Mumbai: Edgy over Shapoorji Pallonji (SP) Group’s plans to roll over pledged Tata Sons shares to refinance over $2 billion debt, Tata Trusts has, for the first time, officially said these are non-transferable. The Trusts, which holds a controlling 66% in group holding company Tata Sons, is worried about possible litigation with lenders over enforcing … Read more
Anil Gupta, Sr VP & Co-Group Head-Financial Sector Ratings, ICRA, in conversation with ET Now on RBI proposal for tighter project finance rules. Gupta says “given the market reaction, there could be a case where maybe more clarification will emerge as to whether 5% provision requirement is on the entire under-construction portfolio of the lenders … Read more
Kolkata: The Reserve Bank of India has told banks and other lenders to disclose more information about their climate-related financial risks so that stakeholders — from regulators to customers — can understand and assess the risk early. Climate-related disclosures by regulated entities is an important source of information for different stakeholders — customers, depositors, investors … Read more
Mumbai: Indian lenders are betting big on supply chain finance as companies raise their capacities and are building in bigger buffer stocks than before post the disturbances caused by two black swan events – the Covid-19 pandemic and the Russia-Ukraine war. While ICICI Bank has said it will focus on supply chain finance for future … Read more
Mumbai: Lenders to purified terephthalic acid (PTA) manufacturer JBF Petrochemicals have extended the deadline to submit financial bids for the company till the end of August, giving public sector companies more time to get approvals and make a bid for the company. The original deadline was August 20. Public sector companies and an ONGC-Indian Oil … Read more
Mumbai: Cosy deals that finance companies cut with private equity (PE) houses to palm off risky builder loans and soften the hit on bottom lines are under the lens of financial market regulators questioning a popular fund structure involving ‘senior-junior’ investors. Over the past two years, some of the large non-banking finance companies (NBFCs) have … Read more
Mumbai: For mortgage lenders witnessing strong growth, the Reserve ‘s easing of overseas borrowing limits is of little help as historical restrictions on end use and, more importantly, demand for higher yields by overseas investors make external borrowing unviable for them. The necessity of an investment grade credit rating to tap the overseas market is … Read more
Mumbai: The promoter of Mumbai-listed Hindusthan National Glass (HNG) has proposed ₹1,380 crore in cash and 10% by way of equity to lenders as a settlement in a last-ditch attempt to exit bankruptcy proceedings, two people aware of the development told ET. The company has deposited close to ₹110 crore with lenders to show its … 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
Lenders to the bankrupt Jaypee Infratech are uncomfortable with both bidders offering land instead of cash as part of the resolution plan and have asked for clarity with regards to regulatory and government approvals after a presentation of bids on Monday, people familiar with the bids said. Suraksha Asset Reconstruction Co and government owned India … Read more