Posts in tag

interest rates


Online loans are a great way to get easy cash when things get a little tough. As an individual, getting personal loans from the bank can be quite complex and the chances of a positive response are slim. However, with the introduction of personal finance loan apps, you can now apply for personal loans and …

After years of lamentations, the federal government has finally heard the cries of Nigerians. Therefore, the crackdown on loan sharks began. The Federal Competition Commission for Consumer Protection, in conjunction with the Independent Corrupt Practices and Other Related Offenses Commission, the National Information Technology Development Agency and the Nigerian Police, on Friday raided some illegal …

By Adewale Sanyaolu The Federal Competition and Consumer Protection Commission (FCCPC), together with the Independent Corrupt Practices Commission (ICPC) and the National Information Technology Development Agency (NITAD), raided some platforms loan application for violation of consumer rights. Some of the companies attacked included GoCash, Okash, EasyCredit, Kashkash, Speedy Choice and Easy Moni. Leading the raid …

While Nigerians have been quick to embrace digital loan apps, their interest is at exorbitant rates. Loan applications listed on the Google Play Store offering short-term loans are mandated by Google’s policy rules to give borrowers no less than 60 days from date of issue to repay any loan. The three loan apps owned by …

JAPANESE YEN, LEVERAGE LOANS, FEDERAL RATE HIKES – TALKING POINTS Japanese yen outlook bullish on ‘high’ risks in $3 trillion leveraged loan market The low interest rate regime has prompted companies to issue and buy high yield debt securities Fed rate hikes on the horizon could undermine credit-dependent lending stability The Japanese yen could get …

Nowadays, people are increasingly meeting their short term monetary needs by using low cost credit facilities, mainly personal loans. The transformational change in the banking and lending systems has greatly benefited consumers as well as financial institutions. Consumers have won because it allows them to borrow money easily and quickly; technology absorption ensured speed and …

Risks associated with the leveraged loan market are still “elevated” despite marginal improvements in corporate creditworthiness in 2021, top U.S. banking regulators have warned. In a report released on Monday, the Federal Reserve Board, Federal Deposit Insurance Corporation and Office of the Comptroller of the Currency pointed to growing vulnerabilities in a number of sectors …

Our goal is to give you the tools and confidence you need to improve your finances. Although we receive compensation from our partner lenders, who we will always identify, all opinions are our own. Credible Operations, Inc. NMLS # 1681276, is referred to herein as “Credible”. Whether you need money for home renovations, medical bills, …

Home buying has made a comeback after months of uncertainty caused by the second wave of the pandemic in 2021. Consumers seized the opportune moment to buy a home thanks to moderate prices and low interest rates real estate loans. Banks made more home loans, nearly equivalent to pre-pandemic levels in 2019. All of this …

The U.S. Small Business Administration encourages businesses of all sizes, private nonprofit organizations, homeowners and renters to apply for physical damage disaster loans by the Feb. 10 deadline. Anyone in declared counties in Kentucky who suffered damage from severe storms, straight-line winds, flooding, and tornadoes on December 10 and 11, 2021 should apply for the …

NAIROBI: The 14 days given to John Bigingi to repay a loan of 8,200 Kenyan shillings (RM302) had barely passed when he started receiving text messages threatening to call the contacts on his phone and report him as defaulting . “Silence means you don’t want to pay your loan which is already due,” said an …

The Law Enforcement (ED) Directorate has seized funds of more than Rs 72 crore from a Non-Banking Financial Company (NBFC) as part of a money laundering investigation against loan companies based on mobile phone apps that were “full of investment” from China and Hong Kong, the agency said on Wednesday. He said an interim order …

When V. Rajapandian was fired from his job at a heat treatment plant in India, the reason had nothing to do with performance or declining income. Instead, his boss came up with a peculiar explanation: After Rajapandian defaulted on a loan from a mobile app, salvage agents demanded that the factory pay on his behalf. …

Atlanta, GA, Jan.1, 2022 – (PR.com) – Due to the pandemic, U.S. banks have cut lending to record levels and made loan applications longer than before. This has made acquiring loans a challenge for borrowers. In these tough times, private lenders are offering hard money loans and getting approved quickly through their efficient underwriting processes. …

