Tag Archives: Debt

Delays in debt recoveries irk Bombay HC; asks Finance Ministry to enhance Debt Recovery Tribunal

The Bench was irked noticing a near 20-year delay by DRT. Omkar Gokhale The Bombay High Court (HC) recently observed that it is useless to say the economy will grow when funds of banks and financial institutions are stuck due to delays in resolution of cases in forums due to lack of staff and infrastructure. Noting this, the HC directed ... Read More »

Azimo, the money transfer service, secures €20M debt finance from the European Investment Bank

Azimo, the money transfer service that is HQ’d in London but has the majority of its staff based in based in Poland, has secured €20 million in debt from the European Investment Bank (EIB), the lending arm of the European Union. The financing is supported by the European Fund for Strategic Investments (EFSI), the financial pillar of the EU’s “Investment ... Read More »

The Education Department is cancelling $10.8 million in student loan debt for students at two shuttered schools

More than 1,500 former students at two shuttered schools will get a fresh start on their finances after the U.S. Department of Education said it will void their student loans. The department will cancel approximately 4,000 loans for ex-students at the Art Institute of Colorado and the Illinois Institute of Art, amid scrutiny from a Congressional committee and a class-action ... Read More »

Vijay Mallya offers to curtail ‘lavish’ lifestyle to repay debt to banks

Vijay Mallya is willing to curtail his ‘lavish’ lifestyle. (File) A UK court has been told that embattled liquor tycoon Vijay Mallya is willing to curtail his “lavish” lifestyle to satisfy numerous Indian banks trying to recoup some of the nearly 1.145 billion pounds owed to them. Mallya had been sanctioned an “ordinary living expenses allowance” of a maximum of 18,325.31 ... Read More »

SAIF Partners-backed Aye Finance raises $10 mn in debt funding

Non-banking finance company Aye Finance Pvt. Ltd said on Thursday it has raised $10 million (Rs 71 crore) in debt funding from Swiss asset manager responsAbility Investments AG and homegrown firm Northern Arc Capital. Aye Finance will use the proceeds, raised through non-convertible debentures, to boost its loan growth, it said in a statement. This is the 12th such debt ... Read More »

Trump administration stymies release of salary, loan debt data from certain colleges, advocates say

Susan Goldman | Bloomberg | Getty Images File photo of an ITT Technical Institute campus in Anaheim, California. At a recent conference on financial aid, Education Secretary Betsy DeVos said that every school should help its students graduate with high-quality career prospects and little debt. Students should be equipped, she added, with information that allows them to be responsible consumers. ... Read More »

SRF shares tank 14% as profit falls on finance & depreciation cost, debt increases

Shares of chemicals firm SRF plunged by as much as 14 percent on Friday after the company reported a decline in its March quarter net profit and an increase in its debt. The company’s net profit for the March quarter fell 4 percent year on year to Rs 124 crore, dented by higher finance and depreciation costs. Revenue from operations grew 21.5 percent ... Read More »

Shop To Pamper Yourself Without Falling In A Debt

In present times, everyone has a hectic schedule to deal with regularly. After all the hard work, a relaxing time off is what you need. Shopping and pampering yourself tops the list for most people. It is all in good spirit until it starts affecting your finances. Buying and investing in beauty products all the time, gradually become an addiction. ... Read More »

Treat Your Gambling Addiction Before Repaying Your Debt

People with gambling addiction have often fallen in debts. They think that they can gamble more to clear their debt is something a convention between them. They can fall into more debt if they believe it that way. In this manner, the debt goes up to a huge amount that probably may be difficult for you to repay. The loan ... Read More »

Creating A Financial Plan And Consolidating Are The Ways To Pay Off Your Debt

On a study made on debt, households are found more tensed in repaying their health debt. Health issues are something that is found in almost all houses, irrespective of rich and poor. However, since the problems are common in all section of people, the treatments are similar for all as well. That is, one billionaire suffering from cancer needs the ... Read More »