Page 17 - Bank Loans
Banks sanction loans of Rs 1.61 trn to MSMEs under credit guarantee scheme
The Finance Ministry on Monday said banks have sanctioned loans of about Rs 161,017 crore under the Rs 3-trn ECLGS for the MSME sector reeling under the slowdown caused by the coronavirus pandemic
 "Banks sanction loans of Rs 1.61 trn to MSMEs under credit guarantee scheme")
Stamp duty going digital is like demat of shares: NeSL MD & CEO S Ramann
NeSL has set up a secured digital document execution (DDE) platform which will facilitate MSMEs and individuals to avail contactless loans on remote basis, says S Ramann
 "Stamp duty going digital is like demat of shares: NeSL MD & CEO S Ramann")
Life after moratorium, for banks and borrowers
There are enough filters in the Covid-19 loan restructuring scheme to prevent misuse, but is it a tool to delay the growth in banks' bad loans? We will know after two years
Banks may restructure loans worth more than Rs 10 trn to 5-6 key sectors
Finance Minister Nirmala Sitharaman last week asked banks and NBFCs to roll out one-time loan restructuring scheme for Covid-19 related stress by September 15
 "Banks may restructure loans worth more than Rs 10 trn to 5-6 key sectors")
Kamath panel to submit recommendations on debt restructuring today
The panel was formed to advise the RBI on the debt restructuring of corporate borrowers facing stress due to the pandemic.
 "Kamath panel to submit recommendations on debt restructuring today")
Start-up loans of up to Rs 50 cr under priority sector as RBI revises norms
Advances to weaker section now 12% of credit for scheduled banks and SFBs, rule doesn't apply to foreign lenders with under 20 branches. RRBs already have to lend 15% to weaker sector
 "Start-up loans of up to Rs 50 cr under priority sector as RBI revises norms")
Loans up to Rs 50 cr for start-ups get priority sector tag in new RBI norms
Lending limit for health infrastructure doubled to Rs 10 crore, says central bank.
Banks turn to digital tools to rework debt payment structures during Covid
According to India Ratings estimates, retail loans - home, personal, auto, and credit cards - amounting to Rs 30,000 crore may come up for recast
 "Banks turn to digital tools to rework debt payment structures during Covid")
FM tells banks to frame loan recast scheme for all viable units by Sept 15
Lenders told to put in place FAQs on recast on their websites in multiple languages
 "FM tells banks to frame loan recast scheme for all viable units by Sept 15")
Don't declare accounts NPA till further orders, says Supreme Court
A three-judge Bench will hear the case next on Thursday
 "Don't declare accounts NPA till further orders, says Supreme Court")
Moratorium case: SC directive to benefit small, mid-sized accounts
Bankers said special mention accounts (SMA)- overdue period between 31 to 60 days (SMA1) and overdue period between 61 to 90 days (SMA2) would have become NPAs in August and September 2020
 "Moratorium case: SC directive to benefit small, mid-sized accounts")
Asking banks to waive interest will adversely impact financial system: Govt
Solicitor General Tushar Mehta told the three-judge Bench that waiving interest or granting a blanket moratorium on repayment of loans will be a "knee jerk reaction"
Most firm that availed loan moratoriums were facing challenges before Covid
Most companies that availed loan moratoriums have sub-investment grade ratings and were facing challenges before the onset of the pandemic itself due to slowing economic growth, CRISIL said
 "Most firm that availed loan moratoriums were facing challenges before Covid")
Don't hide behind RBI, clarify your stand on loan moratorium: SC to govt
A Bench headed by Justice Ashok Bhushan said the government had failed to clear its position on the issue despite the fact that ample powers were available with it under the Disaster Management Act
UP raises bank loans worth Rs 5,900 crore for Bundelkhand Expressway
Expressway is estimated to cost Rs 15,000 cr; the loans have been raised from a consortium of PSU lenders such as Bank of Baroda, Union Bank, Bank of Maharashtra, Indian Bank, Bank of India and Uco
Banks sanction loans of Rs 1.56 trn to MSMEs under credit guarantee scheme
The loan amounts sanctioned by PSBs increased to Rs 76,765 crore, of which Rs 58,230 crore has been disbursed as of August 24, Sitharaman said
 "Banks sanction loans of Rs 1.56 trn to MSMEs under credit guarantee scheme")
Extend loan moratorium period, assistance to lawyers: PIL in Delhi HC
A petition was moved in the Delhi High Court on Monday seeking directions to the Central government and the Reserve Bank of India (RBI) to extend the moratorium period for repayment of term loan
Moratorium, economic downturn raising risks for asset-backed securities
In the case of auto ABS rated by Moody's, 70-100 per cent of the underlying loans (as percentage of the outstanding principal) are on moratorium
 "Moratorium, economic downturn raising risks for asset-backed securities")
How long will it take for RBI's loan-recast plan to see the light of day?
It will take some effort to ensure that the RBI's one-time loan recast scheme works satisfactorily, reports Raghu Mohan
 "How long will it take for RBI's loan-recast plan to see the light of day?")
US regulator SEC probes ICICI Bank for asset classification gaps
Bank says allegations weren't material to financial statements for FY20
 "US regulator SEC probes ICICI Bank for asset classification gaps")
