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Reported crimes involving women, children in Kedah doubled in 2025, says Home Minister
Reported crimes involving women, children in Kedah doubled in 2025, says Home Minister

New Straits Times

time3 days ago

  • New Straits Times

Reported crimes involving women, children in Kedah doubled in 2025, says Home Minister

ALOR STAR: The number of women and children who are either victims or witnesses in criminal cases has doubled in recent months, says the home minister. Datuk Seri Saifuddin Nasution Ismail said an average of 42 cases were reported each month in the first half of the year, compared with 16 in 2024. Home Minister Datuk Seri Saifuddin Nasution Ismail said this marked a significant increase. "If we zoom in on Kedah, the 2024 data showed an average of 16 cases a month. But for the first six months of this year, that number has climbed to 42 a month, more than double the previous rate," he said during a press conference after opening the new Child Interview Centre (CIC) under the police's Women and Child Investigation Division (D11) in Derga, near here, today. Also present were Home Ministry secretary-general Datuk Awang Alik Jeman and Deputy Inspector-General of Police Datuk Seri Ayob Khan Mydin Pitchay. Saifuddin said on a national scale, children under the age of 18 were involved in about 75 per cent of sexual crime cases reported yearly. "In terms of this type of crime, there is a rising trend nationwide. When we look at the victims, children represent a disproportionately high share of reported cases," he added. He said the figures only accounted for reported cases. "Data on crimes of this nature often shows that the perpetrator is someone known to the victim, and a major challenge for investigators is to produce corroborative evidence," he said. Saifuddin said the CICs were designed to strengthen investigations into crimes against children, particularly in gathering corroborative evidence that complemented statements taken by investigators. "These centres conduct interviews with child victims in a manner that is admissible in court. The sessions are recorded, and the footage can be used during trial proceedings," he said. Unlike conventional criminal investigations, he said officers assigned in CICs undergo training in areas such as psychology, counselling, and trauma handling. He said currently, there were 31 CICs operating nationwide, with Kedah hosting two centres. On the legal framework, Saifuddin said existing laws were applied effectively but said the government was open to amendments if necessary. Saifuddin expressed satisfaction with the commitment shown by D11 officers and pledged continued support for the division's needs in manpower, training, equipment, and logistics. "We will continue to enhance their capacity, improve cross-agency collaboration, and evaluate any necessary legal improvements," he said.

RBI to consider giving Section-8 MFI firms' access to credit bureaus
RBI to consider giving Section-8 MFI firms' access to credit bureaus

Business Standard

time4 days ago

  • Business
  • Business Standard

RBI to consider giving Section-8 MFI firms' access to credit bureaus

The lack of access to credit information leaves Section-8 MFIs in the dark about the worthiness of their clients, while allowing borrowers to exploit the arbitrage between Section-8 and mainline MFIs Raghu Mohan New Delhi Listen to This Article The Reserve Bank of India (RBI) is considering whether Section-8 companies or not-for-profit (NFP) entities involved in microfinance should get access to credit information companies (CICs). Under the Credit Information Companies (Regulation) Act (2005), only RBI regulated entities (REs) are allowed to hook into CICs or credit bureaus – that is sharing data with and accessing it from them. This leaves out data flow to Section-8 microfinance institutions (MFIs) as only non-banking financial companies (NBFCs) dedicated to microfinance (NBFC-MFIs) are eligible. A submission was also made to the banking regulator that Section-8 MFIs be allowed to convert to mainline NBFCs-MFIs.

What happens if you default on a personal loan repayment? Know the consequences
What happens if you default on a personal loan repayment? Know the consequences

