News Analysis India

Tag: Finance

  • Congress loses chairmanship of parliamentary committee on IT, Home; 6 key panels with BJP

    By PTI

    NEW DELHI: Opposition parties have not been given the chairmanship of any of the four key parliamentary panels including the committee on Home Affairs and Information Technology, which were with the Congress, in the latest rejig announced on Tuesday.

    With this, the chair of six major parliamentary committees — Home, IT, Defence, External Affairs, Finance and Health — all are with the BJP and its allies.

    Congress MP Abhishek Manu Singhvi has been replaced by BJP MP and retired IPS officer Brij Lal as the chairman of the Parliamentary Standing committee on Home Affairs.

    Congress MP Shashi Tharoor, who is contesting the party’s presidential polls, has been replaced by Prataprao Jadhav, a Shiv Sena MP from the Shinde faction, as the head of the Parliamentary Panel on Information Technology.

    The Trinamool Congress, which had the chair of the Parliamentary Panel on Food and Consumer Affairs, has not been given the chairmanship of any parliamentary committee after the reshuffle.

    “TMC is the third largest party in Parliament, also the second largest opposition party does not get a single chairmanship. The largest opposition party loses two crucial chairmanships of Standing committees. This is the stark reality of New India,” TMC leader in Rajya Sabha Derek O’Brien said in a statement.

    Samajwadi Party leader Ramgopal Yadav has been replaced as the chairperson of the Parliamentary Standing Committee on Health and Family Welfare.

    The panel on food will be chaired by BJP MP Locket Chatterjee and Health by her party colleague Vivek Thakur.

    Also, the DMK has been given chairmanship of parliamentary panel on Industry which was till now with the TRS.

    NEW DELHI: Opposition parties have not been given the chairmanship of any of the four key parliamentary panels including the committee on Home Affairs and Information Technology, which were with the Congress, in the latest rejig announced on Tuesday.

    With this, the chair of six major parliamentary committees — Home, IT, Defence, External Affairs, Finance and Health — all are with the BJP and its allies.

    Congress MP Abhishek Manu Singhvi has been replaced by BJP MP and retired IPS officer Brij Lal as the chairman of the Parliamentary Standing committee on Home Affairs.

    Congress MP Shashi Tharoor, who is contesting the party’s presidential polls, has been replaced by Prataprao Jadhav, a Shiv Sena MP from the Shinde faction, as the head of the Parliamentary Panel on Information Technology.

    The Trinamool Congress, which had the chair of the Parliamentary Panel on Food and Consumer Affairs, has not been given the chairmanship of any parliamentary committee after the reshuffle.

    “TMC is the third largest party in Parliament, also the second largest opposition party does not get a single chairmanship. The largest opposition party loses two crucial chairmanships of Standing committees. This is the stark reality of New India,” TMC leader in Rajya Sabha Derek O’Brien said in a statement.

    Samajwadi Party leader Ramgopal Yadav has been replaced as the chairperson of the Parliamentary Standing Committee on Health and Family Welfare.

    The panel on food will be chaired by BJP MP Locket Chatterjee and Health by her party colleague Vivek Thakur.

    Also, the DMK has been given chairmanship of parliamentary panel on Industry which was till now with the TRS.

  • Congress loses chairmanship of parliamentary committee on IT, Home; 6 key panels with BJP

    By PTI

    NEW DELHI: Opposition parties have not been given the chairmanship of any of the four key parliamentary panels including the committee on Home Affairs and Information Technology, which were with the Congress, in the latest rejig announced on Tuesday.

    With this, the chair of six major parliamentary committees — Home, IT, Defence, External Affairs, Finance and Health — all are with the BJP and its allies.

    Congress MP Abhishek Manu Singhvi has been replaced by BJP MP and retired IPS officer Brij Lal as the chairman of the Parliamentary Standing committee on Home Affairs.

    Congress MP Shashi Tharoor, who is contesting the party’s presidential polls, has been replaced by Prataprao Jadhav, a Shiv Sena MP from the Shinde faction, as the head of the Parliamentary Panel on Information Technology.

    The Trinamool Congress, which had the chair of the Parliamentary Panel on Food and Consumer Affairs, has not been given the chairmanship of any parliamentary committee after the reshuffle.

    “TMC is the third largest party in Parliament, also the second largest opposition party does not get a single chairmanship. The largest opposition party loses two crucial chairmanships of Standing committees. This is the stark reality of New India,” TMC leader in Rajya Sabha Derek O’Brien said in a statement.

    Samajwadi Party leader Ramgopal Yadav has been replaced as the chairperson of the Parliamentary Standing Committee on Health and Family Welfare.

