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Abhishek Bondia In the books of financiers, home loan is considered to be one of the safest debts. A home loan is fully backed by a collateral, which is 20 to 25 per cent higher in market value. Further, the quantum of loan to be sanctioned is ascertained based on the income-generating ability of the borrower and not the underlying asset. The latter is true for commercial loans. Due to their low-risk profile, home loans are charged the lowest interest rates. However lenders have realized that when they look at the broader picture, i.e., the entire book, a certain proportion of loans end up as defaults because of the borrower’s death. Banks can take possession of the property to recover the principal amount. However, selling a real estate asset is a long-drawn process. To circumvent this, banks recommend that their borrowers buy life insurance. The question is whether this is good for the borrower as well. Insuring home loans The term insurance attached with loan products … [Read more...] about Cover your home loan with a credit shield insurance policy

A Chinese government proposal for a financial stability guarantee fund to safeguard against systemic risks has attracted attention from many parties. Some have differing opinions on how to best resolve the current financial risks related to defaults and debt reduction, especially among property developers. At the direction of the State Council, the People's Bank of China (PBoC) will take the lead in developing the framework for the fund. Also taking part are the National Development and Reform Commission, the ministries of Justice and Finance, the China Banking and Insurance Regulatory Commission (CBIRC), the China Securities Regulatory Commission and the State Administration of Foreign Exchange. Preliminary work is expected to be completed by the end of September. The purpose of the fund is to improve risk prevention and deal with systemic-hidden dangers, a spokesperson for the CBIRC has said. Participants are studying the relevant regulations for the establishment of the fund and … [Read more...] about China debates a financial stability guarantee fund

Share to Twitter Share to Linkedin Do you hear that? It’s the painful sound of business owners around the world throwing their money down the drain. Every business owner (especially new entrepreneurs) is guilty of it at some point or another. But, there are plenty of ways you can steer clear of throwing your money away and save that dough for more important things, like growing your business. Ways To Stop Throwing Your Money Away Want to stop throwing your money out the window when it comes to your business? If so, you’ve come to the right place. Let’s break down six ways to put an end to the waste. Ready, set, go… 1. Budget, Budget, Budget Your business budget is a nice little guide to keep you on track financially throughout the month, quarter, year, etc. But if you don’t know how to properly budget expenses and/or if you include things in your budget that are unnecessary, you could (heck, will ) wind up throwing your money away. To ensure … [Read more...] about 6 Ways To Stop Throwing Your Money Away

Sunday marked Visakha Bucha Day which is the commemoration of the birth, enlightenment and death of the Lord Buddha. Buddhism is the largest religion in Thailand, but we cannot deny that faith in Buddhism has declined due to the inappropriate behaviour and misconduct of some monks. In the past months, media outlets have reported news of many monastic members including monks of high ranks -- such as abbots -- engaging in sexual and other misconduct. A recent monk scandal concerns the case of Phra Kato, 23, at Wat Pen Yat in Chawang district, Nakhon Si Thammarat, who had a sexual relationship with a 37-year-old woman. Because of this, Phra Kato, or Pongsakorn Chankaew, was forced to leave monkhood. Phra Kato was well known for his humorous preaching videos on social media. After he left the monkhood, Pongsakorn became even more well-known. When he appeared in public, people wanted to take photos with him or were excited to see him. Media outlets reported that he earned more income … [Read more...] about What to do with misbehaving monks?