The Indian regulatory framework forced Citi to hibernate -- contrary to the claim that it never sleeps!
'...and defensive until the global macro headwinds turn more benign.'
Credit to priority sectors as well as small and medium industries will be discussed to find ways to accelerate economic growth.
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Banking as we know it will stand on its head in the next 10 years.
The Andhra Pradesh police have issued an "international lookout notice" against JM Financial chairman Nimesh Kampani and 17 others in a case involving Nagarjuna Finance, the non-banking finance company of the Nagarjuna group.
India may soon see a new set of oil barons with lesser-known companies venturing into crude oil and natural gas production. These new kids on the block have come up through a mix of entrepreneurial grit and backing from oil industry veterans. Nippon Power, South Asia Consultancy, PFH (Poddar Family Holdings) Resources and Chennai-based Adbhoot Estates could be the first ones to start production from blocks awarded during the first round of Discovered Small Field (DSF-1) auctions. Adbhoot is in a 50:50 joint venture with the Bombay Stock Exchange-listed Hindustan Oil Exploration Company that has some five oil producing assets and over 10 blocks across the country.
'Stick to FDs of shorter tenures, preferably one-two years.'
The stressed asset business will be a mix of an ARC and a distressed asset fund. Ambit has already started insurance brokerage and equity research and sales businesses this year. It closed a $100-million private equity fund called Ambit Pragma Ventures recently. It is also keen on starting proprietary trading.
The decline is attributed to lower salary growth and a rise in households' financial liabilities.
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.
While public sector banks have managed to maintain a growth of over 25 per cent during the year up to February, private and foreign banks have seen their growth in loan books shrink to single-digit rates on a year-on-year basis, as against over 20 per cent at the end of September, when the credit crisis intensified.
Gross bad loans of banks may rise from 6.9 per cent in September 2021 to 8.1-9.5 per cent by September 2022 if the Omicron variant strikes the economy hard, as per the financial stability report of the Reserve Bank released on Wednesday. The report also said that the rising stress level in the retail loan portfolio of banks -- the mainstay of bank credit for many years now -- was led by home loans, which grew in double-digits so far this fiscal. While asset quality improved, with gross non-performing assets (GNPA) and net NPA (NNPA) ratios declining to 6.9 and 2.3 per cent, respectively, in September 2021, the slippage ratio inched up during the same period as private sector banks showed a higher rate of deterioration in asset quality, as per the report.
The stock market may be at a new high this month, but there isn't much reason to cheer if the "early bird" financial results of companies are anything to go by.
Not surprisingly, equity investors are bidding-up stock prices across sectors and the broader market is now more valuable than pre-Covid levels.
But experts say downside limited, pockets of opportunities for investors
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.
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
Second-tier NBFC stocks are trading at 24.4x their trailing earnings, which is nearly twice their 15-year average of 13.9x
The combined weight of IT companies in the benchmark Nifty 50 index is now at a five-year high of 15 per cent as these companies continue to outperform the broader market.
The Supreme Court on Monday quashed JM Financial chairman Nimesh Kampani's petition on Nagarjuna Finance fraud case paving the way for his arrest.
Operator syndicate could be behind stock hammering, suspects regulator.
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.
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.
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.
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.
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.
