Page 4 - Nbfc Sector

Finance Ministry permits state-owned NBFCs to issue letter of comfort

Modifying its earlier order, the finance ministry has permitted state-owned NBFCs to issue 'Letter of Comfort (LOC)' to banks for for fund tie-up for infra projects. Earlier in March, the finance ministry had asked other ministries and departments not to issue 'Letter of Comfort' to any hired entity for undertaking projects on their behalf, as part of efforts to improve transparency in fiscal management. "In view of the foregoing and considering that the CPSE-NBFCs are important players in the infrastructure sector, it has been decided that CPSE NBFCs may issue LOCs," an office memorandum issued by the finance ministry dated June 10 said. The memorandum posted on the the finance ministry website on Monday laid down certain conditions which include that lender should be a NBFC (Non-Banking Finance Company) registered with RBI. NBFCs should be involved in infrastructure sector and LOCs should be provided by banks only for opening letter of credit for supply of goods and services by .

Seeds Fincap plans to disburse Rs 250 crore in next financial year

The company, which has operations in Uttar Pradesh, Haryana and Rajasthan with 24 branches in Tier 2 and 3 towns, completed disbursement of Rs 50 crore worth loans on Wednesday

NBFC Q2 loan sanctions up 17% YoY, personal loans up 90%: Report

Capex loan sanctions still in negative territory

Shriram Transport Finance aims 10-12% AUM growth in fiscal year 22

Shriram Transport Finance is a non-banking finance company

Consumer, personal loans bolstered fintech lending in FY 2021: Report

SIDBI and Equifax launched the second edition of "Fintech Pulse", a quarterly publication highlighting key trends of NBFC fintech segment

Delinquencies in NBFCs may rise by 50-250 bps in FY21: Crisil

RBI's loan restructuring will soften the blow on reported GNPAs but the underlying challenges will continue

Exempt NBFC sector from new current account opening guidelines: FIDC

The RBI on August 6 revised norms for opening of current accounts by banks, in order to strengthen credit discipline

Credit crisis in India will spur more opportunities for KKR: Brian Dillard

Despite the opportunities, KKR has suffered setbacks in India, where a long-running shadow banking crisis followed by the devastation of the pandemic has crippled the economy

Implement reforms in key areas to reverse slowdown: World Bank to India

The fiscal deficit of the Central government is likely to increase to 6.6 per cent of GDP in FY20/21 and is expected to remain elevated at 5.5 per cent in the following year, says the report

Debt raising brings respite but financial condition is fragile: Economists

Taking advantage of low rates overseas and relatively relaxed norms by the Reserve Bank of India (RBI), Indian companies are lining up to raise resources abroad

RBI policy likely to address the issue of financial stability: Expert

The issue of financial stability in monetary policy has always been an unsettled issue, ever since the global financial crisis

SBI Cap to float special purpose vehicle for NBFC debt purchase, says RBI

The government, on May 21, had said it will support creating a SPV that will buy such papers from NBFCs

Widen MSME scheme ambit: Private lenders to FM Nirmala Sitharaman

Govt likely to issue clarification to add more borrowers under ECLGS

After IL&FS crisis, Covid-19 makes NBFCs struggle despite RBI actions

While bank credit to NBFCs has seen a rise of 30 per cent year on year, credit has mostly flown into larger NBFCs with good parentage and ones with better ALM positions.

Urgent need to standardise rates in hospitals: ICICI Lombard MD & CEO

The reason we need standardisation is because it will smoothen the process for customers as there won't be any dispute with hospitals, says Bhargav Dasgupta, ICICI Lombard MD & CEO

RBI refuses a dozen licences to NBFCs with investments from Mauritius

PE, VC funds domiciled in the island nation on the radar

RBI governor discusses NBFC liquidity, moratorium with bank chiefs

The meetings were also attended by deputy governors and other senior officers of the central bank, RBI said in a statement on its website

Here's why NBFC stocks may turn into a heap of trouble for investors

NBFCs may be forced to dig into their cash reserves if systemic liquidity support dries up

NBFCs stare at 30-70% fall in FY21 earnings due to coronavirus pandemic

According to an Edelweiss report, Rs 1 trillion non-convertible dentures (NCDs) and Rs 1.2 trillion commercial papers (CPs) are due for maturity in May and June

Covid-19 woes: NBFC sector staring at another bout of liquidity challenge

Most banks are yet to decide on giving moratorium to shadow lenders