, one of the largest housing finance company, on Thursday announced a 15 basis points (bps) reduction in its retail prime lending rate (RPLR). This reduction would benefit all existing customers, the lender said.   For all new home loans of up to Rs75 lakh, interest rates for...

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Abhirup Ghosh 05 August 2016
The Pradhan Mantri Awas Yojana (PMAY)– Housing for All aims at addressing the shortage of 20 million slum and non-slum urban poor households, by 2022. Under the PMAY, central assistance will be provided to the Urban Local Bodies (ULB) and other implementing agencies through union territories...

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Bengaluru: Outgoing Reserve Bank of India Governor Raghuram Rajan on Wednesday said that education loans should be made flexible to the borrower.   "What a number of banks are finding is that some of the education loan borrowers are not paying back, default rate is picking up," said...

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Jason Monteiro Jason Monteiro  and   Niraj Prajapati 23 June 2016
Indians love gold and even the poorest Indian tries to acquire the smallest trinket that doubles up as jewellery and long-term savings. Naturally, television advertisements featuring movie superstars who tell you how easy it is to borrow money against that carefully accumulated gold, touch an...

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Moneylife Digital Team 20 May 2016
Moneylife Foundation, a non-governmental organisation (NGO) with over 39,000 members, has requested the Reserve Bank of India (RBI) to provide clarity on defaults recorded by credit information companies (CICs), proper dispute resolution mechanism for credit reports, score and history and...

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Moneylife Digital Team 10 November 2015
A sudden decline in home loan rates as a result of base rate cut by the RBI has boosted the sentiment in the Indian real estate sector, says Liases Foras in a research note   The performance of the Indian real estate sector during the second quarter as been encouraging and reflects an...

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A dedicated web portal has been launched for the students to access all kinds of educational loans and government scholarships, an official statement said on Thursday.   The portal - www.vidyalakshmi.co.in - was launched by the finance ministry, the human resource development ministry...

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Moneylife Digital Team 14 April 2015
ICICI Bank, India's largest private sector lender, said it cut interest rates on home loan by 25 basis points or by 0.25% for all its existing and new borrowers.   "With this announcement, women as well as applicants from weaker sections will get home loans at 9.85%. The rate will be...

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Yogesh Sapkale Yogesh Sapkale 27 February 2015
If the RBI raises interest rates, your home loan rate goes up. But when RBI cuts rates, your rates don’t go down. Why?   Whenever RBI announces an increase in its monetary policy rates, housing loan-providers, such as banks and finance companies, are quick to hike interest rates....

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Moneylife Digital Team 11 February 2015
Remember Credit Sudhaar, the firm that used to charge money for improving one’s credit score? It is now claiming to provide ‘free credit score’ that too when neither CIBIL nor Experian India nor Equifax gives free credit report    Credit Sudhaar Services Private Ltd, the so-called...

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Moneylife Digital Team 12 January 2015
Seven years after he settled a loan, a borrower is being subjected to numerous calls, notices and even arrest warrant. The only mistake, he committed was not to collect the NOC and account statement from the lender after his settlement    Mumbai-based trader Ramnik Patel (name...

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Moneylife Digital Team 23 December 2014
With the new product, a customer can avail a home loan at an interest rate that remains fixed for a duration of 2 years to 10 years and thereafter the loan switches automatically to HDFC's adjustable rate home loan (ARHL)   Mortgage lender HDFC launched a fixed interest rate home loan...

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Moneylife Digital Team 23 January 2014
The typical US worker near retirement has only two years of replacement income Lessons learnt from the United States, and elsewhere, provide us with valuable insights on personal money management. Yet, often, many ignore such lessons and, worse, repeat mistakes. A recent survey by...

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Moneylife Digital Team 19 December 2013
SBI's revised EMI for loan tenure of 30 years will be Rs885 for women and Rs889 for others against the prevailing EMI of Rs900 per lakh State Bank of India (SBI), the country's largest lender on Thursday announced a separate interest rate structure for woman home loan borrowers. SBI also...

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Moneylife Digital Team 06 November 2013
With SBI, the country's largest bank, increasing its base rate, other state-run lenders may also go in for a hike in lending rates Taking a cue from HDFC Bank, the country's largest lender State Bank of India (SBI) has hiked its base rate by 20 basis points or 0.2% to 10% from 9.8%. The...

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Moneylife Digital Team 19 September 2013
SBI has increased deposit rates to 7.5% from 6.5% for deposits below Rs1 crore for maturity between seven to 179 days and 211 days to less than a year State Bank of India (SBI), the country's largest lender, has hiked its base rate by 10 basis points (bps) to 9.8% from 9.7% and also...

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Sucheta Dalal Sucheta Dalal 16 September 2013
Debt doctors play a useful role as long as they don’t scare the borrower into signing up and claim a ‘nexus’ with CIBIL to be able to‘fix’ credit records to remove the defaulter tag A retired banker told us that Indians do not really want to default on loan repayments. But they are...

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