NBFCs raise $3.9 billion capital buffer post Covid-19
NEW DELHI: Non-banking financial companies have raised $3.9 billion through capital raise and asset sales in the post-Covid-19 period. In the midst of a difficult economic environment caused by the Covid-19 pandemic, India Inc has raised a massive Rs 3.46 lakh crore in the ensuring five months between April-August. In the financial sector, several private […]
Real Estate Sector should form their own NBFCs for running business: Nitin Gadkari
NEW DELHI: India’s Road Transport and Highways Nitin Gadkari addressed the queries of the real estate sector and guided them through these challenging times on Wednesday morning. During the discussion the sector urged Govt. of India to address the liquidity issue, one-time rollover, stimulus package from the government to restart the business and boost the […]
RBI Monetary Policy: NBFCs can now on-lend to the priority sector through banks
NEW DELHI: “The fourth straight cut in the benchmark repo rate is a welcome step which will make borrowings cheaper and would help boost in demand in several sectors like real estate and auto which has been sagging since last several quarters,” said Niranjan Hiranandani, President NAREDCO. “It would also help in bringing about some balance between […]
Sikka group raises Rs 130 crore from NBFC to complete Noida housing project
NEW DELHI: Realty firm Sikka group has raised Rs 130 crore from a non-banking finance company (NBFC) to complete its ongoing housing project in Noida, a top company official said on Thursday. NBFCs have been a major source of funding in the last few years for cash-starved real estate firms, which are facing huge demand […]
RBI asks large NBFCs to appoint CROs with fixed tenure
NEW DELHI: The country’s shadow banks with more than Rs 5,000 crore ($714 million) in assets must appoint a chief risk officer (CRO), the Reserve Bank of India (RBI) said, as it tightens regulations after a series of defaults by a single lender last year. “With the increasing role of NBFCs in direct credit intermediation, […]
Imminent crisis in the non-banking financial companies sector
NEW DELHI: There is an “imminent crisis” in the non-banking financial companies (NBFCs) sector as misadventures by some large entities and credit squeeze present a perfect recipe for disaster, a senior government official has said. In recent months, the country’s financial system has been grappling with multiple woes in the wake of the turmoil at […]
Securitisation volumes at all-time high of Rs 1.44 trillion in April to December
NEW DELHI: The securitisation market volumes in the country touched a life-time high of Rs 1.44 trillion in the nine months of the current fiscal, with around Rs 78,000 crore generated in the third quarter, says a report. The securitisation market remained buoyant in the third quarter driven by the prevailing liquidity crisis, following defaults […]
RBI announces more steps to increase credit flow to NBFCs
NEW DELHI: The Reserve Bank of India (RBI) on Friday announced more measures to increase liquidity flows to the non-banking financial companies. The RBI permitted banks to use government securities equal to their incremental outstanding credit to NBFCs, over and above their outstanding credit to them as on October 19, to be used to meet […]
Sensex plummets 464 points on liquidity concerns; RIL, NBFCs drag
NEW DELHI: Market benchmark BSE Sensex plunged by 464 points or 1.33 per cent to close at 34,315.63 points due to losses in index major Reliance Industries, HDFC and Infosys. The broader NSE Nifty too fell over 150 points to crack below the 10,400-mark as financials, IT and energy stocks declined. Sentiments also took a […]