Loan Rates

Cong govt spent Rs 11,200 cr on loan interest, says Himachal CM Sukhu

The present Congress government has taken Rs 28,000 crore loan in the past two years out of which over Rs 11,200 crore was spent to pay interest on loan taken by the previous governments since 1971, Himachal Pradesh Chief Minister Sukhvinder Singh Sukhu said on Wednesday. He also said that Rs 7,800 was spent on repaying the principal amount of loan while Rs 9,000 crore on development. Speaking at a programme to mark completion of two years of Congress government in office in Bilaspur, Sukhu said that this is not a celebration "It is just a programme and we would celebrate when Himachal Pradesh becomes self-reliant in 2027," he said. The chief minister reiterated the challenges of financial crunch, worst monsoon disaster in 2023 and "political conspiracy" leading to bypolls on nine assembly seats faced by the Congress government in the past two years. Sukhu said that 75,000 tourists were rescued during the monsoon disaster last year. "I am aware of the Union government's step-moth

Microlenders under RBI lens for 'netting off' loans; all you need to know

During its FY24 annual inspection of banks and NBFCs, the RBI flagged concerns regarding the widespread use of 'netting off' in microfinance loans

PNB Housing Finance looks to grow corporate loan book starting Q3

The New Delhi-based mortgage lender previously held a substantial corporate loan portfolio but reduced its exposure due to stress in the segment

Consumption loan portfolio expands 15% to Rs 90 trillion in FY24: Report

India's consumption loan portfolio grew by 15.2 per cent year-on-year (YoY) to Rs 90.3 lakh crore as of March 2024, according to the latest credit bureau report. The fourth edition of CRIF High Mark report noted a slowdown from the 17.4 per cent growth recorded in March 2023, largely due to a deceleration in the home loans segment, which accounts for 40.1 per cent of the overall consumption loan portfolio by value. The home loans portfolio saw growth slowing down to 7.9 per cent YoY in FY24, from the 23 per cent expansion seen in FY23. This was mainly due to muted growth in "originations", which increased by 9.2 per cent in FY'24 compared to 18.2 per cent in the previous fiscal year. Origination refers to the process by which a lender creates or initiates a new loan or credit, including evaluating, processing, and approving a borrower's application. The report finds a shift toward higher ticket sizes, with a growing preference for loans above Rs 35 lakh, although the average ticket

Shaping a better tomorrow: Loan distribution set for major overhaul

The Financial Stability Report of June 2024 has it that delinquency levels among borrowers with personal loans below Rs 50,000 remain high

SBI raises MCLR by 10 basis points for all tenors; 3rd hike in 3 months

The latest increase in MCLR by SBI comes days after the RBI left the repo rate unchanged at 6.5 per cent

Loan against MFs: Opt if portfolio growth set to outpace loan rate

The Mutual Funds offered as collateral must be held in demat format

RBI's draft provisions create a flutter

The new provisioning norms for infrastructure financing have set the cat amongst the pigeons

Fintech firm Fibe raises $90 mn in funding round, looks to list in 3 years

Consumer loans company says it will use the financing to expand business

Buying a home? Compare loan interest rates offered by different banks

Interest rates vary and are influenced by several factors including your creditworthiness, loan amount, professional background

RBI's regulatory clampdown may tighten loan growth next year: S&P Global

The regulatory actions would enhance the operational resilience of the system, says the rating agency

States plan to raise record Rs 50,206 crore next week through bonds

At the previous state loan auction, the cut-off yield on the 10-year state government securities was set in a range of 7.36-7.41 per cent

Banks' lending rate hit 46-month high in Jan; for fresh deposits in Aug

The weighted average lending rate by scheduled commercial banks on fresh loans increased to 9.45 per cent in January 2024 compared to 9.32 per cent in December 2023

Punjab & Sind Bank, WDRA agreement to offer low-interest loans for farmers

MoU aimed at promoting awareness and extending loans against e-NWRs with no collateral

LIC Housing Finance expects to report 15% improvement in FY25 loan book

The disbursements in third quarter of FY24 was at Rs 15184 crore 5 per cent lower from Rs 16100 crore in the year ago period

States' loan guarantee more than triples since FY17 to Rs 9.4 trn in FY23

The total loan guarantees extended by 17 major states to their entities have more than tripled to Rs 9.4 lakh crore by FY23 from Rs 3 lakh crore in FY17, says a report. While guarantees are contingent liabilities, they may pose a risk to states' fiscal health if a substantial proportion of the stock needs to be serviced by them, warranting robust guarantee monitoring and prudent extension of guarantees in the future so that the financial system as a whole remains resilient. States often sanction and issue on behalf of their various enterprises, cooperative institutions, and urban local bodies guarantees in favour of their lenders which are generally banks or other financial institutions. The total loan guarantees extended by the 17 major states to their entities have more than tripled to Rs 9.4 lakh crore as of FY23 from Rs 3 lakh crore in FY17. This is equivalent to the entire increase in such guarantees of these states during FY2017-22, Icra Ratings chief economist Aditi Nayar sai

Nearly 90% of young people lack ability to calculate loan repayments

The exercise involved calculating the total amount to be repaid after a year if one is given the loan amount and the interest applicable

Bandhan Bank clarifies the NCGTC audit is only on CGFMU loan claims

CGFMU is a government-established trust fund which ensures payment against default for micro loans that are extended to small borrowers

Banks seek RBI's nod to defer penal interest guideline by 3 months

The RBI issued guidelines instructing banks to levy charges rather than increase the interest rate for borrowers who fail to meet the terms and conditions of a loan contract starting January 1, 2024

RBI to unveil regulatory framework for web aggregators of loan products

Move aimed at increasing transparency and improving lending practices