Page 13 - Loans

Byju's schedules call for lenders to discuss loan amendment proposal

Byju's didn't pay $40 million in interest due Monday on its $1.2 billion loan

Three out of every five Indians prefer opting for car loans: CARS24

CARS24 said that rising costs of vehicles, the desire for newer models with advanced features, and the availability of attractive loan packages are encouraging Indians to go for financing

Byju's accuses lenders of manufacturing fake debt crisis to extort money

The company chalks up its current debt predicament to aggressive distressed-debt investors who, in its view, were never supposed to be able to buy the loan

NBFC loan sanctions up 2% YoY in Q4, rises in investment sector: Report

Growth in sanctions for equipment, commercial vehicles indicates revival of capital investment: Study

Paytm's loan disbursals more than doubled to Rs 9,618 crore in Apr and May

The total number of loans via Paytm was up 54% to 8.5 million during the period, as compared to 5.5 million last year

TMS Ep446: Bank metrics, start-up funding, markets, evergreening of loans

Why is RBI Guv worried despite banks doing well? How can start-ups convince VCs to invest dry powder? Will India Inc see more earnings downgrades in FY24? What is evergreening of loans? Answers here

Edtech major Byju's lenders scrap talks to restructure a $1.2 bn loan

Byju's has to make an interest payment on the loan by June 5

Microfinance loans grow 21.3% YoY to Rs 3.5 trn in FY23, says report

New regulatory norms have helped industry clocking robust demand

Thinking of prepaying your home loan? Things you should keep in mind

If home-owners have received a bonus, they may consider investing it in the capital markets instead of prepaying the loan

Infra lender NaBFID to sanction loan worth Rs 1 trillion this fiscal

MUMBAI (Reuters) - The Indian government-backed National Bank for Financing Infrastructure and Development (NaBFID) expects to sanction close to 1 trillion rupees ($12.23 billion) in loans this financial year, its top executive told Reuters on Tuesday.

Bad loan firms call for rule change to open up sector to new players

The proposed changes would increase the types of entities who trade instruments called Security Receipts, which are backed by non-performing loans

Adani Ports to pay $130 mn of debt early, $413 mn debt tendered for payment

Adani Ports had floated a tender of up to $130 million of 3.375% 2024 maturity dollar-denominated bonds late last month

Spandana Sphoorty's net profit rises 268% to Rs 105 cr in March quarter

The overall assets under management stood at Rs 8,511 crore as of March 31, 2023, against Rs 6,581 crore in the year-ago period

Chase India to set up SRO in light of recent crackdown on Chinese loan apps

Amid the government crackdown on illegal loan apps, research firm Chase India in a report on Tuesday proposed setting up a self-regulatory organisation (SRO) for the digital lending industry. The report on whitelisting framework for digital lending apps (DLAs) intends to support the industry, as it will add legitimacy to the practices and business operations of the DLAs, while simultaneously defining an appropriate regulatory approach in the sector. Chase India has prepared the whitelisting framework with inputs from industry stakeholders. The report also proposed adopting the framework as a standardised code of conduct for DLAs. It details the requirements for the DLAs' legal establishment, business operations, safe handling of technology and data, customer safety and grievance redressal, among others. Chase India suggested the formation of a self-regulatory organisation or dedicating a nodal agency within the regulator's purview for the digital lending industry. The report also

State-run banks likely to launch special drive to recover written-off loans

The government has instructed public sector banks (PSBs) to focus on written-off loans, a senior official said

Higher loan limits to enterprises addressing 'Missing Middle problem': SBI

Increase in Mudra disbursement leads to decline in states' subsidies allocation

Vedanta Resources cuts gross debt by $1 bn by paying its maturing loans

Vedanta Resources Limited (Vedanta), the parent company of Mumbai-listed mining giant Vedanta Ltd, on Monday said it has paid all its maturing loans and bonds due in this month to reduce its gross debt by a further USD 1 billion. Vedanta has now reduced debt by a total of USD 3 billion since it announced in February 2022 its intention to accelerate deleveraging. It had announced plans to reduce debt by USD 4 billion within 3 years. "Vedanta has thereby achieved 75 per cent of its committed reduction in just 14 months," the firm said in a statement. The firm's gross debt now stands at USD 6.8 billion, down from USD 7.8 billion at the end of March 2023 and from USD 9.7 billion at the end of March 2022. "During the balance of FY24, we believe that strong operational performance from our world class asset base coupled with robust commodity prices will lead to further deleveraging at Vedanta," the statement said.

Arohan Financial Services opens over 100 branches in underserved states

Arohan Financial Services Ltd has opened 102 new branches in FY'23 to expand its presence in underserved states of the country, the microfinance company said on Friday. The Kolkata-based NBFC-MFI lender now has 835 branches across 15 states offering a range of financial products and services to low-income customers. The new branches were opened in West Bengal, Uttar Pradesh, Uttarakhand, Madhya Pradesh and Rajasthan, with additional operations in Assam, Bihar, Chhattisgarh, Jharkhand, Karnataka, Maharashtra, Meghalaya, Odisha, Telangana and Tripura. Arohan is investing heavily to expand in semi-urban and rural geographies, providing employment opportunities for rural youth and enhancing access to credit for the financially underserved, the company said in a statement. Our endeavour is to include every underserved household and small business under financial services. As we commence on our ambitious five-Year Vision plan of rapid expansion path to serve 20 million lives by 2027, we

Renew Power planning to raise $400 mn in green bonds to refinance old loans

Early this month, Reliance Industries raised $5 billion for its telecom and new energy projects

We expect good demand to continue from realty sector: LIC Hsg Fin chief

In a Q&A, Y Viswanatha Gowd, MD & CEO of the HFC attributes the uptick in demand for home loans to stabilising interest rates and completion of large projects