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In the year 2017-18, they managed to collect a total of 1.18 lakh crore rupees from loans that were put in the bad loan account. However, the collection declined to 0.91 lakh crore rupees in the year 2021-22.
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According to data by the Reserve Bank of India, in June 2023, Indians spent around ₹88,379.85 crore through credit cards online, while debit card transactions amounted to ₹17,012.92 crore.
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There are no RBI regulations governing such entities. In other words, these platforms operate in a grey zone, regulation wise.
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Taking a top-up loan can be quite beneficial. Is it right to take a top-up loan on a home loan? What is a top-up loan, and who can benefit from it? Let's find out the details.
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The RBI has now set sights on dealing early on with any potential defaults that might occur, given the unprecedented growth registered in the unsecured loan segment
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Home, car and education loans are for long-term. Interest has to be paid along with the principal in the form of EMI. To avoid this burden of interest, some people try to repay their loan prematurely. When should you repay the loan before time, is there a fee on it, what is the benefit of loan prepayment? Read on
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The property which you hold can be a helpful tool to expand your business if used effectively
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While errant companies will be tagged with a code that would be linked with their PAN, the code for individuals will be linked to their Aadhaar, the report said
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Even customers in the low-risk tiers report downward momentum while consumer credit portfolios of non-PSBs see signs of stress, says RBI report
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A credit score of below 649 is considered a poor CIBIL rating and a lender may reject your loan application
