Retail lending, particularly in the unsecured segment such as personal loans and credit cards, has been under scrutiny in recent months. With the Reserve Bank of India flagging concerns and tightening regulations, both lenders and borrowers are adapting to navigate this evolving landscape. As rising risks in unsecured portfolios and moderation in retail credit growth […]
Travel loans surge as Indians seek flexible credit solutions – CNBC TV18
As travel demand hits record highs in 2024, travel loans have become a key financial tool for Indians seeking to explore new destinations. Fuelled by post-pandemic revenge travel, the rise of ‘bleisure’ tourism, and a rapidly growing middle class, more consumers are turning to travel loans to fund their trips. “Travel loans are definitely becoming […]
Why defaults in unsecured loans are rising and how borrowers can stay financially healthy – CNBC TV18
Unsecured loans, including personal loans and credit cards, have become a preferred borrowing option for many due to their quick disbursal, minimal documentation, and availability through digital platforms. However, this surge in unsecured lending is now accompanied by rising defaults. This has put financial institutions and borrowers under strain. What’s driving the surge in unsecured […]
Kotak Mahindra Bank to acquire Standard Chartered India’s ₹4,100 cr personal loan book – CNBC TV18
Kotak Mahindra Bank Limited (KMBL) has announced an agreement to acquire the personal loan book of Standard Chartered Bank, India. As of September 30, 2024, the proposed transaction includes a total loan outstanding of around ₹4,100 crore (approximately $490 million), comprising loans classified as “Standard Loans” according to Reserve Bank of India (RBI) guidelines. The […]
How retail loans boost festive season spending – CNBC TV18
The festive season in India is synonymous with increased consumer spending, and 2024 is no exception. As shoppers splurge on gifts, travel, and home renovations, retail loans have become a popular financing option. Here’s how personal loans, Buy Now Pay Later (BNPL) schemes, and other credit options can help. According to Vikkas Goyal, Founder of […]
Google partners with Aditya Birla Finance and Muthoot Finance to offer personal and gold loans – CNBC TV18
Google has announced new partnerships to enhance its financial services on Google Pay. The tech giant has teamed up with Aditya Birla Finance to offer personal loans and with Muthoot Finance to provide gold-backed loans. What are gold and personal loans? Gold loans allow borrowers to use their gold jewelry or coins as collateral to […]
What’s driving the boom in India’s gold loan market? – CNBC TV18
Gold rates surged to a record high of $2,580.81 per ounce on September 16, driven by a weaker dollar and expectations of deeper interest rate cuts in the US. So far in 2024, gold prices have risen nearly 23%, with a 35% increase over the past year. One of the key beneficiaries of this sharp […]
Indian PSU banks announce marginal lending rate hikes – CNBC TV18
Three major public sector banks in India have announced increases in their marginal cost of funds-based lending rates (MCLR), effective from August 10 and August 12. The adjustments will affect various loan tenures, making borrowing slightly more expensive for consumers and businesses. The moves reflect the banks’ responses to current economic conditions and the Reserve […]