Microfinancing company Muthoot Microfin has commenced the disbursement of loans through its co-lending arrangement with the State Bank of India (SBI), the largest lender in the country. Under the partnership, the SBI has approved a Rs 500 crore limit, to be distributed in increments of Rs 100 crore. The loans, ranging from Rs 50,000 to … Read more
Provisioning for bad loans by banks fell in the September quarter for the second consecutive period based on year-on-year comparison driven by the public sector banks (PSBs). For a sample of 29 publicly listed banks, provisioning for non performing assets (NPA) fell by 2.9% to Rs 27,318.2 crore. For PSBs, it fell by 11.6% to … Read more
Mortgage lender Can Fin Homes reported a 34% rise in net profit for the second quarter at Rs 212 crore against Rs 158 crore in the year ago period. Source link
In a bid to improve transparency, compliance the lending process further, the Reserve Bank of India (RBI) has reset norms for Non Banking Financial Company-Peer to Peer Lending Platforms (NBFC-P2P Lending Platform). The step has been initiated to take action in light of certain practices conducted by a few Peer-to-Peer (P2P) platforms that have been … Read more
“Banks have written off ₹11.17 lakh crore bad loans from their books in the last six years till financial year 2021-22,” Parliament was informed on December 20. The non-performing assets (NPAs), including those in respect of which full provisioning has been made on completion of four years, are removed from the balance sheet of the … Read more
A news report published in this paper on Wednesday stated, ‘The Reserve Bank of India’s loan restructuring plan would be a success this time as it comes with a specific time frame and there is very little scope for misuse by either corporates or banks, said KV Kamath.Alas. What the veteran banker left unsaid is … Read more