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MUMBAI: The bad loan business showed faint but firm signs of recovery in September 2025, as the portfolio of asset reconstruction companies (ARCs) turned positive after two quarters of contraction. The rebound came despite rating agencies predicting a continued shrinkage in the sector, with banks accelerating sales of retail stressed assets to clean up their…
Coins pour out of piggy bank, enough for chaiwallah to buy Rs 1-lakh scooter WEST MIDNAPORE: A humble tea seller from rural Bengal left many amazed with his act of patience, perseverance and love.Bachchu Choudhury, a resident of Maula village in West Midnapore’s Chandrakona block I, turned heads when he walked into a two-wheeler showroom…
Mumbai: State Bank of India expects corporate credit growth to accelerate in the coming quarters, supported by a Rs 7 lakh crore pipeline of loans. Chairman CS Setty said the bank anticipates at least 10% growth in corporate lending over the next two quarters, even as corporates continue to make large pre-payments.Setty said repayments in…
MUMBAI: The microfinance industry continued to shrink in the second quarter of FY26 even as asset quality improved. As of Sept 2025, the gross loan portfolio stood at Rs 34.56 lakh crore, a decline of 3.8% quarter-on-quarter and 16.5% year-on-year. The moderation reflected the sector’s ongoing shift to risk-based lending and tighter portfolio controls following…
US states and teachers challenge Trump’s PSLF overhaul restricting student loan forgiveness access. (AP Photo) More than 20 Democrat-led US states have launched a legal challenge against President Donald Trump’s new policy reshaping the Public Service Loan Forgiveness (PSLF) programme. The policy, finalised recently by the US Department of Education, could block thousands of teachers,…
NEW DELHI: As the magnitude of cybercrime and the number of its victims continue to rise and has warranted Supreme Court’s intervention, a report prepared by Enforcement Directorate shows that while domestic players have been primarily engaged in digital arrest and other such frauds, Chinese nationals have almost acquired dominance over loan app- and cryptocurrency-related…
Gold loans have become a go-to option for anyone needing quick funds during financial challenges and uncertainties.Whether it’s paying for education, expanding a business, covering personal or medical costs, renovating a home, gold loans offer a convenient solution. With minimal paperwork and speedy access to cash, they are an attractive option, however, many people still…
Jaguar Land Rover will get backing from the UK govt for a 1.5-billion-pound ($2 billion) loan aimed at easing the strain on suppliers hit by a production halt at the carmaker that was triggered by a cyberattack.The loan, to be provided by a commercial bank and guaranteed by UK Export Finance, will be repaid over…
The UK government has announced a loan guarantee of up to £1.5 billion ($2 billion) to support Jaguar Land Rover (JLR) after a major cyberattack forced the carmaker to suspend production at its UK factories, the trade minister said on Sunday.JLR, the Tata Motors-owned luxury automaker, said earlier this month it was hit by hackers,…
PSLF Buyback backlog hits 74,000 under Trump: What US borrowers need to know. (AI Image) More than 74,000 federal student loan borrowers in the US are currently waiting for their applications to be processed under a key loan forgiveness programme, according to newly filed court documents. The backlog, linked to the Public Service Loan Forgiveness…
