A widower and father of two has moved the Delhi High Court praying for a declaration that insurance business conducted by banks is illegal and unconstitutional and stressing that banking should be done by banking professionals while insurance business should be carried out by insurance professionals for healthy co-existence of both the institutions and in the best interest of the citizens. East Delhi resident Titus Abraham has moved Delhi High Court praying it to “quash the notification dated August 3, 2000 issued by the Ministry of Finance under section 6(1)(o) of the Banking Regulation Act 1949 specifying ‘insurance as a form of business in which it is lawful for a banking company to engage’, and all actions /orders/ circulars notifications issued by the respondents (Centre and the RBI) arising out of it as the same is ultravires”. The petition has been filed after Abraham’s wife took a loan from ICICI bank for purchasing a car … [Read more...] about Banking & Insurance Shouldn’t Be Mixed; Man Moves Delhi HC, Narrates How Wife Was Forced To Take Insurance Policy For Getting Loan
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Banking & Insurance Shouldn’t Be Mixed; Man Moves Delhi HC, Narrates How Wife Was Forced To Take Insurance Policy For Getting Loan [Read Petition]
A widower and father of two has moved the Delhi High Court praying for a declaration that insurance business conducted by banks is illegal and unconstitutional and stressing that banking should be done by banking professionals while insurance business should be carried out by insurance professionals for healthy co-existence of both the institutions and in the best interest of the citizens. East Delhi resident Titus Abraham has moved Delhi High Court praying it to “quash the notification dated August 3, 2000 issued by the Ministry of Finance under section 6(1)(o) of the Banking Regulation Act 1949 specifying ‘insurance as a form of business in which it is lawful for a banking company to engage’, and all actions /orders/ circulars notifications issued by the respondents (Centre and the RBI) arising out of it as the same is ultravires”. The petition has been filed after Abraham’s wife took a loan from ICICI bank for purchasing a car … [Read more...] about Banking & Insurance Shouldn’t Be Mixed; Man Moves Delhi HC, Narrates How Wife Was Forced To Take Insurance Policy For Getting Loan [Read Petition]
To Help Strapped Borrowers, States Turn To Student Loan Ombudsmen
Stateline, ContributorStateline provides daily reporting and analysis on trends in state policy. A combined 43 million people owe more than $1.3 trillion in student loans. About 4.6 million of them were in default at the end of last year. 04/10/2018 01:31 pm ET By Elaine S. Povich Marcia “Cia” Price is 37 years old and has more than $90,000 in outstanding student loan debt — more than what she originally owed. Like many indebted former students, Price has had her share of frustrations in trying to navigate the loan repayment thicket, especially during earlier days when she didn’t make a lot of money and needed help restructuring her loan. She’s not alone. The U.S. government says a combined 43 million people owe more than $1.3 trillion in student loans. About 4.6 million people were in default at the end of last year. But Price is unusual in one respect: As a member of the Virginia House of Delegates, she’s in a position to help. Price, … [Read more...] about To Help Strapped Borrowers, States Turn To Student Loan Ombudsmen
Colleges Hire Consultants to Help Manipulate Student Loan Default Rates
Sections SEARCH Skip to content Skip to site index Politics Subscribe Log In Subscribe Log In Advertisement Supported by ByErica L. Green May 11, 2018 WASHINGTON — Colleges and universities are avoiding federal punishment for high student-loan default rates by hiring consultants who encourage borrowers to delay payments on their loans, even if that will cost them and taxpayers more in the long run, Congress’s nonpartisan watchdog found. In a two-year examination of how colleges and universities manage graduates at risk for defaulting on their loans, the Government Accountability Office found that institutions hired consultants that pressured student borrowers to effectively put their loans on ice — or “in forbearance” — an option that allows borrowers to avoid default. It also allows colleges and universities to avoid losing federal funding because of excessive defaults. The findings by the independent … [Read more...] about Colleges Hire Consultants to Help Manipulate Student Loan Default Rates
Taking Loans In Wife’s Name And Failing To Repay Them Amounts To Cruelty: Uttarakhand HC [Read Judgment]
Share Tweet Plus One Pin It Email Print By: Apoorva Mandhani June 22, 2018 11:50 am Change Font Size The Uttarakhand High Court recently allowed a wife’s plea for divorce on the ground of cruelty, noting that the husband had repeatedly taken loans on the wife’s name knowing well that she had no source of income, and had failed to repay them, putting her in trouble. The Bench comprising Justice V.K. Bist and Justice Alok Singh set aside a judgment passed by the Principal Judge, Family Court, Dehradun, observing, “Learned Judge Family Court failed to appreciate evidence in right prospect. Learned Judge Family Court treated the condition of parties, as if they are living in penury while the fact is respondent / husband had taken various loans including for purchasing of luxury cars but he is not repaying the loans, which causes embarrassment and mental agony to the appellant.” The impugned order had rejected the wife’s plea for divorce, … [Read more...] about Taking Loans In Wife’s Name And Failing To Repay Them Amounts To Cruelty: Uttarakhand HC [Read Judgment]