Page 3 - Bank Loans

Perils of the 'push' loan phenomenon and rural India's rising debt burden

Rural households are increasingly depending on borrowed money to meet everyday consumption needs, a practice that is not sustainable in the long run

Private banks' fresh loan rates up 14 bps in September over August

Fresh term deposit rates rise eight bps in Sept; One-yr MCLR flat in October

Tata Neu's lending biz disburses over 1 lakh personal loans worth Rs 1k cr

According to Sushma Abburi, chief business officer, MoneyView, the partnership with Tata Neu enables the company to deliver personalised loan products through its innovative platform

RBI's lending ban cannot be the answer to India's credit excesses

Excesses spike in post-pandemic inflation and an uneven recovery that bypassed working-class families has aggravated the challenge

Mandhana promoter diverted loans for personal benefit: ED charge sheet

Purushottam Mandhana, promoter of Mandhana Industries, used business loans for personal benefit and caused a loss of Rs 975 crore to a Bank of Baroda-led consortium of lenders, the Enforcement Directorate has said in its charge sheet. Observing that there was a prima facie case against Mandhana and others, a special court for Prevention of Money Laundering Act (PMLA) cases here earlier this month directed the accused to remain present in the court on November 21. The charge sheet filed by the ED named 18 persons as accused, including Purushottam Mandhana, his wife Prema and son Priyavrat. Special judge A C Daga took cognizance of the charge sheet on October 1, saying there was a clear, prima facie case under the PMLA. "All accused persons appear to have been involved in this process of money laundering and ultimately tried to make tainted money untainted," the court noted and issued summons to them. The charge sheet said that Palghar-based Mandhana Industries is into manufacturing

HDFC Bank says sequential rise in deposits outpaced loan growth in Q2

Deposits rose 5.1 per cent from the previous quarter to Rs 25 trillion, after no sequential change in April-June

NBFCs turning to alternative funding sources amid slower bank loans

This shift has been spurred by changes in banking regulations, making it more difficult for NBFCs, especially those with lower credit ratings, to secure bank funding

TikTok parent ByteDance eyes $9.5 bn in record Asia dollar corporate loan

ByteDance's facility is larger than the earlier-anticipated size - an indication that the borrower is eager to take advantage of Asia's loan market, which is flush with liquidity amid dismal deal flow

HDFC Bank to sell Rs 10k cr in loan portfolios via pass-through certificate

HDFC Bank will use a rare debt instrument known as pass-through certificates to sell loan portfolios worth up to Rs 10,000 crore ($1.2 billion)

Current account deposits, retail asset quality challenges for new SBI chair

Maintaining loan growth momentum, protecting margins may not be easy as interest rate cycle changes

Ease of lending: How Unified Lending Interface will improve credit access

Seamless delivery of credit and a quicker turnaround time without requiring extensive documentation will benefit both borrowers and lenders

Telecom company MTNL defaults on Rs 422 cr loan payments from various banks

State-owned telecom company MTNL has defaulted on bank loan payments worth Rs 422.05 crore, a regulatory filing said on Monday. The total default amount comprises Rs 328.75 crore default on instalment of principal and Rs 93.3 crore towards interest on debt for June and July. According to the details shared by MTNL, it has defaulted on the payment of Rs 155.76 crore on debt raised from Union Bank of India, Rs 140.37 crore from State Bank of India, Rs 40.33 crore from Bank of India, Rs 40.01 crore from Punjab & Sind Bank, Rs 41.54 crore from Punjab National Bank and Rs 4.04 crore from UCO Bank. The telecom firm earlier raised Rs 5,573.52 crore in debt from these banks. The loss-making telecom firm has total borrowings of Rs 7,873.52 crore from banks and financial institutions, and the total debt of the company stands at Rs 31,944.51 crore. MTNL has sought Rs 1,151.65 crore from the government for payment of interest arising out of sovereign guarantee bonds in the current ...

NARCL offers Rs 360 crore to acquire Delhi-based Agson Global's bad debt

80 per cent haircut for lenders if offer accepted

HDFC Bank mulling loan portfolio sale amid growth scrutiny: Report

Shares of the bank fell the most in a month on Friday after it reported flat sequential deposit performance in the quarter ended June

Banks Q1 loan growth remain strong, share of low cost deposits falls

The credit-to-deposit ratio of the Mumbai-based private sector lender Yes Bank rose to 86.8 per cent at the end of June from 85.5 per cent at the end of March

Banks' loans rise 19.2% in 2 weeks to June 14, deposits up 12.6%: RBI

Outstanding loans fell Rs 716.02 billion ($8.59 billion) to Rs 167.11 trillion in the two weeks to June 14

West Bengal sets target of bank loans worth Rs 1.53 trn for MSMEs in FY25

The West Bengal government has set a target of providing Rs 1.53 lakh crore as bank loans to the MSME sector in the current fiscal, a rise of 5.5 per cent over the year-earlier figure, officials said. In the 2023-24 fiscal, the state's MSME sector received Rs 1.45 lakh crore in bank credit, translating to a growth of 14 per cent. West Bengal is one of the leading states in terms of MSME units, with 21.5 per cent of the country's total such units located in the state. "There are 89 lakh MSME units in West Bengal, generating employment to 1.36 crore people. Of these, 29 lakh units are owned by women entrepreneurs, which is 32.7 per cent of the total units in the state," said Debashis Bandopadhyay, Special Secretary, MSME Department. The state has 589 MSME clusters, with 41.77 per cent of those engaged in manufacturing, 25.47 per cent in trading and 21.5 per cent in other sectors, he said at a Bengal Chamber-organised MSME event. "The amount of bank loans given to MSMEs in the state

Bankers back BPCL Rs 32k cr loan, cautious on Vodafone Idea's Rs 23k loan

Bankers sentiments differ on loans sought by state-backed oil giant BPCL and telecom major Vodafone Idea, which cumulatively amount to Rs 55,000 crore

Vodafone Idea seeks Rs 23,000 crore term loan to boost 4G and 5G rollouts

Telecom major Vi plans to invest Rs 50,000-55,000 crore over the next three years to enhance and strengthen its 4G connectivity and rollout 5G networks in key markets

Microfinance loans up 24.5% to Rs 4.3 trn in FY24, NBFC-MFIs see moderation

The total loan accounts rose to 149 million at the end of March 2024 from 130 million a year ago