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New Delhi: First-time borrowers without a CIBIL score should not face outright rejection of loan applications, the government clarified in Parliament. Minister of State for Finance Pankaj Chaudhary informed the Lok Sabha during the monsoon session that the Reserve Bank of India (RBI) has not prescribed any minimum credit score requirement for loan approval. RBI has advised banks and financial institutions not to reject applications solely due to lack of credit history. This enables new borrowe ...Read More >
India's oldest asset reconstruction company (ARC) wants to go public. Asset Reconstruction Co. (India) Ltd (ARCIL) filed its draft prospectus on 1 August, with four of its shareholders -- Avenue India Resurgence Pte. Ltd, State Bank of India, Lathe Investment Pte Ltd, and The Federal Bank Ltd -- looking to sell up to 105.46 million shares. If approved, it will become India's first listed ARC. Mint takes a look at the draft red herring prospectus (DRHP) to assess the state of India's ARCs -- on ...Read More >
June 13 (Reuters) - The UK's blue chip index held just below its all-time high hit last week as investors assessed the trajectory of U.S. tariffs as well as domestic interest rates, while AstraZeneca gained on successful drug trial results. The blue-chip FTSE 100 (.FTSE), opens new tab was up 0.4% as of 1105 GMT, while the domestically oriented FTSE 250 index (.FTMC), opens new tab added 0.3%. AstraZeneca (AZN.L), opens new tab added 1.4% after the pharmaceutical giant said its experimental dr ...Read More >
Mumbai: Uddhav and Raj Thackeray, once distant cousins, are coming together to challenge the Maharashtra government's choice to implement Hindi as a compulsory language for Classes 1 to 5 according to the National Education Policy (NEP). They perceive this action as an infringement on local identity and language variety. Uddhav's Shiv Sena (UBT) and Raj's Maharashtra Navnirman Sena (MNS) are set to conduct a unified protest march on July 5, representing their first joint endeavour in twenty year ...Read More >
New Delhi: The banking regulator is examining suggestions to further streamline credit bureau processes and reduce information asymmetry with lenders, a move aimed at addressing data inconsistency and transparency for customers, said people familiar with the development. "A technical working group has been formed by the RBI (Reserve Bank of India) to address concerns raised by financial institutions related to credit information companies (CICs)," said an executive, who did not wish to be ident ...Read More >
New Delhi: The banking regulator is examining suggestions to further streamline credit bureau processes and reduce information asymmetry with lenders, a move aimed at addressing data inconsistency and transparency for customers, said people familiar with the development. "A technical working group has been formed by the RBI (Reserve Bank of India) to address concerns raised by financial institutions related to credit information companies (CICs)," said an executive, who did not wish to be ident ...Read More >
New Delhi: Aadhar cardholders are also facing the threat of cyber fraud, for which protection is needed. Many such cases have come to light when someone else has taken a loan on your Aadhar card, without even getting a clue. People are taking out fake loans by misusing Aadhaar cards, which directly cheats them. If this happened to you too, then you need to be careful in future. Has anyone taken a loan on your Aadhar card in a fake way? Sometimes you only find out after receiving a notice from t ...Read More >
Bengaluru (Karnataka) [India], June 27: Global programmatic media partner MiQ today announced the launch of MiQ Sigma, a groundbreaking AI-powered advertising platform, engineered and created by the innovation powerhouse at MiQ's Bengaluru Center of Excellence (CoE). Also Read | Hollywood Actor Brad Pitt's Home Ransacked in Los Angeles, Police Investigate Burglary. Built by a 300+ member strong innovation team in Bengaluru - one of the largest programmatic CoEs globally, MiQ Sigma reflects Ind ...Read More >
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