Tata got a loan of Rs 56,000 crores for Rs 35,000 crores. So, Tata is happy. Bhushan Steel is also happy because it is absolved of the loan. But the bank has lost Rs 21,000 crores! And this Rs 21,000 crores is people's money. … [Read more...] about ‘Nationalise all private banks!’
RBI has taken a slew of measures, including a 75-basis points cut in the repo rate, in the wake of the situation arising out of the outbreak of coronavirus, which has infected more than 1,250 people and has claimed over 30 lives so far in the country. … [Read more...] about Banks turn a deaf ear to RBI diktat staying EMIs for 3 months
It was manic Monday as the stock market bears ran riot with coronavirus cases rising in India and abroad, taking lives and forcing businesses to shut down. Along with that a ceaseless dumping of stocks by the foreign investors is also weighing on investor sentiments. BSE flagship Sensex dived 1,375 points to 28,440.32. NSE barometer Nifty fell 379 points to 8,281. Here are the top factors that dragged D-Street lower: Coronavirus crisis deepensTotal cases of coronavirus in India surged above 1,100 increasing the worries of community contagion, which would lead to an exponential growth in the number of patients. As per government data, there were 942 active cases while 20 patients succumbed to Covid-19 and 99 have been discharged from the hospitals. World over, the number of cases has climbed to 7,13,740 as per a tally by John Hopkins University. The US is most affected with a number of cases above 1,43,000. Italy has recorded the most deaths at 10,779. 'Act of God’? With … [Read more...] about Sensex crashes 1,375 points: What drove D-Street lower on Monday?
mutual fund investors have received SMSes from their lenders reminding them that they need to maintain sufficient balance on the due date. Among others, such messages have been received by people who have taken personal, auto and home loans. An SBI Cards customer from the city received an SMS on Sunday asking him to pay the minimum balance for payment on the annual charge even though the person is yet to activate his credit card. On Saturday, a Navi Mumbai homemaker who has a monthly investment plan from ICICI Lombard received a message asking her to maintain the EMI amount in the bank account. On Sunday, her husband got a call from his insurance broker regarding payment towards a plan taken from HDFC Ergo. An American Express credit card customer from the city also received a payment reminder on Monday. When contacted, a public sector bank official admitted that such messages are being sent to customers as the moratorium decision has to be approved by the board of each lender but … [Read more...] about Are you getting an EMI reminder? Confusion prevails over three-month moratorium as many borrowers, credit cardholders get SMSes