Page 5 - Loans

How you use a loan determines tax benefit

Interest paid on even a loan against property is tax deductible if you can prove that the loan was utilised for your child's higher education

Multi-crore loan scam: Oppn grills Kerala govt in Assembly; stages walkout

The CPI(M)-led LDF government in Kerala on Friday faced the opposition heat in the state Assembly over a multi-crore loan scam that surfaced in a cooperative bank controlled by the party

Biz2X launches API-based loan management system to speed up loan cycle

The solution minimises human error, offers customer detailed portfolio on a single click and helps him achieve cost savings

IIFCL aims for loan sanctions worth over Rs 23,000 crore in FY22

IIFCL is aiming at loan sanctions worth over Rs 23,000 crore and disbursements of Rs 14,000 crore in 2021-22 depending on the project pipeline available in the market.

Best of BS Opinion: Hope fades for PSBs, a future without promoters & more

Here are the best of Business Standard's opinion pieces for Wednesday

Capital India to invest $25 million in education loan company Credenc

Credenc gives loans for schooling, online upskilling and higher education; it plans to scale up its finances

Comply with order once moratorium ends

NCLT Mumbai Bench's moratorium order was effective from December 3, 2018, to May 2, 2020.

Credit costs of MFIs may surge up to 10% by March 22, says Ind-Ra

In May 2021, the rating agency had predicted that overall the microfinance sector's collections could drop by a cumulative 10-15 per cent during the month compared to March 2021

JPMorgan notches record quarter on merger flurry, $3-bn reserve release

JPMorgan released $3 billion in reserves it had previously set aside for bad loans, almost twice as much as analysts had predicted.

Recast loans at non-bank lenders may double by this fiscal-end: Report

The same ratio had stood at 1.6 per cent as of March 2021, after the first wave of the pandemic.

Non-bank financial entities' restructured loans to rise 3.3% by March: ICRA

Covid-19 and lockdowns to slow down its spread have affected the cash flow of borrowers, says agency

Bajaj Finance books fewer new loans in June quarter over March

In Q1FY22, it booked 4.6 mn new loans while in the previous quarter it had booked 5.47 million. On a YoY basis, there is a 1.5x jump in new loans booked

Pak's external debt likely to increase due to dependence on foreign loans

Pakistan's external debt is likely to increase in the near future as it is under compulsion to borrow more and more every year

Half of India's working population of 400 mn people credit active: Report

Credit institutions are fast approaching a saturation level in new customers as over half of the borrowers are from the existing customer base of a bank: report

FM announces Rs 1.1 trn loan guarantee scheme for Covid affected sectors

The scheme would include Rs 50,000 crore loan to the health sector

Bank of Maharashtra tops PSU bank chart in MSME loan growth in FY21

State-owned Bank of Maharashtra (BoM) has become top performer among public sector lenders in terms of retail and MSME loan growth during 2020-21. The Pune-based lender recorded a 35 per cent growth in MSME loans at Rs 23,133 crore in 2020-21, according to the BoM data. It was followed by the Chennai-based Indian Bank which posted a 15.22 per cent growth in loan disbursal to MSMEs with aggregate loans at Rs 70,180 crore at the end of March 2021. When it came to loans to retail, BoM with nearly 25.61 per cent growth was ahead of even the country's largest lender State Bank of India, which recorded 16.47 per cent rise. However, in absolute terms SBI's asset base to retail segment was a whopping 30 times higher at Rs 8.70 lakh crore as against Rs 28,651 crore of BoM. Bank of Baroda increased its retail loan portfolio by 14.35 per cent to Rs 1.20 lakh crore during the last fiscal year, the data showed. For the full year 2020-21, BoM's standalone net profit jumped nearly 42 per cent

Holiday first, pay later: Offer suited only to travellers with deep pockets

No amount blocked on advance booking but such borrowing is reckless

Tata Capital expects over 10% growth in credit this financial year

During FY21, its loan book stood at Rs 77,219 crore, compared to Rs 77,610 crore in March 2020.

'Not an expert': SC declines to pass order on loan moratorium amid Covid

The top court said the courts are not experts in financial matters

Tata Motors raises $425 mn in offshore bonds to pare debt, meet expenses

Of the proceeds raised, Tata will use $318 million to refinance existing loans and the rest to meet corporate expenses