Several banks have already announced hike in interest rates on home loans linked to repo rates post RBI's policy action on May 4, while others could increase their rates from June 1
The partnership aims to finance and lease 2.5 lakh vehicles over the next three years, the company said in a statement.
Chadha said the bank has seen sequential improvement in bad loan figures consistently and is confident the trend will continue this fiscal.
Some banks and housing finance companies announced an increase in their home loan rates immediately after RBI's announcement on repo rate hike
A fixed-rate loan, as the name suggests, has a steady interest rate. But there are costs involved with switching to such a loan and the change isn’t as smooth as you’d think. Fixed-rate loans carrying interest rates of over 8.25-8.5 percent may not be worth.
Executive director Anup Bagchi said banks may soon start to lend to MSMEs based on their cashflows and not on their solvency, thanks to the rapid adoption of digital services.
It is important to analyse the loan features as well as one’s repayment capacity.
As of December 31, infrastructure-focused Non-Banking Financial Companies (NBFC) had given outstanding loans worth Rs 13.8 lakh crore.
Interest rates on cheapest bike loans from banks range between 6.85-9.9 percent
Selecting between the two options depends on the repayment ability of the individual, the existing burden of any EMIs and future expenses.
The amount of loans securitised by NBFCs (Non-Banking Financial Companies) and HFCs (Housing Finance Companies) in FY21 stood at Rs 87,300 crore, ICRA Ratings said in a report.
Normalised collection efficiency will lead to higher recoveries and upgrades and higher credit growth shall further improve lenders’ headline gross non-performing asset figures, analysts say.
The Gross Merchandise Value (GMV) for its merchants payments business saw a growth of 111 percent in the year, rising from Rs 4 lakh crore to Rs 8.52 lakh crore.
During Q4, the private sector lender’s total deposits rose 24% on a yearly basis to Rs 96,331 crore as on December end.
The National Credit Guarantee Trustee Co has also increased the limit for borrowing under the third iteration of the ECLGS.
M&M Finance is keen to look at gold loans as a key business vertical.
Gross merchandise value rose 105% on year during January-February to Rs 1.65 lakh crore
Some people flagged that they received multiple messages from State Bank of India Yono Lite app, all addressing them differently.
Increased participation in the labour force, higher financial independence, better credit awareness and improved access to economic opportunities have driven the growth of women borrowers in India, says Harshala Chandorkar, chief operating officer of TransUnion CIBIL.
Armed with a decent deposit book, competitive cost of funds and adequate capital, IndusInd Bank should see strong earnings traction in FY23 and beyond. The undemanding valuation provides headroom for rerating, here’s why
Phase I of the digital transformation journey has gone live and in Phase II Bajaj Finance's app will offer 72 features as compared to 52 currently.
Officials say expanding the credit guarantee amount for each MSME, currently Rs 2 crore, has been a long-term suggestion.
Google Pay has 10 million merchants, who will be given the option of availing a pre-approved loan from Indifi in the app itself, based largely on their payment receipts data, Aditya Harkauli, chief business officer at Indifi, said.
The company is engaged in residential, commercial, retail and other projects, such as mass housing and cluster redevelopment.