Page 25 - Loans
REC raises $75 mn term loan from Sumitomo Mitsui Banking Corporation
The proceeds from this facility shall be utilised to fund power sector projects as permitted under the external commercial borrowing (ECB) guidelines of the Reserve Bank of India (RBI)
 "REC raises $75 mn term loan from Sumitomo Mitsui Banking Corporation")
Noida international airport plans to raise Rs 3,725 crore in term loans
The estimated project cost of Phase I of the airport is Rs 5,730 crore and is funded in a debt-equity ratio of 65:35
 "Noida international airport plans to raise Rs 3,725 crore in term loans")
Finance companies sell Rs 25,000 cr loans in Q2FY22, up 65% year-on-year
Activity rises as investors' fears over collections ebb
 "Finance companies sell Rs 25,000 cr loans in Q2FY22, up 65% year-on-year")
Industrial loan growth turns negative in 2020-21 due to Covid: RBI data
Industrial loan growth, which has been decelerating during the last decade, turned negative for the first time during 2020-21 as economic activity slowed down in the aftermath of the Covid-19 pandemic
 "Industrial loan growth turns negative in 2020-21 due to Covid: RBI data")
Affordable housing finance cos loan book grows 10% in June: Report
The AHFC industry's reported gross NPA/Stage 3 (excluding data for one player) stood at 2.1 per cent as of June 30, 2021
 "Affordable housing finance cos loan book grows 10% in June: Report")
IDFC First Bank clocks 10% loan growth in Q2 at Rs 117,243 crore
IDFC First Bank on Tuesday said it has posted 9.75 per cent growth in advances at Rs 117,243 crore for the second quarter ended September 30, 2021
 "IDFC First Bank clocks 10% loan growth in Q2 at Rs 117,243 crore")
Portea Medical secures commitment from US-based DFC for $7.7 mn loan
The DFC guarantee will enable a local commercial bank in India to extend the equivalent of a Rs 52 crore loan to Portea
 "Portea Medical secures commitment from US-based DFC for $7.7 mn loan")
Revised norms for securitisation likely to boost volume of loans
The securitisation process involves the conversion of an assets mostly loans, into marketable securities, which are sold to investors to raise cash
 "Revised norms for securitisation likely to boost volume of loans")
RBI announces revised rules for securitisation of standard assets
The Reserve Bank on Friday issued Master Direction on loan transfer, requiring banks and other lending institutions to have a comprehensive board-approved policy for such transactions.
 "RBI announces revised rules for securitisation of standard assets")
Nabard chief stresses on strengthening IT infra of cooperative banks
Strengthening of IT infra of cooperative banks, enhancement of agriculture term loans and diversification of credit portfolio are important factors to make them sustainable on a long term basis
 "Nabard chief stresses on strengthening IT infra of cooperative banks")
Evergrande gave workers a choice: loan us cash or lose your bonus
The Chinese property giant owes $300 billion and is on the hook for 1.6 million apartments. It may owe tens of thousands of its employees money, too
 "Evergrande gave workers a choice: loan us cash or lose your bonus")
Enfinity Global, CarVal Investors sign $300 million loan facility
Renewable energy solutions platform Enfinity Global and CarVal Investors have entered into a $300 million loan facility to fund Enfinity's three gigawatts of renewable energy projects
 "Enfinity Global, CarVal Investors sign $300 million loan facility")
Microfinance loan portfolio rises 4.2% to Rs 2,37,369 cr as of June-end
The microfinance industry's gross loan portfolio (GLP) rose 4.2 per cent to Rs 2,37,369 crore as of June 30, 2021, compared with Rs 2,27,727 crore as of June 30, 2020, according to a MFIN report
 "Microfinance loan portfolio rises 4.2% to Rs 2,37,369 cr as of June-end")
Look-out circulars issued against Rane's wife, son over unpaid loans
Look-out circulars have been issued by authorities against Union minister Narayan Rane's wife Nilam and MLA-son Nitesh in connection with cases related to unpaid loans
 "Look-out circulars issued against Rane's wife, son over unpaid loans")
Equitas SFB expects to recast loans up to Rs 700 crore by December
Total advances restructured under Covid 1.0 and 2.0 stand at just over Rs 1,300 crore, which comprises around 7.5 per cent of gross advances
 "Equitas SFB expects to recast loans up to Rs 700 crore by December")
Exim Bank extends $100 mn loan to Africa Finance Corp for infra development
Exim Bank of India has extended a line of credit of $100 million on behalf of the Indian government to the Africa Finance Corporation (AFC) to develop infrastructure
 "Exim Bank extends $100 mn loan to Africa Finance Corp for infra development")
Conclude loan guarantee scheme for medical infra in non-metros in time: FM
Finance Minister asked all stakeholders to conclude Rs 50,000 cr Loan Guarantee Scheme for Covid-Affected Sectors in time to deal with any future third wave
 "Conclude loan guarantee scheme for medical infra in non-metros in time: FM")
P2P lending is for those with a high risk appetite, say analysts
Limit lending amount and diversify among borrowers
 "P2P lending is for those with a high risk appetite, say analysts")
India power-sector financier REC plans first loan using Libor heir
The financier's choice of a SOFR-linked loan is part of a global push by policy makers to develop new benchmarks to replace Libor by the end of 2021
 "India power-sector financier REC plans first loan using Libor heir")
MFI's gross loan portfolio slips 4% to Rs 214,528 cr till June: Sa-Dhan
The microfinance industry's gross loan portfolio (GLP) marginally declined by around 4 per cent to Rs 214,528 crore as of June 30 this year, against Rs 224,205 crore as of June 20, 2020