Mumbai | Kolkata: Non-banking finance companies (NBFCs) sought a higher external commercial borrowing (ECB) limit in their first meeting with Reserve Bank of India (RBI) governor Sanjay Malhotra on Thursday, along with easier asset classification for alternative vehicle financing, freer use of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) … Read more
Spotting a multi-year growth opportunity for affordable housing finance companies, domestic brokerage firm Nirmal Bang has initiated coverage on Home First Finance Company (HFFC) and Aavas Financiers. HFFC gets a ‘buy’ recommendation with a target price of Rs 1,150 while Aavas has a ‘buy’ recommendation with a target price of Rs 1,775. The firm foresees … Read more
Investors may turn cautious when purchasing retail securitised assets of non-banking financial companies (NBFCs) and housing finance companies (HFCs) due to concerns over spread of omicron variant of COVID-19 which could bring back nationwide lockdowns according to ratings firm Icra. Loan collection abilities of NBFCs and HFCs could be impacted. If the Omicron variant disrupts … Read more
Mumbai: The Association of Housing Finance Companies (HFC), the umbrella body for all mortgage lenders, has appealed to the Reserve Bank of India Governor Shaktikanta Das and the National Housing Bank to do away with the stringent asset classification guidelines announced recently. In a two-page letter, HFCs have submitted that the new rules will force … Read more
Then, the Indian auditors point at the concentration risk of a Big Four but the data doesn’t support the argument. Synopsis The spat between the Big Four professional services firms and Indian auditors over the new RBI guidelines for appointments of statutory auditors has turned nasty with both sides accusing each other of serving self … Read more
The maximum amount of guaranteed emergency credit line (GECL) funding under the scheme would also correspondingly increase from Rs 5 crore at present to Rs 10 crore. With a view to provide additional liquidity to crisis-ridden NBFCs and housing finance companies (HFCs), the government on Monday relaxed norms for Partial Credit Guarantee Scheme (PCGS) for … Read more