Through Express news service HYDERABAD: The Directorate of Enforcement (ED), investigating the money laundering scam by China-based instant micro-lending companies via mobile apps, seized an additional amount of more than $ 51.22 on Wednesday Rupee crores owned by M / s PC Financial Services (PCFS) Private Limited, a non-bank finance company (NBFC). This is in …

Given the impact of this financial decision, mortgage applicants should be careful about which lender they choose to borrow from and the mortgage application process itself. Although the application process is not very complex, it must be ensured that it follows it to the end and that it meets the prescribed eligibility criteria, which are …

Several media reports point out that online or digital lending platforms are practically an extortion racket, charging an exorbitant interest rate to naive people. It has been alleged that the interest rate goes up to 500% per annum with arbitrary upfront processing fees of up to 30%. As of February 2021, there were around 600 …

It’s no secret that the payday loan industry is booming. More and more people are applying for payday loans online in order to get quick cash approval. As a result, they are able to pay their bills faster and have money in their pockets when they need it most. This article will explain how you …

DUBLIN, December 3, 2021 /PRNewswire/ — The “Business loan applications in India: Finding information to improve the customer experience” report has been added to from ResearchAndMarkets.com offer. The digital lending market is expected to show accelerated growth between 2019 and 2025. The digital lending market in India is about to go from $110 billion in …

New Delhi: According to a recent estimate by the Reserve Bank of India, there are over 1,100 online loan applications available in India on various internet platforms. Surprisingly, over 600 of these apps for Android users in India were illegal and they were distributed to over 80 app stores. A task force established by the …

The Reserve Bank of India, in a recent report, revealed that in India, about 1,100 online loan applications exist on Internet platforms. However, shockingly enough, as many as 600 of these apps for Android users in India, operating in over 80 app stores, were illegal. Proposing stricter regulations for these digital lending apps, a task …

Lenders take a variety of factors into account when assessing loan applications. Some of these major factors include credit score, monthly income, job profile, employer profile, etc. loan seekers. Those who do not meet the thresholds set by lenders may have their loan application rejected. Here are some of the ways to minimize the risk …

Business Wire IndiaIn an emergency, you may need short-term funds. In such cases, the instant loans available online in the form of personal loans are the best option. Instant loans can be obtained online through personal loan offers from traditional banks or financial technology companies. While personal loans from banks used to take days or …

Nigerian loan apps that send messages to their debtors’ contacts could be sued for privacy breaches in the future. In an announcement last week, the National Information Technology Development Agency (NITDA) said it had received 40 petitions from the public about companies abusing user data and it appears the agency has started donating following these …

Firms borrowing in the U.S. lending market are finally pulling away from Libor, just months before the scandal-stricken benchmark index that underlies trillions of dollars in financial instruments. is no longer available for new transactions. A handful of companies have now borrowed money using the widely accepted replacement for Libor called Sofr, according to data …

Portland, OR, October 27, 2021 (GLOBE NEWSWIRE) – According to the report published by Allied Market Research, the mortgage market generated $ 7,968 billion in 2020, and is expected to reach $ 23,121 billion by 2030, witness a 11.3% CAGR from 2021 to 2030. The report offers a detailed analysis of changing market trends, major …

Online Payday Loan Options You Should Think About When You Need To Take A Loan You are looking for a quick profit, but you have heard of payday advances. They are often an option, but are both a good suggestion? Not really . Online payday loan providers are notoriously expensive for customers. Read on for …

Getting out of debt is a long and complex process. Before you consider applying for a consolidation loan, start with a debt repayment strategy. There are many popular ways to pay off debt, but we recommend that you compare the snowball against avalanche strategies because they are designed to use your natural motivations to stop …

introduction On July 29, 2021, the American Alternative Benchmark Rates Committee (“ARRC“) announced that it formally recommends CME Group’s guaranteed overnight rate (“SOFR“) forward rate (“SOFR Reference Rate CME Term” Where “SOFR term”) For adoption by market players. This recommendation marks an important step in the transition of the US dollar (“USD”) London Interbank Offered …

If you are looking for a new way to finance the home or car of your dreams, you may want to consider dealing with online loan companies. With an average online loan varying between $ 500 and $ 5,000 at any given time, this is no easy task. An online loan can be your ticket …

The Nigerian fintech space is growing exponentially, attracting the attention of foreign and local investors and attracting new entrants in the various subsectors of the ecosystem. Many of them have found gold by offering unsecured loan facilities to Nigerians, but at staggering interest rates. Of this cohort, it would appear that some met and agreed …

