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Booking vacation to Bermuda vs. a new kitchen: Here's how some people misuse their home equity loan

Booking vacation to Bermuda vs. a new kitchen: Here's how some people misuse their home equity loan

Finance
You shouldn't use your house to help pay your monthly bills, but nearly 1 in 6 American homeowners thinks that's just fine. Those were the findings from a recent survey by Bankrate.com. Earlier this month, the personal finance website took an online poll of 719 homeowners, asking them about using their home equity — the market value of your abode minus the outstanding loan you have on your dwelling. Though nearly 75 percent of participants said that improvements and repairs were "good uses" of home equity loans and lines of credit, many felt that they could tap value of their house for a range of other uses. ...
Flipkart launches a credit line for customers

Flipkart launches a credit line for customers

Finance
BENGALURU: Just weeks before its annual festive sales, Flipkart has introduced a credit line for customers to complete their shopping on the platform. Called ‘Cardless Credit,’ it enables customers to get an instant credit line of up to Rs 60,000, based on the user’s creditworthiness. This will enable customers who do not have a formal credit access, to purchase products and thereby trigger a growth in the gross merchandise value for the ecommerce platform. “Close to 45 million customers on our platform do not have formal access to credit and a good portion of this is emerging from tier II, III towns,” said Ravi Garikipati, senior vice president and head of Fintech Flipkart. “Cardless Credit is a step in the direction to make e-commerce more inclusive and help customers
After-hours buzz: TLRY, FIT & more

After-hours buzz: TLRY, FIT & more

Finance
Check out the companies making headlines after the bell: Fitbit Inc stock fell nearly 2 percent during post-trading hours. The stock closed up 6.4 percent, after President Donald Trump announced on Monday that the $ 200 billion tariff on Chinese goods will avoid smartwatch makers and fitness trackers. Tilray Inc stock rose more than 5 percent after market-close, continuing the company's positive trend from the trading day. Shares soared 29% during the trading day after the announcement that the cannabis producer will be able to import marijuana to the U.S. for medical research. ...
Vijay Denanath Baroda Bank: Challenges of the urge to merge

Vijay Denanath Baroda Bank: Challenges of the urge to merge

Finance
NEW DELHI: In August last year, the government asked the 21 public-sector banks (PSBs) to come up with their plans for consolidation. With the proposed merger of Bank of Baroda, Vijaya Bank and Dena Bank — now being jokingly called Vijay Denanath Baroda Bank on social media — the government has taken one more step towards consolidation aimed at creating just a few banks so big that they matter globally. The merger will bring down the number of PSBs to 19. The merger has raised questions due to the health of Dena Bank. Due to its burden of NPAs, it is currently under the Prompt Corrective Action framework of the RBI and has been restrained from further lending. The government believes that the merger would improve the operational synergy and would be better than several entities competing