Housing finance companies step in to provide loan to customers turned away by banks.
The founder of the e-commerce firm, which specialises in procurement of industrial products, believes if he plays his cards right, his company could become a unicorn with a valuation of $1 billion in 5 years.
The Rajya Sabha is slated for a 12-hour discussion on the Motion of Thanks to the President's address to the joint session of the two Houses of Parliament, which also includes the reply by the prime minister, which is likely next Tuesday.
How much will the banks' bad assets grow in March? It could be anywhere between Rs 1.2 trillion and Rs 2 trillion, observes Tamal Bandyopadhyay.
The estimated cost breakdown is one of the most important forms in the construction loan package.
Tata Steel was the top gainer in the Sensex pack, zooming 7.57 per cent, followed by Sun Pharma, IndusInd Bank, L&T, ITC and HCL Tech.
Last month, the bank was placed under Prompt Corrective Action due to high level of bad loans, lack of sufficient capital to manage risks and negative return on assets for two consecutive years.
Budget 2015 has blessed the banking sector.
Since November 3, the day the central bank's special window was opened, bids worth Rs 2,775 crore (Rs 27.75 billion) were placed at the auctions against the total outstanding amount of Rs 60,000 crore (Rs 600 billion) at the fixed rate of 7.5 per cent. "It's a commercial decision of banks to lend money to NBFCs. It implies that banks are still cautious about lending to NBFCs and they might take some more time to start lending normally to us," said an NBFC chief.
'Strong regulations are crucial for the orderly development of the market.'
The attached assets include 15 commercial and residential properties belonging to the 'family members' of Mirchi. They include a hotel called Midwest Hotel Apartment, the ED said. They are valued at Rs 203.27 crore and have been provisionally attached under the Prevention of Money Laundering Act (PMLA), the central probe agency said in a statement.
The most common complaint of financial consumers is cumbersome processes, complicated products, usurious charges, and mis-selling of products, which finally don't deliver what is promised or as expect, notes Debashis Basu.
The infra-major going belly up cracked open some major flaws in the system - the most evident being weak corporate governance and how layers of corporate structures could be formed adding to the opaqueness of the group.
'I believe the modified scheme is much more beneficial and simpler.'
One smells a rat when cases are settled for too small a price offered either by the highest bidder or the promoter -- within and outside the legal ambit of insolvency process, observes Tamal Bandyopadhyay.
Housing finance major HDFC on Monday reported a 16 per cent growth in standalone net profit to Rs 3,700 crore for the January-March quarter, helped by record loan sales on the back of benign interest rates and the resultant fall in cost of funds along with the near-total repayments that culled provisions and credit costs. For the full year, the company, which is working on a reverse merger with its banking subsidiary, has booked a net profit of Rs 13,742 crore, up from Rs 12,027 crore in FY21, vice-chairman and chief executive Keki Mistry said on Monday in an earnings call with analysts. On a consolidated basis, net profit for the quarter surged 21.6 per cent to Rs 6,892 crore on-year and for the full year it jumped 21 per cent to Rs 22,595 crore, Mistry said and guided towards better days.
In the midst of third wave of COVID-19, Finance Minister Nirmala Sitharaman has come up with an impactful Budget which is balanced, fiscally prudent and growth-oriented, the USA India Chamber of Commerce has said. President of the Boston-based USA India Chamber of Commerce (USAIC) Karun Rishi, however, said it is a matter of concern that the budget lacks tangible measures to increase revenue generation. "Opting to keep the fiscal deficit at 6.9 per cent and increase capital expenditure by 35 per cent is a masterstroke. "The annual budget estimates the effective capital expenditure of Rs 10.68 lakh crore in 2022-23, making up about 4.1 per cent of the GDP," he said. "A phenomenal increase in the government's capital expenditure is likely to facilitate the expenditures on infrastructure and create jobs.
Select companies in infra, capital goods, private banks, auto, oil & gas, and mining could be considered by investors.
Exuding confidence in sustaining the tempo of credit growth, public sector bankers said on Wednesday that consolidation in the public sector bank (PSB) space has given them a robust base to scale. The privatisation of PSBs can be done through divestment of government stake to a wider base of investors without haste. There is nothing to worry about at this point (high credit offtake) as underwriting standards and risk management are much better.
They were arrested with the 'cooperation of district authorities of Satara on the strength of Non-bailable Warrant of Arrest issued by the Court of Special Judge, CBI Cases, City Sessions Court, Mumbai', CBI spokesperson R K Gaur said in New Delhi.
Tata Capital will offer home loans at lower rates to women borrowers, on the lines of similar offerings being made by state-run institutions like SBI and LICHF.
India is poised to be the fastest-growing major economy in the world and an engine of global growth despite global headwinds, says leading industrialist and Aditya Birla Group Chairman Kumar Mangalam Birla. The economic activity in India has witnessed a sharp recovery to pre-pandemic levels on the back of a rapid and widespread rollout of the vaccination programme, Birla said in the latest annual report of UltraTech Cement Ltd. "A strong digital ecosystem, fiscal and monetary policy and various government schemes helped small and medium enterprises and the worst affected sections of the population to survive while reviving demand and bringing the economy back on track," said Birla while addressing UltraTech's shareholders.
Demonitisation will facilitate transparency in the real estate industry, which has had a notorious reputation as a safe locker for black money, says Saket Mohta.
Following are certain important things that lenders consider while processing loans to self-employed...
Looking for a way out, property developers deal in banned notes.
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Most infra projects have hit a road block due to high cost of funds.
Sensex, Nifty put up a good show in closing trade.
The chairman of mortgage giant HDFC Ltd in his annual letter to shareholders, also suggested a one-time restructuring of real estate loans, easing of external commercial borrowing rules and immediate changes in regulations to allow end-to-end execution of housing loans online.
Falling interest rates and availability of cheaper housing finance have proven to be the proverbial "dream come true" for those planning to take home loans.
Regulator probing jewellery houses for violation of collective investment scheme rules, says Shrimi Choudhary.
Officials of the international radio taxi service Uber will be questioned by the police for the second consecutive day on Tuesday in connection with the alleged rape of a 27-year-old finance company executive by its driver.
Kapoor is already facing an ED criminal case for receiving alleged kickbacks, through companies purportedly controlled by his family, for going slow on bad loans extended by his bank to some big corporate.
The cumulative m-cap of the companies listed on the BSE soared to a new peak of Rs 82,02,907 crore at 1200 hours.
'Cyrus was always very different. He would think before acting.'
'If credit is not available, people will postpone buying. That's what has happened.'
Six of the seven Bills listed on the agenda of the Rajya Sabha have already been passed by the Lok Sabha.
India Inc raised $2.78 billion from overseas markets in October this year, up 44 per cent from a year ago, according to the Reserve Bank data released on Friday.
Replying to a query in Rajya Sabha, Finance Minister Nirmala Sitharaman said there was no delay by the Centre in taking action after identification of fraud by the State Bank of India following the forensic report from Ernst & Young.
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