Page 3 - Indian Lenders

NCLAT directs distribution of ITNL entity's lenders, to pay 75% to BKEL

The National Company Law Appellate Tribunal (NCLAT) has ordered an interim payment of 75 per cent of the total amount deposited in an escrow account to lenders of Baleshwar Kharagpur Expressway Limited (BKEL), promoted by IL&FS Transportation Networks Ltd (ITNL). Passing an order over the plea filed by the State Bank of India, NCLAT said it failed to see any reasonable grounds for not taking any decision by the Board for an interim distribution, as per the Concession Agreement and the Escrow Agreement. "Interim distribution shall be made to the lenders of 75 per cent of the amount lying in the escrow account as per the Escrow Agreement," said NCLAT in its order. The balance amount is to be used for operations, maintenance and other payments. However, it added: "Lenders shall also give an undertaking for a refund of the amount received, in the event ultimately, it is found that they were not entitled to the extent of the amount received by them." SBI had requested the NCLAT to ...

Infra lender REC signs renewable energy agreements worth $13.4 billion

REC is targetting to take its renewables loan book to over Rs 3 trillion by 2030, expanding the share of renewables to 30 per cent from 8 per cent currently

Lending takes turn for U: How new credit platform can be a game changer

Moving pieces need to be synchronised for Unified Lending Interface to work

Banks to set up a Unified Recovery Interface to enhance efficiency

IBA mulls special apprenticeship scheme for banking sector

Quant Mutual Fund moves out of HDFC Bank months after betting big

Quant MF has managed to dominate the equity scheme performance charts in recent years, with its high-conviction bets working out well

What's your credit score? Know how its behaviour affects financial health

Higher frequency of credit data reporting is a win-win for credit bureaus, borrowers and lenders

MSME cash flows can be erratic; lenders must know: Flexiloans.com's Jain

We don't set up physical branches, and this allows us to reach more locations compared to the larger banks and NBFCs, he says

CreditAccess Grameen up for sale: Dutch owner seeks $2.7 billion valuation

The Amsterdam-based CreditAccess India B V holds a 66.56% stake in CreditAccessGrameen, and is aiming for a valuation of around $2.7 billion in the potential deal

Swan Energy paid Rs 331 crore to lenders before due date of Dec 23, 2024

SEL had recently received approval from the NCLT-appointed monitoring committee of RNEL to constitute its own board, paving the way for a formal handover of management control

DICGC exceeds global average with month-long depositor payout: Patra

In India, deposit insurance is mandatory for all banks, including foreign banks. As of now, 1,997 banks are covered, which includes 140 commercial banks and 1,857 co-operative banks

Lenders seek better terms to increase green and sustainable financing

According to current norms, for Rs 10,000 crore of loans, banks have to ensure Rs 4,000 crore of priority sector lending target

Micro loans grow 27% in March quarter, stress levels inch up: Report

The micro loans portfolio of various lenders grew by 27 per cent year-on-year for the March 2024 quarter, a report said on Tuesday. After remaining stable or improving over the last many quarters, the stress levels in terms of loan default inched up marginally during the quarter, the report by credit information company Crif High Mark said. At a time when the regulator is flagging concerns on unsecured loans, the data pointed out that personal loan outstandings of microfinance borrowers witnessed the second fastest growth among other retail assets with a portfolio growth of over 38 per cent. The gross loan portfolio grew 28 per cent to Rs 4.42 lakh crore in December, the report said, adding that the growth was 8.5 per cent as compared to the preceding December quarter figure. The top 10 states account for 83.5 per cent of the Gross Loan Portfolio (GLP), it said, adding that West Bengal, Bihar and Uttar Pradesh posted the fastest growth during the January-March period. However, the

Finance Ministry asks SBI to form committee to tackle co-lending issues

Department of financial services holds meeting with major banks and stakeholders

Paytm denies claims on its lending partners invoking loan guarantees

Paytm's non-bank lending partners include companies such as Aditya Birla Finance, Hero Fincorp, Piramal Capital, Poonawalla Fincorp, Shriram Finance, SMFG India Credit, and Tata Capital

Jet Airways resolution plan has become a joke, lenders tell Supreme Court

So far, JKC has managed to get just five aircraft

RBI directs lenders to review loan disbursal, interest related practices

"These are matters of serious concern to the Reserve Bank," it said, asking lenders to take corrective action "including system level changes"

Overseas loans' share in total Adani group debt portfolio declines

Global bond investors keen to invest in Indian infrastructure sector

Lenders form panel to protect bank executives against graft cases

The committee, headed by D C Jain, a former senior officer with the CBI, is expected to suggest ways to protect bank executives from arbitrary actions related to loan decisions

P2P lending; best in spring water brands: Top personal finance stories

This week we explain how to play safe on peer-to-peer platforms; how mineral water assists your health

McLeod Russel India submits fresh plan for debt resolution to lenders

It had earlier offered a one-time payment (OTS) of Rs 1,030 crore to lenders in settling the entire outstanding against the loans including interest