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How to pay your EMIs in difficult times

In these uncertain times, when the world is grappling with the pandemic, people are also falling into debt trap, unable to pay their EMIs. Here are some options to repay EMIs during difficult times: Create and Maintain Emergency Fund The future is always uncertain but it can be at minimal risk with an emergency fund. […]

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How to Deal With The Loan Recovery Process 

With about 21 million people losing their jobs due to the pandemic, according to the Centre for Monitoring Indian Economy, Banks and NBFCs have gone into a collection overdrive resulting in recovery agencies calling double the borrowers than pre-Covid-19. The recovery process usually involves negotiating certain conditions of the loan agreement to help the borrower […]

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Credit Score – How It Makes Your Credit Soar Or Sore

Credit score is a numerical value about an individual’s creditworthiness. This score helps lenders decide how likely a person will repay his/her loans in time. It plays a major role in determining a person’s eligibility for financial assistance in the form of loans. Therefore it is very important to pay one’s bills on time. Deferred […]

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Case Study:Sh. Bhupinder Sondhi v Abn Amro Bank

Sh. Bhupinder Sondhi v Abn Amro Bank Facts of the case: The plaintiff, Sh. Bhupinder Sondhi, had approached the defendant bank seeking financial support to buy motorcar Santro in the February of 1999. A loan of Rs.2,54,000/- was allowed to the plaintiff. The market price of the said car as of 08.02.1999 had been Rs.3,08,504/- […]

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Ishrat Noor v ICICI Bank Ltd.

Facts of the case: The plaintiff was engaged in the business of printing and desired to purchase a commercial vehicle under hypothecation from the bank. Plaintiff had furnished relevant document in order to get a loan for the vehicle (Tavera) which was worth Rs.7,68,000/- The defendant asked the plaintiff for a payment of Rs.40,000/- which […]

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