Page 3 - Loan

ADB assures cash-strapped Pakistan $2 billion in new loans annually: Report

The Asian Development Bank has assured Pakistan it will provide USD 2 billion annually in new loans to the cash-strapped country amid the government's inability to get cheaper credit due to its worsened ratings, according to a media report on Tuesday. The assurance was given by the visiting Asian Development Bank (ADB) President Masatsugu Asakawa during his interaction with Pakistani authorities on Monday, The Express Tribune newspaper reported, citing Ministry of Economic Affairs officials. The Manila-based lender is expected to provide USD 2 billion per annum from 2024 to 2027, the officials said, adding that the total four-year package amounts to USD 8 billion. Out of the USD 2 billion, the ADB will give around USD 1 billion at a fixed 2 per cent rate under its concessional window. Despite having reached a staff-level agreement with the International Monetary Fund (IMF), Pakistan has become a desperate borrower in recent years, striking deals at unsustainably higher interest rate

Soon, loan processing for MSMEs, others will be faster, simpler: Here's how

Much like the UPI revolutionised payments, ULI aims to do the same for lending, making it quicker and simpler

SBI can support loan growth, lower deposit growth not a challenge: Khara

Amid concerns over the continuing gap between deposit and loan growth, SBI Chairman Dinesh Khara on Friday said it is not posing any challenges for the country's largest lender as it is able to support the uptick in advances. The bank is unwinding a part of its excess investments in government securities to arrange the required resources to support the loan growth, Khara told reporters here. It can be noted that for nearly two years, the deposit growth is trailing the credit expansion for the banking system, and SBI has also been seeing the same trends in its business. Some experts have been opining that this is due to flow of savings into higher yielding capital market alternatives, while some like SBI's own researchers also called the concerns a "statistical myth", saying the overall quantum of incremental deposits has been higher than advances since FY22. Asked about how concerning the situation is at present, Khara said, "We are in a position to support our loan book growth wel

How Kissht empowers borrowers through Responsible Lending

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Buying a car? Here are best loan rates by various companies

The EMIs you pay on the loan will vary significantly depending on the interest rate

Buying a home? The best home loan rates offered by banks, finance firms

Interest rates depend on a customer's creditworthiness, loan amount, professional background and other factors

Why your credit score is not improving despite timely payments: Know more

Each time you take a new credit card or loan or look to refinance an existing loan, the new lender checks about you

Credit score to bills: Steps to take if your loan application is rejected

Paying loan instalments on time is crucial for maintaining a healthy credit profile, reducing the chance of loan rejection

Should you take a loan against mutual funds? Check details before opting

Loan against mutual funds is a financial solution that allows you to create an overdraft facility against your mutual fund units

Medical emergency loan: Quick access to funds carries higher interest rates

Such loans typically offer faster processing times and easier eligibility criteria

Tata Communications raises $250 million sustainability-linked loans

ANZ acted as the lead sustainability coordinator for the loan, while DBS Bank and EDC were the joint sustainability coordinators

Planning to purchase a car? Here are best loan rates by various companies

Processing fees and rules of top lenders listed to help you make a decision

Vodafone Idea in talks to avail loans worth $1.8 billion, says report

The company has reached out to state-run lenders State Bank of India (SBI), Bank of Baroda, Punjab National Bank and some privately-held banks, the report said

RBI releases draft guidelines for web aggregators of loan products

While LSP can adopt any mechanism to ascertain the willingness of the lenders to offer a loan, the RBI said it should follow a "consistent approach" that must be disclosed suitably on their website

SBI Surya Ghar Scheme for solar rooftop financing: All you need to know

All individual applicants who have sufficient roof area and rooftop rights on which the installation is proposed, can avail this loan for installation of solar roof Top of up to 3 KW capacity

Microcredit facilities for street vendors: Know about PM SVANidhi scheme

Under this scheme, the street vendors can take collateral-free loans with low interest

BJP promises to double Mudra loan ceiling to Rs 20 lakh: Details here

Under the PM Mudra Yojana (PMMY), over 460 million loans worth Rs 27 trillion have been given so far

Bank of India signs pact with IMGC for mortgage guarantee on home loans

IMGC's guarantee will mitigate the risk of defaults for the bank, allowing it to potentially offer more favourable loan terms to borrowers, the company said in a statement

IMF approves $8 billion loan plan for Egypt as global bailout takes shape

The executive board's assent increases the Extended Fund Facility arrangement from the $3 billion originally approved in December 2022 to $8 billion

IMF to increase Egypt's bailout loan to $8 billion to shore up its economy

The executive board of the International Monetary Fund confirmed a deal with Egypt to increase its bailout loan from USD 3 billion to USD 8 billion, in a move that is meant to shore up the Arab country's economy which is hit by a staggering shortage of foreign currency and soaring inflation. In a statement late Friday, the board said its decision would enable Egypt to immediately receive about USD 820 million as part of the deal which was announced earlier this month. The deal was achieved after Egypt agreed with the IMF on a reform plan that is centred on floating the local currency, reducing public investment and allowing the private sector to become the engine of growth, the statement said. Egypt has already floated the pound and sharply increased the main interest rate. Commercial banks are now trading the US currency at more than 47 pounds, up from about 31 pounds. The measures are meant to combat ballooning inflation and attract foreign investment. The Egyptian economy has be