The gross NPAs for the quarter ended June 30, 2019, halted the downward trend seen in all the four quarters of 2018-19, and inched up again.
“… for every one customer who wants a loan, please give him, but for every one who you give now, you will bring five newer ones, fresh, somebody who has never taken a loan from a bank,” Sitharaman said.
The binding term sheet has a revised proposal for debt-restructuring, with certain concessions and modification of terms of financial debt.
IIFL Home Finance, a direct subsidiary of IIFL Finance, funds low-cost housing, a focus area for the government that aims to attain “Housing for All by 2022”.
She said banks have identified some NBFCs that they can lend to so that liquidity and credit is made available to those seeking money.
Banks which have been pushing retail credit have built up risks by compromising on underwriting standards.
The issue was discussed when the RBI was looking at external benchmarks for banks, Sources said.
The partners will also offer finance, insurance and warranty products for Volkswagen group customers on Kuwy platform.
Svatantra Microfin has raised its lending rate to 21%, after having reduced it to 19.25% some 17 months ago, to protect margins amid pressure on borrowing costs.
Cox & Kings Financial Service had announced after its board meeting on September 13 that it has decided to surrender its NBFC licence.
Part of Anil Ambani group's plan to prune non-core assets after IL&FS crisis
The industry grew at over 40% in FY2019 with its loan portfolio reaching Rs 178,552 crore at the end of March 2019, according to the Sa-Dhan Bharat Microfinance report 2019.
While IL&FS holds nine per cent, the other two firms hold 40 per cent and 31 per cent stake, respectively in HCPL.
One of the major guidelines in CRL mandates that only three microcredit entities can lend to a client at the same time.
Rating agency regulations must be improved, but we must also realise that "credit market frameworks" are much more than ratings.
Banks are not keen to lend to CG power as govt agencies step up probe into alleged wrongdoings at the firm.
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