- Tag results for NBFC
DGP Gupteshwar Pandey congratulated the police teams that cracked the case of robbery of gold, which was one of the biggest in the country in recent memory.
While the legal course will be independent to protect stakeholders, the company made the announcement a day after it said a few NBFCs have pledged of the company's listed shares.
According to a Cobrapost expose, Dewan Housing Finance Corporation Limited (DHFL) through layers of shell companies allegedly siphoned off Rs 31,000 crore out of total bank loans of Rs 97,000 crore.
Here are a few recommendations we believe will help the cause of real estate in general and housing demand in particular.
Abhimanyu Munjal, the co-chair of CII National Committee on NBFCs, said the sector would be happy to set up an independent self-regulatory organisation (SRO) nurtured by CII and under the CII’s umbrel
Interestingly, this comes at a time when the investor confidence and lending has become cautious of NBFC sector post defaults by the Infrastructure Leasing & Financial Services Ltd (IL&FS).
How frequently can NBFCs meet RBI so that problems can be fixed before they grow is also an issue to discuss, Iyer said.
The RBI also announced setting up of an eight-member committee headed by former UTI and SEBI chairman UK Sinha to study the issues affecting the MSME sector.
RBI also allowed banks and NBFCs an extension to classify loan accounts of eligible MSME borrowers as NPAs to 180 days, subject to certain conditions.
A bank can give loans to the extent of 15 per cent of its capital fund to a particular non-banking finance company (NBFC) or Housing Finance Company (HFC).
One of the major contributors to the increase in bank credit to the NBFCs could be the NBFC asset purchase the banks announced.
In the last one month, the RBI took several steps to address the liquidity issue.
The RBI, on November 2, permitted banks to provide PCE to bonds issued by systematically important NBFCs and housing finance companies (HFCs), a move aimed to enhance their liquidity position.
Lenders face structural pressure in the area of retail term deposits, with non-bank players offering 33 per cent higher net-of-tax returns for the same gross yield, CLSA said.
While luxury sales have taken a hit, builders in some parts of the country are banking on affordable and premium homes contributing to increased sales.