[ad_1] The executive board of the International Monetary Fund approved $1.1 billion in funding for Pakistan on Monday, the agency said in a statement, amid discussions for a new loan. The funding is the second and last tranche of a $3 billion standby arrangement with the IMF (Reuters/File) The funding is the second and last…
[ad_1] MUMBAI: In a move to boost transparency, RBI has asked all banks and finance companies to provide borrowers with a key facts statement that includes data on all fees and the annual cost of credit from Oct 1 besides basic loan information. The statement should also provide details on the policy on recovery agents,…
[ad_1] NEW DELHI: The Reserve Bank of India on Friday kept the repo rate unchanged for the seventh consecutive time at 6.5%. This indicates that your loan EMIs are likely to remain unaffected.Additionally, RBI governor Shaktikanta Das said that SDF and MSF stands at 6.25% and 6.75%, respectively.“After a detailed assessment of macroeconomic and financial…
[ad_1] Pakistan plans to seek a new loan of at least $6 billion from the International Monetary Fund to help the incoming government repay billions in debt due this year, Bloomberg News reported on Thursday, citing a Pakistani official. Pakistan Prime Minister Shehbaz Sharif(Reuters) The country will seek to negotiate an Extended Fund Facility with…
[ad_1] Borrowers often find it tough to know the exact cost of a loan and often realise that there are some “hidden surprises“.“At present, banks disclose all charges on a term sheet. However, an ordinary borrower does not always read the four-five pages of terms and conditions, so we have already mandated this document in…
[ad_1] MUMBAI: Consumer loans will get more transparent with Reserve Bank of India Thursday directing lenders to disclose all associated fees upfront. This move is part of ongoing regulatory efforts to enhance transparency and disclosure in loan pricing and charges imposed on customers by regulated entities.While the move will take a few months to be…
[ad_1] MUMBAI: In a bid to curb ‘evergreening’ of loans, RBI on Tuesday barred lenders from investing in a scheme of alternative investment funds (AIFs) that has funded a debtor company.The stricter norms for banks, NBFCs and other regulated entities have been introduced to prevent banks from violating exposure and lending norms, as well as…
[ad_1] MUMBAI: RBI has issued a cautionary statement regarding misleading advertisements that entice borrowers with promises of loan waivers. The statement is a response to the active promotion of such campaigns by entities through print media and social media platforms. These entities, lacking any authority, charge a service or legal fee for the issuance of…
[ad_1] Lenders use a variety of methods to determine the loan amount to be sanctioned to an individual or business. The specific methods can vary depending on the type of loan, the lender’s policies, and the borrower’s financial situation. Here are some common methods used by lenders: Credit Score and Credit History Lenders often rely…
[ad_1] Are you struggling with a poor or nonexistent credit history? If yes, then a ‘credit builder loan’ might be the solution for you. Tailored for individuals facing credit challenges, especially first-time borrowers or those recovering from financial crises like job loss or medical emergencies, this loan aims to establish a robust credit profile. Credit…
