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Debt recast: FIDC suggests dropping additional provisioning for NBFCs

FIDC, a representative body of NBFCs, urged FM Sitharaman to drop additional provisioning requirements for NBFCs on accounts restructured under the one-time loan restructuring scheme

FIDC seeks NBFCs' exemption from restriction on opening of current accounts

The Finance Industry Development Council, an industry body of NBFCs, has urged the Reserve Bank of India to exempt NBFCs from the restriction imposed on opening of current accounts by banks

Manappuram Finance posts 38% jump in Q1 net profit at Rs 368 crore

The non-banking finance company (NBFC) had registered a net profit of Rs 266.78 crore in the same period of the previous fiscal year

Mid-caps worst hit as analysts see 24% dip in Q1FY20 PAT for India Inc

A lockdown to contain the pandemic is now eased, but companies are still struggling to get back on their feet. Puneet Wadhwa explains what to expect from companies in terms of revenue

Banks approve bonds, CPs worth over Rs 14,000 crore issued by NBFCs

About 46 per cent of this sum for purchase by public sector banks is for bonds or CPs rated below 'AA'

Real estate players seek more sops from govt to tide over Covid-19 crisis

Among other aspects, they are pushing to extend the definition of "affordable housing" to homes costing up to Rs 75 lakh as against a maximum of Rs 45 lakh right now

NBFC industry body writes to FM to include individuals under ECLGS scheme

Says more than 75% of customers take loans in their individual names as they do not have any business establishment or partnerships and are compelled to conduct their businesses in individual names

ECLGS: NBFC body seeks addition to list of individuals seeking assistance

FIDC said the assistance to eligible individual borrowers under ECLGS is just limited to loans given under MUDRA scheme

Moratorium to strain NBFC liquidity even further, bad debts to rise

These firms operate with very little short-term liquidity, which can become even more strained as customers start defaulting even after the moratorium

Ind-AS increases provisioning pain for NBFCs amid Covid-19 pandemic

Covid-19 has led to lot of uncertainties including those pertaining to the income level of borrowers and hence, their loan repayment ability, savings habit, cash flow position of corporates

NBFCs' foreign lenders face repayment risks as US dollar becomes stronger

Covid has caused disruption in the domestic and global markets, enhancing the risk of default from the rise in cost of repayments due to upheavals in the currency markets

Financials, AMCs under pressure; Bajaj Finance, HDFC AMC down over 5%

At 10:16 am, the S&P BSE Finance and S&P BSE Bankex were down 2.9 per cent and 2.6 per cent, respectively as compared to a 1.5 per cent decline in the S&P BSE Sensex.

Property developers get a leg up as RBI lists steps helping liquidity

Central bank provides Rs 10,000 crore as refinancing to National Housing Bank (NHB) to support housing finance companies.

Lockdown, moratorium are microfinance institutions' biggest fears

Despite an assuring outlook, large brokerages - whether Kotak Institutional Equities, Axis Capital, Ambit Capital or Credit Suisse - say the MFI sector may be in for a rough ride

Srei Infra seeks one-year blanket moratorium on debt repayment for industry

Srei Infra wants Centre to intervene and ask state govts to clear all dues to contractors, expedite tax refunds, and release payments in arbitration awards

Veterans script a new plot in shadow banking, raise Rs 4,000 cr in equity

It is the biggest ever pool of capital to back professionals in this space even as some of the established players are being put through the wringer

Essel Group's NBFC arm sells Rs 145-crore MSME loan book to Adani Capital

The Essel Finance has a secured loan book of around Rs 145 crore comprising 1,100 customers, employs 40 and present in 10 cities, a statement from Adani Capital said

Credit Saison, Capital Float to provide digital financing to Indian SMEs

The two companies have jointly developed a unique co-origination model through which they will both contribute capital to deliver last-mile credit to MSMEs across the country

Banks staring at 20% more provisioning for Rs 2.2-trillion debt

Bankers said they are looking outside the bankruptcy courts and will be able to resolve a few debts in the power sector before January-end

Shriram Transport to issue second tranche of bonds, raise up to Rs 1,000 cr

The base size of the issue is Rs 200 crore with an option to retain oversubscription aggregating up to Rs 1,000 crore