Fears over omicron may impact retail securitisation volumes: Icra

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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

HFCs urge RBI to scrap strict asset classification guidelines

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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

Big 4-Indian auditors spat over new RBI guidelines turns ugly

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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

Govt eases credit guarantee scheme norms to ensure more liquidity for stressed NBFCs/HFCs

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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