This relaxation is available to entities running working capital accounts with any bank with the sanctioned limit of Rs 1 crore or less
The Pradhan Mantri MUDRA Yojana can lend between Rs 50,000-Rs 10 lakh to small entrepreneurs.
Lok Sabha passed the Finance Bill, after approving more than two dozen official amendments, by voice vote, thus completing the Budgetary exercise for 2019-20 in the Lower House.
From Ranbaxy to Religare, Aashish Aryan takes you through a maze of legal cases involving Malvinder Mohan Singh and his younger brother Shivinder Mohan Singh. Both are in police custody following a complaint of fund siphoning.
To a question related to RBI's policy rate, Rajan said no amount of interest rate cut is going to help if credit growth is weak.
Market players said NBFCs and HNIs are recalibrating their plans based on the changing dynamics.
The problem for the NBFC sector is the funding inertia by banks and not lack of funds.
Experts say this is a good time to buy a house for self-use, points out Sanjay Kumar Singh.
Hamsini Karthik reveals why the ongoing business rejig will help unlock value for shareholders of Grasim, Reliance Capital and Tube Investments
The country was, in February, put on the list of jurisdictions that require increased monitoring. These are done to counter money-laundering, terrorist financing, and proliferation financing in a more efficient manner.
RBL Bank is no Yes Bank. It's not fraught with fraud. It's a story of limitless ambition and greed for growth under a leader who doesn't want to give up, says Tamal Bandyopadhyay.
If you have availed a home loan from an NBFC, you can shift your existing home loan to a bank and benefit from the MCLR regime, suggests Ratan Choudhary, head - home loans, Paisabazaar.com.
'The solution is to enable a graceful transfer of the deposit and funding 'franchise' from capital-deficient firms to capital-surplus firms.' 'This will expand credit intermediation, bring down its costs, and put the financial sector on a definite path of recovery,' argues former RBI deputy governor Viral Acharya.
'In the business of money, where you are regulated, the liability lies on the head of the acquirer.' 'It is not a good thing when you cannot spot the risks.'
'The fact that housing units worth a whopping Rs 4.5 lakh crore in top seven cities are stuck under various stages of non-completion indicates that there is a dire need to create stress-asset fund which will help bail out lakhs of distressed homebuyers,' says Anuj Puri, Chairman, Anarock Property Consultants, a real estate services company.
.jpg)
Currently, there is no standard method for arriving at the value of gold accepted as collateral and valuation is arbitrary and opaque.
The deadline for officers to decide on their career path in the biggest organisational rejig in the central bank's 85-year history ends on January 31. The immediate fallout could be its disruptive impact on the supervisory process for 2020 -- and beyond -- given the manpower shortfall, even as more entities are set to come under closer central bank scrutiny.
The RBI rejection is a second blow to BoB - the lead bank of both companies -- after a Delhi high court order on August 18 stayed a move by BoB and the entire consortium of lenders to classify these accounts as fraud, restraining them from taking any other coercive action till the next hearing.
India's huge digital prowess and potential will play a huge role in enabling digital lending, says Romita Majumdar.
Reserve Bank of India Governor Shaktikanta Das tells Anup Roy, Raghu Mohan and Niraj Bhatt that it is time for banks to lower interest rates and start lending to cash-starved finance companies after due credit appraisal and proper risk assessment.
Progress on the steps taken by Governor Shaktikanta Das' predecessor Urjit Patel to restore financial system integrity will be a key thing to assess any damage to the institution, Subramanian said.
Nominating Das, the Banker magazine, which announced the award, said India's banks have faced a series of challenges, from non-performing loans to issues around fraud. Faced with these challenges, Shaktikanta Das has taken steps to bring banking in India up to standard via a restrained approach to governance.
Rating agency ICRA on Wednesday revised down its credit growth outlook for banks to 2-3 per cent for the current fiscal, and said the coronavirus pandemic-driven stress may leave 3.1-3.7 per cent of assets into bad loan list by March.
'But we are much better than what we all had expected and planned, and what all the prophets of doom had predicted.'
New players show up after 3 years; northern states take lead in loan growth.
The fall came on the back of a massive selloff in NBFCs, led by DHFL which skidded over 50 per cent on fears of a liquidity crisis.
New borrowers should go for banks over housing finance companies as the new benchmark -- MCLR -- is more transparent.
Industry fears waiver of interest on interest would distort credit culture, may encourage borrowers who can pay to defer repayment.
North Block is concerned that when India is trying to attract more investment, putting up restrictions on audit firms could create an avoidable bad advertisement.
'This is the first time we will see how SIP investors react to market correction.'
With the difference between lending rates of banks and NBFCs narrowing, base your choice on urgency of requirement.
Suggests cheque-only transaction for transaction beyond certain threshold.
Most banks led by the State Bank, have or are going to declare DHFL account as NPA in the third quarter.
The combined profit before tax of 748 companies, which have declared their results for Q1FY21, is down 46 per cent YoY. Their net sales went down by a quarter as the Covid-19 lockdown led to a sharp fall in economic activity.
White labeled ATMs are set up by private non-bank companies that own and operate their own brand of ATMs.
'In times of recovery, we may see a rural-urban divide with the urban pockets affected more by COVID-19, but the MFI business model should encourage banks to handhold them in this hour of crisis,' notes Tamal Bandyopadhyay.
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
V Vaidyanathan, former executive director at ICICI Bank who turned entrepreneur to run Capital First, an NBFC that caters to smaller businesses, tells Pavan Lall in an exclusive interview that his new entity post the merger of Capital First and IDFC Bank which will be called IDFC First will launch by January and cater to a new India with value services.
