Personal loans likely to become cheaper as RBI cuts risk weightage
Thursday, August 8, 2019, 6:11 PM
The RBI has reduced risk weight for consumer credit, including personal loans but excluding credit cards, from 125% to 100%, allowing banks to reduce their interest rates. Banks are required to set aside a percentage of the loan amount, depending on the risk perception of a loan type. Banks will now need to set aside lower capital for these loans.
CCD boss had over Rs 1,000 cr personal debt
Thursday, August 1, 2019, 1:11 PM
Cafe Coffee Day's late founder VG Siddhartha had taken on debt of more than Rs 1,000 crore through entities that housed his personal holdings, according to corporate affairs ministry documents. A letter purportedly written by Siddhartha to the board and employees of Cafe Coffee Day, before he went missing, had cited growing pressure from creditors and a private equity partner.
Muthoot Finance offers loan of up to Rs 10 lakh to salaried class
Tuesday, May 21, 2019, 6:02 PM
Muthoot Finance Tuesday said it has expanded its personal loan scheme for customers in Delhi and NCR in which it will offer up to Rs 10 lakh to the salaried class. Under this, Muthoot Finance will give unsecured loans of Rs 1-10 lakh at an interest rate of 13.5-23 percent to salaried class only, the company said at an event.