FM Nirmala Sitharaman to Meet Heads of Banks, NBFCs on Loan Recast Today
4 years, 3 months ago

FM Nirmala Sitharaman to Meet Heads of Banks, NBFCs on Loan Recast Today

News 18  

Finance Minister Nirmala Sitharaman will hold a review meeting with heads of banks and NBFCs on Thursday for smooth and speedy implementation of the one-time debt recast for resolution of COVID-19 related stress in bank loans. Besides assessing the preparedness of banks on the debt recast, sources said, the meeting will also review the progress of various schemes announced under the Rs 20.97 lakh crore Aatmanirbhar Bharat Abhiyaan. "The review will focus on enabling businesses and households to avail of the revival framework on the basis of viability, necessary steps like finalising bank policies and identifying borrowers, and discussing issues that require addressing for smooth and speedy implementation," the Finance Ministry had said earlier this week. The finance minister will review the implementation of the resolution framework for COVID-19 related stress in bank loans on Thursday with the top management of scheduled commercial banks and non-banking financial companies, it had said.

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History of this topic

India assessing need for more measures to slow unsecured lending, cenbank chief says
6 months, 2 weeks ago

India assessing need for more measures to slow unsecured lending, cenbank chief says

Hindustan Times  

MUMBAI - India's central bank is assessing whether further measures would be needed to slow down the growth in banks' lending towards unsecured loans and non-banking finance companies, Governor Shaktikanta Das said on Friday. India assessing need for more measures to slow unsecured lending, cenbank chief says The Reserve Bank of India, has warned lenders against "all forms of exuberance" …

NCLT Kolkata: Explicit Written Agreement Of Loan Compulsory For NBFC To Establish 'Financial Debt'
1 year ago

NCLT Kolkata: Explicit Written Agreement Of Loan Compulsory For NBFC To Establish 'Financial Debt'

Live Law  

The National Company Law Tribunal, Kolkata Bench, comprising of Smt. Bidisha Banerjee and Shri Arvind Devanathan dismissing a CIRP petition held that an explicit written agreement of loan is compulsory for the Financial Creditor for being a NBFC to demonstrate whether the amount disbursed constituted a 'financial debt' under Insolvency and Bankruptcy Code, 2016. Further, the Corporate Debtor's balance sheet …

NBFCs relying more on bank loans: RBI
1 year, 3 months ago

NBFCs relying more on bank loans: RBI

Live Mint  

Mumbai: Domestic non-banking financial companies, especially those in the upper-layer category, are increasingly relying on bank borrowings as their primary source of funding, according to an analysis in Reserve Bank of India ’s September bulletin. “During the assessment period, NBFCs’ reliance on banks increased steadily due to low interest environment and lag monetary policy transmission," the article said. Direct bank …

FM Nirmala Sitharaman to meet chiefs of PSU Banks on Saturday
1 year, 9 months ago

FM Nirmala Sitharaman to meet chiefs of PSU Banks on Saturday

The Hindu  

Finance minister Niramala Sitharaman will meet managing directors of public sector banks on Saturday to review performance against the backdrop of the failure of a few banks in the U.S. and the liquidity crisis faced by Credit Suisse. The meeting is going to take stock of the progress made by banks in achieving targets set for the various government schemes, …

Indian Banks GNPAs Down To 5% In September 2022, Macroeconomic Conditions Can Impact Banks Health RBI Report
1 year, 11 months ago

Indian Banks GNPAs Down To 5% In September 2022, Macroeconomic Conditions Can Impact Banks Health RBI Report

ABP News  

Gross Non-Performing Assets of Indian banks declined to 5 per cent in september but the present macroeconomic environment can impact lenders' health, said a new Reserve Bank of India report. The report said, “from its peak in 2017-18, the GNPA ratio of SCBs has been declining sequentially to reach 5 per cent at end-September 2022.” It said that the number …

Don't intimidate borrowers, no calling before 8 am & after 7 pm, RBI directs loan recovery agents
2 years, 4 months ago

Don't intimidate borrowers, no calling before 8 am & after 7 pm, RBI directs loan recovery agents

India TV News  

RBI to borrowing agents: The Reserve Bank of India issued a fresh instruction, which directs loan recovery agents not to intimidate borrowers. While issuing additional instructions to regulated entities including banks, NBFCs and ARCs, Reserve Bank said it has observed that recovery agents are deviating from its instructions with regard to the recovery of loans. RBI has issued guidelines from …

FM Nirmala Sitharaman calls for greater capitalization of NDB
3 years, 8 months ago