Mint

time09-07-2025

  • Business
  • Mint

What happens if you default on a personal loan repayment? Know the consequences

With the advancement in technology, these days, personal loans are available easily at the click of a button. In many cases, you don't even need to approach banks for a personal loan. Banks themselves reach out to you with pre-approved personal loans. While personal loans are available easily, borrowers must use them responsibly and repay them on time. Defaulting on a personal loan repayment can lead to severe consequences. In this article, we will understand what happens when a borrower defaults on a personal loan repayment. Defaulting on a personal loan repayment can lead to financial, legal, and psychological consequences. Let us understand them in detail. Late payment charges: Most banks collect the personal loan EMI through an auto-debit from the borrower's savings account. If the payment is returned, the bank will levy a payment return charge. For example, HDFC Bank levies a payment return charge of Rs. 450 per instance. Similarly, ICICI Bank levies Rs. 500 for cheque/auto-debit/electronic clearing service (ECS) bounce charges. Apart from the payment return charge, there will be a delayed instalment payment charge. For example, HDFC Bank charges 1.50% per month (18% per annum) plus taxes on the overdue instalment amount. The bank provides a grace period of 7 calendar days from the instalment due date. After the expiry of the grace period, if the instalment remains unpaid, the delayed instalment payment charge is levied. Similarly, ICICI Bank levies a late payment charge of 5% per annum on the overdue personal loan EMI until repayment. Credit score takes a hit: As per RBI guidelines, banks must report all delays in personal loan EMI payments to the Credit Information Companies (CICs) like CRIF High Mark. The reporting is done every 15 days. Any delay in the personal loan EMI payment will reflect in the borrower's credit report. Timely payment of loan EMIs and credit card outstanding has the highest weightage in the calculation of an individual's credit score. Hence, any delay in the personal loan EMI will hit the borrower's credit score badly. The borrower's credit score will fall sharply. After the EMI payment delay gets reported to the CICs, even if the borrower starts making EMI payments regularly on time, the recovery in the credit score will only be gradual. Calls and visits from recovery agents: In the event of a personal loan EMI default, the bank will send you payment reminders through various channels like phone calls, SMS, emails, WhatsApp messages, etc. If the borrower doesn't pay up within a specified timeline, the case is handed over to the recovery department/agency. The recovery agents will start making calls and visits to the borrower's home/office, which can be embarrassing. Co-applicant/guarantor will be asked to pay up: If there is a co-applicant or a guarantor, the bank will ask them to pay up on behalf of the borrower. If the borrower doesn't pay, the co-applicant/guarantor, if any, has the legal obligation to pay. If the co-applicant/guarantor doesn't pay, it will be reported to the credit bureaus. As a result, their credit score will take a hit. Legal action: In spite of repeated reminders, if the borrower doesn't pay, the bank will initiate legal action by sending a legal notice. If there is a co-applicant/guarantor, they will also be sent a legal notice. If there is no response to the legal notice, the bank will file a recovery case against the borrower. Getting new credit will be difficult: Once a personal loan default is reported to the CICs, it will stay there in the borrower's credit report for years, unless the borrower takes corrective action. It will make it difficult for the borrower to get any new loans or credit cards. Even if a bank decides to give a loan to the borrower, it may charge a higher interest rate. Some banks may insist on collateral as a risk mitigation measure. If you are facing financial difficulty, and are unable to repay the personal loan EMI, you may communicate the same to the bank. Check with the bank if it can offer you temporary relief in the form of a moratorium for a brief period. The other option is to ask the bank to restructure the personal loan and increase the loan tenure so that the EMI amount decreases. The lower EMI amount can reduce the financial burden during a financial crisis, till it is overcome. When you take a personal loan, right from the beginning, you can take the following proactive steps. Manage an emergency fund: You must always maintain an emergency fund to handle any unexpected or unplanned medical or other financial emergencies. In a particular month, if you are unable to pay the personal loan EMI due to any financial issue, you can dip into the emergency fund to pay the EMI. However, make sure to replenish the emergency fund, once the emergency is taken care of. Maintain some extra amount in the savings account: As a precautionary measure, you can maintain some extra money in the savings account from which your personal loan EMI is debited. The extra amount can be equivalent to one to two EMIs. The extra amount will come in handy if you are not left with sufficient or any money in a particular month to pay the personal loan EMI. In such a month, the extra money maintained in the savings account can be used to pay the personal loan EMI. Uncertain and unexpected events like a job loss, salary cut, salary delay, or any other event can lead to a financial drain. While you cannot prevent these events from occurring, you can be prepared to cushion their financial impact. During such events, you can fall back on your buffers like an emergency fund to pay for your regular expenses, personal loan and other loan EMIs, and sail through till the event passes. A personal loan EMI default is a major event and has far-reaching financial, legal, and psychological consequences. Hence, it is best to be prepared with buffers, so that you can use them during financial uncertainties to prevent a personal loan payment default. Gopal Gidwani is a freelance personal finance content writer with 15+ years of experience. He can be reached at LinkedIn.

