You would find NBFCs more willing to lend even if you have a poor credit score, says Adhil Shetty
Heading to the third year, will Urjit Patel be busy firefighting a currency crisis? Almost no governor of the RBI managed to evade it and Patel perhaps knows it.
But experts say downside limited, pockets of opportunities for investors
Second-tier NBFC stocks are trading at 24.4x their trailing earnings, which is nearly twice their 15-year average of 13.9x
Banks get bonds boost to raise funds for core sector; up to Rs 50 lakh of home loans in metros and Rs 40 lakh in other cities not to have CRR, SLR requirements
Operator syndicate could be behind stock hammering, suspects regulator.
The Supreme Court on Monday quashed JM Financial chairman Nimesh Kampani's petition on Nagarjuna Finance fraud case paving the way for his arrest.
Finance Minister Nirmala Sitharaman on Wednesday announced Rs 3 lakh crore collateral free automatic loan for businesses, including MSMEs, to benefit 45 lakh small businesses. Detailing parts of the Rs 20 lakh crore economic stimulus package, she said this loan will have a 4-year tenure and will have 12-month moratorium, she said.
Permitting realty firms to tap ECBs, relaxing borrowing norms for non-banking finance companies, increasing the ECB limit 50 per cent to $750 million under the automatic route (that is, without central bank permission) and raising the price ceiling at which overseas loans can be raised are among proposals the committee is considering. For realty, the committee may relax norms only for integrated township projects, said a top finance ministry official.
The RBI's reluctance to cut rates should be seen as a case of inability in the face of inflation.
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.
To deepen the financial inclusion process, and help get more people under the formal financial system, the RBI has mooted the idea of small banks and payments banks.
IFMR Capital previously pioneered the multi-originator securitisation.
How will the RBI announcement on loan moratorium work for those with home loans, auto loans, personal loans, consumer durables loan? Here's what experts have to say.
In an effort to soothe nerves of the country's mutual funds and the non-banking finance companies, the bankers today assured that they would come forward to support these financial institutions' funding needs including liquidity to meet redemptions.
Power2SME, a one-stop shop for sourcing and buying raw materials for SMEs, is the only B2B firm in this space.
Sahara India Financial Corporation on Tuesday got a fresh lease of life, with the Reserve Bank of India allowing it to accept fresh deposits that mature in three years. The move ends the two-week-long uncertainty over fates of the 42.5 million depositors of the Subroto Roy-controlled residuary non-banking company.
Sahara and Peerless are classified as residuary non-banking finance companies (RNBCs), which are now required to invest 100 per cent of their deposits in approved securities, including government bonds, fixed deposits with banks and mutual funds.The RBI has also asked the two RNBCs to submit alternative business plans.
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Revenue yield on every rupee of investment fell to Rs 1.06 in FY13 from Rs 1.20 in FY08.
Payments banks will mainly deal in remittance services and accept deposits of up to Rs 1 lakh.
More and more banks are sensing big opportunity in the high-margin, small consumer loans business.
In advanced economies where the financial system is more matured, the form of shadow banking is more of risk transformation through securitisation.
They have cited higher capital for bad-loan provisioning, pending legislative amendments, and delay in finalising rules by the Reserve Bank of India (RBI) as some of the reasons.
"The NBFC gives us greater flexibility in functioning. Retail and broking businesses can be affected by the ups and downs in the market, but private banking does not get affected as high networth individuals continue to get high salaries and earn profits. However, on the individual risk profile, the asset class keeps changing," said Nipun Mehta, head and executive director, SG Private Banking India.
The Bombay high court has ruled that LIC has to honour claims made by lenders, that is banks, non-banking finance companies and financial institutions, if an LIC policyholder defaults in repaying the loan to the lender.
The India growth story is still intact, and fall in the Indian stock markets is an imported one and if the government succeeds in legislating the GST and Land Bill, India could yet emerge as a winner believe stock market experts
At the end of 2018-19, the Tata group had a consolidated debt of Rs 2.77 trillion. Tatas not only plan to avoid big-ticket acquisitions for now, the group's main focus will be on improving key metrics and reduce debt, say Shally Seth Mohile & Dev Chatterjee.
India's economy has bounced back amazingly from the Covid-19 pandemic and nationwide lockdown over the last one year, but it is not out of the woods yet, according to the World Bank, which in its latest report has predicted that the country's real GDP growth for fiscal year 21/22 could range from 7.5 to 12.5 per cent.
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.
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.
Even if Mudra steps in to play its main role of refinancing at some stage, the responsibility for the bad loans remains with the banks.
Kotak Mahindra Bank to have a 19.9% stake in the proposed banking venture.
Wipro, Steel Authority of India, HDFC Bank, Mahanagar Telephone Nigam, Bharat Heavy Electricals and Reliance Commnications among companies reporting a decline in headcount in FY17.
