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The organised gold loan market is projected to touch Rs 15 lakh crore by March 2026 — a full year ahead of earlier forecasts — as banks tighten their dominance and expand faster than non-banking financial companies (NBFCs), according to a report by rating agency Icra.The agency had earlier estimated in September 2024 that the…
The average long-term mortgage rate in the US fell to 6.3% this week, returning to its lowest level in about a year, mortgage buyer Freddie Mac said on Thursday. The rate on a 30-year fixed loan edged down from 6.34% last week, while a year ago it averaged 6.32%.Rates on 15-year fixed mortgages, often used…
US federal workers have begun to feel the heat of government shutdown as it enters its second week, as many have resorted to even taking loans to cover everyday expenses. Since October 1, hundreds of thousands of federal employees have been furloughed, while others deemed essential, including some military personnel, must work without pay.All work…
Divorces are not just the end of a marriage, but also the beginning of a storm. Beyond the annulment lawyer’s office lies an ocean of emotions, with equal amounts of gloom and anger. Adding to the misery comes a financial slap for both ex-spouses. While men scramble to arrange alimony, women often face upheaval, relocating…
The IMF on Tuesday began formal discussions with Pakistan’s economic officials to review the implementation of a $7 billion loan and a $1.1 billion Resilience and Sustainability Facility (RSF).The review comes as Pakistan’s performance under the programme up to June 2025 has been uneven, Dawn reported according to news agency PTI.Although the power sector targets…
The average rate on a 30-year US mortgage fell again this week, reaching 6.26%, marking the lowest level since early October, amid a decline in long-term Treasury yields and the Federal Reserve’s first rate cut of 2025, mortgage buyer Freddie Mac said Thursday. Last week, the rate was 6.35%, and a year ago it averaged…
Bihar Chief Minister Nitish Kumar The Bihar government has announced that education loans provided under the Student Credit Card (SCC) scheme will now be interest-free for all students. This decision, shared by Chief Minister Nitish Kumar via his official X handle @NitishKumar, aims to reduce the financial burden on aspiring students in the state.In addition…
Lower-income borrowers with limited income are increasingly turning to gold loans instead of microfinance institutions (MFIs) to meet urgent financial needs. Rising gold prices, lower gold-loan interest rates and stricter MFI lending norms are driving the trend. RBI data show gold-backed loans jumped 122 per cent year-on-year until June, while the Microfinance Industry Network reported…
NEW DELHI: Bihar chief minister Nitish Kumar on Tuesday announced that education loans provided under the state’s Student Credit Card Scheme will now be completely “interest-free for all applicants.” The move comes months ahead of the Bihar assembly elections.Sharing the post on X, the Bihar CM said that the decision would “boost students’ morale” and…
