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RBI's Frictionless Credit Platform Disburses Over Rs 1,400 Crore in Loans

The Reserve Bank of India's (RBI) frictionless credit platform has disbursed over Rs 1,400 crore in loans since its launch on August 17. Around 20,000 central bank digital currency transactions are taking place on a daily basis right now....

Boost Your Credit Score in 2023: A Citizens Guide

A credit score is a critical financial tool that lenders use to assess an individual's creditworthiness. In India, a good credit score can give you access to better interest rates and terms on loans and credit cards, whereas a poor credit ...

40-50% Rise In Loan Applications,15% More Jobs; This Festive Season Seen To Be Economy Powerhouse

The festive season between September to December 2023 is likely to be an economy powerhouse with the banking sector expected to witness a robust spike in loan applications and disbursals. Furthermore, 15% more jobs are estimated! Not just that sectors like ...

'Easy Money' Alert: Dangers Lurking Behind Loans on Mutual Funds!

Introduction to Loans Against Mutual Funds In India, it's not uncommon for investors to seek loans against their mutual funds. This practice provides an alternative source of financing and can be more affordable than other forms of credit. However, like any ...

How To Get The Maximum Tax Benefits From Leveraging Different Loans?

Loans are a powerful facilitator of finance that empowers individuals to transform their aspirations into tangible accomplishments. Whether it is for purchasing a dream home, buying a vehicle, or starting a business, this financial instrument can act as a vital enabler. ...

How Can NRI HNIs Leverage Loans Against The Assets They Hold In India?

NRI represents the cream de la crème crowd of India - Just after COVID we clocked 32 million NRIs. The total wealth accumulation for the NRIs all over the world is nearly 1.5 trillion dollars. India also became the first country ...

Muthoot Microfin Debuts digital-first Suvidha Loan For Instant Disbursal In 30 Mins

One of the top microfinance organisations in India, Muthoot Microfin Limited, has introduced instant digital loan initiative with the 'Suvidha Loan' programme allows users to apply for a loan and receive an amount between INR 10,000 and INR 30,000 within 30 ...

RBI Imposes Rs 2.92 Crore Penalty On Canara Bank

The Reserve Bank of India on Friday said it has imposed a penalty of Rs 2.92 crore on Canara Bank for violation of various norms, including linking interest rates to external benchmark, and opening savings accounts of ineligible entities. The Reserve ...

How A Fed Increase Could Affect Credit Card Debt, Auto 'Loans'

As expected, the Federal Reserve has raised its key interest rate yet again in its drive to cool inflation, a move that will directly affect most Americas. On Wednesday, the central bank boosted its benchmark rate by a quarter-point to 5.1%. ...

Housing Loans Rise 15 Per Cent Despite High-Interest Rates

Housing loans outstanding rose 15 per cent year-on-year to a record Rs 19.36 lakh crore at March-end, notwithstanding the Reserve Bank's rate hike spree since May last year, showed central bank data released on Friday. The housing loan outstanding at March-end ...

Credit Growth Likely To Moderate To 10 Per Cent In FY24: Report

The credit growth momentum is waning in the country and the crucial non-food loans growth is expected to slip to 10 per cent in FY24 from more than 15 per cent in FY23, a Japanese brokerage said on Monday. Ebbing inflationary ...

Higher Interest Rate Increases Repayment Amount, Limits Refinancing Options For SME Borrowers: Moody's

Moody's Investors Service on Monday said higher interest rates have increased repayment amounts and limited refinancing options for SME borrowers who have availed loans against property, heightening default risk for these loans. "Even if the RBI were to keep rates on ...

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