    The panel on food will be chaired by BJP MP Locket Chatterjee and Health by her party colleague Vivek Thakur.

    Also, the DMK has been given chairmanship of parliamentary panel on Industry which was till now with the TRS.

    NEW DELHI: Opposition parties have not been given the chairmanship of any of the four key parliamentary panels including the committee on Home Affairs and Information Technology, which were with the Congress, in the latest rejig announced on Tuesday.

    With this, the chair of six major parliamentary committees — Home, IT, Defence, External Affairs, Finance and Health — all are with the BJP and its allies.

    Congress MP Abhishek Manu Singhvi has been replaced by BJP MP and retired IPS officer Brij Lal as the chairman of the Parliamentary Standing committee on Home Affairs.

    Congress MP Shashi Tharoor, who is contesting the party’s presidential polls, has been replaced by Prataprao Jadhav, a Shiv Sena MP from the Shinde faction, as the head of the Parliamentary Panel on Information Technology.

    The Trinamool Congress, which had the chair of the Parliamentary Panel on Food and Consumer Affairs, has not been given the chairmanship of any parliamentary committee after the reshuffle.

    “TMC is the third largest party in Parliament, also the second largest opposition party does not get a single chairmanship. The largest opposition party loses two crucial chairmanships of Standing committees. This is the stark reality of New India,” TMC leader in Rajya Sabha Derek O’Brien said in a statement.

    Samajwadi Party leader Ramgopal Yadav has been replaced as the chairperson of the Parliamentary Standing Committee on Health and Family Welfare.

    The panel on food will be chaired by BJP MP Locket Chatterjee and Health by her party colleague Vivek Thakur.

    Also, the DMK has been given chairmanship of parliamentary panel on Industry which was till now with the TRS.

  • A good CIBIL score is the key to getting loan approval quickly

    Personal loans are an effective way to access funds without the need for any collateral. Some of the best personal loans in India give borrowers access to a high-value sanction, completely online and within a matter of minutes. However, this ease of access is dependent on your eligibility, of which one of the main factors is the credit score. Most lenders in India require you to have a minimum CIBIL score of usually 650. Applicants who meet this mark have a much easier time qualifying for these loans. 

    For greater insight into this crucial aspect of a borrower’s financial profile, read on. 

    What is your CIBIL score?

    Your CIBIL score is a three-digit credit score assigned by TransUnion CIBIL Limited, based on data within the Credit Information Report or CIR. It is a score based on the Accounts and Enquiries details within your CIR and it is used by lenders to assess your creditworthiness. Since this credit score is based on your credit history, lenders can estimate the probability of default and accordingly decide on loan eligibility and applicable loan terms. 

    What is the CIBIL score range and how is it relevant to borrowers?

    A CIBIL score can range anywhere between 300 and 900. This is important because it is the first thing lenders assess when they check your loan application. Depending on the type of loan, a CIBIL score higher than 700 and under 750 is considered a fair score and may get you through the door. Anything lower than 700 is a poor score and is likely to lead to loan rejection. On the other hand, a CIBIL score of 750 or higher is considered a good score and it makes qualifying for a loan much easier. 90% of loans granted today tend to be to those applicants who have a CIBIL score of 750 or higher. 

    What are the factors that determine a CIBIL score?

    The CIBIL score is calculated based on 4 key factors, which are:

    Credit mix: Having a balance between secured and unsecured debt is known to have a positive impact on the credit score. 
    Payment history: A credit history that reflects late payments or defaults is likely to lower your credit score.
    Credit utilisation: Those who utilise a high percentage of their assigned credit limit indicate a rising dependency on credit, and this can negatively affect the credit score. 
    Frequency of loan enquiries: An applicant with multiple credit enquiries in a short period comes across as a credit-hungry borrower, which is a red flag for lenders, and every credit application reduces the credit score. 
    How can borrowers build a healthy credit score?

    Here are a few tips that can reliably build a healthy credit score. 

    Use credit in moderation
    Avoid defaulting on payments
    Conduct a credit history review every few months
    Try to maintain a balanced credit mix
    Wait at least 6 months before applying for new loans
    How can borrowers check their CIBIL score?  

    There are multiple online facilities that allow you to check your CIBIL score online. Depending on where you are checking your score, you can even avail of this provision for free. Here are the steps to check your CIBIL score on the Bajaj Finserv website:  

    Start by clicking on ‘Get Your CIBIL Score’
    Enter a few basic details including your name and PAN
    Submit details and verify your profile with an OTP
    Check the credit score and access the credit report.   
    This facility is quick, easy to follow, and grants eligible applicants easy access to their credit score. You can also download your Credit Health Report by paying a nominal fee and get access to your detailed credit profile and learn about tips that can help you improve your credit score.

