Prosecution ruled out in blank cheque bounce cases
Mumbai: The Bombay High Court has held that if a blank, post-dated cheque which has been issued only as a 'collateral security' for a loan bounces, the debtor cannot be prosecuted under...
Thanks to the advent of credit information companies, banks and lending institutions in India have managed to enhance their ability to prudently assess loan applicant's credit-worthiness...
RBI doesn't have info on credit-card defaults charges
New Delhi: The Reserve Bank of India (RBI) does not have any information about "heavy penalties" and "extra-ordinary interest rates" imposed by banks on credit card defaults...
If a rogue recovery agent visits, read him the law
Mumbai: Despite the hue and cry over the issue of recovery agents and the guidelines suggested by the Reserve Bank of India to regulate their activities, the menace fails to die down...
SBI Cards, one of the four largest credit card issuers in the country, saw its non-performing assets (NPAs) fall to 9.77 per cent of total assets as on September 30, against 10.5 per cent at the same time last year...
ICICI to recover credit card dues from salary account
NEW DELHI: In their constant pursuit of recovering dues from credit card customers, banks are empowering themselves with a tool that allows them to ask employers to deduct the outstanding amount from the salary...
MUMBAI: From August 1, you need not think twice before letting your credit card out of sight at a restaurant, petrol pump or any other merchant establishment. The details printed on your card including the card number, expiry date and three-digit card security code (popularly known as the CVV) will...
Credit card payment declines 11% during April-July
MUMBAI: The payments made through credit cards declined by over 11% in the first four months of the current fiscal compared to the same period in 2008-09...
The Reserve Bank of India has frowned on the practice of banks slapping penalty charges on premature repayment of loans, saying it did not approve of such charges. However, it stepped back from any role in actually enforcing its point of view...
How to access your CIBIL Credit Information Report?
You can now access your Credit Information Report (CIR) directly from CIBIL. As you may be aware, your CIBIL CIR is a factual record of your credit payment history compiled from information received from credit grantors. The purpose is to help credit grantors make informed lending decisions - quickly and objectively...
How does CIBIL score affect your creditworthiness ?
Credit Information Bureau of India Limited or CIBIL is the data keeper of the credit record of borrowers. It provides financial information about the credit history of the loan seekers to the lending institutions like banks. Access to the information regarding credit history is granted only to the financial institutions who are member of CIBIL...
Debt Doctors are very common in foreign countries like UK & US. But it is not common in India we expect this will be a reality in India very soon. Debt Doctors help individuals to solve their debt related problems such as home loans, car loans, bankruptcy, etc...
Please refer to the paragraph 172 and 173 of the mid-term review of the Annual Policy for the year 2007-08, a copy of which is enclosed. In view of the rise in the number of disputes and litigations against banks for engaging recovery agents in the recent past... Read More >>