FM Nirmala Sitharaman calls for greater capitalization of NDB

Live Mint  

Union finance minister Nirmala Sitharaman on Tuesday urged the Brics -led New Development Bank to improve its ratings by international rating agencies through adequate capitalization, quality governance and prudent management. At the sixth annual meeting of the board of governors of NDB held via videoconference, Sitharaman highlighted NDB’s role in countercyclical lending through a $10 billion emergency assistance programme for …

Union Budget 2021: Nirmala Sitharaman should give special focus on financial sector to kickstart economy
3 years, 11 months ago

Union Budget 2021: Nirmala Sitharaman should give special focus on financial sector to kickstart economy

Firstpost  

The pandemic has thrown many traditional fiscal management measures to the wind and challenged the regulators to the hilt. As India looks to recover from the devastating COVID-19 blow, the financial sector, the backbone of the economy that holds it all together, should get special attention. Here are some of the key suggestions which Finance Minister Nirmala Sitharaman could consider …

NBFCs, fintech companies urge FM Nirmala Sitharaman to enhance lending facilities
3 years, 11 months ago

NBFCs, fintech companies urge FM Nirmala Sitharaman to enhance lending facilities

Live Mint  

Non-banking finance companies and fintech players have urged Finance Minister Nirmala Sitharaman to enhance the lending facilities by three to four years which were announced and extended by the Reserve Bank of India during Covid-19 lockdown. This requires great effort for financial inclusion, including increased lending," said Harsh Kumar Bhanwala, Executive Chairman of Capital India. Banks and capital markets play …

Policy roll-back may dent banks’ health, says RBI
3 years, 11 months ago

Policy roll-back may dent banks’ health, says RBI

The Hindu  

In 2020-21, as policy support is rolled back, the impact of the COVID-19 pandemic may dent the health of the banks and non-banks, the Reserve Bank of India said in its Report on Trend and Progress of Banking in India 2019-20. This is a statutory publication in compliance with Section 36 of the Banking Regulation Act, 1949 and this Report …

Non-performing loans in Indian banking sector to rise in next 12-18 months: S&P
4 years, 1 month ago

Non-performing loans in Indian banking sector to rise in next 12-18 months: S&P

The Hindu  

Non-performing loans in the Indian banking sector is likely to witness an uptick and may shoot up to 11% of gross loans in the next 12-18 months, S&P Global Ratings said on Tuesday. It said forbearance is “masking” problem assets for Indian banks arising from COVID-19 and the financial institutions will likely have trouble maintaining momentum after the proportion of …

Non-performing Loans in Indian Banking Sector to Rise in Next 12-18 Months: S&P
4 years, 1 month ago

Non-performing Loans in Indian Banking Sector to Rise in Next 12-18 Months: S&P

News 18  

Non-performing loans in the Indian banking sector is likely to witness an uptick and may shoot up to 11 per cent of gross loans in the next 12-18 months, S&P Global Ratings said on Tuesday. It said forbearance is ”masking” problem assets for Indian banks arising from COVID-19 and the financial institutions will likely have trouble maintaining momentum after the …

RBI announces Co-lending scheme for banks, NBFCs for priority sector
4 years, 1 month ago

RBI announces Co-lending scheme for banks, NBFCs for priority sector

Deccan Chronicle  

Mumbai: In a bid to improve the flow of credit to the unserved sector of the economy and to make funds affordable for them, the Reserve Bank of India on Wednesday revised the guidelines for banks and NBFCs including housing finance companies to jointly lend to the priority sector. The primary focus of the revised scheme, rechristened as “Co-Lending Model”, …

RBI Accepts Recommendation For Separate Treatment of Aviation, Automotive, Roads Sectors
4 years, 2 months ago

RBI Accepts Recommendation For Separate Treatment of Aviation, Automotive, Roads Sectors

News 18  

Citing Kamath Committee recommendations, the Reserve Bank of India has informed the Supreme Court that it has accepted the recommendation for different treatment for sectors namely aviation, automobile manufacturing, roads and wholesale trading. Citing the September 7 special window notification, the RBI insisted that banks have sufficient flexibility to accommodate the impact of Covid-19 while specifying specific ratios for determining …

Debt resolution framework: A balance of relief and rigour
4 years, 3 months ago

Debt resolution framework: A balance of relief and rigour

Live Mint  

The Reserve Bank of India struck a balance between relief and rigour in its resolution framework for covid-related stress issued on 6 August 2020, giving businesses affected by the exogenous shock of covid a necessary reprieve by permitting restructuring without requiring change of control, while also creating strict boundary conditions for such restructuring. The central bank has prescribed five parameters …

RBI loan restructuring plan | A difficult choice for borrowers
4 years, 3 months ago

