Friday, September 6, 2019, 12:49 PM
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.
Tuesday, July 30, 2019, 8:28 PM
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.
Thursday, July 11, 2019, 8:18 PM
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.
Thursday, July 11, 2019, 6:37 PM
The RBI cancelled licences of 1,701 non-banking financial companies (NBFCs) in 2018-19 for not meeting minimum capital requirements, according to the data. Nearly 779 licences were cancelled in October and November 2018, soon after IL&FS defaulted on debt repayments, sparking a crisis in the sector. RBI had cancelled 26 NBFC licences in 2017-18.
Friday, June 28, 2019, 8:30 AM
In a bid to promote MSME sector, the government Thursday asked banks to appoint a general manager-level official to resolve the problems being faced by micro and medium enterprises which contribute significantly towards employment generation and exports. The MSME sector has been a focus of the Narendra Modi government as it plays a critical role in promoting economic growth.
Wednesday, May 22, 2019, 12:26 PM
The Reserve Bank of India's Central Board met today in Chennai and reviewed current economic situation, global and domestic challenges and various areas of operations of the central bank. With a view to strengthen the supervision and regulation of commercial banks, urban cooperative banks and Non-Banking Financial Companies (NBFCs), the Board decided to create a specialised supervisory and regulatory cadre within the RBI.
Saturday, April 27, 2019, 12:01 PM
In a move to improve customer confidence in NBFC lending routes, the Reserve Bank of India has announced to extend the ambit of Ombudsman scheme for NBFCs to all eligible non-deposit taking NBFCs as well, effective Friday. The scheme which lays down rules for redressal mechanism in cases of customer complaints was earlier applicable only to deposit-taking NBFCs.
Wednesday, March 6, 2019, 7:58 PM
Stating that NDA government, if voted back to power, would consider reducing the corporate tax rate for all firms to 25% provided the GST collections improve, finance minister Arun Jaitley told industry captains to pass on benefits of recent GST cuts to consumers by lowering prices. The minister said that GST is now on the track and is in process of fast settling down.
Saturday, February 23, 2019, 9:03 AM
To provide greater operational flexibility to non-banking lenders, the RBI created a single-category for them by bundling their present three-tier structure. The central bank also decided that exposures to all NBFCs, excluding core investment companies, will be risk weighted as per credit-ratings. Both the decisions were first announced at the last bi-monthly review of the monetary policy in the statement on developmental and regulatory policies.
13 February 2019, Wednesday
What is Gold Loan? Gold loan or loan against gold, is a secured loan in which you pledge gold ornaments as security with a bank or NBFC. ...
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