The combined interest payment for India's top listed companies, excluding financial and oil and gas firms, was up 15.2 per cent year-on-year during the six months ended March 2019, outpacing the change in net sales and operating profit.
The meeting came amid a face-off between the central bank and the finance ministry over issues ranging from appropriate size of reserves that RBI must maintain to ease of lending norms to step up growth in an election year.
Back in March this year, when the Reserve Bank of India stepped in with a cap of 60 per cent on the loan-to-value ratio for gold loan non-banking financial companies, it said it was acting to pre-empt systemic risks and to safeguard public funds.
For the first time in our economic history a government has thought about more than 50 per cent of our economic activity instead of the five per cent represented by the Sensex companies, observes IIM-B professor R Vaidyanathan.
Kolkata tops the list with 617 cancellations, New Delhi stands second with 203, followed by Mumbai at 190.
"So you will not have anything better... democracy loving, capitalist respecting environment... in India," Sitharaman said at the event hosted by the Federation of Indian Chambers of Commerce and Industry in association with the US India Strategic and Partnership Forum.
In the past three years, personal loans have grown at twice the rate of growth in personal disposable income, leading to a steady rise in household indebtedness. At the end of March this year, Indians owed Rs 25.2 lakh crore to banks and listed non-banking finance companies (NBFCs), up 65 per cent in the past three years.
Here's a surefire test -- aptly called the AI & A test -- to help you sift good loans from the bad ones.
The Union Budget 2016-17 has cheered the NBFC sector
What is confusing for many investors though is the tax structure on these real estate transactions. Here, we will explore the tax liability on such transactions, also known as capital gain (or loss depending on whether the investor made money on the transaction).
The interest offered is mostly 0.5 to 1 per cent more than what other banks offer. Moreover, customer service and long-term association spanning generations are also other reasons for the popularity.
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.
Making life easier for people, the Reserve Bank on Thursday allowed holders of pre-paid payment cards, to deposits school and college fees and pay taxes in addition to buying rail and air tickets within the prescribed limit of Rs 10,000.
Members of Parliament, state legislatures, and local governments not eligible to be members of PSB boards
'Those who come from outside are surprised at the relatively small strength of the RBI supervisory cadre, relative to the needs of the country and the needs of the financial sector.'
Ajit Mishra, vice president, Research, Religare Broking, answers queries on how to invest in stocks.
The industry needs stimuli to help revive consumer demand and conversions.
YES Bank, Bank of Baroda, SBI, IndusInd Bank, and RBL Bank are amongst the banks, Jefferies says, are most prune to "high risk" emanating from ADAG, Cox & Kings, CG Power, DHFL and Essar Shipping.
The latest roadmap for exempts banking, insurance and non-banking finance companies
The new regulations by the Reserve Bank of India (RBI) on microfinance have prompted MFIs to go for a makeover, in order to cope with the new limitations imposed on them.
After the rationalisation and categorisation of mutual fund schemes undertaken by the Sebi in October 2017, overnight funds have emerged as a distinct category.
Sitharaman said economic slowdown seems to have bottomed out and the coming festive season will help the economy start looking up.
The Reserve Bank, in Annual Monetary Policy Statement, has also asked banks to set up internal exposure limits for those non-banking financial companies who have gold loans portfolio of more than 50 per cent of the total financial assets.
'One way of doing this could be offering credit guarantee to the banks, say 10 per cent, for fresh loans given to micro, small and medium enterprises,' observes Tamal Bandyopadhyay.
The committee said that to qualify as an NBFC-MFI, an NBFC should provide financial services predominantly to low-income borrowers.
During the fourth quarter (January-March), banks step up the activity to meet annual targets. This leads to a race to raise funds from markets often by jacking up deposit rates. This time around, the market has not seen such trend yet.
The lockdown that crippled the entire logistics, delivery and supply chain network to near zero, was enough to deal a body blow to India's fastest growing unicorn whose very business model saw a severe disruption, like several other firms and sectors.
Liquidity has improved, but 20 out of 24 NBFC stocks are staring at an over 5% reduction in 12-month target prices.
The power sector lender is mulling the coupon it would be offered in a falling interest rate scenario.
SBI keeps IDBI waiting for proposal to set up infra development fund
Monday saw the Sensex post its weakest closing since July 11 when it settled at 36,265.93. In the previous four sessions the index had lost 1,249.04 points.
Financial planners advise against putting capital to work by anticipating what might go up or down.
For customers who want to know their individual credit rating scores, buying a credit information bureau's (CIB) report will take just a few minutes. However, trying to clear any lapses in that report could take a month. Besides, almost always, the onus of getting the lapses rectified will remain with the customer.
According to industry players, over 50 FMPs have exposure to Zee Group companies.
'This is not the right way to speak about farmers. How can Kumaraswamy call farmers goondas?'
'Common sense says if one can afford, servicing the loans during this period is a better bet than postponing it by three months,' says Tamal Bandyopadhyay.
The government also proposed promoting 'one product one district' for better marketing and export of horticulture crops. It also called on states for early implementation of three key central model laws on land leasing, agriculture produce and livestock marketing and contract farming.
Advice to the new finance minister from former RBI governor Raghuram Rajan: 1. Clean up banks by reviving projects that can be revived after restructuring debt. 2. Improve governance and management at public sector banks. 3. De-risk banking by encouraging risk transfers to non-banks and the market. 4. Reduce the number and weight of government mandates for public sector banks, and for banks more generally.
The regulatory actions, undertaken by the RBI and the government, came hours after finance ministry sources confirmed that SBI was directed to bail out the troubled lender. For the next month, Yes Bank will led by the RBI-appointed administrator Prashant Kumar, an ex-chief financial officer of SBI.
