Wednesday, February 5, 2020, 8:13 AM
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.
Wednesday, January 22, 2020, 10:45 AM
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.
Wednesday, January 22, 2020, 9:58 AM
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.
Monday, November 25, 2019, 8:33 PM
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.
Tuesday, October 22, 2019, 1:13 PM
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.
Thursday, October 3, 2019, 4:22 PM
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.
Monday, September 30, 2019, 8:54 PM
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.
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.
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