RBI loan restructuring plan | A difficult choice for borrowers

The Hindu  

The moratorium offered by banks and other institutional lenders ended last month. In this scenario, the Reserve Bank of India has announced a loan restructuring plan to offer relief to impacted borrowers, who may struggle to repay their debt over the short term, at least. Also, unlike the moratorium on term loans that was open for all, only those borrowers …

Loan moratorium: RBI likely to announce one-time loan restructuring guidelines soon
4 years, 3 months ago

Loan moratorium: RBI likely to announce one-time loan restructuring guidelines soon

Live Mint  

The Reserve Bank of India is likely to announce the financial parameters of its proposed loan restructuring scheme soon. In his interview to CNBC Awaaz, RBI Governor Shaktikanta Das said that banks can extend the loan moratorium by 3, 6 or even 12 months under the one-time restructuring. To mitigate the hardships faced by the borrowers during coronavirus pandemic, the …

Govt asks banks to roll out loan restructuring scheme by Sep 15, provide support to borrowers
4 years, 3 months ago

Govt asks banks to roll out loan restructuring scheme by Sep 15, provide support to borrowers

India TV News  

Finance Minister Nirmala Sitharaman on Thursday asked banks and NBFCs to roll out loan restructuring scheme for COVID-19 related stress by September 15, and provide adequate support to the borrowers following the lifting of moratorium on repayment of debts. During the meeting, the minister impressed upon the lenders that as and when the moratorium on loan repayments is lifted, borrowers …

Finance Minister Asks Banks to Roll Out Loan Restructuring Scheme by September 15
4 years, 3 months ago

Finance Minister Asks Banks to Roll Out Loan Restructuring Scheme by September 15

News 18  

Finance Minister Nirmala Sitharaman on Thursday asked banks and NBFCs to roll out loan restructuring scheme for COVID-19 related stress by September 15, and provide adequate support to the borrowers following the lifting of moratorium on repayment of debts. During the meeting, the minister impressed upon the lenders that as and when the moratorium on loan repayments is lifted, borrowers …

Finance Minister Sitharaman to meet heads of banks, NBFCs on loan recast on Thursday
4 years, 3 months ago

Finance Minister Sitharaman to meet heads of banks, NBFCs on loan recast on Thursday

India TV News  

Finance Minister Nirmala Sitharaman will hold a review meeting with heads of banks and NBFCs on Thursday for smooth and speedy implementation of the one-time debt recast for resolution of COVID-19 related stress in bank loans. Besides assessing the preparedness of banks on the debt recast, sources said, the meeting will also review the progress of various schemes announced under …

FM Sitharaman to meet bankers on loan recast on Thursday
4 years, 3 months ago

FM Sitharaman to meet bankers on loan recast on Thursday

The Hindu  

Ahead of the roll out of one-time debt recast for resolution of COVID-19 related stress in bank loans, Finance Minister Nirmala Sitharaman will hold a review meeting with bankers and heads of non-banking financial companies on September 3 for smooth and speedy implementation of the scheme. “The review will focus on enabling businesses and households to avail of the revival …

RBI chief says loan restructuring plan will help revive Indian economy
4 years, 4 months ago

RBI chief says loan restructuring plan will help revive Indian economy

Live Mint  

New measures to allow Indian lenders to restructure loans will provide a “durable” resolution for cash-strapped businesses and help revive the economy, according to the central bank’s chief. “On one hand health of banks is very important and on the other hand businesses are under a lot of stress due to covid,” Reserve Bank of India Governor Shaktikanta Das said …

Finance Ministry Working with RBI on Need for Loan Restructuring, Says FM Nirmala Sitharaman
4 years, 4 months ago

Finance Ministry Working with RBI on Need for Loan Restructuring, Says FM Nirmala Sitharaman

News 18  

Finance Minister Nirmala Sitharaman on Friday said the government is working with the RBI on need for restructuring of loans to help industry tide over the impact of COVID-19. In principle, the idea that there may be a restructuring required, is well taken," Sitharaman said while addressing Ficci's National Executive Committee Meeting. Sitharaman said the Finance Ministry is working with …

NBFCs will continue to face liquidity, asset quality risks: Fitch
4 years, 5 months ago

NBFCs will continue to face liquidity, asset quality risks: Fitch

Live Mint  

MUMBAI: India's non-bank financial companies will continue to face elevated liquidity and asset quality risks, even as economic activity picks up with the easing of the nationwide lockdown, according to global rating agency Fitch Ratings. Non-banks, facing a liquidity shortage ever since Infrastructure Leasing and Financial Services Ltd defaulted on its payment obligations, have been under renewed strain as banks …

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