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Tag: Loan

Sri Lanka Seeks 1 Billion Dollar Loan From India
Sri Lanka Seeks 1 Billion Dollar Loan From India

Sri Lanka is currently experiencing a shortage of almost all essentials due to a shortage of dollars to pay for the imports.

RBI Announces Loan Recast For Individuals, Small Borrowers
RBI Announces Loan Recast For Individuals, Small Borrowers

Mumbai: RBI on Wednesday allowed certain individual and small borrowers more time to repay debt and allowed banks to give priority loans to vaccine makers, hospitals and COVID-related health infrastructure…

No Corporate Loan Sanctions, Renewals Without LEI Code: IRDAI

Chennai: The Insurance Regulatory and Development Authority of India (IRDAI) has asked insurers not to grant loan renewals or enhancements if the borrowers do not get the LEI code from the Legal Entity Identifier India Ltd. In a circular, IRDAI has asked insurers and others regulated by it to get the Legal Entity Identifier (LEI) […]

ED questions Chanda Kochhar for fourth straight day

Mumbai: The Enforcement Directorate (ED) on Monday questioned former ICICI Bank CEO Chanda Kochhar for the fourth consecutive day in the ongoing probe into the alleged irregularities and corrupt practices in sanctioning a Rs 1,875-crore loan by the bank to the Videocon Group. Chanda Kochhar’s questioning began at ED’s office after she deposed before the […]

ICICI-Videocon case: Enforcement Directorate raids Kochhar, Dhoot homes

New Delhi: The Enforcement Directorate (ED) on Friday carried simultaneous raids at the residences of former ICICI Bank CEO Chanda Kochhar and Videocon Group promoter Venugopal Dhoot in connection with an ongoing probe into alleged irregularities and corrupt practices in sanctioning of Rs 1,875 crore loan by the bank to the corporate group. The agency […]

Here's why Japan will lend Rs 3,420 crore to India

New Delhi: Japan will be giving a loan of Rs 3,420 crore to India to assist in constructing the Chennai Peripheral Ring Road and for joint efforts towards meeting the UN Sustainable Development Goals (SDGs). “The loan agreements were signed here today (Friday) between the Government of India and Japan International Cooperation Agency (JICA), New […]

Indian Bank says most of its Rs 1,800-crore loan to IL&FS is 'good'

Chennai: Indian Bank, which has lent over Rs 1,800 crore to Infrastructure Leasing and Financial Services Ltd (IL&FS), on Friday said that most of its loans to the crisis-hit company were ‘good’. “The bank’s exposure to IL&FS is Rs 1,809 crore. Out of the 10 loan accounts, six are for special purpose vehicles (SPV of […]

'Debt-ridden' farmer ends life in Jajpur

Jajpur: A debt-ridden farmer of Mangrajpur village under Dharmasala block in Jajpur district allegedly committed suicide late last night by hanging himself with a rope from a tree in the backyard of his house. The deceased, identified as Gauranga Bala was under mental stress as he was unable to repay loan. He had reportedly taken […]

Odisha farmer commits suicide
Bargarh witnesses second farmer suicide in a week

Bargarh: In a span of only five days, another farmer committed suicide in the district allegedly due to crop loss in Tora village under Sadar block here on Monday. On Wednesday, another farmer had killed himself. In the latest incident, family sources said, farmer Akshya Dharei had cultivated paddy over nine acres of his land. […]

Loan Scam
Ex-MLA Bimal Lochan Das gets jail term for loan fraud

Baripada: The Vigilance court here on Wednesday awarded former State legislator Bimal Lochan Das one year jail term and penalty in connection with a loan fraud in Baripada Urban Bank Co-operative Bank. Sources said, the court has also penalised seven others for their involvement in the case. Das had sanctioned lakhs of rupees to different […]

solar power
India, ADB sign loan agreement for solar power transmission system

New Delhi: India and the Asian Development Bank (ADB) have signed a loan agreement to improve the country’s solar power transmission system. “India and ADB have on Thursday signed a $175 million loan agreement to support construction of high voltage transmission systems to evacuate power generated from new mega solar parks to the interstate grid, […]

Man held for duping bank with fake gold in Bolangir

Bolangir: Police today arrested a man in connection with fake and impure gold pledging case at Bolangir. The accused has been identified as Abhimanyu Mohapatra. According to reports, as many as 14 loanees have duped State Bank of India (SBI), Kusang branch of Rs 44 lakh by depositing fake gold as mortgage to get the […]

Brundaban Swain
Farmer commits suicide over loan burden in Aska

Aska: One more farmer identified as Brundaban Swain of Nuagaon under Aska Block in Ganjam district has committed suicide by consuming poison. Swain had consumed poison yesterday morning. He was earlier rushed to Aska hospital and later shifted to MKCG Medical College and Hospital in Berhampur where he breathed his last. Family members of Swain […]

Builders house
Bhubaneswar: Bank seals builder’s house over loan default

Bhubaneswar: Authorities of Gramya Bank’s Dumduma branch sealed the house of a builder today for non-payment of loan. House of Sibani Builder’s Ratikant Kanungo was sealed by the officials after orders from Khurda collector and with the help of Police. According to sources, Ratikant had taken loan from the Gramya Bank by mortgaging his houses […]

Seashore chit fund scam: CBI grills people having link with Pravat Biswal

Bhubaneswar: Some people today deposed before the CBI here today and kept their side in connection with the multi-crore chit fund scam in Seashore Group of Companies while some of them having link with Cuttack-Choudwar BJD MLA Pravat Biswal were grilled by the Central investigating agency. Among those were three contractors who were grilled by […]

Naveen Patnaik (9)
Naveen announces loan @1% interest to women SHG

Keonjhar: Chief Minister Naveen Patnaik today announced that the Odisha government will provide loan at 1 percent interest to women self help groups (SHGs). Addressing a meeting during his one-day visit to Keonjhar district, Patnaik said the Mission Shakti programme has brought in a silent revolution in Odisha as the women in the rural areas […]

Khariff 2016: Prioritise finance for cash crops, Govt tells Collectors

Bhubaneswar: Setting a crop loan target of Rs 6,000 crore for the ensuing Kharif season, the Odisha government has asked Collectors of all the districts to give priority to financing pulses, oilseed, potato and other cash crops. “Financing of remunerative commercial crops and seasonal horticulture crops for which market is really available should be given […]

Loans could become cheaper as India's central bank cuts keys rates

Housing, auto and commercial loans could become cheaper with the Reserve Bank of India cutting key lending rates by 25 basis points in an unexpected move on Wednesday as it expected inflation to soften further, sending stock indices soaring during the bulk of the day