Page 2 - Credit

MMRDA secures lines of credit worth Rs 4.07 trillion to develop MMR's infra

MMRDA is the Maharashtra government agency responsible for preparing a regional infrastructure development plan for the MMR

New borrowers face credit squeeze, turn to secured loans and credit cards

A rise in defaults, particularly in small-ticket unsecured personal loans, prompted the Reserve Bank of India (RBI) to tighten lending norms

Retail credit growth moderated for NTC customers in December qtr: Report

Consumption-led products are defined as credit cards, personal loans, and consumer durable loans

Fintech firm CheQ aims to check boxes for every credit need

Founder Aditya Soni is very clear that he is not interested in selling financial products; instead, he is laser-focused on keeping customers' credit healthy

MFI CreditAccess posts Rs 99.5 cr loss in Q3; provision burden rises

The impairment provision for financial instruments rose to Rs 751.9 crore in Q3FY25, up from Rs 126.2 crore in Q3FY24

MakeMyTrip to acquire Happay's expense management platform from CRED

CRED is a members-only app that allows users to make payments and manage credit cards. Happay is an expense management application

IL&FS group discharges debt of Rs 38,082 cr to creditors as of Sep-end

"As on September 30, 2024, the total debt discharged to creditors of the Respondent No 1 (IL&FS) Group aggregates to Rs 38,082 crore," the status report said

IBBI proposes mediation for operational creditors before filing insolvency

The Insolvency and Bankruptcy Board of India (IBBI) has proposed a voluntary mediation mechanism for operational creditors before filing insolvency applications under the IBC norms. The proposal aims to reduce the burden on the Adjudicating Authority (AA), thereby expediting admissions. The recommendation is based on an expert committee report and subsequent suggestions by the Indian Institute of Insolvency Professionals of ICAI (IIIPI). In a discussion paper released on Monday, the insolvency board proposed to introduce mediation as a preliminary step, providing operational creditors an avenue to settle disputes with corporate debtors over matters like contractual disagreements, quality issues, underpayment claims, and set-off demands. The insolvency board noted that in most of the operational creditors-initiated insolvency cases, they are more interested in repayment of money claims rather than admission or resolution of the corporate debtor. According to IBBI, as of April 2024,

BlackRock in talks with Jio Financial to set up private credit venture

The 50-50 joint venture will lend to businesses ranging from large companies to startups, the people said, asking not to be identified as the information is not public

BlackRock chases private credit deals across sectors in record India market

India is a bright spot for private credit in Asia as Prime Minister Narendra Modi's ambitious growth targets and deregulation initiatives spur increased funding needs of local firms

Favourable biz environment drives firms' credit upgrades in H1FY25

Export-intensive segments vulnerable to global risks, warn rating agencies

Banks struggling to mobilise large deposits; C-D ratio rises to 80%: Report

Banks struggled to mobilise large deposits to meet the increasing credit demand in the last two financial years, a report said. Outstanding credit disbursed by Scheduled Commercial Banks (SCBs) was at the highest level in 2023-24 amounting to Rs 1,64,98,006 crore, whereas in percentage terms, the growth of Credit-to-Deposit(C-D) ratio rose from 75.8 per cent to 80.3 per cent, Infomerics Ratings said in a report. According to the RBI April 2024 Bulletin, during March 2024, the incremental Credit-Deposit Ratio(ICDR) remained around 95.94 per cent, whereas on March 8, 2024 this was at 92.95 per cent. It may be observed that there was a much higher growth of credit of the SCBs compared to the growth of deposits, even as per the Quarter-on-Quarter (QoQ) basis, it said. The growth of credit outpaced the growth of deposits during the period FY'19 to FY'24. Alternative investments and substantial cash holdings in the unorganized sector slowed deposit accumulation, particularly in rural ar

SMFG India Credit Company to get up to Rs 2,000 crore capital from parent

Slated to become upper layer NBFC with listing plans

New MSME credit assessment model for PSBs may see March 2025 launch

Credit model goes beyond credit scores, evaluates supply chains, digital footprints

RBI asks banks to monitor credit-deposit gap to avoid liquidity issues

Indian banks' loans rose 13.7% as of July 26 from a year earlier, while deposits grew 10.6%, latest provisional data from the RBI showed

India Inc seeking Rs 5 trillion credit to fund capex: SBI Chairman Khara

State Bank of India Chairman Dinesh Kumar Khara has said there is a growing demand for credit from the corporate sector and loans worth Rs 5 lakh crore are in the pipeline. Unlike the past few years, when the corporates had sufficient cash surplus on their balance sheet, they have started looking for credit to fund working capital requirements and capacity expansion, he told PTI in an interview. "Now we have come to a stage where they (corporates) have started approaching banks for augmenting their capacity or for working capital purposes. Of course, this I can say with confidence because when we look at our unavailed term loan percentage, it has come down from 25 per cent to 18 per cent and when we see the working capital utilisation, even that has improved," he said. So, all these are confirming that private sector opportunities are going to be there and SBI will be in a position to create value for the sector, he said. At the same time, he said, "When we look at our pipeline for

Goldman Sachs aims to double lending to wealthy private bank clients

Goldman's total deposits jumped to $441 billion in the first quarter, with over 39 per cent coming from consumer accounts, versus $190 billion in total deposits at the end of 2019

Insurers to invest more in private credit market: Moody's Ratings report

In a survey this week of the world's largest insurers, Moody's found that nearly 80% of respondents planned to increase their holdings in at least one class of private credit

Aye Finance adopts 'phygital strategy' to revolutionise credit underwriting

Aye Finance's phygital strategy leverages technology to underwrite credit and disburse loans, using business markers to predict sales and categorise underwriting methods

China credit shrinks for first time, decreases by almost $28 billion

Credit contracts as government bonds record net repayment