May 18, 2012 09:57 PM IST
In a bid to futher tighten regulations the Reserve Bank of India (RBI) on Friday asked banks to bring down credit exposure to a single non-banking finance company (NBFC),doing business of gold loans, from existing 10% to 7.5%. The regulator has given maximum six months to implement it.
- Apr 30, 2012 07:44 PM IST
The non-food credit, the amount of loans that banks give to individuals and companies, grew by 17% year-on-year to nearly Rs 42.90 lakh crore for the fortnight ended March 23, 2012. Surprisingly, credit card spending has showed sharp improvement recording nearly a growth of 13% y-o-y as against a de-growth of 10.2% a year ago.
- Apr 02, 2012 03:46 PM IST
The high-powered advisory committee headed by Alok Nigam, joint secretary in the department of financial services has submitted its recommendations on legislative changes for NBFCs, sources told Moneycontrol.com. Some critical issues include Money Lenders Act, Recovery of Debts Due to Banks (RDDB) Act, willful defaulters and Takeover Code.
- Mar 22, 2012 12:01 PM IST
The Reserve Bank of India (RBI) on Wednesday issued a notification directing all non-banking finance companies engaged in gold loan business to maintain a loan to value (LTV) ratio of 60%. Sampath Kumar, senior research analyst of IIFL Institutional Equities says, gold loan companies may see some pullback on the growth side.
- Mar 09, 2012 01:56 PM IST
A high-powered advisory committee headed by Alok Nigam, joint secretary in the department of financial services has recently submitted its recommendations on policy changes for Asset Reconstruction Companies, which have not gained momentum even 10 years on since inception. The RBI and the central government has to now decide on the report.
- Nov 17, 2011 10:10 AM IST
Representatives of non-banking finance companies (NBFCs) have approached the finance ministry seeking modification of two recommendations made by a Reserve Bank of India panel recently, a senior industry official told moneycontrol.com.
- Nov 16, 2011 10:10 AM IST
From the sidelines of the conference, MD and CEO of institutional equities at JM Financial, Sameer Lumba expects the market to be volatile in the near-term. However, he feels that the capital preservation remains very important in the current environment. He also stated that the domestic concerns have priced into the market.
- Sep 23, 2011 02:55 PM IST
The Reserve Bank of India (RBI) on Friday said banks and non banking financial companies (NBFCs) will be eligible to sponsor Infrastructure Debt Funds (IDFs) which can be set up as mutual funds and NBFCs.
- Sep 21, 2011 09:00 PM IST
The Finance Industry Development Council (FIDC), a self-regulatory organization for registered NBFCs-AFCs has elected R. Sridhar, managing director of Shriram Transport Finance Company as its chairman for two years at its meeting held on 20th September 2011 at Mumbai.
- Sep 19, 2011 09:40 PM IST
With a view to attracting long-term investments for the infrastructure sector, the Government has allowed IFCI, LIC, IDFC, IIFCL and certain NBFCs to issue tax-saving bonds during the current fiscal.
- Sep 16, 2011 07:51 PM IST
If you are residing outside India and contemplating of availing a home loan to own your dream home in India, it’s for you. NRI homes loans are prevalent in India and made available with as much ease as to a resident Indian.
- Sep 05, 2011 11:01 AM IST
The new banking license guidelines are in-line with our expectations, said YM Deosthalee, chairman and managing director of L&T Finance Holdings.
- Sep 02, 2011 04:53 PM IST
The competition gets tougher for non-banking finance companies or NBFCs, tapping public money to meet their funds requirement through non-convertible debenture issues.
- Sep 02, 2011 03:00 PM IST
In an interview to CNBC-TV18, Sampath Kumar, analyst at IIFL; Sanjeev Bajaj, managing director of Bajaj Finserv and N Kamakodi, managing director and chief executive officer of City Union Bank discussed their views on the NBFCs as well as the impact of the bank license rules.
- Aug 30, 2011 12:44 PM IST
CNBC-TV18 catches up with one of the authors of the report on NBFCs, Rajiv Lall, managing director and chief executive officer of IDFC, to discuss the environment for efficient functioning of NBFCs here on.
- Aug 29, 2011 03:18 PM IST
The Reserve Bank of India (RBI) on Monday released the Usha Thorat committee report on non-banking finance companies (NBFCs). Usha Thorat, director, Centre for Advanced Financial Research said, NBFC recommendations do not require legal changes.
- Aug 29, 2011 02:40 PM IST
The Reserve Bank of India (RBI) on Monday released the Usha Thorat committee report on non-banking finance companies (NBFCs). Keki Mistry, vice chairman and chief executive officer (CEO), HDFC said, he doesn’t see any impact of this on the company. “We are not NBFC. We are a housing finance company,” he added.
- Aug 29, 2011 02:30 PM IST
Hemant Kanoria, chairman and managing director of SREI Infrastructure Finance, told CNBC-TV18 that new norms will call for a change in recovery practices followed by companies.
- Aug 18, 2011 11:53 AM IST
A series of non-convertible debenture (NCD) issues are again nudging investors’ appetite. Such debt instruments, brought in by non-banking finance companies or NBFCs offer higher rate of interests in the range of 11.10-12.25%. Should you invest?
- Jul 28, 2011 11:23 AM IST
Gold loan provider – Muthoot Finance’s first quarter net profit surged more than two-folds or 125% year-on-year to Rs 190 crore on the back of a robust loan book growth. The mortgage lender’s total gold loan book almost doubled to Rs 17,803 crore compared with Rs 9,040 crore a year ago.
- Jun 24, 2011 03:25 PM IST
Non-banking financial companies (NBFCs) should be allowed to raise funds through external commercial borrowings and foreign currency convertible bonds, which they would lend to infrastructure projects, Assocham today said.
- Jun 22, 2011 03:41 PM IST
The markets have been reacting to fears of pledged shares being sold off upon falling short of the margins allotted by the brokers. Jagannadham Thununguntla, Head of Research, SMC Global joins CNBC-TV18 to discuss the issue.
- Jun 14, 2011 10:28 AM IST
Loan-against-gold firm Manappuram Finance plans to raise Rs 750 crore through its maiden retail non-convertible debenture issue to fund its growth plans. The issue may be launched in July with a tentative coupon size of 11-12%.
- Jun 01, 2011 03:54 PM IST
Investment sentiment is seen decreasing in India, pushed down by the interest rate hikes. This raises questions on the ability of banks to raise their loan books and the overall volume of business of banks, going into future. Srinivasan Varadarajan, ED of Axis Bank and RK Bakshi, ED of Bank of Baroda, join CNBC-TV18 for a tête-à-tête on the topic.
- Mar 30, 2011 12:19 PM IST
in an interview on CNBC-TV18, PTC India's chairman and managing director Tantra Narayan Thakur said that the listing has not been great but it should improve. "The cost of borrowings would come down since it has been awarded a infrastructure finance company status and is authorized to raise external commercial borrowings."