According to a recent press release, Mr. Pratip Chaudhuri, SBI’s new chairman said that the bank will try to enlarge its market share without having any negative effects on the bank’s margins and profitability. He said that the bank has decided to reconsider its business areas where it has faced problems with the non-performing assets.… Read More »
Recent press reports said that Corporation Bank is expecting its credit growth and deposits to expand by 25 per cent and 22 per cent respectively, in the year2011-12. Mr. Ramnath Pradeep, Chairman and Managing Director of corporation bank spoke to the press about the bank’s expectation on the credit growth and the deposits in the… Read More »
Loan agreements are basically binding contracts between a lender and a borrower that specify the terms and conditions that rule the extension and repayment of the loan. The terms and conditions laid down in the loan agreement are in accordance with the local and national laws prevailing. This arrangement is generally useful for both the… Read More »
When a loan is given by a lender along with it some repayment schedules are also laid down. The repayment schedule may be weekly, monthly or annual. If any of these payments are missed, the loan is said to be defaulted loan. Any defaulted loan will be affecting the credit history of the person who… Read More »
When you borrow money from a close friend, the only thing you have to repay is that amount you borrowed (this is called the principle amount), especially when it is a small amount. Instead you are borrowing from a financial institution, or a bank, and then you will have to repay the original amount plus… Read More »
Credit history is a report which documents anything related to how an individual managed their financial transactions. The Credit Information Bureau (India) Limited (CIBIL) was incorporated in 2000 by the Government of India and the Reserve Bank of India to provide credit information about commercial and consumer borrowers to a limited group of members, including… Read More »
Secured loans are those loans that are protected or backed by an asset or collateral of some kind. The item purchased using such loans, such as a home or a car, can be used as collateral, and a lien can be placed on such purchases. This is kept with the finance company/ bank will hold… Read More »
The cash surrender value is the amount of cash a policyholder gets from the life insurance company if he/she actually surrender/cancel a life insurance policy before its maturity or becomes payable by death . This amount is net of any surrender charges and outstanding policy loans and interest thereon. The cash value of the policy… Read More »
What happens when one puts a rubber ball down on the floor? Simple it bounces back. So what can be a bounced cheque? A bounced cheque is nothing but a cheque that is returned by the bank because the account holder who offered the cheque does not have sufficient money to honour the cheque (do… Read More »
Having a home is everybody’s dream. There are a variety of home loans available today. Choosing the most suitable loan available is the only thing to be done. After a few years of repayment of the loan, the repayment scheme or interest rate may turn out to be unsuitable to a person. The interest rate… Read More »