The obvious assertion that 2020 has been a year of unprecedented challenges needs no explanation. Much like other industries, the leveraged loan market felt the impact of the Covid-19 outbreaks and lockdowns (particularly in the first and second quarters), as global travel ceased and businesses of certain sectors have come to a standstill, making due …

Balance transfers have proven to be a preferred option for foreign banks because they are easier to find. They are also considered to be more secure because the lender gets an overview of the borrower’s repayment history. Taking advantage of record interest rates and higher housing affordability, foreign banks operating in India are aggressively entering …

A personal loan is an emergency fund that gives you money to meet big expenses related to education, marriage, vacations, home renovations, or anything else. Over the years, the number of individuals applying for a personal loan has increased. As a result, banks have become more vigilant about the loan approval process. With that said, …

“I thought if this doesn’t stop, the next step for me will be suicide,” Nama Karan, 26, from Indore told Media. It all started when he installed an instant loan app in October 2020 after seeing an ad on Youtube. Faced with financial difficulties, Karan took out a loan of Rs. 3000 with a repayment …

During the pandemic, as debts grew, app representatives got mean as Ajith and another businessman Rajeshkumar KR found them in horror. Several borrowers posted their experiences using the hashtag #OperationHaftaVasooli on Twitter and Facebook. Rajesh delayed his payment due to technical issues. He spoke to the app rep, who assured him of a one-day extension. …

Ownership is a valuable asset that can provide you with a variety of financial benefits. Whether you want to buy one to invest or are looking for a new place to move into, financial institutions offer various benefits and offer several loan options. However, before you apply for a home loan, you need to make …

Bank of America has started marketing the first leveraged interest rate loan that is set to replace Libor, a milestone for the industry as it moves away from the disgraced lending benchmark. The American bank helped set up a $ 3.25 billion financial package that includes a syndicated loan of $ 750 million based on …

Digital loans are expected to triple to $ 350 billion by 2023 and reach a total of $ 1,000 billion in the five years since 2019, according to estimates by the Boston Consulting Group. India’s digital loan market is emerging as a battleground for companies from Facebook Inc. to Xiaomi Corp., looking to gain a …

India’s digital loan market is emerging as a battleground for companies from Facebook Inc. to Xiaomi Corp., looking to gain a foothold in what is expected to be a trillion dollar industry. Facebook said this month that India would be the first country to roll out its small business loan program offering loans through a …

India’s digital loan market is emerging as a battleground for companies from Facebook Inc. to Xiaomi Corp., looking to gain a foothold in what is expected to be a trillion dollar industry. Facebook said this month that India would be the first country to roll out its small business loan program offering loans through a …

India’s digital loan market is becoming a battleground for companies from Facebook Inc. to Xiaomi Corp., looking to gain a foothold in what is expected to be a trillion dollar industry. Facebook said this month that India would be the first country to roll out its small business loan program offering loans through a partner …

India’s digital lending market is becoming a battleground for companies from Facebook Inc. to Xiaomi Corp. as they seek to gain a foothold in what is expected to be a trillion dollar industry. Facebook said this month that India would be the first country to roll out its small business loan program offering loans through …

India’s digital lending market is becoming a battleground for companies from Facebook Inc. to Xiaomi Corp. as they seek to gain a foothold in what is expected to be a trillion dollar industry. Facebook said this month that India would be the first country to roll out its small business loan program offering loans through …

Obtaining a loan for personal or professional purposes has become a more transparent process; with a smartphone and an internet connection, anyone with a bank account can apply for a loan at any time and receive it instantly, in most cases. Some loan companies even allow you to use a multifunction phone by dialing a …

The Covid-related downturns have hit personal finances and businesses extremely hard, with the idea of ​​’instant money’ at the click of your phone screen being enticing to many. Sensing blood, desperation, and heightened discouragement, loan sharks are now swimming in your devices disguised as seemingly legitimate financial apps to lend and borrow money. But the …

Whether it is during financial difficulties or emergencies, many people today apply for loans for personal and professional purposes, to pay their bills and cover their expenses. Today, the loans are taken out of the reserve and the exclusive responsibilities of the banks. Many lending platforms and institutions now offer quick and easy access to …

