Bumper harvests, record sowing, good monsoons, robust farm income and high demand for goods will likely buttress the initiatives to bring the economy back on the rails. Tractor sales are already witnessing revival in rural pockets while other consumption activity has reached over 80% of pre-Covid levels, experts say.
Stuck at home, armed only with a phone and a laptop, financial advisors are finding out just how strong their relationships with clients really are while frustrated juniors are left to crunch numbers in the shadows, deprived of the personal access to the rainmakers who could give their careers a boost.With the dreaded "doughnut" – or zero bonus – almost a given this year, and some banks looking to cut jobs to weather the health crisis, the strains on bankers watching multi-billion dollar pre-pandemic deals go up in smoke is taking its toll.
In a letter to shareholders in the mortgage financier's annual report for fiscal 2019-20, Parekh called for easier financing, loan restructuring and also end to end approval and disbursment of mortgage loans.
“Portfolio under moratorium for some large NBFCs is as high as 70- 80%, with the sectoral average of about 52%, while for HFCs the average is about 28% " said A M Karthik, Vice President and Sector Head, Financial Sector Ratings ICRA "The additional covid-19 -related provision carried by NBFCs is about 0.7% (of the AUM), while for HFCs is about 0.2%."
The post will attract remuneration of up to Rs 3,30,000 a month. The appointment would initially be for three years, and can be extended up to five years, depending on the requirements or till the age of 60 years, whichever is earlier.
Chopra was working as Executive Director (Finance) at Power Finance Corporation (PFC) before assuming charge as Director (Finance), PFC. With over 32 years of experience, she specialises in handling core finance functions such as fund mobilisation, corporate accounts, banking and treasury, asset-liability management and stressed asset resolution.
Villagers, especially those living in the remote rural areas were greatly encumbered to draw cash from the beginning of the lockdown for daily use as there was scarce or no access to banks or ATMs, the company elaborated while addressing the media.
Jyoti serves a wide range of customers within the food services, quick-service restaurants (QSRs), cloud kitchens and cinemas. Set up in 2005, the company has clientele including Subway, Rebel Foods, Cinepolis, Chili's, Holiday Inn among others, across 150 plus cities in 25 states across the country.
The RBI's submissions came in response to a PIL by financial economist Abhijit Mishra who has alleged that Google's mobile payment app, Google Pay or GPay in short, was facilitating financial transactions without the requisite authorisation from RBI.
IMGC guarantees 20% of the loan amount which covers EMIs for nearly two years. Once an account becomes a non-performing asset, the guarantee company pays the EMIs to the lender on the borrower’s behalf. IMGC has 15 lender clients, including ICICI Bank, Axis Bank, LIC Housing Finance, HDFC and SBI.
In April and May the increase in business volumes came more from existing customers taking advantage of higher loan-to-value (LTV) due to a spike in gold prices to increase their borrowings against existing pledges. But absolute footfalls have not increased and acquisition of new customers has not picked up.