Page 4 - Credit
Moody's give negative credit outlook to nations on high prices, slow growth
Moody's on Tuesday gave a 'negative outlook' to credit worthiness of countries globally for 2023, saying high prices of food and energy would curb economic growth and raise social tensions. Tighter financial conditions and economic scarring will push some debt burdens to unsustainable levels, while rising borrowing costs will erode debt affordability, according to Moody's. It forecast that as many as 13 nations, including India, would spend over 20 per cent of their government revenue in servicing debt next year. The policy dilemma between servicing creditors and meeting populations' demands for social and economic developments will intensify as governments dedicate a growing share of their revenue to interest payments, it added. "Our outlook for sovereign creditworthiness in 2023 is negative. Although inflation will start declining, prices of food and energy will remain high, curbing economic growth and raising social tensions," Moody's said. Global GDP growth will slow to 1.7 pe
 "Moody's give negative credit outlook to nations on high prices, slow growth")
Credit to industry up 12.6% YoY in September; touches 100-month high
Apart from base effect, credit to industry got a big boost from MSMEs; among sectors, petroleum, gems & jewellery, engineering, iron & steel, and construction were key drivers
 "Credit to industry up 12.6% YoY in September; touches 100-month high")
Scale with proper capital allocation is critical: APAC Financial founder
We have built significant digital and physical infrastructure to cater to the credit needs of MSMEs (micro, small and medium enterprises) in the semi-urban and rural areas
 "Scale with proper capital allocation is critical: APAC Financial founder")
Karur Vysya Bank net profit up 52% at Rs 250 cr in Q2, deposits grow
NPA declines to Rs 2,457 crore, compared to Rs 3,972 crore a year ago
 "Karur Vysya Bank net profit up 52% at Rs 250 cr in Q2, deposits grow")
25% micro credit customers graduated to SMEs since Covid: Bandhan Bank MD
Ghosh says bank is looking to increase branch count to 8,000 nationally from the current 5,640
 "25% micro credit customers graduated to SMEs since Covid: Bandhan Bank MD")
 "Industry's Leading Bad Credit Loans Online: Loans For Bad Credit Approved Within 24 Hours")
Karur Vysya Bank Q1 net doubles to Rs 229 cr, interest income up 17%
Operating profit for up 15% YoY, major improvement seen in bad loans
RBI's credit line norms: Card-based fintech players may have to stop offers
Some of the players expected to take a hit due to the RBI's diktat are Slice, Uni Cards, Jupiter, EarlySalary, etc
 "RBI's credit line norms: Card-based fintech players may have to stop offers")
Credit offtake remains robust in April across sectors, shows RBI data
Loans to medium-sized industries gerew 53.5% this April as compared with 44.8% a year ago
 "Credit offtake remains robust in April across sectors, shows RBI data")
Sri Lanka extends credit line with India by $200 mn for fuel: Power Min
Colombo was also in talks with New Delhi over extending the credit line by an additional $500 million, minister Kanchana Wijesekera told a news conference.
 "Sri Lanka extends credit line with India by $200 mn for fuel: Power Min")
Despite policy efforts, half of Indian adults 'credit unserved': Report
An additional 164 million were classified as 'credit underserved' in the global study done by Transunion Cibil, while only 179 million fit into the 'credit served' category
 "Despite policy efforts, half of Indian adults 'credit unserved': Report")
Despite policy efforts, half of Indian adults 'credit unserved': Report
Around 480 million adult Indians till the age of 65, representing half of the overall population in the earning segment, are 'credit unserved'
 "Despite policy efforts, half of Indian adults 'credit unserved': Report")
India extends additional $500 mn credit line to Sri Lanka for fuel purchase
India has already agreed to defer USD 1.5 billion in import payments that Sri Lanka needs to make to the Asian Clearing Union
 "India extends additional $500 mn credit line to Sri Lanka for fuel purchase")
Banks share in industrial credit plunges to 34% in FY21, says report
The share of non-banks in the commercial credit has more than doubled to 44 per cent while that of foreign banks' rose to 22 per cent in FY21
 "Banks share in industrial credit plunges to 34% in FY21, says report")
Budget 2022: Govt extends ECLGS till Mar 2023; includes hospitality sector
Total guarantee cover expanded to Rs 5 trillion
India's 'Buy Now, Pay Later' segment poised to reach $56 bn by FY26
The segment provides short-term financing to make immediate purchases and the credit can be paid back at a later date
 "India's 'Buy Now, Pay Later' segment poised to reach $56 bn by FY26")
What explains the lure of pay-later cards like Slice and Uni?
New pay-later cards are making their way into people's wallets, who don't even have a credit history. Let us find out why these pay-later cards are catching up and what is luring people towards them
 "What explains the lure of pay-later cards like Slice and Uni?")
IT min asks bankers to create robust platform for easy credit availability
IT Minister Ashwini Vaishnaw exhorted the banking industry to create an innovative digital platform for providing quick and easy credit to MSMEs, small businessmen, and those at the bottom of pyramid.
 "IT min asks bankers to create robust platform for easy credit availability")
Rane launches Credit Linked Capital Subsidy Scheme for services sector
The Minister for Micro, Small and Medium Enterprises (MSME) launched the scheme at Guwahati
 "Rane launches Credit Linked Capital Subsidy Scheme for services sector")
Govt looks to extend street vendor credit scheme during festive push
Is looking to increase limit of working capital loan to Rs 25,000 from Rs 10,000 currently, apart from raising maximum guarantee it provides on loans to 25% from 15%
 "Govt looks to extend street vendor credit scheme during festive push")
