Page 579 - Finance News

AIIB extends $50 mn loan to L&T Infra Finance for Renewable Energy

This is the first tranche of a $100 mn loan by the Bejing-based multilateral development bank; proceeds will be used to on-lend to large and mid-scale wind and solar power infra projects in India

RBI steps up intervention in forwards, rupee weakens on heavy dollar demand

The central bank is parking these accumulated dollars in the forwards markets, which is improving liquidity for now at the cost of demand of dollar for a future date

PNB says board will consider a proposal to raise capital on July 9

Besides, the board will clear opening balance sheet of the amalgamated bank as on April 1

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

HDFC to set up fund to finance stressed realty projects, to rope in partner

The financial institution will put the money as investment in the proposed fund and will rope in a partner for real estate fund financing of distressed assets in the real estate sector

Inevitability of defaults: Promoters gripe over loans being sold to ARCs

'Once the moratorium is lifted, we expect several companies to default. The bank will have no other option but to either restructure the loan or sell it to ARCs,' says a banker

PNB chief hopeful of RBI allowing one-off loan restructuring by October

Rao also said that the normalcy is still too far which is making it difficult to assess the situation of companies in terms of cash-flows

AUM under moratorium for Bajaj Finance reduces to 15.5% in Q1 of FY21

Firm may need to make additional provisioning due to covid-19 to further strengthen its balance sheet. In Q4FY20, it made provisions of Rs 1,954 crore, of which Rs 900 crore was set aside for covid-re

Canara Bank, Bank of Maharashtra to reduce MCLR by 10, 20 basis points

Overnight and one-month lending rates have been cut by 10 basis points to 7.20 per cent each

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

HDFC Bank lends Rs 10,800 crore in June quarter; advances grow 21%

The Bank's advances expanded by 21 per cent, on year on year basis, to approximately Rs 10,04,500 crore as of June 30, 2020

YES Bank to auction Avantha, RHC Holdings' assets to recover Rs 1,000 cr

The loan amount is due since October 31, 2019, along with further interest and cost due to the secured creditor from the borrower and mortgager

ICICI Bank board to consider proposal to raise capital on Wednesday

ICICI Bank's board will meet on Wednesday to discuss a proposal to raise funds by issuing equity shares to strengthen its financial position.

In pictures: All updates on Income Tax deadlines, exemptions, GST fine

Here are the eight major announcements by the govt in the recent past

Awaiting Form 16 to file ITR? Here's why your wait may be longer this year

Form 16 from the employer is needed to file income-tax returns as it contains details of the salary received by an employee and tax deducted on it

Union Bank revamps Insurance distribution channels post amalgamation

Bank executives said Reliance General Insurance is no longer part of tie-up under new arrangement

NPAs in corporate loans now under control, says SBI's Rajnish Kumar

Kumar said that not many borrowers were keen to take advantage of the scheme due to its cost implications

Axis Bank seeks shareholders nod to raise Rs 50,000 cr via debt, equity

The private sector lender said its annual general meeting (AGM) is to be held on July 31, 2020, and it will seek shareholders' approval for the proposals

$50 million loan spat: YES Bank plans to appeal against Essel order

YES Bank has Rs 8,000-crore exposure to Essel Group

SC questioning RBI on moratorium unfortunate: HDFC chairman Deepak Parekh

In his frank address, Parekh was critical of the Supreme Court for questioning the Reserve Bank of India's (RBI) move to allow banks and housing finance companies (HFC) to charge interest