Page 5 - Loans

Analysts bet on consumer financiers as festive cheer perks up loan demand

Demand for consumer goods, automobiles, white goods has been holding momentum, which should translate into good credit off take for consumer financiers this festive season, analysts said

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One in every six MSME loans under ECLG scheme turned into NPAs: Report

The National Credit Guarantee Trustee Company Ltd (NCGTC) declared that 1.6 million accounts or 16.4 per cent of the total 9.8 million loans disbursed have been converted to NPAs

Indian banks' loans rose 15.5% YoY in two weeks to Aug 26, says RBI

Bank deposits rose 455.09 billion rupees to 169.94 trillion rupees in the two weeks to Aug 26

Adani Group says not overleaveraged, loans from public sector banks halved

Richest Indian Gautam Adani's conglomerate has cited an improved net debt to operating profit ratio and more than halving of loans from public sector banks to allay concerns about it being overleveraged. In a 15-page note in response to CreditSights report calling the group overleveraged, it said companies in the group have consistently de-levered, with the net debt to Ebitda ratio declining to 3.2 times from 7.6 times in the last nine years. "The businesses operate on a simple yet robust and repeatable business model focused on development and origination, operations and management and capital management plan," the note, reviewed by PTI, said. The group had a gross debt of Rs 1.88 lakh crore in March 2022 and net debt of Rs 1.61 lakh crore after considering the cash balance. While loans from public sector banks in 2015-16 accounted for 55 per cent of all debt of the group firms, in 2021-22, borrowing from PSBs made up for 21 per cent of all debt, it said. In FY2016, private banks

Canara Bank to raise benchmark lending rate by up to 0.15% from Wednesday

Canara Bank on Tuesday said it has hiked the benchmark MCLR by up to 0.15 per cent, a move that will make loans costlier. The revised marginal cost of funds-based lending rate (MCLR) across various tenors would be effective from Wednesday, the lender said in a regulatory filing. The benchmark one-year MCLR will be 7.75 per cent against the existing rate of 7.65 per cent. The one-year rate is used to fix most consumer loans such as auto, personal and home loans. The overnight and one-month tenor MCLRs are raised by 0.10 per cent each while the three-month maturity bucket increased by 0.15 per cent or 15 basis points to 7.25 per cent. The hike is in line with other peers following RBI raising its key lending rate last month. RBI hiked repo rate, at which the central bank lends to banks, by 50 basis points to 5.4 per cent.

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Maharashtra state bank employees union protests govt loan melas

The federation's secretary, said in a statement the Congress government before "distributed hundreds of crores" by organising loan melas and now the present government is on the same lines

Bank union opposes public sector banks' 'loan melas' on NPA pile-up fears

The Maharashtra State Bank Employees Federation (MSBEF) on Monday opposed 'loan melas' organised by state-owned banks, saying that credit granted without much diligence at such events lead to pile-up of non-performing assets. Such 'melas' add to the retail Non-Performing Assets (NPAs) for the lenders as the loans are granted without much diligence, MSBEF said in a statement. The statement comes on a day when Union minister of state for finance Bhagwat Karad is attending one such mela in Maharashtra's Aurangabad, where public sector lenders are targeting to distribute Rs 2,900 crore of loans. Stating that past experience suggests borrowers stop repayments for such loans, the MSBEF said, no political party helps in the loan recovery process. "The same political parties demand for waiver of those loans so as to appease voters" during elections, it said, adding that such events vitiate the recovery atmosphere. Public sector banks are put into crisis through NPAs, and the same is used

Comply with digital lending norms for existing loans by Nov 30: RBI

Guidelines applicable to new and existing customers taking fresh loans

Loans against sovereign gold bonds may help reduce borrowing cost: Experts

There's a five-year lock-in on SGBs and thereafter you may have to sell them at a discount, hence borrow

Credit risk and reward: P2P offers returns but needs cautious investments

Limit your allocation to 5-10% of your fixed-income portfolio and stick to highly-rated borrowers

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How an unpaid loan aided Adani firms to make hostile takeover bid for NDTV

Adani group's acquisition of 34-year-old broadcaster NDTV will help its owner Gautam Adani, the world's fourth-richest man, to join a club of global tycoons in the media business. But behind that acquisition is an unpaid loan that New Delhi Television's (NDTV) founders Prannoy and Radhika Roy had taken from a company linked to rival billionaire Mukesh Ambani in 2009-10. Vishvapradhan Commercial Pvt Ltd had loaned Rs 403.85 crore to NDTV promoter company RRPR Holding Pvt Ltd. Against this interest-free loan, RRPR issued warrants to VCPL entitling it to convert them into a 99.9 per cent stake in RRPR in case it isn't paid-back. VCPL ownership changed hands in 2012. Adani group firm first acquired VCPL from its new owner and exercised the option to convert unpaid debt into a 29.18 per cent stake in the news channel company. Thereafter, it made a Rs 493 crore open offer to buy an additional 26 per cent stake from the public in line with the country's takeover norms. Roys considered ...

Payment aggregators to approach RBI regarding new digital lending rules

Under the new rules, the loans can go directly from regulated entities like banks to the customer accounts. This has eliminated the requirement of payment aggregators in these transactions

Capex loan disbursement to states may rise to Rs 70,000 cr by Q2 end

This is lower than Finance Minister Nirmala Sitharaman's expectation Rs 1 trillion would be released by end of September

Microfinance loans grow 24% YoY in Q1 of FY23; credit quality stable

Fund flow to the sector has improved but some smaller MFIs still find it difficult to access finance from banks

Union Cabinet enhances ECLGS corpus by Rs 50,000 crore to Rs 5 trn

The Union Cabinet on Wednesday approved raising the outlay of the Emergency Credit Line Guarantee Scheme (ECGLS) by Rs 50,000 crore to Rs 5 lakh crore and the additional amount will be earmarked for enterprises in the hospitality and related sectors. In the 2022-23 Union Budget, there was a proposal for raising the limit of ECLGS from Rs 4.5 lakh to Rs 5 lakh crore to help hospitality sector hit by the coronavirus pandemic. The hike in the amount has been made on account of the severe disruptions caused by the pandemic in the hospitality and related sectors, Information and Broadcasting Minister Anurag Singh Thakur said while briefing the media on various decision taken by the Cabinet. He said that loans worth around Rs 3.67 lakh crore have been sanctioned under ECLGS till August 5, 2022.

What is a letter of comfort?

The Reserve Bank of India recently disallowed the use of Letters of Comfort (LoC), which may impact loans worth Rs 35,000 crore. What is this letter of comfort? Let us find out

What is the 'Letter of Comfort' banned by the Reserve Bank of India?

The ban imposed by the RBI may impact loans worth Rs 35,000 crore, impacting power, healthcare, engineering & construction, and road sectors the most