Page 8 - Loan

Byju's takes Rs 300 crore unsecured loan from Aakash at a rate of 7.5%

Aakash Educational Services was acquired by Think and Learn Pvt, Byju's parent company, in April 2021 for a cash and stock deal worth $950 million

Jhunjhunwala's firm Rare in talks with Barclays to prepay Rs 500 crore loan

The loan was used to fund the acquisition of Zydus Cadila's animal healthcare business in 2021

Ujjivan SFB reports 44 % YoY growth in advances in Q2, loan book expands

Lender reports 45% growth in deposits to Rs 20,389 crore at the end of the quarter

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Loan provisioning in banks: RBI for expected loss-based approach

With low NPAs and high provisions, time ripe for global standards: Bankers

Applying for a digital loan? Stick to loan apps on RBI's white list

The name of the bank or NBFC on whose behalf the app lends should be mentioned on the former's website

Microfinance disbursements slowed in Q1 FY23 after new regulations: MFIN

Lenders needed time to make policy changes after norms were updated in March 2022, says industry group

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Crackdown on illegal loan apps: RBI to make 'whitelist' of legal platforms

MeitY will ensure only authorised apps are hosted on app stores; all ministries to take possible action

Axis Bank ties up with PayNearby, aims to boost priority sector lending

Private lender's portfolio of rural loans was at Rs 58,800 cr at the end of the first quarter this financial year

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MCA tweaks rules about company deposits, enhances statutory auditors' role

The new rules, according to experts, will widen the responsibility of directors to the statutory auditors. They came into effect on August 29

Central Bank inks pacts with Protium Finance, lncred Fin to offer loans

State-owned Central Bank of India has forged co-lending partnerships with Protium Finance and lncred Financial Services to offer loans to MSME borrowers. The partnerships will provide greater expansion of portfolio by the bank and to these players, the bank said on Friday. The state-owned lender said that Protium Finance will originate and process MSME proposals under the priority sector as per jointly formulated credit parameters and eligibility criteria and Central Bank of India will take into its books 80 per cent of the MSME priority sector loans under mutually agreed terms. "Protium Finance Limited will service the loan account throughout the life cycle of the loan. The co-lending arrangement is expected to help both the entities...as well as help expand reach across India," the bank said in a regulatory filing. Protium Finance has a branch network across 11 states and an AUM of 1,671 crore as of July 31, 2022, with a customer franchise at 1,08,447. Likewise, Incred Financial

NTPC floats tender to raise Rs 5,000-cr term loan, bids invited till Aug 31

"We hereby seek participation of Banks/FIs (Financial Institutions) for the subject RFP (Request For Proposal for raising Rs 5,000 crore term loan)," a document said.

Paytm loan distribution touches annual run rate of around Rs 25,000 cr

The number of loans disbursed through Paytm platform jumped close to four-times to 29.46 lakh in July 2022, while the value of loans disbursed soared to Rs 2,090 crore on year-on-year basis.

NARCL interested in taking over loan accounts of debt-ridden Srei: Official

The National Asset Reconstruction Co Ltd (NARCL) has evinced interest in the loan accounts of Srei group companies, which are undergoing corporate insolvency resolution process, a top official of a state-owned bank said. The development comes at the time when the resolution is at an advanced stage, and financial bids are expected to be submitted latest by August 10 for taking over debt-ridden Srei Infrastructure Finance Ltd (SIFL) and Srei Equipment Finance Ltd (SEFL). "We have received preliminary interest from NARCL on taking over the Srei account. We will discuss this at the joint lenders' meeting on August 8," UCO Bank MD & CEO Soma Shankara Prasad said. The total liabilities of Srei stood at around Rs 32,000 crore from all sources, including banks, debentures and external commercial borrowing, officials said. The company has made cash recovery and upgradation of NPA accounts worth nearly Rs 5,000 crore since an RBI-appointed administrator started looking into the affairs of ..

Jubilant Pharma arm to raise $400 mn from Standard Chartered to repay debt

While the term loan and bonds aggregate to USD 350 million, about Rs 2,787 crore, the company is raising another tranche of USD 50 million (about Rs 400 crore) for capital expenditure.

1 in 2 Indians facing extortion, data misuse via instant loan apps: Report

More than one in two Indian consumers who use instant loan apps are facing high interest charges, extortion and data misuse, as RBI takes a tough stand against unregistered digital loan lending apps

$2.3 bn Chinese loan credited to State Bank of Pakistan: Finance minister

Pakistani Finance Minister Miftah Ismail said on Friday that a loan of $2.3 billion from a Chinese consortium of banks had been credited to the central bank's account

R Subramaniakumar: 'Bad loan expert' in the hot seat at crisis-hit RBL Bank

His appointment raises questions because ex-PSB bankers have historically taken over as heads of financial institutions with weak asset quality and governance