'If businesses are focused on de-leveraging, they can hardly be investing. This is the price extracted by investment mistakes during UPA rule, and should have been foreseen. 'But Modi-I must share the blame, for muted reform of the financial sector, partisan policy in telecom, the harm done to exports by an over-priced rupee, and so on,' says T N Ninan.
It's not widely advertised, but a few banks and non-banking finance companies (NBFCs) provide loans against used cars.
Rakesh Singh joined the non-banking finance company as chief executive officer earlier this month after a 15 year stint with Standard Chartered Bank.
Regulations have sought to address several key concerns.
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 Standard Chartered Bank is set to ask three of its executives to go on leave following complaints made by a few high net worth clients on mis-selling of products.
The first half of 2019-20 will be under pressure, since prices are expected to go up by Rs 7,000-8,000 at a time when sentiment is poor.
While Jet founder Naresh Goyal said he was willing to infuse Rs 700 crore and also pledge all his shares in the company provided he can have at least 25 per cent stake, the airline's foreign partner Etihad Airways insists he must not keep more than a 22 per cent stake.
The Bill's 2007 version covered only MFIs not regulated by the Reserve Bank of India.
The Reserve Bank of India on Tuesday allowed for-profit companies with large and widespread retail outlets to act as business correspondents. The move will both deepen and broaden financial inclusion. Non-banking finance companies, however, have been excluded from the list.
Of these 26, Bajaj Finance, Associated Alcohols and Breweries, Garware Technologies, Filatex India, Tasty Bite Eatables, Aarti Industries and GMM Pfaudler saw an over 10-fold surge in price since 2014.
For a borrower, who has serviced his loan without missing any repayment, the banks will be willing to take over the loan, give a top-up, and would offer lower interest rates, says Tinesh Bhasin.
The RBI governor's assurance should give investors enough confidence to start believing in the NBFC sector again, say bankers.
Listed realty developers saddled with unsold properties worth Rs 1 trillion
"A lot of PE investors are interested in renewable energy and we are exploring PE investments for our wind energy initiatives," said Thomas John Muthoot, chairman and managing director.
NBFCs are facing the heat of a crisis at IL&FS, which defaulted on repayment of its commercial paper dues, leading to a contagion effect in the sector.
The general nervousness because of the IL&FS default will prevail in the system for now.
Keki Mistry, bottom, left, vice-chairman, Housing Development Finance Corporation (HDFC), tells Joydeep Ghosh that debt fund investors could become risk-averse, leading to problems for other non-banking financial companies.
Enlarging the scope of its investigation, the finance ministry has asked some non-bank finance companies for loans-related information on an urgent basis.
Regulators find it difficult to track down illicit transactions with no limit on the number of subsidiaries.
Here's what borrowers must pay attention to before going for such medical loans.
Collection dived to 75-80% in November-December from 99% after demonetisation.
DE Shaw, a global private equity (PE) and hedge fund company, is close to acquiring a 14.2 per cent stake in New Delhi Television (NDTV) for Rs 70 crore (Rs 700 million).
Tamal Bandyopadhyay offers some unsolicited advice for a government wh,ich came to power, with brute majority and the nation's pragmatic chief money man.
'When bankers are hounded by investigative agencies for credit decisions going wrong and defaulters are treated like outcasts, who will borrow money and who will lend?' asks Tamal Bandyopadhyay.
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.
Mahindra & Mahindra, the diversified business group with significant interest in automotive and information technology, is looking at setting up an aircraft financing arm in Australia
Corporate leaders said a stable government at the Centre will help boost infrastructure spend, address agricultural distress, and encouraging employment.
Finance Minister Pranab Mukherjee's Budget speech on Friday brought closer to reality, billionaire industrialist Anil Ambani's dream of entering the banking sector.
Share prices of Dewan Housing, Indiabulls Housing, and PNB Housing have declined 30-80% in the past one year
The Reserve Bank on Thursday said it is considering the possibility of allowing Islamic financial institutions to function as NBFCs since Islamic banks are not permitted under the present laws.
13 eminent economists, including former RBI governor Raghuram Rajan and current International Monetary Fund Chief Economist Gita Gopinath, in a report have asked the political establishment not to resort to populist tricks.
The first quarter of 2018 saw infrastructure and real estate drive investment worth close to $8 billion across 180 deals
Last month, Competition Commission of India, apex body that operates to sustain and promote competition, sent notices to atleast 15 banks, non-banking financial companies and Indian Banks' Association seeking explanation on why they penalise borrowers who choose to foreclose loans.
'If India can only grow at 5%, why bother spending time on the country?' asks Akash Prakash.
You can get a lumpsum sanctioned, but you may draw only part of it and pay interest on the amount used.
The RBI also sought to know 'whether industrial and business houses could be allowed to promote banks.'
'The snakes and ladders game will continue till the consolidation process is complete simply because we don't know how bad the scene is, with some of the banks being merged,' says Tamal Bandyopadhyay.
Rashtriya Janata Dal chief Lalu Prasad has no immovable assets but Rabri Devi, his wife who is also former Bihar chief minister, has over Rs 1.41 crore in terms of landed property.
The group firms reported combined losses of Rs 6,134 crore in FY19 against a net profit of Rs 5,414 crore a year ago. Excluding Vodafone Idea, the group reported a net profit of Rs 8,470 crore, down from a profit of Rs 9,582 crore a year ago.
