Photo: Business Standard
Paytm Partners With Piramal Financing Company To Provide Digital Loans
Paytm parent One97 Communications announced to join hands with Piramal Capital & Housing Finance Ltd, aiming for an expansion in the distribution of merchant loans. The amount will be beneficial to the small cities and towns of India, with over 300 Indian branches. It will also help drive financial inclusion by bringing access to credit to small businesses and retailers, the digital payments firm says in an exchange filing.
Tags: Digital Payments, Paytm, Piramal Finance, loans and interests, Partnership
Courtesy: Fortune India
Photo: News Indian Express
Delhi: Couple Kill Elderly Woman Over Debt
A couple has been arrested by the police for killing an elderly woman and throwing her chopped body in a canal at Delhi's Najafgrah area. According to the police, the couple had taken a loan of Rs 1 Lakh from the elderly woman and was unable to pay it back. The police believe that the couple murdered the woman in a hope of erasing the debt.
Tags: Elderly Woman, loans and interests, murder
Courtesy: NDTV
Photo: The Indian Express
Centre Rolls Back Order Of Interest Rate Cuts On Small Savings
Union Finance Minister Nirmala Sitharaman on April 1 announced the roll back of recent orders related to the slashing of interest rates on small saving schemes. Taking to Twitter, the FinMin stated that "the rates which existed in the last quarter of 2020-21" shall be continued. Earlier, on March 31, the government had slashed the interest rates on small schemes, including PPF and NSC, by up to 1.1%.
Tags: Finance Minister, business, loans and interests, Nirmala Sitharaman, PPF, NSC
Courtesy: Hindustan Times
Photo: NASVI
'PM SVANidihi' Scheme Registers More Than 20 Lakh Applicants
Under 'PM Street Vendor's Atmanirbhar Nidhi' (PM SVANidihi) scheme, the Centre has received over 20 lakh applications. Launched in June 2020, the scheme provides interest-free loans of Rs 10,000 for street vendors. However, data suggests only 2 lakh vendors have received funds due to slow implementation. The coordinator of National Association of Street Vendors of India said that though the scheme is useful, there is resistance in banks and… read-more
Tags: Street Vendors, India, Aatmanirbhar Bharat, loans and interests
Courtesy: The Indian Express
Photo: The Hindu
Supreme Court Rejects Centre's Proposal On Waiver Of Compound Interest
The Supreme Court on October 5 rejected the Central government's affidavit regarding waiving of compound interest for a six-month moratorium period. The court noted that the affidavit did not address many issues of petitioners, and it was not followed by "consequential orders or circulars" for enforcement. While directing it… read-more
Tags: Central Governmen, Supreme Court, loans and interests, Loan Moratorium Period
Courtesy: NDTV
Photo: Live Law
Union Government Decides To Waive Compound Interest For Moratorium Period
The Centre has decided to waive compound interest on loans of MSMEs for the moratorium period of six months. Besides, loans upto Rs 2 crore by individual borrowers will also be covered under this decision. In an affidavit in the Supreme Court, the government said it has decided to "continue the tradition of hand-holding the small borrowers." It added SEBI has already provided relaxations in norms of recognizing loans as NPA.
Tags: Supreme Court, Central Governmen, Loan Moratorium Period, loans and interests
Courtesy: ANI News
