Page 4 - Lending

HDFC Bank enters into co-lending partnership with CreditWise Capital

Leading private lender HDFC Bank entered into a co-lending partnership with CreditWise Capital (CWC) for extending two-wheeler loans. CWC said in a statement on Friday that by virtue of the co-lending agreement, loans for two-wheelers will be available in Tier 2, 3 and 4 towns of the country. Founder and director of CWC Aalesh Avlani said that the agreement signifies a paradigm shift in the lending landscape. The partnership combines the strength of HDFC Bank's expertise in offering credit facility and CWC's loan processing platform for assessing potential borrowers and also their credit profile. Prashant Patel, executive VP, Capital and commodity markets, HDFC Bank, said "The collaboration with CWC aligns with our vision of expanding the reach and to cater to the evolving needs of our customers".

World Bank mulling local currency lending in countries like India: Official

The World Bank is mulling local currency lending in countries like India to help borrowers save on costs, a senior official said on Friday. "How do we do local currency lending for a country like India is also something we are trying to think of at a price which is advantageous to this country," Anshula Kant, the Managing Director and Chief Financial Officer of the World Bank, said. Speaking at the event on global economy organised by the Ministry of Finance and the Reserve Bank of India (RBI) as part of India's G-20 presidency, Kant said the Indian government has a "huge advantage" in local currency borrowing as compared to the World Bank, even though the Washington DC-based multilateral bank is rated AAA. In some countries like the ones in Africa, which do not possess market infrastructure from where the bank can borrow, the bank may not adopt the local currency lending strategy, Kant said. At the event, Chief Economic Advisor to the Government of India V Anantha Nageswaran said

MDBs' lending resources to face more pressure: FM Nirmala Sitharaman

Sitharaman says G20 under India's presidency to touch upon all aspects of MDB evolution

Microfinance grows by nearly 10 times in 10 years to cross Rs 5 trn mark

Microfinance in India has a long history. Since turn of this century, it has been expanding rapidly as a viable financial services business because of influx of Microfinance NBFCs

China's international lending, developing world's indebtedness rise: Report

It also noted how China has provided a staggering $240 billion in loans to countries in debt distress with a specific jump in lending from 2010

Consumer lending platform Niro raises Series A funding of Rs 90 crore

Niro aims to empower consumer internet platforms to become providers of credit (and other financial) products for their consumers

PhonePe raises another $100 mn to expand into lucrative lending space

With the latest round, PhonePe, India's most valuable payments firm with an estimated value of $12 billion, has raised $650 million across four tranches from its backers, including Tiger Global

US bank lending declines by most on record in final weeks of March

The Fed's report showed that by bank size, lending decreased $23.5 billion at the 25 largest domestically chartered banks in the latest two weeks

Kotak Mahindra Bank to create vertical for mid-market firms

"The bank is also upping its focus on the structured finance offerings, whose contribution in the overall wholesale book is in low single-digits at present and growing the same"

Pace of bank lending to infrastructure shrinks to 2.3%: RBI data

Bankers say private infra offtake slow; much of funding is via public funds

SBI raises $1 billion via syndicated social loan for further lending

The funds will be used to further lend to microfinance institutions and self-help groups, a senior official at SBI, who declined to be named, told Reuters

Fintech players confused after app ban, say clueless about govt's reasons

Industry players and associations rush to MHA and Meity seeking clarity; Google reviewing govt request

SIDBI identifies MFIs to provide enhanced support for micro-lending

Speaking at Business Standard's BFSI Summit, Ramann added that the state-owned small industries lender said that it is once again looking at how to bring capital to micro finance institutions

NBFCs' share in India's lending pie fell to 5-year low of 19.8% in H1FY23

The NBFCs share of the country's lending pie declined to five-year low of 19.8 per cent in the first half of FY23

It's time for evangelising fintech governance

New-age lenders reached out to new segments that were largely overlooked and unaddressed, even as more customers turned to them for their need for niche products and convenience

Rise in Indian corporate lending to locals signals new investment cycle

That international slowdown will limit the strength of the new Indian cycle, economists say.

Select lender that will offer amount needed to buy chosen property

While you should evaluate festive offers, criteria like ease of prepayment are also crucial

India wants ADB to increase equity base to strengthen lending operations

India wants the multilateral funding agency ADB to increase its equity base through another round of general capital increase with a view to strengthening its lending operations. Speaking at the 55th Annual Meeting of ADB, India's Economic Affairs Secretary Ajay Seth said rising commodity prices are endangering food security. "We are meeting in the backdrop of tightening of monetary policies, slowdown of the global economy, supply-chain disruptions, unprecedented inflation and rise in commodities prices endangering food security and livelihoods and the developmental gains made so far," Seth said, the Alternate Governor for the ADB's annual meeting. Fiscal space has now considerably reduced and the surge in public debt has limited the space for additional borrowing and worsened debt vulnerabilities, he said. Increase in private sector operations is the need of the hour to leverage the limited capital of ADB, Seth said developing more affordable and innovative financing solutions wil

Delisting of lending apps will be an ongoing process on Google Play Store

Verification involves manual interventions that can be quite complex

IFC MD Diop meets FM Sitharaman, discusses lending opportunities in India

Finance Minister Nirmala Sitharaman on Monday met International Finance Corporation (IFC) Managing Director Makhtar Diop and discussed increasing lending opportunities in India. IFC is the private sector funding arm of the World Bank. She reiterated India's expectation of a rise in IFC's lending to India to USD 2-2.5 billion in the next 1-2 years and USD 3-3.5 billion in next 3-4 years, the finance ministry said in a series of tweets. "Mr @Diop_IFC shared the sentiment of IFC's expansion into India & stated that IFC would adopt a proactive approach to enhance #investment in India and extend financing to MSMEs to enable capacity building to supplement India's effort to become a manufacturing hub," another tweet said. He further emphasised the potential of looking into sub-national financing for sustainable growth, and mobilise financing for women entrepreneurs.