The affordable housing segment may be seeing an uptick which is a good sign of consumption momentum. This is the biggest-ticket purchase for middle income and lower income families. The current activity is at least partly driven by a pause in interest rate hikes.
The share of foreign loans in total Adani group debt portfolio dropped to 61 per cent by September 2023 from 63 per cent as of March 2023, as the group repaid part of its foreign loans and refinanced part of older loans. The share of Indian lenders, on the other hand, rose to 39 per cent in the total debt pie in September 2023 from 37 per cent in March after a report by US-based short seller Hindenburg Research in January last year, which led to volatility in the share prices of group companies. The group's total debt remained static at Rs 2.26 trillion in the same period.
Cox & Kings is currently going through the corporate insolvency resolution process. Around 2,500 operational creditors have submitted claims of over Rs 631 crore, 2,440 employees and workman have claimed dues of over Rs 94 crore and other creditors have submitted claims of over Rs 3 crore.
Domestic lenders to Enron Corp's $2.9 billion Dabhol power plant are considering applying to a local court for a stay on arbitration proceedings begun by foreign lenders, who want to exit the stalled project, said an official with a domestic lender.
Jacob Fugger could always add value for his customers. He made himself indispensable. That kept him in the game
DCHL owes the bank about Rs 200 crore (Rs 2 billion).
Shelar demanded that Desai's death should not be treated just as a case of accidental death, but must be dealt with from a larger perspective.
Crisil Ratings on Wednesday projected India's GDP growth at 6.8 per cent in the next fiscal and said the country will become an upper middle-income nation by 2031 with the economy doubling to $7 trillion. In its India Outlook report, Crisil said the Indian economy will take support from domestic structural reforms and cyclical levers and can retain -- perhaps even improve -- its growth prospects to become the third largest economy by 2031. "After a better-than-expected 7.6 per cent this fiscal, India's real GDP growth will likely moderate to 6.8 per cent in fiscal 2025," said the Crisil India Outlook report.
Lenders have postponed the second auction to sell bankrupt Reliance Capital's assets by a week to April 11, even as the Torrent group, the highest bidder in the first round, pursues litigation in the Supreme Court. Lenders are expecting the Hinduja group and Torrent to participate in the second auction and maximise the value of the assets. American financial services major, Oakteee may also join the race, said a source.
Education finance is a complex and dynamic sector. There are too many variables -- the course, the calibre of students, the universities, and the job prospects once the course is over, notes Tamal Bandyopadhyay.
More than half a dozen private-sector banks are awaiting regulatory approval for the appointment of a second whole-time director on their boards.
SBI says recovery process on as no court stay yet.
The trademarks/brands on the block include Fly Kingfisher, Flying Models, Funliner, Fly the Good Times, Kingfisher and Flying Bird Device.
The contribution from asset management companies (AMCs) has surpassed the Rs 3,000 crore target for the creation of a Rs 33,000 crore backstop facility for debt mutual funds (MFs). The initial corpus for the Corporate Debt Market Development Fund (CDMDF) is nearly Rs 3,100 crore, according to multiple government officials and AMC executives. "The fund is operational now. "The required corpus has been raised by AMCs and the remaining part (Rs 30,000 crore) is in the form of a guarantee from the government which will be activated only in case of a credit event," explained D P Singh, joint CEO and deputy MD, SBI MF.
If they encash shares, Dutch major Heineken will emerge as single largest shareholder in the company.
Kumar reportedly accused the financier of charging exorbitant interest on some loans obtained by him, and harassing him over the same.
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Private banks account for a total of 21.15 per cent in terms of advances in the overall banking system.
ICICI Bank, IDBI Bank, SBI and Canara Bank collectively hold 18.12 per cent equity in RGPPL, which operates the plant.
Axis Bank launches Ping Pay to enable fund transfer across various platforms
The brand name was pledged to 14 lenders, including State Bank of India (SBI), under a debt recast agreement in which loans valuing Rs 6,500 crore were restructured and converted into equity.
The Reserve Bank on Thursday tightened norms for consumer credit as it asked banks and NBFCs to assign a higher risk weight for unsecured personal loans, a move aimed at making the lenders more cautious on such advances. The risk weight on unsecured consumer loans has been raised by 25 percentage points. The new regulations, however, will not be applicable on housing loans, education loans, vehicle loans and loans secured by gold and gold jewellery, the Reserve Bank said in a circular.
>It's not easy to predict the market. But there are at least two positive factors to back the PSU banks, explains Tamal Bandyopadhyay.
'Considering Pai is putting his own personal money in Byju's, stakeholders in the company can look forward to more governance and transparency.'
Clad in his trademark kurta pyjama Vikram Akula has never been at a loss for words while articulating to the media the pivotal role that micro-lending can play to liberate the rural poor from the clutches of money lenders. It earned him the status of poster boy for the microfinance industry.
Cox & Kings had a total debt of Rs 3,238 crore at end of FY19 and this included both short-term and long-term loans.
'Due to the fear caused by the Byju's crisis, several employees have chosen to take up entry-level jobs in firms other than edtech.'
The governor made it clear that the RBI is aware of what's happening and acts accordingly, but doesn't make a noise about that, points out Tamal Bandyopadhyay.
To take up debt restructuring of cash-strapped retailer.
Domestic rating agency Icra on Monday upped its banking sector outlook to 'positive' on healthy asset growth, improving asset quality and stronger capital buffers. The agency expects asset quality to improve to a decadal best of 4 per cent from a gross non-performing assets (NPAs) perspective by the end of FY24. The banking system's credit growth will slow down to 11-11.6 per cent in FY24, after a very healthy growth of 15.2-16.1 per cent expected in FY23, the rating agency said.
'Given the inherent volatility, investors should take at least a three to five-year view.'
It is 10 years since Bandhan Financial Services became the first microfinance institution (MFI) to receive the universal bank licence. A year later, in 2015, it started operations. Bandhan's entry into banking was seen as a vote of confidence by the Reserve Bank of India (RBI) for the country's microfinance sector. Subsequently, the RBI awarded small finance bank licences to nine MFIs.
If they are made accountable, bad loan cases will shrink dramatically, recoveries will rise, and the NCLT process will be more manageable, asserts Debashis Basu.
Of the 2,562 customer complaints received between January 2020 and March 2021, a majority relate to illegal apps. At least two dozen suicide cases have been reported, perpetrated by the harassment by loan app operators, points out Tamal Bandyopadhyay.
The merger of housing finance major HDFC with the country's largest private lender HDFC Bank will be effective from July 1, HDFC chairman Deepak Parekh said on Tuesday. The boards of HDFC and the private bank will meet on June 30 post to clear and approve the merger, Parekh told reporters in Mumbai. The merger of the corporation with HDFC Bank will be effective July 1, Parekh said.
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