Latest News for: Unsecured credits


Be cautious when shopping Online

Commonwealth Journal 09 Dec 2023
Shopping with an unsecure connection may make you an easy target for cyber thieves who can steal your credit card information ... Use credit cards instead of debit cards to make online purchases ... You may also request a free credit report from the three credit reporting agencies Experian, TransUnion and Equifax.

Actively disinflationary: Key RBI forecasts suggest repo rate cuts won’t be feasible for most of FY25

Financial Express 09 Dec 2023
Third, despite RBI tightening macro-prudential norms on banks’ and NBFCs’ unsecured retail lending (and banks lending to NBFCs), bank credit to these segments remain robust (although it is still early days). This credit flow is adding to demand, and transmission in credit markets remains incomplete.

RBI Holds Rates Again, Bumps Up FY24 Growth Forecast To 7 Per Cent

The Arabian Post 09 Dec 2023
The RBI, which shook banks and non-banking financial companies (NBFCs) with higher capital requirements for extending unsecured loans, ... The central bank last month ordered higher risk weights to be assigned to unsecured credit that outpaced other loan types over the past one year.

RBI for curtailing consumption loans, unsecured loans with undefined end use: DG Swaminathan J

Financial Express 08 Dec 2023
Deputy Governor Swaminathan J on Friday said the Reserve Bank wants the lenders to “curtail” consumption loans or unsecured credit, where the end-use is undefined ... segments or unsecured credit which do not have a defined end use,” Swaminathan told reporters.

India's tighter unsecured loan norms not aimed at stopping credit flow - cenbank deputy Rao

Reuters 08 Dec 2023
"It is essentially a prudential measure to curb or moderate credit growth in certain specific sectors," M ... The RBI expects lenders to set aside more capital against loans given for consumption-led segments or unsecured credit that does not have a defined end-use, he added.

RBI Deputy Governor Swaminathan wants lenders to 'curtail' consumption loans

The Economic Times 08 Dec 2023
... measure to curb growth or moderate credit growth to certain sectors.

RBI tweaks ecosystem to ease market liquidity

Live Mint 08 Dec 2023
... have taken certain measures,” said Swaminathan.Last month, RBI raised the risk weights assigned to unsecured consumer credit like personal loans and credit card dues, months after monitoring the situation and cautioning banks against going all out in lending to these categories.

Higher risk weights not tantamount to turning off credit tap: RBI

Business Line 08 Dec 2023
... loans is not akin to turning off the credit tap but only a prudential measure to calibrate growth in certain segments of unsecured lending.

Cancel student loan debt for those with income under $71K, researchers to tell Biden panel

Usatoday 08 Dec 2023
Low credit scores are a useful metric for ... The six hardship metrics are.Credit scores,Outstanding mortgage balances,Unsecured credit utilization,Severe delinquency on loans,Adverse legal proceedings, such as foreclosures and bankruptcy, andProgress toward paying back car loans.

Top Workplaces 2023: Priority Plus puts powerhouse behind team

Orange County Register 08 Dec 2023
of ... Priority Plus offers loans with fixed rates, as opposed to credit card companies that can change rates monthly ... Q ... These are unsecured personal loans needed for larger purchases or debt consolidation, for things like credit card debt or home improvement. The majority of our clients are sick of paying high-interest rates for their credit card debt ... .

3 reasons why the RBI has held interest rates steady

Indian Express 08 Dec 2023
But food remains a significant risk ... Despite rate increases, bank credit growth has sustained over 15 per cent this fiscal, unchanged from last year ... On its part, the RBI has been keeping an eagle eye on the strong credit offtake in risky segments such as unsecured consumer credit. The other concern is high bank credit flow to non-banks.

RBI to announce monetary policy today, another pause in repo rate most likely

Beijing News 08 Dec 2023
New Delhi , December 8 (ANI) ... As things stand, the monetary policy committee is most likely to maintain status quo ... Although MPC will emphasise on bringing inflation to the 4 per cent target, we expect MPC to remain on pause on rates and stanceWe may also hear a bit more about the retail/unsecured credit environment," he said ... (ANI) ....

RBI Monetary Policy: What are the subtle hints from the central bank? 10 experts parse MPC decisions

Live Mint 08 Dec 2023
... needed to speed up transmission and rely on macro prudential measures to manage risks to financial stability.The recently raised risk weights for unsecured, credit card and non-bank lending will crank up the capital requirements of financiers and put pressure on lending rates.

Higher risk weights to lower Yes Bank CRAR by 30-35 bps: MD

Financial Express 07 Dec 2023
Higher risk weights on unsecured consumer credit and bank loans to non-banking financial companies (NBFC) will lower Yes Bank’s capital to risk weighted assets ratio (CRAR) by 30-35 bps, managing director and CEO Prashant Kumar told FE ... The CEO pointed out that the bank has been cautious on unsecured loans since January.

Paytm to reduce small loans, shares dive following announcement

Gulf News 07 Dec 2023
Paytm's action comes after the Reserve Bank of India in November asked lenders to boost provisions against personal loans and credit card borrowings as these debts are unsecured ... The increase in risk-weight of loans taken from banks may nudge non-bank lenders to seek alternative sources of credit, analysts have said.