- 27 Apr 1603:08 PMThe standard procedure to obtain a retail loan from banks involves obtaining a credit score, which helps banks decide whether or not to approve a loan proposal.
- 26 Apr 1601:59 PMThe rise in credit card outstandings in itself is not so much of a worry as much as two accompanying factors.
- 25 Apr 1603:18 AMDOs Make payments on time. If there are overdue payments, settle these by working with the lender concerned.
- 22 Apr 1612:22 AMOverall retail lending delinquencies (90 days overdue) stood at 1.52 per cent for the entire portfolio at the end of 2015, according to the Equifax’s India Consumer Credit Trends.
- 18 Apr 1603:10 AMMumbai-based musician Manoj Raikar was shopping online for ceramic knives. A set of four was available at half the price on international websites compared to Indian online retailers. Surprised, he checked the shipping cost. It was free.
- 11 Apr 1603:09 AMThe new financial year has started on a good note for borrowers with, several banks cutting lending rates, thanks to adoption of the marginal cost of lending rate (MCLR). This led to a reduction in home, automobile and personal loan rates at many banks.
- 06 Apr 1611:00 AMThe Reserve Bank of India (RBI) has cut repo rates by 150 basis points (bps) in the past 14 months, including a 25-bp cut on Tuesday. However, borrowers are yet to get substantial benefit from banks. The transmission, at best, has been 50-60 bps.
- 30 Mar 1612:30 PMStarting April 1, the way home, auto or any other floating rate retail loan is calculated will change. It will now be linked to the Marginal Cost of Funds based Lending Rate (MCLR) instead Base Rate.
- 03 Mar 1607:48 PMBuying petrol, booking train tickets online and paying utility bills are set to become cheaper with the Union Cabinet approving a proposal to withdraw the surcharge/service charge or convenience fee on digital payments.
- 01 Mar 1610:40 PMFinance Minister Arun Jaitley brought cheer to first-time home buyers by offering an additional deduction of Rs 50,000 on interest repayment under Section 80EE.
- 21 Feb 1603:32 AMTraditionally, people went to their neighbourhood bank if they wanted to rent a safe deposit locker. But, now non-banking finance companies (NBFCs) have also received permission to offer this facility.