loans

Students whose parental income is less than Rs. 4.5 lakhs per annum and are enrolled in recognized technical & professional courses, after class twelfth, in India are eligible under the scheme. Educational loans of such students disbursed from 1st April 2009, irrespective of date of sanction are eligible for interest subsidy. Full Article

The cost of educating our children is rising consistently. It's a matter of concern for all of us. One relief is the tax benefit provided for spending on children's education. The Income Tax Act provides a direct deduction on account of fees paid for the education of dependent children. The act also provides for deduction on account of interest on loans taken for higher education of children. Full Article

Even as India has been cited as an example of prudential banking norms, the Reserve Bank of India (RBI) today said some lenders are not monitoring effectively use of loans by borrowers, which is facilitating diversion of funds. This came to light whe Full Article

The Reserve Bank of India (RBI) has once again advised banks and financial institutions to ensure that all information relating to charges or fees for processing of loans should be disclosed in the loan application forms. This is applicable to all lo Full Article

Where assessee is engaged in trading in share of other companies, the business carried on by the assessee will be in nature of speculative business and profit or loss arising therefrom will be the speculative profit/loss. Full Article

Ministry of Human Resource Development has proposed to introduce a scheme for full interest subsidy during the period of moratorium on loans taken by students belonging to economically weaker sections from the banks under the Education Loan Scheme of the Indian Banks’ Association (IBA) for pursuing any of the approved courses of studies in technical and professional streams from recognised institutions in India. Full Article

British newspaper The Independent reported that the banks include HSBC, Royal Bank of Scotland, Lloyds Banking Group, and Standard Chartered. The banks' total loans to Dubai World exceeds US$ 30 billion. Full Article

In view of large increase in credit to the Commercial Real Estate (CRE) sector over the last one year and the extent of restructured advances in this sector, it would be prudent to build cushion against likely non-performing assets (NPAs). Accordingly, it has now been decided to increase the provisioning requirement for advances to the CRE sector classified as ‘standard assets’ from the present level of 0.40 per cent to 1.00 per cent. Full Article