Google is stepping up monitoring of loan applications in India. In a July 28 announcement, Google said Indian loan applications will need to complete a “Personal Loan Application Declaration” form and provide supporting documents such as a license from the Reserve Bank of India (RBI) or proof that the app is only an intermediary platform …

On June 30, 2021, President Biden signed a joint resolution of Congress under the Congressional Review Act (“CRA”) to disapprove of the OCC’s True Lender Rule. As a result, the true lender rule is now repealed. The True Lender Rule was published in the Federal Register on October 30, 2020. According to the OCC, the …

The process of obtaining pre-approval can be exciting, but time consuming. Gathering all the relevant paperwork can be overwhelming, but without prior approval you won’t know your borrowing authority and may not be able to make a secure bid on a property. Prospective borrowers may be hoping to streamline the process by avoiding going to …

What are instant loans Instant loans are personal loans that you can apply for online. The money is credited to your bank account in less than two hours. You can avail instant loan online ranging from Rs. 5000 to Rs. 5 lakhs without any documentation. Upon re-registration itself, you can qualify for an instant loan …

A personal loan available on a digital platform or on an app by lenders is called a contactless personal loan. Also called online personal loan, it requires minimal documentation and the loan amount is sanctioned in less time. A key convenience offered by an online personal loan is that the borrower can complete the entire …

Micro, Small and Medium Enterprises (MSMEs) can apply for a 59 minute loan online for amounts up to 10 crore. To help MSMEs in this regard, the Small Industrial Development Bank of India set up a fintech platform called PSB Loans in 59 minutes. MSMEs can get in-principle approvals for their loan applications in less …

The growth of fintech in India has led to the adoption of the concept of digital lending. Digital lenders have made the loan application process easier by simplifying various eligibility criteria. Here are the key things you need to know before applying for a loan online. Steps to apply for a loan online Select the …

Recent arrests of Chinese spies in various states in India over the past 24 months shed light on an interesting covert strategy exploited by the Chinese People’s Liberation Army (PLA) to spy on India – Hawala operators executing money laundering racketeering through online loan and Rummy apps. Recently, the CID’s Karnataka Cybercrime Division dismantled a …

The The Transform Technology Summits begin October 13 with Low-Code / No Code: Enabling Enterprise Agility. Register now! (Reuters) – As the founder of a non-profit consumer rights organization in India, Karnav Shah is used to seeing sharp practices and unhappy customers. But even he was surprised by the sheer volume of complaints against digital …

With everything that is done online, banking has also evolved. With online banking, you can get all banking services from the comfort of your home, plus it’s safer, faster and easier. That being said, many people today apply for loans online. Especially personal loans because they are easy to apply and have lower interest rates. …

People who are considering applying for loans should first check their credit score and try to improve it, if it is low. We have all heard of the need to have a good credit rating to increase our chances of getting our loan applications approved. Most financial experts advise people to maintain a good credit …

NEW DELHI: As the founder of a nonprofit consumer rights organization in India, Karnav Shah is used to seeing cutting edge practices and unhappy customers. But even he was surprised by the sheer volume of complaints against digital lenders in recent years. While most of the grievances relate to unauthorized lending platforms misusing borrower data …

As the founder of a non-profit association for the defense of consumer rights in India, Karnav Shah is used to seeing sharp practices and unhappy customers. But even he was surprised by the volume of complhavents aghavenst digital lenders in recent years. While most grievances are aboutside unauthorized lending platforms misusing borrowers‘data or harass them …

Instant personal loan through apps has grown, bringing a whole new borrowing experience Tired of applying for personal loans, but no luck? Did you take a pay cut this month? Whatever the reason, more and more people of all ages are turning to instant loan applications these days for their urgent need to finance their …

With reduced interest rates and motivated sellers, homeownership has never been more accessible. However, very few of us are able to finance the purchase without the help of a home loan. And while Ooba Home Loans reports that 80.7% of its applicants successfully secured home loan financing in the first quarter of 2021, 15% of …

The changes would be automatic when the repo rate changes. By Chaitali Dutta I want to prepay my mortgage. I work overseas and cannot visit India due to Covid. Can I pay the full amount online and ask the bank to send me an electronic copy of my papers at home?—Amit KhannaYes, it is possible …

The Enforcement Branch tied ₹ 76.67 crore to various bank accounts and payment gateways linked to some Chinese loan application companies and their Indian associates. The ED’s money laundering investigation is based on various cases recorded by the Bengaluru police, following complaints from several people who had used loans through the apps and were subsequently …