    That’s not all, depending on your credit profile, you may also qualify for a pre-approved Bajaj Finserv Personal Loan. Get quick approval on loans of up to Rs.25 lakh and use the funds to meet any expense. You can choose to repay the loan comfortably over a flexible tenor that ranges up to 60 months. 

    Further, Bajaj Finserv offers complete loan disbursal within 24 hours of approval, and features like this help it rank high among the best personal loans available in the country. This expedited service makes it a reliable solution, even in an emergency. The offering also has a personal loan calculator to allow you to plan loan repayment effectively and in advance. To access this instrument in a hassle-free manner, check your pre-approved offer by sharing basic personal information. 

    Disclaimer: This content is distributed by Bajaj Finserv. No TNIE Group journalist is involved in the creation of this content.

  • Fast Track Your Home Loan: Get an Instant Digital Home Loan Sanction Letter with Bajaj Housing Finance

    Applying for a home loan has long been tedious, but FinTech advancements are rapidly transforming how we apply and avail of these loans. Of all the steps in the loan application process, getting the sanction letter is the most crucial as it finalizes the maximum loan amount and other key details. Technology has shortened this step quite a bit; for instance, Bajaj Housing Finance Limited accelerates the first few steps of the e-home loan acquisition process, allowing you to get an instant digital home loan sanction letter.

    What is a digital sanction letter for a home loan?

    As the name suggests, a digital sanction letter is the initial approval document provided in e-home loan applications. It is issued before the final home loan agreement and carries essential home loan terms, such as the loan amount, interest rate, and tenor, which are decided on the basis of your home loan eligibility. The letter shortens the loan application process; for instance, with the Bajaj Housing Finance E-Home Loan, you can download your digital sanction letter instantly. Moreover, the letter is valid for 180 days.

    What does the digital sanction letter contain?

    The digital sanction letter contains key home loan parameters and terms, which help fast track the home buying process. The digital sanction letter from Bajaj Housing Finance Limited contains basic details, such as the application number, sanction date, applicant name, and applicant mobile number.

    Important home loan details are also listed there in.

    Loan type
    Sanction amount
    Home loan interest rateLoan tenor
    Processing fee
    Origination fee
    Sanction letter validity
    Other standout features and benefits are also available in the letter.

    Online prepayment facility
    Payment of top-up loan and home loan with 1 EMI
    You also have a list of the documents required for loan processing.

    Identification documents
    Financial documents
    Property documents
    Finally, the digital sanction letter enumerates the Terms and Conditions.

    The digital sanction letter is system-generated and no signature is required for authentication.

    Why a digital sanction letter?

    It’s quicker and more hassle-free to obtain a digital sanction letter compared to a regular sanction letter. You also have an array of other benefits; for instance, you can:

    View essential parameters without delay: Get quick access to key home loan terms, such as the loan amount, interest rate, and tenor
    Decide whether you want a joint home loan: Get a co-applicant on board in case you are unhappy with the home loan parameters, for instance, if you think the amount is insufficient
    Compare home loans: Check how your loan compares against other offerings in the market in terms of the cost and conditions of borrowing
    Start negotiations with your realtor: Begin property discussions with the digital home loan sanction letter as proof of your eligibility
    Bag early-bird real estate deals: Secure an attractive deal with developers looking for early investments much before the project has begun
    Draft a repayment strategy: Chalk out a repayment plan with all important home loan terms available to you well in advance
    Focus on other home arrangements: Devote your time and energy to further plans, such as interiors, since you have some assurance with respect to financing
    Is the digital home loan sanction letter the final loan agreement?

    Having a digital sanction letter is not the same as having the final loan agreement. The sanction letter indicates that your lender is ready to finance your needs, but it is not a 100% guarantee. You need to approach your lender with your digital sanction letter, provide documents, and undertake a few steps before you enjoy the guarantee of credit.

    How to get a digital home loan sanction letter?

    Follow the below steps to get a digital home loan sanction letter from Bajaj Housing Finance Limited.

    Fill the e-home loan online application form by providing personal, financial, and property details
    Review the loan offer generated after the validation of your application
    Pay a nominal fee and download your digital home loan sanction letter
    Once you have your digital sanction letter, you can use it to avail a home loan from Bajaj Housing Finance Limited within the next six months. Get Home loan financing at an attractive interest rate and benefit from a range of features, such as a flexible, 30-year repayment tenor, PMAY subsidies (subject to eligibility norms are met), a quick disbursal. So go ahead and apply online to take the first step to make your housing dreams a reality.

    Disclaimer: This content is distributed by Bajaj Finance Ltd. No TNIE Group journalist is involved in the creation of this content.