New players show up after 3 years; northern states take lead in loan growth.
The disruptions caused by COVID-19 have more severely impacted small and mid-sized corporates, including NBFCs and MFIs, in terms of access to liquidity.
With the difference between lending rates of banks and NBFCs narrowing, base your choice on urgency of requirement.
PSBs have been requested to reach out to MSMEs to provide bill discounting to them against their dues since they suffer the most from shortage of cash.
White labeled ATMs are set up by private non-bank companies that own and operate their own brand of ATMs.
The probe agency found irregularities in loans amounting Rs 3,642 crore sanctioned by Yes Bank to the travel firm.
Suggests cheque-only transaction for transaction beyond certain threshold.
In three separate but similarly-worded orders, Sebi said the default by IL&FS occurred due to "lethargic indifference and needless procrastination and laxity" of the rating agencies.
The Reserve Bank of India (RBI) clarification on the final norms for new bank licences has much to mull on for the many entities interested. It has clearly ruled out any benefit to the new entrants in terms of more time to meet the cash reserve ratio/statutory liquidity ratio (CRR/SLR) requirements.
Ex-Citi CEO to be non-executive chairman of the NBFC and its proposed bank
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.
The move comes against the backdrop of rising instances of people getting duped by illicit money pooling activities
The brokerage said the consolidated fiscal deficit, including that of the Union (3.6 per cent), the states (2.6 per cent) and the off-budget borrowings which are being resorted to increasingly is a worry.
As per a Knight Frank FICCI Naredco report, a majority 69% of the stakeholders say that the residential sales will remain tepid or may even go down further in the coming six months.
During the meeting with Finance Minister Nirmala Sitharaman, it was also suggested that employees' provident fund should increase its exposure in the stock market, which in turn would improve liquidity.
The biggest challenge with public sector banks is the processing time, which is why starting early helps.
For non-banks, the IL&FS crisis was nothing short of India's Lehman moment, which has for a foreseeable future reset the sector on multiple grounds.
Sector-wise, the study revealed that the core industries have witnessed virtually negative growth in headcount, with crude oil just about maintaining the employment level.
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
'I suggest a cut in the GST rates and an infusion of Rs 1.2 trillion into the economy in six months.'
We present here Anshuman Magazine's wishlist.
'The variables to watch include the monsoon, resolution of NBFC liquidity issues, GST collections, and NPA resolution.'
Co-founders of India's latest unicorn expected Covid-19 to be a speed breaker; instead it accelerated sales. Cars24 now enjoys more than 90 per cent market share among all other similar online transaction platforms. Dhruv Munjal traces the birth of this used-cars platform.
In 2009, the UPA government, had announced a slew of measures to boost liquidity in NBFCs. These included a scheme for providing liquidity support to NBFCs having assets size of over Rs 100 crore through a SPV.
'Our preference remains for the less-expensive industrial stocks, which are showing good earnings momentum.'
Experts say that the lockdown and its aftermath will further quicken the consolidation in the real estate sector, which has been taking place since 2012, with more small players going out of the business and bigger, branded players dominating the market.
For FY21, CSB is looking at growth of around 25 per cent and is confident of doubling it in two years. And it is also exploring options to acquire a mid-size bank with a good client base and branches in the north to acquire an all-India presence.
'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.
Owing to the risk perception attached with the segment by banks, the residential realty segment has been increasingly relying on non-banking financial companies and housing finance companies to raise debt financing, reports Abhijit Lele.
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A discount on the product may make a credit card loan seem cheaper than a consumer durable loan. But missing a payment in case of the former will mean exorbitant charges.
The RBI governor, who made a presentation about the state of the economy as well about the world economy to the 31-member Parliamentary Standing Committee on Finance, stayed clear of controversial questions like government invoking special powers.
On a net basis, foreign portfolio investors bought Rs 446 crore worth of domestic stocks on Thursday and domestic institutional investors (DIIs) were net buyers to the tune of Rs 49.68 crore, provisional data available with BSE suggested.
The SBI report, however, said the economic growth rate will pick up pace in 2020-21 to 6.2 per cent.
The broadening of the market rally sends the signal that growth will be broad-based, observes Akash Prakash.
Five to six issues may hit the market if Chalet Hotels's IPO is successful and if there are no negative surprises in the Union Budget on February 1.
Stocks of most non-banking finance companies (NBFCs) were on a crash course on Wednesday, with the Reserve Bank of India excluding loans given to the sector from the priority sector list.
The NSE Nifty gained 77.85 points, or 0.71 per cent, to finish at 11,008.30. Intra-day, it shuttled between 10,821.55 and 11,035.65.
Given that there are hundreds of players in the shadow banking space, it's hard to make a credible estimate of potential NPAs. That creates more scope for panic, says Devangshu Datta.
German luxury car maker BMW on Tuesday launched its financing arm in India with an investment of $50 million (about Rs 230 crore) to serve the credit needs of retail customers, fleet owners and dealers.
Observing that the economic recovery was not yet fully entrenched, the RBI Governor said recovery is likely to be gradual.
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