Bangalore: The Directorate of Enforcement (ED) has attached a crore of Rs 76.67 in various bank accounts and payment gateways belonging to Chinese loan application companies and their Indian associates. The interim seizure order was issued under the Prevention of Money Laundering Act 2002 (PMLA). The agency opened an investigation on the basis of various …

This content was published on May 6, 2021 – 10:21 AM May 6, 2021 – 10:21 AM (Bloomberg) – European loan issuance by companies has fallen since last year’s record rush for liquidity, as borrowers turn to better terms offered on other types of debt such as bonds . Loan sales for Europe, Middle East …

Are you good with your money? Good for you, you are an anomaly. Figures reveal that thousands of Kenyans are listed by CRB for as little as KES 200 in delinquent loans. Many of us have HELB debt of over KES 200,000. It is a considerable amount of money. And the country, for context, owes …

Mangalore: Last year India faced aggressive measures from China in border areas. Despite the disruption and distractions posed by the Covid-19 pandemic, India has raised the stakes for China and forced it into a retreat. However, India must also focus on building its capacity to deter the non-traditional threats that are simultaneously emerging from China. …

The Hindi films of yesteryear portrayed the pawn shops as evil characters, whose sole purpose in life was to torture the righteous hero who is unable to repay the loan his father took. A little later, they declared that bank loans are not available to everyone, so poor villagers are trapped in the hands of …

Google’s policy that will prevent apps from accessing high-risk information from other apps This policy may seriously affect Indian digital lenders who rely on data from other apps to assess creditworthiness Google requires developers to explicitly state the reason for acquiring such high-risk permissions from May 5, 2021 Google has announced major changes to its …

NEW DELHI: Applying for a personal loan is easy these days. You just need to fill in the basic information online and with a few clicks, your loan is approved. However, on the other hand, the unsecured nature of the loan prompts lenders to take a cautious approach when approving personal loan applications. Here are …

OKash is one of the digital lending platforms for Kenyans. Just a few months after its launch, the app has become one of the most downloaded on the Google Play Store. Now reports say OKash has disbursed loans of around $ 1 million (around Ksh100 million). If you want a piece of this pie, you …

Fast Money aims to remake the motorcycle securities lending market Interest rate almost half of the current mark Mr Vitai, on the left, said the new financial services would be available at 500 GSB branches by May. The joint venture between Government Savings Bank (GSB) and SET-listed Srisawad Corporation Plc (SAWAD) has earmarked baht 20 …

Online loan apps are gaining traction with features like personalized repayment plans, minimal documentation, low interest rates, and quick disbursement. Previously, one of the biggest challenges people faced was accessing quick loans. You had to go to a bank, get relevant information, and provide collateral before getting a loan. This process was not only tedious …

HYDERABAD: A majority of money lending apps and businesses have their roots in Bengaluru, Mysuru, Mumbai and Pune and efforts are being made to catch the culprits, the Telangana government said. State government special advocate A Sanjeev Kumar said this to a bench of Chief Justice Hima Kohli and Judge B Vijaysen Reddy hearing a …

The fintech industry has made the lending process easier, faster, and simpler, replacing the tedious financial practices of traditional financial institutions with technological intelligence, sophisticated algorithms, complex analytics, and machine learning. Simple online loan application, no collateral requirements, and disbursement of funds in less than a week has dramatically improved access to funds. The system …

TORONTO, March 17, 2021 / PRNewswire / – New Canadian retail finance startup FIX4 Capital has joined the ‘buy now, pay later’ boom by offering instant online loan approvals so clients can take advantage of flexible payment solutions for any car repair and maintenance estimate. With no credit check or income verification required, customers can …

WWhether you need to get a mortgage with your spouse or finance an inventory with a business partner, a co-borrowing deal can be a useful solution. These joint loans allow borrowers to share the direct benefit of the loan while sharing the repayment responsibility. Applying for a loan from a co-borrower also improves your chances …

TORONTO, March 17, 2021 /CNW Telbec/ – New Canadian retail finance startup FIX4 Capital has joined the “Buy Now, Pay Later” boom by offering instant online loan approvals so customers can take advantage of payment solutions flexible for any car repair and maintenance estimate. With no credit check or income verification, customers can instantly find …

