loans News

SBI launches separate vertical for agriculture, micro credit

SBI launches separate vertical for agriculture, micro credit

New Delhi: In a major restructuring exercise, the State Bank of India (SBI), the largest lender of the country, has created a separate FI&MM vertical within the Bank with an exclusive focus on Financial Inclusion & Micro markets in rural and semi urban areas to improve customer experience in...

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Credit to NBFCs rises in April, retail credit plunges: Report

Credit to NBFCs rises in April, retail credit plunges: Report

New Delhi: Amidst the nationwide lockdown, banks' credit to non-banking finance companies (NBFC) increased by Rs 5,000 crore in April 2020, according to an SBI report.Among the services, credit to NBFCs, transport operators and retail traders increased in April. Credit to retail traders increased by...

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Repayment date for short term agri loans extended to Aug 31

Repayment date for short term agri loans extended to Aug 31

New Delhi: Extending relief to the farmers amid the difficult time of the Covid-19 pandemic, the Union Cabinet on Monday approved the extension of repayment date for short term loans for agriculture and allied activities by banks which have become due or will become due between March 1, 2020 and Aug...

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Extension of loan moratorium credit negative for NBFCs: Moody's

Extension of loan moratorium credit negative for NBFCs: Moody's

New Delhi: The Reserve Bank of India's decision to extend the moratorium on loan repayment by three more months will be credit negative for non-banking finance companies (NBFC), according to a report by Moody's Investors Service.It said that NBFCs manage their liquidity primarily by matching outflow...

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India's banks 'Balance-Sheet Risks Rise' with surging lending pressure: Fitch

India's banks 'Balance-Sheet Risks Rise' with surging lending pressure: Fitch

Mumbai: India's banks are staring at significant asset-quality challenges for at least the next two years despite regulatory measures, Fitch ratings said on Thursday.Accordingly, Fitch estimates that the impact on impaired-loan ratios could be anywhere between 200bp-600bp, depending on the severity ...

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Canara Bank releases emergency credit facilities for MSMEs

Canara Bank releases emergency credit facilities for MSMEs

New Delhi: To meet a temporary liquidity mismatch arising out of the COVID-19 outbreak, Canara Bank has announced a new credit support scheme for borrowers affected by the pandemic.The scheme extends a quick and hassle-free loan to overcome temporary liquidity mismatches for payment of statutory due...

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Our economic package not different from other countries: FM

Our economic package not different from other countries: FM

New Delhi: Finance Minister Nirmala Sitharaman said on Saturday that the economic package announced by the Centre to help revive the economy amid the coronavirus pandemic is not different from that announced by the other countries, but may vary in proportion.In an interaction with BJP national spoke...

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Banks may not extend second moratorium to all customers

Banks may not extend second moratorium to all customers

New Delhi: Banks may not extend second moratorium to all their customers amid gradual resumption in business activity and rising asset quality risk emerging from longer duration loan forbearance.Sources said that banks are evaluating their loan portfolio with regard to customers who availed moratori...

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RBI defers interest payment on working capital loans for 3 months

RBI defers interest payment on working capital loans for 3 months

Mumbai: In a bid to ease the pressure of interest repayment on borrowers, the Reserve Bank of India has deferred the interest repayment on working capital facilities for three months and has allowed the repayment of accrued interests in tranches by March 31, 2021.Announcing a slew of liquidity easin...

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Mitigating Covid woes: RBI cuts lending rates, extends moratorium

Mitigating Covid woes: RBI cuts lending rates, extends moratorium

Mumbai: To mitigate the combined impact of demand compression and supply-side disruption on account of Covid-19 pandemic from depressing economic activity, the Reserve Bank on Friday reduced lending rates and extended the moratorium period for interest payments on term loans.The Monetary Policy Comm...

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