MYSURU: Borrowers are worried as micro-financing firms, private banks and some primary co-operative societies have stepped up pressure for recovery of loans, going against the spirit of Reserve Bank of India’s moratorium relief. With the lockdown norms relaxed, their agents have entered the villages knocking at the doors of the borrowers asking them to pay the weekly instalment. A few …
At a time when demand has fallen to a trickle amid the Covid-19 pandemic and the ensuing national lockdown in India, Hyundai has come up with several finance schemes to ensure that customers are encouraged to make purchases without much worry regarding the prevailing uncertainties. On Friday, the Korean car maker announced five finance schemes which it claims will help …
I believe the technical term for what we have been experiencing in the financial markets is: Aargh! (‘Bloodsuckingly bad’ also works.) I’m not sure how much it helps, but I’ve been through something like this before, during the market meltdown of 2008, when the S& P 500 fell more than 38 percent in just that year. But most millennials, the …
Main Street may be more resilient than Wall Street during the coronavirus crisis. Former Office of Management and Budget director David Stockman warns the pandemic is exposing risky speculation and shaky market fundamentals. “Wall Street is toast,” he told CNBC’s “Trading Nation” on Thursday. “It’s going to end as a financial crisis because the illusion that central banks always have …
Lightning has struck twice. In a short span of around six months, bank depositors have been at the receiving end of the short circuit as it were. Punjab and Maharashtra (PMC) Co-operative Bank’s depositors faced restrictions imposed by the Reserve Bank of India (RBI), in September 2019. Last week, turbulence hit YES Bank, which is in the process of being …
India’s competition regulator is examining allegations that Tata Motors and two finance firms of its $100 billion parent group abused their market position while selling commercial vehicles, according to three sources and legal documents seen by Reuters. The Competition Commission of India (CCI) is reviewing a complaint which alleges the country’s biggest seller of trucks dictated terms around the quantity and type …
Shares of Muthoot Finance ltd jumped over 7 percent on Monday, buoyed by a strong third quarter performance. The gold finance company’s shares quoted at Rs 792.35 apiece, up 6.3 percent on BSE at 9.36 am. The stock opened at Rs 774, up over 3.5 percent from its Friday’s close of Rs 746.60. The stock surged to a new 52-week …
When Intuit acquired Mint more than a decade ago, mobile was in a different place — as were tech-enabled financial services. There hasn’t been much progress for the personal finance tracker app category in the meantime. Mint has stumbled along with integration issues and tiresome data misclassifications. For many, the best alternative has been firing up a spreadsheet. Copilot is a …
Union Finance Minister Nirmala Sitharaman. (Photo: Reuters) In a bid to meet ambitious tax target, the finance ministry on Friday held a review meeting with tax officials directing them to make special efforts to identify and book tax evaders through data analytics and information sharing. The meeting chaired by Revenue Secretary Ajay Bhushan Pandey. He was accompanied by the Goods …
NEW DELHI : India’s Finance Minister Nirmala Sitharaman said it was too early to say if the slowdown in the economy had bottomed out. Companies are planning new investments after $20 billion worth of corporate tax cuts announced in September, Sitharaman told reporters in New Delhi Friday. Actual investments may take some time to materialize, she said. Prime Minister Narendra Modi’s government has unveiled several …