RBI should act as lender of last resort, provide liquidity to NBFCs: SBI
In its report on Budget expectations, the economists said RBI should "seriously think" of providing liquidity to NBFCs against the assets held by the lenders. "Given the crisis of confidence in the financial markets, it is imperative that central banks don't forget their primary function of being the lender of the last resort," they said.
PSU banks likely to disburse Rs 25,000 crore more to NBFCs
IndoStar has raised Rs 610 crore under PCG over past one month.
YES Bank rises 4%; lender says efforts being made to strengthen bank
YES Bank has been battling liquidity issues and an accumulation of toxic...
Nicco Corporation's liquidation: NCLT order may revive investor interest
Rajive Kaul and daughter Pallavi Priyadarshini have been Nicco Corp’s nominee directors at Nicco Parks & Resorts. The bankruptcy court’s Kolkata bench in a December 18 order told the two, who were promoters of Nicco Corp, to leave the positions. Pallavi got a stay on the part of the order concerning her.
PhonePe allows to invest in liquid mutual funds
The all-digital product will help users grow their savings by earning higher short-term FD-like returns with the ease and liquidity of a Savings Account, the company said in a press note.
Global stress funds lap up Reliance Capital debt on hopes of repayment
Secondary market discount narrows to 70% from 80% in Nov after Reliance Home Fin’s assurance on repaying retail debenture holders
How global investors traded Reliance Capital bonds at 70% discount amid revival hope
The discount narrowed to 70% in the latest transactions from 80% in trades in November.
Give cash in hand to push demand: FMCG Inc
Industry bats for stimulus measures such as reduction in income tax, job creation and direct incentives for rural consumers. Research firm Nielsen said in an Oct report that overall FMCG sales growth fell from 16.2% yoy in the Sept 2018 quarter to 7.3% in the Sept 2019 quarter, with rural consumption at the slowest in seven years.
Liquidity surges to Rs 4 lakh cr, due to redemption, sluggish credit
The reluctance of local banks to lend has led to flow of foreign funds into the market, with global investors chasing yield in a negative rate environment in developed markets. This has also aided non-banking finance companies develop a new avenue to raise money when the local market shut its doors on them.
UCO Bank plans to disburse Rs 4000 crore in next 45 days
The bank has set a target of Rs 2,700 crore retail loan disbursement under the overall plan and is focusing on home loans, car loans and gold loans to achieve this. The balance Rs 1,300 crore will be lent to micro, small and medium enterprises (MSMEs).
Why India must end Yes Bank’s theater of the absurd
The new management keeps dangling improbable funding options — ranging from an unnamed global technology firm to a Canadian businessman living in a motel — only to strike them off the list of white knights.
Banks likely to put up a good show in Q3; NBFCs may remain a drag
Among banks, corporate lenders will be in the limelight on the back of strong recovery.
Fed focuses on repo market exit strategy after avoiding year-end crunch
The Fed will continue pumping tens of billions a day into the repo market through at least the end of January.
Court allows liquidation of Vijay Mallya's assets
The Prevention of Money Laundering Act (PMLA) court in Mumbai also said the ruling has been stayed till January 18, until which all parties affected by the order could appeal to the Bombay High Court. The seized assets mainly comprise financial securities, such as shares.
Religare Finvest creditors have time till Jan-end to sign pact
Religare Finvest owes lenders a total of Rs 5,800 crore in working capital and term loans.
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