As a customer how do you check this? Yeh statement me dikhta hai kya?

Business Analyst

Welcome to News Discussion's Private Community

How banks are recovering the big loans !!

Software Project Manager

How banks are recovering the big loans !!- Grapevine

Welcome to Personal Finance's Private Community

I was thinking about this few days back...Today a swiggy employee validated my thoughts so posting here.

Layoffs are mainly in cream jobs(20-30% which is hardly 2-3cr source tax web) and in India mainly home loans or highly consumable loans like car or PL are taken by White collars...As per labour law, we ain't protected like in Korea.

So, if someone or let's say a major chunk loses his or her job then how the system will absorb this default?

Some data...

Fy23 Home loan Size is 20 lac crore or $250B (15% of total loans disbursed by amount)

2030 it's about to touch $1T

Cagr 23% in HL growth 📈

What if defaults rise in dual digit?

Plus exorbitant hike in flat price like literally greater Noida West have 5lac unsold flat but still 10lacs worth flats are being sold at 40-50lacs (poor quality and seelan issues after a month)

PS - Usa and China have seen this. (2008 and ongoing in China)

Home Loan Crisis in India 📈

Senior Consultant

What could they do to undo this downward spiral?

How long before Byjus runs out of funds?

Product Manager

To be very honest I feel very frustrated looking at the situation right now. Companies are laying off without worrying about the employees. It's just corporate profits everywhere.

I am scared to death that my career won't last long than 20 years because the moment these folks think you are becoming a financial burden on them, they'll lay you off.

I don't want to live my life in a constant war mode. The Indian education system has bruised my personality for a long time. I want to relax but looking at this battlefield I can never.

My weekends are spent worrying about planning for finances in case I get laid off. I am worried I won't be able to buy a house.

This shit is depressing me very much. Other folks please tell me how are you navigating this mess?

Soulless Corporations

Mandatory : keep on up skilling 
 Optional :  go outside India or move to operational roles(as it doesn't need creativity bone)  
  
 In your 30's you shouldn't explore stuff, stick with one domain(example : digital marketer) be the SME. In 40s you'll have 10+ years experience of a domain, and you're part of that domains evolution  
  
 No one wil have the know how you gained in 10 years

Program Manager

Software Engineer

After the recent RBI mandate to banks and NBFCs against unsecured personal loans, the lenders have pulled back their hands from digital lending. My company has already started facing the impact. Tomorrow onwards we won't be able to disburse any new loans from our platform because the lender is unsure of the road ahead.

Personally, I can't afford to go through another layoff this year :')

Brace for impact people in lending biz!!!

RBI bans Bajaj Finance to stop lending under ecom and insta emi products with immediate effect- WHY?

Director Finance

Welcome to Indian Startups's Private Community

Should we also compare NPAs? Should we also compare loan book size? Should we also compare amount of time in the industry? 

I mean we know business is growing, but give folks a better reason to join. 

Be like stripe- to increase the gdp of the internet

That’s a dumb thing to write!

To all paytm folks and people having first hand knowledge of this matter: how true is the statement that the 1k layoffs are due to AI? or is it just a bs PR move to justify layoffs (like any other organisation)

Paytm: AI led job loss

100% bullshit 😆 
  
 AI is like an easy target to blame.  
  
 Truth is - They have accumulated insane NPAs in low ticket size loans which RBI also highlighted. Pausing that business made a huge chunk of people redundant. At the same time, there’s insane pressure to boost up the stock price as it’s still treading much lower than IPO price.

Growth Manager

Is Cred a business or just a long party? If they are a business then how do they make money? What do they stand for - currently it just looks like a hangout place for super privileged bros?

What is Cred’s business model?

Why are they doing this ??

Data Scientist

- Groww Creditserv, Groww's NBFC, expanded its loan book to Rs 965 crore ($115 million) by June 2024, up from Rs 731 crore ($87 million) in March 2024.
- Personal loans make up 98% of the loan book, with the remaining 2% being consumer loans.
- Groww's lending portfolio also includes partnerships with Aditya Birla Finance, IDFC First Bank, and Credit Saison.
- The company dispenses around Rs 250 crore in personal and consumer durable loans monthly, peaking at Rs 350 crore before a strategic shift.
- Changes in leadership and a focus on co-lending have marked Groww's recent strategy, with significant equity funding and a growing retail stock investor base driving overall growth. 

