Top HNI fund managers still made big money in equities in a bad year
Newly formed Marcellus’s Consistent Compounders gave 22.50 per cent in j...
War on bad loans begins to pay for fintech lenders
The tough financial conditions have meant that startups are using technology innovatively to reduce the cost of operations.This year has been stressful for non-banking finance companies (NBFCs), with a liquidity squeeze affecting the broader financial services sector.
Banks may be given incentive to extend loans in backward areas: RBI Dy Guv MK Jain
Speaking at an event organised by the National Bank for Agriculture and Rural Development (NABARD), Jain said despite impressive growth in formal agriculture granted, there are still several challenges which need to be tackled.
Government extends moratorium by 6 months on Rs 15,000 crore soft loan to sugar mills
The Centre had announced the loan package in two tranches -- first in June 2018 amounting to Rs 4,440 crore and the other in March 2019 of Rs 10,540 crore. The objective was to help millers in clearing cane arrears and divert surplus sugar for ethanol manufacturing.
Ruchi Soya acquisition plans on track; loans secured: Patanjali
Refuting reports that Patanjali Ayurved was finding it tough to raise fresh loans of Rs 4,000 crore following a downgrade by a ratings agency, Patanjali Ayurved chief executive Acharya Balkrishna said the downgrade by CARE was based on factors which had no relation to corporate guarantee not being offered by Patanjali.
Q2 loan growth falls to DeMo lows: Credit Suisse
In Q2 loan growth in India has dropped to demonetisation lows of 6% , as NBFC lending has pulled back.
Allahabad Bank loss widens to Rs 2,103 crore in Q2 on higher bad loans
In the preceding June quarter, the bank clocked a profit of Rs 128 crore.
IDBI Bank narrows Q2 loss to Rs 3,459 crore on higher margins, lower NPAs
The gross NPA ratio stood at 29.43, marginally better than 31.78 it had reported in the year-ago period.
Bank of Baroda Q2 profit jumps 73% to Rs 737 crore
Total income rose to Rs 22,097.91 crore for the second quarter of 2019-20.
Need rules for non-disruptive exit in financial sector: Uday Kotak
The comments come at a time when the companies in the sector like DHFL are grappling with resolutions and the future of thousands of crore of debt is in doubt. It also comes at a time when cooperative lender PMC Bank is in troubles allegedly because of mismanagement, putting depositors in a difficulty.
Central relief out of reach for Noida realty projects
Builders collectively owe Rs 28,000 crore to Noida, GNIDA and YEIDA, which is higher than the entire central corpus of Rs 25,000 crore. Of these, Noida has the most housing projects and the highest number of defaulters. Realtors usually have to pay the land cost to the authorities in 16 instalments over eight years at 11% interest rate.
CG Power plans to re-examine accounts of previous three years
CG Power had in August stated that an investigation instituted by its board had found major governance and financial lapses, including some assets being provided as collateral and the money from the loans siphoned off by "identified company personnel, both current and past, including certain non-executive directors."
Are millennials spawning next wave of NPA piles for banks?
The number of millennials, opting for a new loan grew 58% as against a 14% growth in non-millennial segment.
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