Disbursements of Paytm loans increase threefold to Rs 12,554 crore in the March quarter.

As reported in a stock exchange statement made by parent company One97 Communications on Wednesday, loan disbursements for the quarter ending March 31 increased more than threefold year over year to Rs 12,554 crore. While providing an update to the exchanges on its operational success, One97 Comm...

The Debt Cancellation Application for Student Loans is Now Available

Vice President Joe Biden recently announced the launch of a website designed to streamline the cancellation of student loans. After going live on Friday, the website was flooded with more than 8 million loan applications.

President Joe Biden said on Monday that borrowers can begin apply...

Here's where you can apply for Biden's program to cancel student loans: So, here's the deal:

The application for President Joe Biden's one-time debt forgiveness for students with student loans is now available online. Here is where applicants for loans can do so.

It appears the federal government is confident it can deliver on its massive debt cancellation campaign promise ...

CHINA’S WEALTH MANAGEMENT PRODUCTS & PROPERY LOANS RISE IN Q1

Highlights –

• China’s wealth management products & property loans rise in Q1.
• At the end of March, China’s banking system had about $3.87 trillion of outstanding wealth management products.
• China's outstanding prope...

S. KOREA’S 5 MAJOR BANKS REPORTS RISE IN MORTGAGE LOANS IN MARCH

Highlights –

• S. Korea’s 5 major banks reports rise in mortgage loans in March.
• The combined mortgage loans from the 5 banks were more than 3 trillion won range.
• The banks’ outstanding unsecured loans came to 135.4 trillion...

S. KOREA FSS REPORTS CREDIT CARD FIRMS COMBINED EARNINGS TO RISE 23.1%

Highlights –

• S. Korea FSS reports credit card firms combined earnings to rise 23.1%.
• The combined net profit of eight card issuers came to $1.8 billion in 2021.
• The increase was attributed to combination of earnings from card loans an...

S. KOREAN BANKS’ HOUSEHOLD LOAN GROWS; LOAN DELINQUENCY RATE

Highlights –

• S. Korean banks’ household loan grows; loan delinquency rate.
• Local households’ outstanding bank loans increased to $88.5 billion.
• The rate for bank loans more than 30 days overdue stood at 0.31 percent in Jan...

‘US OWES INDIA $216 BILLION IN LOAN' SAYS CONGRESSMAN ALEX MOONEY

Highlights

• The same debt in the year 2020 was $23.4 trillion, meaning $72,309 per person

• This statement from Mooney came on the floor of the US House of Representatives as he and others were opposing the newly proposed stimulus package worth $1.9 trillion

S. KOREA’S HOUSEHOLD CREDIT GREW BY $1.55 TRILLION IN Q4 2020

Highlights –

• S. Korea’s household credit grew by $1.55 trillion in Q4 2020.
• Mortgage loans rose by 20.2 trillion won on-quarter to 910.6 trillion won in Q4.
• Loan demand to buy stocks also rose due to the country's bull stock...

BIDEN: CANNOT FORGIVE $50,000 OFF STUDENT LOANS

Highlights:

•             Democrats have always pushed for student loan forgiveness for years

•             Biden takes a stand and no to forgivene...

JAPAN REPORTS THE LOWEST CORPORATE BANKRUPTCIES IN 2020 AMID PANDEMIC

Highlights –

• Japan reports the lowest corporate bankruptcies in 2020 amid pandemic.
• The decline in bankruptcies could be attributed to the government’s interest-free loans etc.
• Information and communications posted a 22.1 percen...

ENTERPRISE SINGAPORE LENT LOANS TO MORE THAN 20000 FIRMS 

HIGHLIGHTS

• Among March and December, a year back, about S$17.4 billion in advances were contacted more than 20,000 firms under plans maintained by Enterprise Singapore (ESG), familiar and updated with handling troubles introduced by the COVID-19 crisis

WELLS FARGO SELLS ITS $10 BILLION PRIVATE STUDENT LOAN PORTFOLIO

Highlights

• This move comes at a time in the middle of a directive under CEO Charlie Scharf to bring down the expenses and retrench the San Francisco based banking firm into its core businesses

• Wells Fargo announced this decision on December 18 after notifying all...

CHINA LOANS $1.5 BILLION TO PAKISTAN TO PAY THE MONEY IT OWES TO SAUDI ARABIA

Highlights –

• China loans $1.5 billion to Pakistan to pay the money it owes to Saudi Arabia.
• China has not provided the loan to Pakistan from its State Administration of Foreign Exchange.
• China and Pakistan have instead agreed to incre...

JAPAN’S LDP APPROVE TAX REFORM PACKAGE FOR FISCAL 2021

Highlights –

• Japan’s LDP approves tax reform package for fiscal 2021.
• The planned tax cuts on home and car purchases will continue to remain.
• Private sector asked to work towards carbon reduction and digitalization with revision...

SUBSIDIES FROM GOVERNMENT TO PEOPLE OVER HOMES, LOANS OVER UAE’S NATIONAL DAY

HIGHLIGHTS

• UAE’s National Day on December 2, Abu Dhabi's administration is allowing $2 billion (7.2 billion dirhams) worth of lodging advances, homes, and land for more than 6,100 residents in the United Arab Emirates, the Abu Dhabi Media Office
...

STORY BEHIND K-DRAMA CLICHES AND KOREAN NAMES TO KOREAN RESTAURANTS’ FREE SIDE DISHES

• There are a few eye-popping questions to do with South Korea and its incredulous titbits.
• They include the mystery of the Pepsi logo on the South Korean flag? Why do all Korean names have only three syllables?" "Why do I age a year, or even two when I land on Korean s...

CHINA OFFERS FINANCIAL AID IN CARIBBEAN FURROWING AMERICAN BROWS

• China has offered financial assistance to Jamaica in the form of loans and expertise to build miles of new highways.
• Throughout the Caribbean, it has donated security equipment to military and police forces, and built a network of Chinese cultural centers.

It ...

JAPAN'S GOVERNMENT BACKED SMALL LOAN SYSTEM SEES SERIES OF APPLICATTION CANCELLATIONS

Highlights –

• Japan's government-backed small loan system sees a series of application cancellations.
• In September two foreign men were arrested on suspicion of defrauding the same.
• The two accused men were from Nepal.
• T...

CONSULTANTS TO CHECK FRAUD SURROUNDING COVID-19 RESCUE LOANS

HIGHLIGHTS

• The BBB wants to examine the recipients of its emergency loans amid the COVID-19 lockdown. 
• Professionals from RSM and KPMG have been hired by the bank to investigate the loans and uncover cases of fraud.
• Some firms receivin...