Page 8 - Loan

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

3 Best No Credit Check Loans and Bad Credit Loans with Guaranteed Approval Online in 2022

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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

Cost-income ratio will come down for IDFC First, says CEO Vaidyanathan

Lender sees growth in new gold loan business and it is scaling up wealth management unit, he says

Talks planned for India to restructure $1.3 bn credit line to Sri Lanka

Standard & Poor's has downgraded Sri Lanka's long-term foreign currency sovereign credit rating to selective default

Control deficiencies in CV loans take a big toll on IndoStar Capital

Provisioning burden pegged at Rs 557-667 crore

IMF says it held 'fruitful' discussions with Sri Lanka on loan request

IMF on Saturday said that it held "fruitful technical discussions" with Sri Lankan authorities on the island nation's request for an IMF-supported loan program this week.

Future Enterprises defaults on Rs 2,911.51 cr loan repayments

Future Enterprise Ltd (FEL) has defaulted on repayment of Rs 2,911.51 crore of loans to its lenders, missing 30 days of review period. The company was required to pay an aggregate amount of Rs 2,911.51 crore between March 23 and March 31, 2022, to various consortium banks and lenders, a regulatory filing said. The Kishore Biyani-led Future group had a review period of 30 days as per the scheme of One Time Restructuring (OTR) for COVID-hit companies with its consortium of banks. "The Company was unable to discharge the above Obligations to Banks / Lenders under the review period of 30 days, as the Company was not able to complete the monetisation of the specified investments as contemplated in OTR Plan (as defined the said Agreement), on Due Dates," said a regulatory filing from FEL. The filing showed that it defaulted on payments on March 31. FEL's total financial Indebtedness of the listed entity including short-term and long-term debt is Rs 6,778.29 crore, the filing added. Ear

SBI raises $500 million through three-year syndicated loan at fine pricing

This is the first offshore Secured Overnight Financing Rate (SOFR)-linked loan by SBI through its IFSC Gift City Branch

HDFC Bank clocks 21% loan growth at Rs 13.69 trillion in FY22

The growth in advances was about 8.6% over Rs 12.60 trillion as of December 31, 2021, the bank informed BSE

Multi-crore Chinese loan app fraud and extortion racket busted, 8 held

In a major operation, Delhi Police have busted a multi-crore Chinese loan Application fraud and extortion racket and arrested eight people from different parts of the country, an official said

ICICI Bank eyes 40% growth in FY22 retail loan disbursement in Gujarat

Going forward, bank's expansion focus is on micro markets like textile hub and diamond market in Surat, ceramic market in Morbi, steel, metal and pharma in Ahmedabad and paper units in Vapi