Microfinance lenders aim at repayment collection, restoring credit cycle amid rising stress
Microfinance leaders fear extended moratorium may increase stress and derail their robust credit discipline.
Atmadip Ray
Assistant Editor, ETJournalist with two decades of experience. Primary focus is on banking and financial issues. Studied Economics at Delhi School of Economics. Other interest ranges from photography, nature to sports. Started journalism in 2000 with The Financial Express in Mumbai. Joined ET in 2005. Two time recipient of Shriram Awards for Excellence in Financial Journalism. You may follow me at twitter @atmadiprayETStreet vendor loans may come with subvention
The government is considering a 5-7% interest subvention on loans to street vendors to make the targeted ₹5,000-crore financial assistance scheme popular amid apprehensions that organised lenders would baulk at lending to the bottom of the pyramid.
Ujjivan SFB Q4 results: Net profit jumps 14% to Rs 73 crore
Its net interest margin improved at 11.2 per cent against 10.8 per cent over the same period.
NBFCs see opportunities opening up, prepare to give fresh loans in June
Top non-banking finance companies are set to resume sanctioning fresh loans in June with sentiment boosted by the government stimulus and easing of the lockdown, even as they tread cautiously, aware that repayment capacities may have weakened with job losses and income declines.
State borrowings unlikely to cover revenue losses
The collective revenue losses of states are estimated at Rs 6.4 lakh crore, of which only 50% can be compensated through borrowings, leaving a Rs 3.2-lakh-crore gap, according to State Bank of India’s economic research wing.
Gold loans catch the fancy of Indian financial market
Big banks to small players all have started exploring the gold loans' market deeper amid Covid uncertainty.
India has very little space for fiscal stimulus: Ind-Ra
The revenue shortfall is likely to account for 95 per cent of the increased borrowings, leaving a purse of just Rs 20,000 crore for the government to provide fiscal stimulus. "This is too small an amount to make any difference to the sagging economic activities and demand," India Ratings said in a note.
Consumer finance firms may axe 'no-cost EMI', zero down payment plans
Consumer finance firms are tightening terms fearing rising credit risk amid job losses and pay cuts due to Covid-19.
US CDC commits $3.6 mn to assist India's fight against Covid-19
"This initial tranche of funding will seek to further strengthen and support the Government of India’s efforts to increase laboratory capacity for SARS-COV-2 testing, including molecular diagnostics and serology," the US Embassy said in a press statement.
MFIs’ stress levels soar as more borrowers push for moratorium
The bottom of the pyramid borrowers are also in search of fresh dose of loans to resume their businesses.
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