Tag Archives: loan

ICICI Bank loan case: CBI transfers officer for delay in probe

“There was a strong suspicion that he might leak information about the ensuing searches.” The CBI is conducting an internal inquiry into the suspected role of Superintendent of Police Sudhanshu Dhar Mishra in the alleged delay in probing the ICICI Bank loan fraud case. Mr. Mishra, the supervisory officer, was transferred from the Bank Security and Fraud Cell (Delhi) to ... Read More »

Saudi-backed bank to grant loan to Pakistan: India must realise limits of weaning Riyadh away from Islamabad

The Saudi Arabia-backed Islamic Development Bank (IDB) is expected to grant Pakistan a loan of around $4 billion to repair the country’s acute balance of payments problem. This much-needed financial assistance will enhance Riyadh’s influence when Imran Khan takes over as prime minister of nuclear-armed Pakistan. Pakistan has also returned the favour by supporting Saudi Arabia in its diplomatic fight ... Read More »

ICICI Bank used term loans, LCs to help borrowers avoid loan defaults: Report

Moneycontrol News  ICICI Bank Ltd  issued hundreds of letters of credit (LCs) to debt-ridden borrowers to help them avoid loan default, a whistleblower complaint claims according to a Mint report. Loan evergreening, or the practice of extending loans to companies to help repay previous loans, is fairly common in India. This allows the companies more time to repay the bad loans. Regulators disapprove of ... Read More »

Planning to take a home loan? Here’s a checklist for you

When you plan to go for a home loan, don’t look at interest rate in isolation. Besides interest rate, check for processing charges and other costs too. Photo: iStockphoto Home loans are usually one of the only big ticket loans an individual takes. As the amount is huge, it is important that you opt for the right one. Types of ... Read More »

Serving, retired top officials of IDBI Bank booked by CBI in Rs 600-crore loan fraud

The CBI has booked top officials of two public sector banks, a former CMD of IDBI Bank, former Aircel promoter C Sivasankaran, his son and companies controlled by him in connection with a Rs 600-crore loan fraud, officials said today. The CBI has named 15 bank officials who worked at senior levels at IDBI Bank in 2010 and 2014 when loans ... Read More »

Latest Interest Rate On PPF, Income Tax Benefits, Withdrawal, Loan Facilities And Other Details

The rate of interest on PPF is compounded annually (Representational image) HIGHLIGHTS PPF, other small savings schemes interest rates are set every quarter Deposits in PPF account are eligible for tax deductions under Section 80C Up to Rs. 1.5 lakh can be claimed for a financial year under Section 80C COMMENTSPPF or Public Provident Fund is one of the most ... Read More »

Lend Money, Earn Interest? Not Easy in Europe’s Loan Market

(Bloomberg) — For investors still waiting for the first interest payment on the leveraged loan they joined, there may be a glimmer of hope. The Loan Market Association, an industry body, is preparing to publish guidelines aimed at speeding up the settlement process and making the European leveraged loan market more efficient. “We are in the final stages of drawing ... Read More »

Injuries Force Baker Back Into Loan Market

Injuries and the availability of players over the next month have led to Neil Baker, manager of Evo-Stik League South club Leek Town, dipping into the loan market once again for cover. The club have signed highly-rated midfielder Mike Calveley from SkyBet League Two side Port Vale. Calveley signed a one-year professional contract in May, following an impressive year with ... Read More »

Top loan defaulters owe 27% of total amount to SBI alone

HIGHLIGHTS As many as 1,762 wilful defaulters owed Rs 25,104 crore to State Bank of India as on March 31 Punjab National Bank is next on the list with 1,120 wilful defaulters having bad loans of Rs 12,278 crore RBI has allowed banks to name and shame wilful defaulters by publishing their photographs NEW DELHI: Country’s largest lender SBI accounts for over ... Read More »

IMF approves loan to Mongolia to finance reforms

The IMF forecasts Mongolia’s economic output will shrink by 0.2 per cent this year after growing less than 1 percent last year. The International Monetary Fund said Thursday lenders have approved a USD 5.5 billion financing package for Mongolia to support reforms meant to revive economic growth and reduce reliance on mineral exports. The fund said it would provide $434 ... Read More »