According to industry estimates more than 70 per cent of motorcycles are bought through financing schemes.
Some of the top indebted companies likely to face financial headwinds in the coming quarters include NTPC, PowerGrid, Tata Steel, Adani Power, JSW Steel, UPL, and Steel Authority of India. Together these 201 companies owed Rs 14.9 trillion to their lenders at the end of September 30, 2019, up 4.1 per cent year-on-year (YoY) during the first half of FY20.
To sell off L&T IDPL, Nabha Power; transfer Hyderabad Metro to an InvIT.
Although the RBI's open market operations have ensured sufficient system-level liquidity, some sectors are finding liquidity to be a challenge owing to their credit profile.
Vodafone m-pesa was one of the 11 firms that was given payments bank licence by the Reserve Bank of India in 2015.
Moody's Investors Service on Friday said India's economy is expected to contract for the first time in more than four decades saying economic damage owing to the coronavirus-induced lockdown will be significant with lower consumption and sluggish business activity. Even before the coronavirus outbreak, Indian economy already was growing at its slowest pace in six years and with the stimulus measures announced by the government falling short of expectations, the disruptions are likely to be greater. "We now expect India's growth to register a real GDP contraction for the fiscal year ending in March 2021 (fiscal 2020-21), from our earlier projection of zero growth," it said in a research note.
A good agricultural harvest and a timely arrival of monsoon, besides a slew of government schemes, have also come as a bounty.
'The shadow banks are currently facing a liquidity and solvency crisis.' 'The danger is that it could potentially engulf the entire financial system because shadow banks have borrowed huge amount of money from banks, mutual funds, pension funds, and insurance companies.'
Stemming from the default of IL&FS in September, on various debt instruments including commercial papers, bonds and loans, the financial sector has been facing a liquidity crunch for the last eight to ten weeks.
Gold loan companies offer loans to financially-excluded customers and MSMEs by enabling them to monetise their gold without the need for documentary proof of income
A personal loan can score over a loan against gold in some cases, if you compare the interest rate, tenure and charges for the two products.
Aavas is turning heads in the country's mortgage financing space because it selected to do business in a different way, says Mudar Patherya.
Observing that MSME sector plays an important role in the growth of the Indian economy, RBI said the restructuring of the borrower account has been extended by further one year to March 31, 2021.
Those behind recapitalisation are neither aware nor do they care. After all, they have no skin in this game. And the Lok Sabha elections are round the corner. That's what they care about, points out Debashis Basu.
The Reserve Bank on Tuesday allowed infrastructure finance companies (IFCs) to raise money from overseas markets through the automatic route to increase fund flow into the resource-starved core sector.
Most NBFCs will have to slow down their loan growth. Some of the most leveraged will have to sell a part of their assets (or loan book) to banks to raise incremental capital. Others may have to knock on the door of their deep-pocketed parents.
As a result of this moratorium, individuals' EMI payments of loans taken will not be deducted from their bank accounts, providing much needed liquidity to borrowers whose income has been disrupted due to the lockdown till May 31.
In an interview Credit Information Bureau of India's managing director Arun Thukral speaks about how CIBIL is fast becoming a consumer centric institution.
According to ICRA, even in a high-growth scenario, wherein the second half of FY20 sees the incremental bank credit rise to Rs 6.5-7 trn, there will still be a 40-45% year-on-year decline.
Women working at some of the Britain's leading finance companies receive around 80 per cent less performance-related pay compared to their male colleagues, a report has said.
Banks will introduce hybrid home loans with stiff penalty on prepayment and shifting.
After the NHB asked housing finance cos to desist from offering interest subvention schemes, disbursement of loans are likely to get delayed, points out Tinesh Bhasin.
Housing finance companies are currently regulated by NHB, which is, in turn, regulated by RBI. NHB is wholly-owned by RBI.
Mahesh Nandurkar, executive director and India Strategist at CLSA, talks to Puneet Wadhwa ahead of their 21st India Forum on his interpretation of how the markets have played out over the past few months, the road ahead, and his sector preferences in this backdrop.
Infrastructure Leasing and Finance Company is poised to acquire management control of the troubled infrastructure company Maytas Infrastructure owned by family members of Ramalinga Raju, former chairman and managing director of Satyam Computers, who confessed to financial fraud on January 7. The leading non-banking finance company is emerging as a government preference given its prominent role in infrastructure finance in the country.
Eighty per cent of the new employment requirements over the next decade would arise in the 10 states - Uttar Pradesh (UP), Madhya Pradesh, Chhattisgarh, Rajasthan, Jharkhand, Maharashtra, Odisha, West Bengal, Bihar and Assam - that account for 62 per cent of our population.
One of the factors behind the rise in securitisation deals was State Bank of India's (SBI) decision to buy portfolio worth Rs 45,000 crore from NBFCs
'Real estate loans are given in the garb of retail loans, sourcing money cheap from the NHB refinance window.' 'This loophole is being plugged,' notes Tamal Bandyopadhyay.
From auto, refrigerator, and mobile handset makers to real estate firms, companies are tying up with banks to dole out attractive finance schemes and discounts to make buying more affordable.
Infrastructure Development Finance Company Ltd managing director and chief executive officer Rajiv B Lall has sold 4.50 lakh (450,000) shares of the company for over Rs 6.3 crore (Rs 63 million) in an open market transaction.
'In the short-term, the markets may be affected' by the review but 'it will help address what they are worried about which is why we need transparency,' says former chief economic advisor.
The most strident criticism of UP's anti-conversion ordinance has come from the judiciary with several retired Supreme Court and high court judges having described it as being violative of Article 14 (Right to Equality), 15 (Prohibition of discrimination on grounds of religion), 21 (Right to Life) and 25 (Freedom of conscience) of the Constitution, points out Rashme Sehgal.
'We get to know secrets such as some of India's top-rated firms do not always make payments when due and many State-owned, listed, enterprises that borrow in bond markets default regularly.' 'Without naming the bank, he says that ever-greening of poor loans by a part of India's shadow banking lay at the doorstep of India's banking, notably 'one private bank'.' Viral Acharya's Quest for Restoring Financial Stability in India won't be music to many ears, observes Tamal Bandyopadhyay.
Always be clear about the clauses and conditions laid down by your bank or housing finance company. If at all you skip this task then you may face a major problem during the entire tenure of your loan or may be even beyond that.
The Andhra Pradesh police have issued an "international lookout notice" against JM Financial chairman Nimesh Kampani and 17 others in a case involving Nagarjuna Finance, the non-banking finance company of the Nagarjuna group.
Which is the best home loan? Advice from financial guru Harsh Roongta.
The worst may perhaps be over for these stocks, suggests Sanjay Kumar Singh.
There was no relief for existing home buyers who are stuck in stalled projects and are paying both rent and EMI on their home loans.
Reserve Bank of India Governor Shaktikanta Das on Friday said the central bank will ensure adequate liquidity in the system to ease the financial stress caused by the Covid-19 pandemic. The central bank reduced the reverse repo rate -- the rate at which banks park their fund with the central bank -- by 25 basis points to 3.75 per cent.
Jhunjhunwala increases stake in DHFL, luggage maker VIP Industries and pharma major Lupin but is cautious on auto holding. At the end of the March quarter, Jhunjhunwala held positions in 29 firms.
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