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NBFCs' wholesale book under severe stress: Report

Wednesday, February 5, 2020, 8:13 AM

NBFCs' wholesale book under severe stress: Report

Rating agency Crisil on Tuesday warned of potentially high stress in non-banking lenders' wholesale book well above the reported bad loan numbers by March, indicating rising risks to their retail books. It can be noted that almost all the NBFCs have been under severe liquidity stress since the fall of industry major IL&FS in September 2018.
#NPA #NBFC #CRISIL #DHFL #Ilfs #Realty #Government Finances #Verizon Communications #Trade Finance #Banking Finance

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Securitization volume to reach all-time high by end of FY20: Icra

Wednesday, January 22, 2020, 10:45 AM

Securitization volume to reach all-time high by end of FY20: Icra

As non-banking financial companies (NBFCs) and housing finance companies (HFCs) continue to rely heavily on securitization for raising funds owing to the liquidity squeeze, securitization volumes crossed Rs 1.5 lakh crore in December 2019. The securitization volumes are estimated to cross an all-time high of Rs 2 lakh crore by the end of the fiscal year, said rating agency Icra.
#General #NBFC #Inter-Bank Call Rate #Icra

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RBI allows NBFCs to auction gold pooled from multiple branches

Wednesday, January 22, 2020, 9:58 AM

RBI allows NBFCs to auction gold pooled from multiple branches

The RBI allowed non-banking finance companies(NBFCs) engaged in lending against gold to auction gold jewellery pooled from multiple branches in a single district. Earlier, NBFCs were allowed to conduct the auction in the same town or taluka in which the branch that had extended the loan was located. The relaxation in auction rules will be subjected to the condition that the first-auction has failed.
#RBI #Gold #General #NBFC #Non-banking Finance Companies

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NBFC/HFC bankruptcy provisions positive for banks: Moody's

Monday, November 25, 2019, 8:33 PM

NBFC/HFC bankruptcy provisions positive for banks: Moody's

To allow bankruptcy proceedings against non-banking financial companies (NBFCs) is positive for banks as its paves the way for orderly resolution of stressed shadow banks, says a report. The government recently empowered RBI to refer stressed NBFCs and HFCs with assets worth of at least Rs 500 crore to insolvency courts after notifying Section 227 of the Insolvency and Bankruptcy Code.
#Banks #Bankruptcy #NBFC #Business News #Stock Market News #Hfc #Moody39s

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Loan sell-downs help NBFCs, HFCs raise Rs.2.4L crore in one year: Icra

Tuesday, October 22, 2019, 1:13 PM

Loan sell-downs help NBFCs, HFCs raise Rs.2.4L crore in one year: Icra

Sales of loan pools have emerged as a chief source of funds for non-bank lenders. Since the IL&FS crisis in September 2018, non-banking finance companies (NBFCs) and housing finance companies (HFCs) together have raised as much as Rs 2.36 lakh crore through sell-down of their loan assets, according to a note by ratings agency Icra.
#NBFC #Commercial Vehicle Loan #Icra #Finance # #Hfc #Loan #ALM #Banking News #Commercial Vehicle #Asset Liability Management #Sell Down #Non Bank Lender

News

 
PSU banks put Rs 25,000 crore NPAs onsale

Thursday, October 3, 2019, 4:22 PM

PSU banks put Rs 25,000 crore NPAs onsale

Frustrated by delays in the resolution process under the insolvency law, a clutch of state-owned lenders sought to sell bad loans worth Rs 25,000 crore in the three months to September. Lenders have been losing money in cases awaiting a decision in the National Company Law Tribunal (NCLT) or the appellate tribunal or even in the Supreme Court with the process dragging on.
#SBI #NPA #NBFC #NCLT #Essar Steel #Rajnish Kumar #Union Bank Of India #CIRP #Insolvency Law

News

 
Clix Capital raises $40 million from existing investors

Monday, September 30, 2019, 8:54 PM

Clix Capital raises $40 million from existing investors

Clix Capital Services, a digital-lending NBFC, on Monday said it has raised USD million (about Rs 280 crore) from its existing investors, including AION Capital Partners, to fund growth plan. The company is targeting a loan book of Rs 5,500-6,000 crore by the end of the current fiscal as compared to Rs 5,000 crore currently, Clix Capital Services said in a statement.
#Companies #Business #NBFC #Clix Capital Services #AION Capital Partners

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Rs.35000 crore NBFC bond repayment due this month

Friday, September 6, 2019, 12:49 PM

Rs.35000 crore NBFC bond repayment due this month

About Rs.35,000-crore of NBFC bond repayments are due in September, the most in a month since last October, testing the resilience of a sector that has struggled to raise funds since leading infrastructure financier IL&FS defaulted last autumn. Chances of refinancing or rollovers look slim as investors are riskaverse. Multiple NBFCs will have to repay a total of Rs.34,868.77-crore this month, said the source.
#General #NBFC #Nbfc Bonds

News

 
June GDP to print in at 5.7% on demand slump, NBFC mess: Nomura

Tuesday, July 30, 2019, 8:28 PM

June GDP to print in at 5.7% on demand slump, NBFC mess: Nomura

Despite the policymakers' efforts to revive the sagging growth momentum, the economy is set to print in a 5.7% uptick in the June-quarter and is likely to bottom out from there, a brokerage has said. India presents a picture of "short-term despair and medium-term hope", Japanese brokerage Nomura said in a note. The brokerage, however, said the industry and investment indicators are relatively stable.
#RBI #GDP #NBFC #Indian Economy #Nomura

News

 
NBFC's 1,701 licences cancelled in FY19 as RBI cracks the whip

Thursday, July 11, 2019, 8:18 PM

NBFC's 1,701 licences cancelled in FY19 as RBI cracks the whip

The RBI cancelled licences of 1,701 non-banking financial companies (NBFCs) in the year ended 31 March for failing to meet minimum capital requirements, according to data compiled by Mint. As many as 779 licences were cancelled in October and November, just after the crisis in the shadow banking sector unfolded with Infrastructure Leasing and Financial Services Ltd (IL&FS) defaulting on debt repayments.
#RBI #General #NBFC #Non Banking Finance Companies #IL&FS
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