OKCash The app, according to its apk file, grants loans of up to Rs 1 lakh with an interest rate of up to 36% and shares its address with Snapit Loan in Bhandup West. But it is managed by another company, Barico Technologies Pvt., Which does not file any files in the Republic of Congo. …

Bombay: The Reserve Bank of India (RBI) reached out to Google, the Digital Lenders Association (DLAI), the fintech association FACE and several non-bank lenders for information on how to regulate digital lenders, three people familiar with the report said. development. RBI’s Digital Lending Task Force has asked Google for details on its criteria for integrating …

The Indian mortgage market is experiencing intense competition with banks and non-bank financial companies vying for a share of the safest credit segment. This, along with the favorable interest rate regime, is starting to put pressure on the spreads earned by housing finance companies (HFCs). According to analysts at Nomura Financial Advisory and Securities India …

Lying about a loan application may seem harmless at first – after all, a lender may not even verify your inflated income application or current employment status. However, intentionally lying on a personal loan application is considered fraud, and it can have real consequences. Below, we’ll take a look at how lenders verify the information …

While Tesla’s skyrocketing bitcoin assets have caught the attention of investors, one old-fashioned way has quietly seen a surge in the Covid-19 era: auto loans. Auto loan-backed bond prices have reached multi-year highs. The riskiest groups of triple-B back-to-back bonds, according to JPMorgan, are now trading with yields only 0.7 percentage points higher than treasury …

Hyderabad: Taking harassment of borrowers seriously by lenders operating through loan apps, the Telangana High Court on Thursday ordered the state police chief to take action to block or remove said lending apps from stores and other platforms by approaching the relevant officials of the providers of these applications. A division bench comprising Chief Justice …

Hyderabad: Google has removed around 100 instant online loan applications from December 2020 to January 20, 2021, the central government said. It comes after several cases of “suicides” were reported in Telangana, Andhra Pradesh and other Indian states due to harassment from online pawn shops. The Department of Electronics and Information Technology has seized Google …

The Telangana High Court on Thursday called on the chief police officer to take immediate action to ensure cell phone lending applications were blocked. Hearing a PIL plea on the cases of some citizens ending their lives due to harassment from loan application operators, the HC asked the DGP to contact the sources from which …

While loan sharking, charging astronomical interest and disguising it as processing fees (to beat the loan sharking law) continue to wreak havoc among desperate borrowers, the Union government has washed its hands on the question. In a written response to the Lok Sabha, the Ministry of Electronics and Information Technology (MeitY) states that police and …

Kakao Bank, South Korea’s second-largest internet-only lender, will expand lending to people with low to moderate credit scores and make a foray into the business lending arena during the year, the CEO of Kakao said on Tuesday. the society. Yoon Ho-young, CEO of the lender, told reporters that loans for low- and medium-credit borrowers will …

Hyderabad: A month after Telangana police began cracking down on illegal instant loan applications following the suicide of five people, the investigation showed a deeper Chinese connection to the scam. After arresting at least four Chinese nationals for using illegal apps, cops are now investigating the roles of other Chinese. In the latest incident, Cyberabad …

Investigating authorities have also ordered payment gateways such as Razorpay and Paytm to stop processing transactions through those apps. About 95% of money lending apps use Razorpay as payment gateway, report says This month, RBI formed a task force to propose regulatory measures to promote the orderly growth of digital lending. As scrutiny intensifies into …

This article is a Press brand Publish. Press brand is a paid service for brands that want to directly reach Techpoint Africa’s audience. The Techpoint Africa editorial team does not write Brand Press content. To promote your brand through Brand Press, please send an email [email protected] Cash-strapped Nigerians are cushioning the effects of a tough …

The scourge of predatory loan applications is not unique to India. Other low-income countries, including Kenya and Nigeria, have also been targeted. Instant loan apps also gained popularity in China in 2016. Next, students turned to borrowing from predatory lending apps, with a number of people committing suicide after being publicly humiliated. In the Chinese …

Instant loan apps offer quick and easy loans without collateral, but many of these apps operate without any regulatory oversight. In fact, some of these apps turned out to be run by Chinese nationals, processing transactions worth millions of dollars. The latest arrest in such a case was made by Rachakonda police in Telangana on …

