In a letter to shareholders in the mortgage financier's annual report for fiscal 2019-20, Parekh called for easier financing, loan restructuring and also end to end approval and disbursment of mortgage loans.
The lender has been reviewing its international strategy and as part of this, has adopted a clear objective to focus on the Indian banking market and harness the potential there, it said in a regulatory filing.
Rating agency Crisil in a recent report said bank credit growth is likely to nosedive to a multi-decadal low of 0-1 per cent in 2020-21 as economic activity is sharply impacted by the COVID-19 pandemic.
Yes Bank was the latest to be put under moratorium on March 5 after it failed to raise capital in time. Depositors could not withdraw more than Rs 50,000 from their accounts. Also, electronic transactions to and from Yes Bank accounts were frozen, causing some borrowers to miss their monthly payments. Moody's said the new amendments will help depositor confidence.
“Portfolio under moratorium for some large NBFCs is as high as 70- 80%, with the sectoral average of about 52%, while for HFCs the average is about 28% " said A M Karthik, Vice President and Sector Head, Financial Sector Ratings ICRA "The additional covid-19 -related provision carried by NBFCs is about 0.7% (of the AUM), while for HFCs is about 0.2%."
UPI payments had fell to 999.57 million in terms of volume with transactions worth Rs 1.51 lakh crore in April, following the coronavirus-induced lockdown that halted almost all services, except essentials. Online payments slowly gathered pace from May, with staggered opening of the economy.
The post will attract remuneration of up to Rs 3,30,000 a month. The appointment would initially be for three years, and can be extended up to five years, depending on the requirements or till the age of 60 years, whichever is earlier.
Charge filings with the Ministry of Corporate Affairs, compiled by data intelligence provider Propstack, show that ICBC and CDB have not disbursed any large-ticket term loan in India since 2018.
In 1906 famous statistician Francis Galton attended a fair in Plymouth where participants had to guess the weight of an ox and the one who guessed it right, ...
More than four-fifths of the housing finance companies (HFCs) did not approach lenders for this relief. But more than 70% MFIs — and about a quarter of the realty-focused wholesale and retail NBFCs — sought relief, the research showed.
Most banks have not initiated upgrades on cassette swap, e-surveillance and digital locks as their cost analysis of such an overhaul is significantly higher than central bank’s estimates, said people aware of the matter.
The NBFC will also need to have capital adequacy above 15 per cent to become eligible while for HFCs it needs to be over 12 per cent as on March 31, 2019.
Chopra was working as Executive Director (Finance) at Power Finance Corporation (PFC) before assuming charge as Director (Finance), PFC. With over 32 years of experience, she specialises in handling core finance functions such as fund mobilisation, corporate accounts, banking and treasury, asset-liability management and stressed asset resolution.