Latest News for: Unsecured credits

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Households are taking more loans to boost their spending

Indian Express 30 Sep 2023
Data on bank credit does indicate that households have utilised the higher borrowing for the purchase of houses and vehicles and also for financing consumption ... The RBI's financial stability report had earlier noted that the share of unsecured retail loans has gone up ... There are also limits to this credit-driven growth in private consumption.
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Four reasons why bank credit growth is expected to moderate in FY24

Indian Express 30 Sep 2023
However, excluding the impact of the merger, bank credit has grown by 15.08 per cent ... Unsecured loans (both personal loans and credit cards) are expected to grow faster, driven by greater digitalisation of financial transactions, a shift to organised credit, and increasing comfort with borrowing for discretionary spending.
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Partnership between BOV and St Vincent de Paul benefits residents and carers

The Malta Independent 29 Sep 2023
BOV Value and Customised Packs are designed for employees of specific companies or organisations and offer specific benefits on a broad spectrum of the Bank's products and services including access to unsecured personal loans, reduction in processing fees, discounted credit card ...
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Sagicor Financial Company clears last hurdle to acquire Ivari

Jamaica Observer 29 Sep 2023
... and result in positive implications for its own credit rating ... Apart from the syndicated financing from three Canadian banks to acquire Ivari, SFC also entered into a credit agreement on August 2 to establish a senior unsecured revolving credit facility for up to US$125 million.
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Credit card spending surges to record in India in sign of stress

Deccan Herald 28 Sep 2023
“As loans on credit cards are unsecured, there is a risk of high defaults,” particularly if economic growth slows later in the year.</p>.Credit card usage surpasses debit cards in India.<p>The rising spends also points to an aggressive retail push by lenders in the ...
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Credit growth set to fall to 13-13.5% in FY24: CRISIL

Financial Express 28 Sep 2023
Credit growth is seen at 13-13.5% year-on-year(y-o-y) in 2023-24(April-March), lower than nearly 16% y-o-y in 2022-23, CRISIL Ratings said in a report on Thursday ... Retail credit growth should grow at 19-20% y-o-y in the next financial year aided by a strong demand for home loans and unsecured loans.
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Gen Z is poised to spend more on debt than others. It could derail retirement

Deccan Herald 28 Sep 2023
Borrowers with credit rated “fair” pay an average of nearly 26% interest on credit cards, according to the online personal finance platform WalletHub, and interest rates of close to 30% aren’t uncommon, according to credit counselors who work with these ...
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Introducing ICLFE's Interbank Liquidity Exchange™ - Risk Management Safety Net for Banks and Credit Unions

Victoria Advocate 27 Sep 2023
The challenges of maintaining liquidity are compounded by fluctuations in deposits and the unreliability of conventional credit lines, emphasizing the critical need for robust, multiple sources of contingent funding ... irrevocable standby letters of credit (ISBLC) to one another.
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Why Ganeshram Jayaram is struggling to find value and recommending 10% cash

The Times of India 25 Sep 2023
... fund debt servicing because unsecured loans are growing at almost 30%.
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Viasat Announces Pricing of $733.4 Million of Senior Notes

Longview News-Journal 21 Sep 2023
The notes will be jointly and severally guaranteed on a senior unsecured basis by all of Viasat's future domestic restricted subsidiaries that guarantee its existing revolving credit facility ... million unsecured bridge loan facility (the "Bridge Facility"), which was fully drawn.
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Axis Bank launches transaction banking solution for MSMEs

Financial Express 21 Sep 2023
Last month, Axis Bank had announced offering up to Rs 10 lakh unsecured MSME loans and Kisan Credit Card (KCC) for loans up to Rs 1.6 lakh per borrower under the pilot project of the Reserve Bank of India’s (RBI) Public Tech Platform for Frictionless Credit which commenced on August 17.
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Study-abroad startups defy slump

Financial Express 20 Sep 2023
Easy credit ... As per Crisil Ratings, NBFCs have a share of 70-75% in the overseas education credit market. Students can get unsecured loans of up to `70 lakh from these institutions with an average interest rate between 11-12.7% ...Despite the majority of loans being unsecured in ...
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KB Home Reports 2023 Third Quarter Results

The Galveston Daily News 20 Sep 2023
Cash and cash equivalents increased to $612.1 million, compared to $328.5 million, primarily due to cash generated from operations, partly offset by cash used for common stock repurchases and repayments of cash borrowings under the unsecured revolving credit facility.The Company ...
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Best Egg Appoints Charles Do as New Chief Consumer Lending Officer

Longview News-Journal 19 Sep 2023
A recognized leader with almost two decades of financial services experience, Do will oversee Best Egg's consumer lending product suite, including secured and unsecured personal loans, vehicle equity loans, credit cards, and flexible rent solutions.
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New Data from Nonprofit Money Management International Shows a Growing Demand for Help with ...

Enid News & Eagle 19 Sep 2023
MMI’s data also indicates that clients seeking credit counseling in 2023 have an average unsecured debt load 26% higher than those counseled during the same timeframe in 2022 ... Programs include credit counseling and debt management plans, which can significantly reduce interest rates and expedite repayment while improving creditworthiness.
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