Page 6 - Bank Loans

Bank of Maharashtra waives loan processing fees under special offer

State-owned Bank of Maharashtra (BoM) has announced a slew of offers, including concessional interest rates and a 100 per cent waiver on processing fees on retail loans. The bank under 'Retail Bonanza-Monsoon Dhamaka' waived the processing fee for its gold, housing and car loan and the offer is valid till September 30, 2021, BoM said in a statement on Friday. The bank offers housing and car loans with interest rates starting from 6.90 per cent and 7.30 per cent, respectively. The retail products are backed by several lucrative features like two free EMIs on regular repayment in the home loan; loan facility up to 90 per cent in the car and housing loans; and no pre-payment/pre-closure/part payment charges etc., it said. Commenting on the special offer, BoM executive director Hemant Tamta said, "We intend to gift our customers an attractive proposition for availing gold, housing and car loans, who will be benefited from lower rates and waiver of processing fee offer. The Pune-based

PNB Housing aims to bring corp loan book below Rs 10k cr by March 2022: MD

PNB Housing Finance is targeting to reduce its corporate loan book to below Rs 10,000 crore by the end of this fiscal as it seeks to focus more on retail lending activities, according to a top company official. The company's corporate lending stood at Rs 10,989 crore at the end of the first quarter of 2021-22, accounting for 15 per cent of its Asset Under Management (AUM) and the latter touched Rs 71,828 crore during the same period. However, PNB Housing Finance's loan assets declined to Rs 60,438 crore at the end of June this year compared to Rs 68,009 crore in the year-ago period. The business of the company, promoted by state-owned Punjab National Bank (PNB), has been hit by the second COVID wave. "This quarter (June 2021) itself, we have been able to reduce the book by about Rs 800 crore in terms of corporate (lending). And we would like to bring it down to below Rs 10,000 crore (by March 2022)," Hardayal Prasad, Managing Director & CEO of PNB Housing Finance, told PTI in an ..

Banks use ARCs for ever-greening: Parliamentary Committee on Finance

Calls for encouraging banks to bring down their leverage, says present "grim situation" should not be used as an alibi for bank privatisation

Retail loans, long a safe bet for many banks, show uptick in defaults

HDFC Bank, ICICI Bank and Axis say bulk of the loans marked substandard in April-June was in retail category, but expect turnaround as lockdowns end.

RBI eases norms for loans given by banks to directors of other banks

The Reserve Bank of India (RBI) on Friday said banks without their boards' approval can sanction personal loans up to Rs 5 crore to directors of other banks.

Banks explore option of invoking personal guarantee of promoters, says SC

Armed with Supreme Court order, banks may invoke personal guarantees of tycoons ranging from Venugopal Dhoot to Kapil Wadhawan to recover unpaid loans from their delinquent firms, sources said Monday. According to an estimate, top 10 personal guarantors have guaranteed debt of over Rs 1.6 lakh crore. Among the big names, former promoters of Bhushan Steel and Power Sanjay Singhal and his wife Aarti Singhal had furnished personal guarantees worth up to Rs 24,550 crore to take loans from a consortium of bank led by State Bank of India (SBI). The former promoter of Reliance Communications, Anil Ambani, has also given personal guarantee against the loan taken. Erstwhile promoter Wadhawan stands guarantee to loans taken by DHFL, which is sitting on debt of about Rs 90,000 crore, while Dhoot has also given personal guarantee to a portion of Rs 22,000 crore loan to Videocon. The Supreme Court in May had held that the November 15, 2019 government notification allowing creditors, usually ...

Restructured loans of non-bank financials to double by March: ICRA

The pandemic and the curbs imposed to contain its spread have affected the cash flow of borrowers and prolonged the recovery process, according rating agency ICRA

Status check: Banks are yet to build up a robust 'Covid loan book'

The RBI came up with the scheme on May 7, mainly for the health sector. It subsequently increased the amount to include contact intensive sectors to ease the hardship

Debt cut strategies useful for borrowers but they come at a cost

Loan restructuring and moratorium increase interest outgo

Cash-strapped Pak inks agreement with Saudi Arabia bank to borrow $4.5 bn

A debt-ridden Pakistan has signed an agreement with Saudi Arabia-based Islamic Development Bank (IDB) to borrow $4.5 billion to alleviate oil and gas shortages

Valuation of SBI, subsidiaries can be better: Chairman Dinesh Kumar Khara

The early numbers indicate that we have seen traction in the retail book. But, not much traction was seen in the corporate book, said Dinesh Khara, Chairman, SBI

Retail, farm credit get traction in May amid Covid-induced slowdown

Credit to Mid, small units also see higher growth

Averse bankers, willing RBI push companies towards the bond market

The corporate bond market is still dominated by financial companies, but non-financial companies have marked their presence in the past one year

Best of BS Opinion: The credit push, post-Covid economy, and more

Here are the best of Business Standard's opinion pieces for Tuesday

Booster dose: Govt unveils Rs 6.3-trillion package to spur growth

Includes credit guarantee schemes, steps to revive tourism, strengthen health infra

The credit push

Relief package is well-intentioned but won't move the needle much

RBI proposes to lift interest rate cap on microfinance institutions

Proposes debt-income cap; common rules for all micro-loan lenders

'We're not experts': Supreme Court rejects plea for loan moratorium

These are all in the realm of policy decision. These are issues having financial implications and we are not the experts, the Court said

Here's how you can take charge of family's finances after spouse's death

File insurance claims, repay loans, and synchronise investment portfolio with altered risk profile

The road ahead for State Bank of India

The elephant in Indian banking has already become nimble-footed. Its new boss, Dinesh Khara, needs to choreograph the steps for its dance