RBI looks to ensure uniformity in credit bureau data quality
RBI looks to ensure uniformity in credit bureau data quality

Economic Times

time04-07-2025

  • Business
  • Economic Times

RBI looks to ensure uniformity in credit bureau data quality

The Reserve Bank of India is reviewing credit bureau operations. This aims to improve data consistency and transparency for customers. A working group is addressing concerns from financial institutions. Suggestions include uniform data standards and a common grievance portal. The RBI also wants quicker complaint resolution and more frequent credit data updates. A unique borrower identifier is also under consideration. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads ( Originally published on Jul 04, 2025 ) New Delhi: The banking regulator is examining suggestions to further streamline credit bureau processes and reduce information asymmetry with lenders, a move aimed at addressing data inconsistency and transparency for customers, said people familiar with the development."A technical working group has been formed by the RBI (Reserve Bank of India) to address concerns raised by financial institutions related to credit information companies (CICs)," said an executive, who did not wish to be identified.A senior public sector bank executive said the four CICs - TransUnion Credit Information Bureau (India) Limited (TransUnion CIBIL), Equifax, Experian and CRIF High Mark - have given some suggestions to the RBI to ensure data uniformity and also to set up a common grievance redressal portal."There is a need for some more common standards among CICs so that there is a uniformity relating to data quality index (DQI), and also for looking into the records of inactive or written-off customers," the executive said, adding that a single-window platform for data submission can also be emailed to the RBI did not elicit a response till press RBI has extended the alternative grievance redressal mechanism under the Reserve Bank-Integrated Ombudsman Scheme, 2021 to cover grievances against this week, RBI deputy governor M Rajeshwar Rao said a key challenge is identity standardisation and that CICs rely on credit institutions to provide accurate and validated IDs. "There is a need to move towards a unique borrower identifier , which is secure, verifiable and consistent across the system," he said, addressing the TransUnion CIBIL's Credit Conference in RBI has been taking up with CICs the issue of quick disposal of complaints raised against them. In 2023 it had mandated that complainants are entitled to compensation of ₹100 per day if their complaint is unresolved within 30 days from the initial RBI deputy governor, in his speech, also said that CICs must aspire to more frequent updates of credit data, as against the current fortnightly interval.

RBI looks to ensure uniformity in credit bureau data quality
RBI looks to ensure uniformity in credit bureau data quality

Time of India

time04-07-2025

  • Business
  • Time of India

RBI looks to ensure uniformity in credit bureau data quality

New Delhi: The banking regulator is examining suggestions to further streamline credit bureau processes and reduce information asymmetry with lenders, a move aimed at addressing data inconsistency and transparency for customers, said people familiar with the development. "A technical working group has been formed by the RBI (Reserve Bank of India) to address concerns raised by financial institutions related to credit information companies (CICs)," said an executive, who did not wish to be identified. A senior public sector bank executive said the four CICs - TransUnion Credit Information Bureau (India) Limited (TransUnion CIBIL), Equifax, Experian and CRIF High Mark - have given some suggestions to the RBI to ensure data uniformity and also to set up a common grievance redressal portal. "There is a need for some more common standards among CICs so that there is a uniformity relating to data quality index (DQI), and also for looking into the records of inactive or written-off customers," the executive said, adding that a single-window platform for data submission can also be explored. Queries emailed to the RBI did not elicit a response till press time. The RBI has extended the alternative grievance redressal mechanism under the Reserve Bank-Integrated Ombudsman Scheme, 2021 to cover grievances against CICs. Earlier this week, RBI deputy governor M Rajeshwar Rao said a key challenge is identity standardisation and that CICs rely on credit institutions to provide accurate and validated IDs. "There is a need to move towards a unique borrower identifier , which is secure, verifiable and consistent across the system," he said, addressing the TransUnion CIBIL's Credit Conference in Mumbai. The RBI has been taking up with CICs the issue of quick disposal of complaints raised against them. In 2023 it had mandated that complainants are entitled to compensation of ₹100 per day if their complaint is unresolved within 30 days from the initial filing. The RBI deputy governor, in his speech, also said that CICs must aspire to more frequent updates of credit data, as against the current fortnightly interval. Economic Times WhatsApp channel )

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