Bombay: Google has started removing money lending apps that do not comply with the country’s banking regulations from its Android Play Store following instructions from the Reserve Bank of India (RBI) to monitor the glut of hosted fintech apps. on the platform of the search giant. In an exercise that began Wednesday night, more than …

Speaking to the assembly on Tuesday, Industry Minister EP Jayarajan said 63 cases had been registered and the Criminal Branch was investigating two cases. The government of Kerala proposed to formulate a law to curb loan applications after irregularities associated with these applications were brought to its attention. Industries Minister EP Jayarajan said on Tuesday …

The State Bank of India (SBI) has warned against loans offered by unauthorized digital platforms, with mobile apps promising a quick and hassle-free process. “Beware of scam instant loan applications! Please do not click on any unauthorized links and do not provide your details to an entity masquerading as SBI or any other bank. Visit …

Madurai’s Madras High Court on Wednesday ordered Center and State notification of a PIL petition to ban online instant loan applications. The petitioner, Madurai’s lawyer S. Muthukumar, complained that the apps were not regulated by RBI and that companies were charging outrageous interest rates. He said several people have taken their own life as a …

When Ramesh (name changed) borrowed money from one of the app-based instant loan finance companies a few months ago, had no idea his life would turn into misery? Having failed to repay the loans on time, his wife began receiving “calls threatening her husband’s imprisonment” from lenders. Yes, the lender’s “women” are targeting to recover …

TRAVERSE CITY – Federal loans once used to electrify rural parts of the United States could fund Traverse City Light & Power’s efforts to complete construction of its fiber-optic network. City commissioners on Monday unanimously agreed to support the utility’s request for an $ 18 million rural utility loan from the United States Department of …

Undeterred by the police investigation into app-based loan finance companies, loan collection calls made to customers are ultimately forcing them to end their lives. On Saturday, G. Chandra Mohan, 36, a private warehouse supervisor, committed suicide at his home in Gundla Pochamma, Pet-Basheerabad village in Medchal-Malkajgiri district, about 30 km from Hyderabad. This is the …

An employee of the Telangana Department of Agriculture and a software engineer died by suicide last week after being humiliated and blackmailed by callers and debt collectors from a mobile app instant loan company. Their personal details were posted by the company on social media and called them defaulters and used abusive language. What is …

A personal loan is a boon to the borrower as it can be used in an emergency or when faced with a lack of funds. Since the loan has no end-use restrictions, the amount can be used to fund a wedding, travel plans, medical needs, or pretty much anything under the sun. You can even …

Cyber ​​Crime Police Station, Cyberabad has recorded eight cases against these loan applications. Rangareddy (Telangana): A Chinese national and three gang members have been arrested in an instant loan app fraud case in Cyberabad. Cyberabad Cybercrime Police raided a call center named “Cubevo Technology Private Limited” (Skyline) located in the city run by a Chinese …

The Central Crime Branch (CCB) of Greater Chennai Police has issued a notice urging people not to provide access to loan applications and notify the police if they fall prey to such online fraud. Police said there were about 60 unauthorized online loan applications on Google Play Store, which are not registered or recognized by …

MUMBAI: Following cases of suicide Regarding alleged harassment by debt collectors of entities that provided loans on mobile apps, the RBI has warned against such lending and called on aggrieved NBFC borrowers to file complaints on its portal. “There have been reports of individuals/small businesses falling prey to an increasing number of rogue digital lending …

Taking seriously the various mobile application companies that offer instant loans, Telangana Police said on Friday that there are at least 60 such loan applications available on Google Play Store which are not registered or recognized by the Reserve Bank of India as NBFC and their operations were illegal. Response from Telangana DGP office comes …

Written by Amit Agarwal Much of the Millennial population realized the value of homeownership during the pandemic, and many others saw it as a good investment opportunity with price stability and great discounts for builders. . The idea is to invest in a house, either to live there or to turn it into an asset …

CashJeep is an online loan service aimed at helping Filipinos improve their lives. We are committed to providing fast, quality and convenient service anytime, anywhere. Not all trips have a defined reward. But at CashJeep, we assure you that every step you take on your journey will have guaranteed rewards. Why choose us?Fast and easyWe …

Bank South Pacific (BSP) clients will no longer need to go to a branch to apply for a personal loan, as everything can now be done from the comfort of their home or office. Dennis Konu, deputy general manager of customer experience and support, said this was made possible by the launch of the latest …