A good credit score ensures that any loan you apply for gets sanctioned quickly. The score reflects one’s track record in handling credit.
Some of the best-known companies that have lowered loan funds include Gail India (-48%), Piramal Enterprises (-37%), National Fertilizers (-37%), L&T (-24%) Hindalco (-20%) and Jet Airways (-22%).
The numbers simply don’t add up. How can a country growing at 7 percent see its non-food credit grow at around 5 percent?
Indian banks' loans rose 4.4 percent in the two weeks to March 17 from a year earlier, while deposits rose 13 percent, the Reserve Bank of India's weekly statistical supplement showed on Friday.
Sale of stressed assets has fallen sharply in FY17, despite improved recognition by banks. Vinayak Bahuguna, CEO of ARCIL, the country‘s largest asset reconstruction company, in an exclusive interview with Malini Bhupta explains why banks are not willing to sell down their stressed assets and what can be done.
For India's cash-reliant economy, Prime Minister Narendra Modi's decision in November to outlaw old 500 and 1,000 rupee banknotes came as a big shock.
The cancellation of legal tender of 500 and 1,000 rupee notes has led to a slowdown in economic activity that weighed on demand for credit among companies and retail borrowers during the October-December quarter, it said.
Net profit surged more than four times to 2.0 billion pounds (USD 2.5 billion, 2.4 billion euros) in 2016 compared with net profit of 466 million pounds a year earlier, LBG said in an earnings release.
The rise in the borrowings of state governments would exert upward pressure on state development loan (SDL) yields in the financial year 2017-18, Roy said.
IFFCO and Bank of Baroda yesterday signed a Memorandum of Understanding (MoU) in this regard. The pact was signed by Yogendra Kumar, General Manager (Marketing), IFFCO and GB Panda, General Manager (government relationships), Bank of Baroda.
"If providers of PoS infrastructure don't make a reasonable return, that in some ways would inhibit growth of the acceptance infrastructure and that doesn't help the entire effort," its deputy managing director Paresh Sukthankar told reporters.
A report by India Ratings and Research today said in case of a 10 percent rupee depreciation in the financial year 2017-18, the aggregate net leverage of top 100 non-financial foreign exchange borrowers will increase to 5.6x from 5.1x in the financial year 2015-16, while interest coverage will reduce to 2.6x from 2.8x.
Net interest income during the quarter grew by 4.1 percent to Rs 4,333.73 crore compared with Rs 4162.06 crore in year-ago period, with loan growth of 10 percent at Rs 3.47 lakh crore as of December 2016.
The GST Council, at its last meeting, has decided that the provision of arrest will be restricted to forgery and non- deposit of collected taxes with the exchequer within the stipulated timeframe.
IndusInd Bank's results is a wake-up call for all doomsday experts who believed the economy will ground to a standstill
Weak asset quality will continue to plague credit profile of banks, with their profitability remaining under pressure till the next fiscal, says a report.
Banks are the conduit through which the benefits of a high deposit base are likely to accrue. But if banks use it as a toll gate and start charging for every transaction, the economy would go back to its old ways.
To promote cash-less transactions, the government had waived the Merchant Discount Rate (MDR) on fuel purchase post demonetisation for consumers. But after the expiry of the 50-day window, the banks have decided to levy MDR on petrol pump owners.
December liquidity injections were up 13.2 percent from November, according to Reuters' calculations based on central bank data.
At the same time, mobile recharge facility with old Rs 500 notes will not be available. However, people can deposit invalid Rs 500 currency in their bank accounts.
The Finance Ministry issued a notification withdrawing facility of using the now-defunct notes at suburban and metro rail services, railway ticketing counters and ticket counters of government or PSU buses from December 10.
The government has decided to "exempt services by an acquiring bank to any person in relation to settlement of an amount up to Rs 2,000 in a single transaction transacted trough credit, debit card or other payment card service", sources said.
All toll plazas in national highways will receive payments through credit or debit cards and e-wallet henceforth besides accepting old currency notes of Rs 500 till December 15.
The Reserve Bank of India (RBI) hiked the cash reserve ratio (CRR), the percentage of cash deposits that banks have to maintain with RBI â€“ at 100% of the deposits (NDTL) accrued between September 16 and November 11 as incremental cash reserve ratio.