Loans News

The scheme has led to the empowerment of women, as nearly 70 per cent of Mudra loans have been availed by women entrepreneurs, enhancing their financial independence and contributing to gender equality. 

The central bank will conduct three OMO purchase auctions of government bonds for an aggregate amount of Rs 60,000 crore. Three OMO auctions (Rs 20,000 crore each) will be held on January 30, February 13, and February 20. 

Under what conditions does the bank have the right to recover money from the heirs of the borrower? Let us figure out the answers to these questions.

The company had posted an annualised run rate of loan disbursals of about Rs 29,000 crore in August. The value of loans disbursed through Paytm grew close to six times to Rs 7,313 crore, from Rs 1,257 crore in the September 2021 quarter.

DPIIT said that loan/debt facilities sanctioned to an eligible borrower on or after October 6, would be eligible for coverage under the scheme. This scheme would help provide the much needed collateral-free debt funding to startups, it added. These institutions should also have to closely monitor the borrower account.

PNB 'Loan Scheme for Pensioners' provides loans to older people. Up to Rs 10 lakh loan can be availed till the age of 70 years under the PNB scheme. You have to give a guarantee while taking the loan under the PNB scheme.

The timing for call for recovery has been set between 8 a.m. and 7 p.m. RBI has warned collection agents not to harass customers.

He also shared concerns over the use of ‘big tech’s data’ in the loan approval process. Das also refuted criticism of the RBI being behind the curve in its policies. His comments came two days after Arvind Subramanian co-authored an article blaming the RBI for acting late on inflation.

The bank validates your identity using your Aadhaar card and deposits funds into your account within a few days. ID card verification, face verification, address verification, and biometric verification are all part of the KYC process.

Check you CIBIL score. Use Paytm and Bank Bazaar to see if your PAN card was misused. Check Form 26A to see if someone has taken a loan or not.

Growth in loans to industry improved noticeably to 7.6 per cent in December 2021 from 0.4 per cent. Growth in credit to micro and small industries accelerated to 20.5 per cent in December 2021 from 1.3 per cent a year ago. The growth in loans to the services sector accelerated to 10.8 per cent in December 2021 from eight per cent a year ago.

These loan organisations, which are rife with chances, have drawn both investors and scammers. Borrowers who have a basic understanding of digital loans and the lending procedure will be better protected from fraud. Fraudulent lenders target high-risk debtors in desperate need of a quick loan.

The new variant of the novel coronoavirus, which has already been reported from a few Indian states, can lead to the volumes of securitisation. If the worry around the Omicron variant grows, the unsecured loan financiers would be worst affected in the securitisation market.

The digital loan offering is provided against a wide range of equity and debt schemes across mutual funds. Customers can avail the loan amount by marking a lien on the mutual fund units which are managed by various asset management companies. Assets under management of mutual fund industry grew from Rs 15 lakh crore in 2016 to Rs 35 lakh crore till July this year.

On-the-go digital financing option 24x7 Loan approval of up to 100% on-road price of two-wheelers No physical documents required.

Rs 50,000 crore has been allocated to the health sector. Rs 60,000 crore has been allocated for other sectors. Sitharaman had further announced an additional Rs 1.5 lakh crore under the Emergency Credit Line Guarantee Scheme (ECLGS).

Each person can have several needs to take a loan but experts feel that a loan should only be taken for those expenses that cannot be avoided. It is not always necessary to go for a loan from the bank where you have your account. One of the key things to know is how much it will cost while taking a loan.

A gold loan is basically when a person takes loans against gold (within a range of 18-24 carats) from a lender. Many banks give gold loans for a maximum loan to value ratio of 75 percent of the current market price of the gold. Some of the common documents required include identity proof of the borrower like the Aadhaar Card, PAN, Voter ID, etc., photographs, address proof, among others.

If someone possesses a car, he/she can get a loan against it if they are in dire need of funds. It is a type of credit facility that is linked to a bank account and a user can get money from an account even if there is no money left in the account. People can also look for loans against gold as it comes at a lower interest rate and there are several lenders which offer gold loans.

Bitcoin investors can now secure hassle free loans without any involvement of traditional banks. Crypto banks are offering loans up to 50-60% of borrowers’ crypto asset value. You can easily secure crypto loans at an interest rate of 12-15% per annum.