Credit card defaults could hurt you badly now
The New Indian Express|December 23, 2024
With SC rejecting 30% cap on credit card interest rates, card issuers will now have more flexibility to set rates
BENN KOCHUVEEDAN
Credit card defaults could hurt you badly now

IN a big relief for credit card issuers who are facing a rising tide of bad loans since the past few quarters (delinquencies are at nearing double-digit mark now; in June 2024 quarter it soared by 110 bps to 7.6%), the Supreme Court, over the weekend, has given them a free hand to set interest rates for late payments, defaults and even on the outstanding dues.

Not that their hands were tied till now--in a strict legal sense they were, but not in practice as even when the matter was subjudice since February 2009, card issuers were regularly increasing their interest rates which now vary from a low of 45% (3.8% per month) to a high of 55% annually or 4.5% per month on certain cards.

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We expect 2025 to be a strong year for us in India: Toyota
The New Indian Express

We expect 2025 to be a strong year for us in India: Toyota

AT a time when most automakers are grappling with sluggish demand, Toyota Kirloskar Motor (TKM) is achieving impressive double-digit sales growth each month. This success is driven by its strong SUV portfolio and the strategic partnership between its parent company, Toyota Motor Corporation, and Suzuki Motor Corporation. The Japanese automaker is set to surpass the 3 lakh annual sales milestone in the financial year 2025 and expects this robust growth to continue into the next fiscal year. Unlike other carmakers focusing heavily on electrification, TKM has adopted a unique strategy by offering a broader range of green powertrain options, emphasizing its ultimate goal of reducing carbon emissions. In an interaction with TNIE's Arshad Khan, Vikram Gulati - Country Head of TKM and Sabari Manohar - Vice President of Sales at TKM discuss Toyota's growth in India, their approach towards different powertrains and investments by the company. Edited excerpts:

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2 dak  |
December 23, 2024
CONCOCTIONS BY THE COAST
The New Indian Express

CONCOCTIONS BY THE COAST

Unnavu Thiruvizha on Marina Beach provides a platform to showcase regional cuisines. But chaos and confusion ensued on Sunday as thousands turned up to relish some delicacies

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2 dak  |
December 23, 2024
The Running Man gets Christmas 2025 release
The New Indian Express

The Running Man gets Christmas 2025 release

Paramount Pictures has moved the release date of The Running Man remake from November 21 to November 7, 2025, to avoid a clash with Jon M Chu’s Wicked: For Good.

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1 min  |
December 23, 2024
Barry Keoghan, Jenna Ortega film titled Hurry Up Tomorrow
The New Indian Express

Barry Keoghan, Jenna Ortega film titled Hurry Up Tomorrow

Earlier, we reported that actors Jenna Ortega and Barry Keoghan, as well as musician Abel Makkonen Tesfaye (The Weeknd), would star in an upcoming film directed by Trey Edward Shults.

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1 min  |
December 23, 2024
MENTAL MANADHIL GOES ON FLOORS
The New Indian Express

MENTAL MANADHIL GOES ON FLOORS

EARLIER, we reported that director Selvaraghavan and actor GV Prakash are teaming up for the first time for a film titled Mental Manadhil.

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1 min  |
December 23, 2024
CELEBRATION OF CHANGEMAKERS
The New Indian Express

CELEBRATION OF CHANGEMAKERS

CHANGE is the only constant, as the popular adage goes. However, across the world, at this moment, movements, and people are catalysts, fighting in an attempt for a change, carving out a more equal world.

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1 min  |
December 23, 2024
A grand festival of Tamil Isai
The New Indian Express

A grand festival of Tamil Isai

THE Raja Annamalai Mandram in Chennai came alive on December 21 as the Tamil Isai Sangam celebrated its 82nd anniversary with grandeur and tradition.

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1 min  |
December 23, 2024
Quenching curiosity: Campus visits in American universities
The New Indian Express Chennai

Quenching curiosity: Campus visits in American universities

SAT scores can be a stepping stone to your dream college, but a prestigious name and reputation alone may not guarantee that a school is right for you. Hence campus tours are a good way to gain insight into courses, campus culture and history of the school

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1 min  |
December 23, 2024
Words of Wisdom for Yashasvi
The New Indian Express

Words of Wisdom for Yashasvi

During a net session ahead of the Boxing Day Test in Melbourne, Kohli, Rahul and coach Gambhir give pep talks to Mumbai batter, who has struggled to spend time in the middle

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3 dak  |
December 23, 2024
Three-star Blasters down Mohammedan
The New Indian Express

Three-star Blasters down Mohammedan

KERALA Blasters FC players delighted the home crowd to record a dominant 3-0 win over Mohammedan SC in the Indian Super League at the Jawaharlal Nehru Stadium here on Sunday.

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1 min  |
December 23, 2024