Page 9 - Loans

Open to resolving disputes; won't do one-on-one meetings: Lenders to Byju's

Byju's recently filed a suit against US-based investment mgt firm Redwood to challenge the acceleration of the $1.2-bn term loan B facility, and disqualify the lender for its 'predatory tactics'

Mortgage lender Aviom India raises $30 mn for business expansion

Company runs programme that offers loans to women who don't have formal income documentation

FinEzzy aims to disburse Rs 1,500 cr in loans against mutual funds

Fintech firm FinEzzy aims to disburse Rs 1,500 crore in loans against mutual funds over the next year. This announcement comes as FinEzzy launches its mobile app, introducing a comprehensive personal finance platform, the company statement said. Individual investors can now obtain loans against their mutual fund portfolio, eliminating the need to liquidate their holdings and providing a much-needed alternative to meet their financial requirements, it said. This empowers users to negotiate and secure the most favourable loan terms, creating a transparent and competitive lending environment that puts the power back into the hands of individual investors, it said. The company claimed that the entire loan process is designed to be seamless, fast, reliable and secure. By embracing a fully digital approach, users can complete the loan application process in under 15 minutes, eliminating the hassles of paperwork, it said. FinEzzy utilises one-time-password (OTP) based consents to secure

RBI notifies 4 key measures to strengthen 1,514 urban co-operative banks

Aiming to strengthen 1,514 urban co-operative banks, the Centre on Friday said the Reserve Bank has notified four key measures, including giving them two years more to meet the priority sector lending targets. The Ministry of Cooperation in a statement said that four important initiatives have been taken to strengthen 1,514 Urban Co-operative Banks (UCBs) in the country. "Pursuant to detailed discussions held by Union Home Minister and Minister of Cooperation Amit Shah, with Finance Minister Nirmala Sitharaman and Governor, Reserve Bank of India (RBI), the RBI has notified these vital measures to strengthen Urban Co-operative Banks," it said. The ministry has listed the four measures notified by the RBI. In order to expand their business, UCBs can now open new branches up to 10 per cent (maximum 5 branches) of the number of branches in the previous financial year without prior approval of RBI in their approved area of operation. UCBs have to get the policy approved by their board

Byju's schedules call for lenders to discuss loan amendment proposal

Byju's didn't pay $40 million in interest due Monday on its $1.2 billion loan

Three out of every five Indians prefer opting for car loans: CARS24

CARS24 said that rising costs of vehicles, the desire for newer models with advanced features, and the availability of attractive loan packages are encouraging Indians to go for financing

Byju's accuses lenders of manufacturing fake debt crisis to extort money

The company chalks up its current debt predicament to aggressive distressed-debt investors who, in its view, were never supposed to be able to buy the loan

NBFC loan sanctions up 2% YoY in Q4, rises in investment sector: Report

Growth in sanctions for equipment, commercial vehicles indicates revival of capital investment: Study

Paytm's loan disbursals more than doubled to Rs 9,618 crore in Apr and May

The total number of loans via Paytm was up 54% to 8.5 million during the period, as compared to 5.5 million last year

TMS Ep446: Bank metrics, start-up funding, markets, evergreening of loans

Why is RBI Guv worried despite banks doing well? How can start-ups convince VCs to invest dry powder? Will India Inc see more earnings downgrades in FY24? What is evergreening of loans? Answers here

Edtech major Byju's lenders scrap talks to restructure a $1.2 bn loan

Byju's has to make an interest payment on the loan by June 5

Microfinance loans grow 21.3% YoY to Rs 3.5 trn in FY23, says report

New regulatory norms have helped industry clocking robust demand

Thinking of prepaying your home loan? Things you should keep in mind

If home-owners have received a bonus, they may consider investing it in the capital markets instead of prepaying the loan

Infra lender NaBFID to sanction loan worth Rs 1 trillion this fiscal

MUMBAI (Reuters) - The Indian government-backed National Bank for Financing Infrastructure and Development (NaBFID) expects to sanction close to 1 trillion rupees ($12.23 billion) in loans this financial year, its top executive told Reuters on Tuesday.

Bad loan firms call for rule change to open up sector to new players

The proposed changes would increase the types of entities who trade instruments called Security Receipts, which are backed by non-performing loans

Adani Ports to pay $130 mn of debt early, $413 mn debt tendered for payment

Adani Ports had floated a tender of up to $130 million of 3.375% 2024 maturity dollar-denominated bonds late last month

Spandana Sphoorty's net profit rises 268% to Rs 105 cr in March quarter

The overall assets under management stood at Rs 8,511 crore as of March 31, 2023, against Rs 6,581 crore in the year-ago period

Chase India to set up SRO in light of recent crackdown on Chinese loan apps

Amid the government crackdown on illegal loan apps, research firm Chase India in a report on Tuesday proposed setting up a self-regulatory organisation (SRO) for the digital lending industry. The report on whitelisting framework for digital lending apps (DLAs) intends to support the industry, as it will add legitimacy to the practices and business operations of the DLAs, while simultaneously defining an appropriate regulatory approach in the sector. Chase India has prepared the whitelisting framework with inputs from industry stakeholders. The report also proposed adopting the framework as a standardised code of conduct for DLAs. It details the requirements for the DLAs' legal establishment, business operations, safe handling of technology and data, customer safety and grievance redressal, among others. Chase India suggested the formation of a self-regulatory organisation or dedicating a nodal agency within the regulator's purview for the digital lending industry. The report also

State-run banks likely to launch special drive to recover written-off loans

The government has instructed public sector banks (PSBs) to focus on written-off loans, a senior official said

Higher loan limits to enterprises addressing 'Missing Middle problem': SBI

Increase in Mudra disbursement leads to decline in states' subsidies allocation