Finance Debt

Ally Financial bets on subprime auto loans

NEW YORK (Reuters) – Ally Financial Inc, the largest provider of auto loans in the United States, hopes people have forgotten when “subprime” became synonymous with “disaster”. Ally, formerly known as GMAC Financial Services, is preparing to go public this year and argues that subprime loans for used car buyers …

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Summary, bad bank to boost credit

The Union budget for fiscal year 22 proposed to recapitalize public sector banks (PSBs) to ₹20,000 crore and set up a bad bank to remove toxic assets, two decisions that should improve the flow of credit. Friday’s economic study suggested a clean-up of bank balance sheets as well as a …

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