Page 3 - Nbfc Crisis

Awaiting genuine economic reforms: Why foreign investors are still selling

Policy measures taken to counter the slowdown are not enough

Top 10 biz headlines: Auto sales down 23.5%, direct tax code delay & more

From PV sales declining for the 10th straight month to chances that the govt is unlikely to replace the Income Tax Act with the direct tax code, here are the top business headlines for Tuesday

Confidence crisis at home forcing NBFCs to cough up more for funds overseas

The cash squeeze threatens a broader fallout, as the higher cost of funds is passed on to merchants getting micro loans and property tycoons looking to roll over debt

Govt's mega bank overhaul may hurt NPA clean-up, fight against growth slump

Any more debt repayment delays or defaults risk reversing an expected recovery in India's gross bad loan ratio and worsen a widening shadow bank crisis

Stimulus package not enough to stop auto sector decline: Fitch Solutions

Fitch said the strongest stimulus measure by the govt is its move to increase liquidity in the shadow banking sector, which is the largest contributor to the current contraction in vehicle sales

NBFC funding to commercial sector fell 20% in FY19 after IL&FS crisis: RBI

Credit flow from NBFCs to the commercial credit stood at Rs 9.34 trillion as of FY19, down from a high Rs 11.60 trillion as of FY18, the RBI says in its annual report for 2019

FM's measures should help revive demand in festive season: Bajaj Finance MD

From the perspective of fiscal consolidation, the announcements do not impose significant extra fiscal burden, says Rajeev Jain

Best of BS Opinion: When times are tough and there's no good news in sight

We seem to be regressing in various respects. Sometimes to the extent that seemingly good steps are being viewed with suspicion, says Uddalok Bhattacharya

Fix credit growth to fix the slowdown

The Indian banking crisis has merely meant a lower level of GDP growth than before the onset of the crisis

Number of NBFCs drops to lowest in 10 yrs in India as crackdown accelerates

RBI has also tightened regulations this year by putting in place rules requiring shadow lenders to appoint a chief risk officer and proposing stringent liquidity requirements

DHFL resolution: Banks may convert debt into equity, says Union Bank

DHFL has become the poster-boy of the NBFC crisis that afflicted the financial sector after the infra-lender IL&FS went belly up last September

Top 10 biz headlines: Firms may get tax relief, fresh DHFL default & more

From DTC task force recommending slashing of corporate tax to 25% for domestic and foreign firms to DHFL defaulting on financial repayment obligations, here are the top business headlines for Tuesday

NBFCs continue to hold major share in retail loans despite liquidity crisis

In FY19, NBFCs had a 30% share in outstanding retail loans, while public sector lenders had a 39% share and private banks had 26%

RBI Guv Shaktikanta Das rules out asset quality review of NBFCs for now

Even as he reiterated the regulatory resolve to not let any large NBFC fail, Reserve Bank governor Shaktikanta Das Monday ruled out ordering an asset quality review of the systematically important shadow banks for now. The over 12,000-odd non-banking financial institutions, coupled with their housing finance peers, collectively control a quarter of the credit market, have been under severe stress following the bankruptcy of one of the largest players IL&FS group last September. The IL&FS group owes close to Rs 1 trillion to the system and more than half of that is to banks, mostly state- owned ones. Its failure has made banks highly risk averse to the NBFC sector, leading to a severe liquidity crunch. The group is not only under bankruptcy process now but also under many a probe including by the ED, CBI and the SFIO. Addressing the press on the sidelines of the national banking conference being organised by the industry lobby Ficci, Das ruled out ordering an ...

Listing of Edelweiss' advisory business within 2 years, says Nitin Jain

The NBFC sector is undergoing huge turbulence and policy makers will have to take further steps to tackle the problem, says Nitin Jain

Top 10 biz headlines: Auto crisis worsens, India Inc gets CSR relief & more

From Amazon closing in on buying stake in Future Retail to Japan cautioning Andhra against reworking green power pacts, here are the top ten business headlines on Wednesday

Banks to get two-year guarantee to purchase 'pooled assets' of NBFCs

The government has allowed the NBFCs and HFCs to buy back their assets 'after a specified period of 12 months' as a repurchase transaction, on a right of first refusal basis

Govt must raise expenditure on infra, focus on rural income: Experts

Resolve NBFC crisis, ask banks to transmit MPC's decisions, they say

Indian consumer's pessimism hurdle for RBI bid to reverse economic slowdown

Consumption, which contributes nearly 60% to GDP, has been largely hurt by a shadow banking crisis

NBFCs to receive more liquidity support as RBI raises exposure limit

This has been done to increase the credit flow to certain sectors which contribute significantly to economic growth in terms of export and employment