Page 6 - Loan

Pakistan's foreign reserves continue to decline due to loan repayment

In its weekly bulletin, the SBP said its reserves decreased by $74 million due to external debt repayment

Need quick credit for short tenure? Consider loan against fixed deposit

But if you require additional liquidity for long term, break the FD and borrow against another asset

Google took action against 3,500 loan apps for violating norms in 2022

Google took action against over 3,500 loan apps in India in 2022 for violating Play Store policy requirements, the company said on Thursday. Google said that overall it prevented 1.43 million policy-violating apps from being published on Google Play banning 173,000 bad accounts preventing over USD 2 billion in fraudulent and abusive transactions in 2022. "In India, in 2022, we have reviewed and taken necessary enforcement action, including removal of apps, on more than 3,500 personal loan apps for violations of the Play policy requirements. We continue to uplevel our efforts in this area by regularly updating our policies and review processes," Google said. The company announced that it will adopt a more privacy-friendly approach to advertising in 2023. Google will roll out the first Beta for the Privacy Sandbox on Android to a small percentage of Android devices. "With the Beta, users and developers will be able to experience and evaluate these new solutions in the real world...W

Pakistan struggles to secure loans from global lenders, says report

The fall is attributed to non-renewal of the IMF programme. Because of the delay in finalising the deal with the global lender, Pakistan faced difficulties in obtaining international loan

At 19%, BoB's loans grew faster than overall banking system in FY23

The lender's deposit growth at 15.1% YoY was also higher than the banking average

CLSA upgrades Bajaj Finance as it logs record customer, loan growth in Q4

Loans booked by consumer financier Bajaj Finance jumped 20 per cent YoY to 7.6 million in Q4FY23, taking the total loans booked by the lender in FY23 to 29.6 million, its highest-ever in a year

Reliance, Jio raise $5 bn in largest syndicated loan in India: Report

Reliance Industries Ltd and its telecom arm Jio Infocomm have raised a total of USD 5 billion in back-to-back foreign currency loans, the largest syndicated loan in India's corporate history, sources said. Reliance last week raised USD 3 billion from 55 banks and Reliance Jio Infocomm secured additional credit of USD 2 billion from 18 banks, sources aware of the development said. The USD 3 billion financing closed on March 31 and the add-on facility of USD 2 billion was secured on Tuesday, they said. Reliance will mainly deploy the funds raised towards its capital expenditure, while Jio would put the money to finance its nationwide 5G network rollout. The USD 2 billion add-on will be split equally between Reliance and Jio and is likely to be wrapped up by the end of April, they said. The primary syndication of USD 3 billion involved around 55 lenders, including nearly two dozen Taiwanese banks as well as global giants such as Bank of America, HSBC, MUFG, Citi, SMBC, Mizuho, and Cr

Adani Group joint venture in talks for 1st offshore loan since Hindenburg

AdaniConneX Private Ltd would use this $200 mn loan for capital expenditure, with a five year tenor under discussion

Banks can't withhold loan on flimsy ground

The District Commission concluded that raising a doubt about the validity of the NOC at such a belated stage could not be permitted

NBFC Moneyboxx Finance secures Rs 20 cr term loan from Maanaveeya

NBFC Moneyboxx Finance on Friday said it has secured a Rs 20 crore term loan from Maanaveeya Development & Finance, and the funds will be used for onward lending to micro entrepreneurs. Maanaveeya is an Indian subsidiary of Oikocredit. Moneyboxx is supported by 24 lenders, including SBI, IDFC First Bank, DCB Bank, AU SFB, and has raised cumulative debt of close to Rs 400 crore. With planned equity raise and continuous support from lenders and co-lending partnerships, the company is targeting asset under management (AUM) of Rs 1,000 crore by 2023-24 from current AUM of Rs 290 crore as of February 2023, it said in a release. "The loan from Maanaveeya will help boost our efforts in fostering financial inclusion by addressing the unmet and growing need for credit in the Rs 1-10 lakh small business loan segment," said Deepak Aggarwal, Co-Founder, Moneyboxx. The BSE-listed NBFC focuses on impact financing by providing business loans to micro entrepreneurs in Tier-III cities and below. .

Consent must for fixed to floating loan shift

When the loan agreement was submitted in the revision proceedings, it revealed the interest rate column, which should have mentioned fixed or floating, had been left blank

Adani Group fallout? NBFC loans against shares under RBI scanner

The central bank's Department of Supervision sought this information over the past week, and the deadline for submission of large exposure was on Monday, informed a source

Bank of Baroda to consider all borrower requests, including Adani, on merit

"Irrespective of borrower, you have underwriting standards and you stick to them in good times as well as bad times," Sanjiv Chadha, CEO and MD, at Bank of Baroda

Fibe crosses Rs 10,000 cr in loan disbursals, aims to double AUM every year

Launches upgraded app with conversational user interface as firm turns seven

China approves $700 mn loan to Pakistan: Finance Minister Ishaq Dar

Pakistan's all-weather ally China has approved a loan of USD 700 million to the cash-strapped country, Finance Minister Ishaq Dar announced on Wednesday. The announcement by Dar on the loan by the Board of China Development Bank came a day after Pakistan's National Assembly unanimously passed a money bill aimed at raising tax revenues to fulfil the demands set by the International Monetary Fund (IMF) for seeking a USD 1.1 billion loan facility to avoid an economic meltdown. "Formalities have been completed and the Board of China Development Bank has approved the facility of USD 700 million for Pakistan. This amount is expected to be received this week by the State Bank of Pakistan which will shore up its forex reserves!" Dar tweeted. Pakistan has a chronic balance of payments problem which was exacerbated in the last year, with the country's forex reserves declining to critical levels. As of February 10, the central bank had only USD 3.2 billion in reserves, enough to cover barely

Adani Ports repays Rs 1,500 cr to SBI Mutual Fund, Aditya Birla Sun Life

Adani Ports and Special Economic Zone has repaid Rs 1,500 crore loan and will repay another Rs 1,000 crore in commercial papers due in March. The Adani Group firm paid Rs 1,000 crore to SBI Mutual Fund and Rs 500 crore to Aditya Birla Sun Life Mutual Fund on commercial papers that matured on Monday, as scheduled. "This part prepayment is from the existing cash balance and funds generated from the business operations," a company spokesperson said. "This underscores the confidence which the market has placed on the prudent capital and liquidity management plan for the group." An SBI MF spokesperson said it has no further exposure. "SBI MF had an exposure of around Rs 1,000 crore to Adani Group, which has been repaid on maturity. We have no further exposure to the Adani Group," the spokesperson said.

Moneyboxx cumulative disbursements reach Rs 440 crore till January

Moneyboxx started operations in February 2019 and it currently has 54 branches spread across six states - Rajasthan, Punjab, Haryana, Madhya Pradesh, Chhattisgarh and Uttar Pradesh

Govt set to ban 138 betting apps, 94 loan apps with Chinese links: Report

The communication was issued to Ministry of Electronics and Information Technology (MeitY) by the Union Home Ministry

HDFC Q3 net profit rises 13% to Rs 3,691 crore, impairments decline

Monetary policy, interest rate actions had short-term impact on net interest income, says mortgage major

Securitisation of stressed assets: RBI floats paper on regulatory purview

Securitisation refers to a process that includes the pooling of loans and then selling them to a Special Purpose Entity which then issues securities backed by the loan pool