 Source: [The Arc](https://thearcweb.com/article/groww-nbfc-expands-loan-book-to-115-mn-nKCctdAHTD2rVZP6)

Groww NBFC's Loan Book Soars to $115 Million Amid Strategic Shifts

Journalist

Hi folks, 

Personally, I thought I should invest in the index fund. Because, I don't want to take the risk with this amount. 

But I would still like to know 2 things - 

1. Is the index fund fine? 
2. Is it the right time to invest in lumpsum Or should I do an SIP of 20k? 

Any help would be appreciated. 

Thanks in advance :)

Where to invest Rs. 2 lacs right now?

We don’t know your risk profile, but your statement gave me a hint of conservative.  
  
 For a conservative investor in the current market situation, I will do 2 step investing. 
  
 1. Put 1.6/1.8L in arbitrage/liquid fund  
 2. Start monthly index investing with 20k 
  
 If I see 2.5% correction in index, I will move 60k in index from arbitrage/liquid. If index sees more than that, I will transfer rest of the amount to index.  
  
 The above method will preserve my capital & gains both.

My mother called me yesterday and tells me she got scammed for about 10 lakhs and needs money by Monday. She has 4 lakhs and I will have to cover the rest. Turns out she let a friend take a loan in her name and this friend gave fake jewellery as collateral. The friend took loans under her husband’s name and my mom’s name, she divorced the dude and escaped. The bank called my mom and has asked her to pay, now they’re filing a case against my mom for fraud.

I’ve spent my weekend talking to advocates and friends, and looks like the only way to get out of it unscathed is to cut a deal with the bank saying we’ll pay the money back and they don’t press charges in return. Contesting the bank is going to take time, money and the risk of my mom losing her job.

As an older daughter who grew up in a broken family, I’ve spent my childhood and adulthood protecting my mother and sibling. I finally landed a well paying job 2 years ago and now the responsibility extended to providing for my younger sister and my mother financially which I’m more than happy to do. I’ve worked hard the past few months to save what I have right now beyond what I give my family, use to sustain myself and finally felt happy about the position I’m in.

Now I’m heartbroken. I’m going to be emptying almost 70% of what I have so far for this for paying the bank and the lawyer. Especially for something that’s not even my mistake and something that could have been easily avoided. I’m not in a place to direct my anger at her, I know it’s a hard time for her as well. 


6 to 7 lakhs might sound like a small amount to some but I don’t have the privilege to throw money like that. I don’t have fuck you money. I don’t take money from friends. I’m 25 and literally just started my life 2 years ago after working for peanuts. 

What’s even the point of working hard, leading an honest life if this is how it works? It’s just truly unfair and I don’t know how to deal with it.

I wish life was a little easier and I just need to vent

Me too venting in this space.. 
 //Start if rant 
  
 My father too was frauded by a builder whom we had entrusted building flats on our plot of land. Fcker took booking amount from multiple people and left construction, claimants now coming after us saying its our responsibility to refund even though my father didnot recive any amount. 
 I had to take 18 lakhs loan for my father to complete construction and am all the time calling advocates in assesing risk from claimants who come barging at our home and building site with threats of filling FIR. 
 Every month my one third salary goes in Loan amount, had got a ideal wlb good paying job 2 years back after battling unemployment and low pay for many years. 
 Had planned to take wife and kids on vactaions for making up for lost time but now struggling to fulfill basic needs for family, forgot about vacations. 
 Have taken risk and moonlighting but it becomes hell on days when there is clash between jobs and sometimes lash out on my kids and wife and parents and then get hit by double guilt of not being strong enough.  
 Dont have any backing to face cheat builder who has backing of police and politicians, claimants coming after us as they have recognized us as soft target. 
 Preparing for 10 lakhs more expenses in multi year litigation trying to probe my fathers innocence. 
 Fcking jealous relatives enjoying all this from distance. 
 Fck this world. 
  
 //End of rant

lol, I’ll open an FD instead

Corporate Strategist

Based on the numbers given, their daily transacting users should be around ~400-500k.

10M app downloads or 2 cr users as per app store. Definitely shows a leaky bucket in retention but impressed that half million transact everyday.

Any users or people you know who invest?

Curious on why people save in digi gold offered by such platforms

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RBI wants banks to ditch some funds

RBI releases a circular that restricts banks and NBFCs from investing in certain funds. Primary reason: to stop the "evergreening" of loans. But there's more than meets the eye..

How banks are recovering the big loans !!

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