Loans

Axis Bank Profit Rises 5% To Rs 1,757 Crore In December Quarter

Business | Written by Abhishek Vasudev | Wednesday January 22, 2020

Axis Bank's core income - net interest income - or the difference between interest earned on loans and interest expended on deposits rose 15.16 per cent to Rs 6,453 crore.

India's Painful Double Whammy Spreads to Other Economies, Including China

Business | Srinivasan Sivabalan, Bloomberg | Wednesday January 22, 2020

India, however, is not a victim of trade wars. Its slowdown is self-inflicted, caused by the evaporation of consumer demand, proliferation of bad loans and erosion in business confidence.

Opera Offering Predatory Loans via Android Apps: Hindenburg Research; Company Responds

Gadgets 360 Staff With Inputs From IANS | Tuesday January 21, 2020

Opera -- the maker of a popular Web browser for Windows, Android, and iOS -- is allegedly offering predatory loans through four Android apps aimed at India, Kenya and Nigeria (CashBean, OKash, OPay, and OPesa) that appear to be in direct violation of Google Play Store policies, forbidding predatory loans and deceptive descriptions.

HDFC Bank Slips On Rise In Bad Loans

Business | Edited by Peter Noronha | Monday January 20, 2020

Post market hours on Friday, HDFC Bank reported a stellar 32.8 per cent increase in its net profit for the quarter ended December 31, 2019. The private lender posted a consolidated net profit of Rs 7,416.5 crore in the third quarter of this fiscal, as opposed to Rs 5,585.8 crore in the corresponding quarter last fiscal. Net interest income (NII), t...

Samsung Says May Invest $500 Million To Set Up Display Factory In India

Business | Reuters | Monday January 20, 2020

Under the plan, Samsung Electronics will provide Rs 3,500 crore in loans and transfer a parcel of land in Noida for Rs 92 crore to its display unit.

Rs 2 Lakh Limit On Deduction Against Home Loan Interest Not Enough: Industry Body

Business | Edited by Sandeep Singh (with inputs from agencies) | Sunday January 19, 2020

India's real estate sector has been struggling against a severe liquidity crunch over the past three years following a series of debt defaults by high profile NBFCs.

HDFC Bank Profit Rises Nearly 33% To Rs 7,416 Crore In December Quarter On Higher Income Growth

Business | Edited by Peter Noronha | Saturday January 18, 2020

Net interest income (NII), or the difference between interest earned on loans and that paid on deposits, grew 12.6 per cent from Rs 12,576 crore to Rs 14,172.90 crore, driven by a 19.9 per cent increase in advances and 25.5 per cent in deposits, HDFC Bank said in a statement.

Ex-Bhushan Steel Official Mastermind Of Fraud: Probe Agency Charge Sheet

India News | Press Trust of India | Saturday January 18, 2020

The Enforcement Directorate on Friday filed a charge sheet against former Bhushan Power and Steel Ltd CMD Sanjay Singal and others in a multi-crore money laundering case linked to alleged bank fraud, saying he was the "mastermind" behind the diversion of loan funds.

Government Said to Propose Incentives to Woo Apple, Samsung Suppliers

Ragini Saxena, Bloomberg | Wednesday January 15, 2020

India is considering a plan to offer subsidised loans to mobile handset manufacturers in a bid to attract Apple and Samsung’s suppliers to open factories in the nation, a government official is claimed to say.

SBI's New Home Financing Scheme A Lifeline For Builders, Buyers

Business | Dhwani Pandya, Bloomberg | Monday January 13, 2020

State Bank of India on Wednesday said it will finance both builders and homebuyers, charging developers a premium and offering the latter a refund if their apartments are left unfinished.

Opinion: India Must End Yes Bank's Theater Of The Absurd

Business | Andy Mukherjee | Bloomberg | Monday January 13, 2020

More loan losses lie around the corner. With 40 per cent of deposits coming from fickle wholesale sources, solvency and liquidity risks are high.

Enforcement Directorate Attaches Rs.78.15 Crore Assets Of Chanda Kochhar, Family

Business | IANS | Saturday January 11, 2020

Chanda Kochhar: The ED said its probe had revealed that loans were refinanced and new loans aggregating to Rs 1,730 crore sanctioned to Videocon Industries Ltd (VIL) and its group companies and these loans became non-performing assets (NPA) for ICICI Bank on June 30, 2017.

Ex-ICICI Bank CEO Chanda Kochhar's Home Seized By Enforcement Directorate

India News | Reported by Saurabh Gupta, Edited by Chandrashekar Srinivasan | Friday January 10, 2020

The Enforcement Directorate has provisionally attached Rs 78 crore worth of properties belonging to former ICICI Bank CEO Chanda Kochhar as part of a probe into a money laundering case involving the bank and the Videocon Group

Shadow Banking Credit Disbursal To Remain Weak In India: World Bank

Business | Indo-Asian News Service | Thursday January 9, 2020

Total NBFC sanctions fell to Rs 1.9 lakh crore at the end of September from Rs 2.9 lakh crore during the same period last year.

Discounts Fuel U.S. Pick-Up Truck Sales In A Slowing Market

Reuters | Saturday January 4, 2020

U.S. automakers on Friday reported another year of stable sales of pick-up trucks, as discounts during the crucial holiday season and lower interest rates on vehicle loans attracted buyers while demand for passenger cars retreated further.