LOANS
SBI launches digital business loans for small and medium cos
SBI launches SME digital loans programme using data from tax and GST returns for quick credit assessment and loan approval up to ₹50 lakh in 10 seconds without human intervention.
Microlenders’ books up 24.5%, asset quality improves
The microfinance market expanded by a fourth in FY24 with improved asset quality, driven by better loan recovery. Data from the Microfinance Institutions Network (MFIN) shows a 24.5% growth in the gross loan portfolio to ₹4.34 lakh crore.
Loan demand for rural homes, tractors may rise on govt push
"We believe a likely surge in rural credit demand, higher affordability and government push toward financial inclusion with ease of regulations in the microfinance sector. A likely credit-linked subsidy scheme (CLSS) in the Pradhan Mantri Awas Yojana would drive credit growth going forward," ICICI Securities said in a report.
Microfinance market expands by a fourth in FY24 with asset quality showing significant improvement
The microfinance market expanded by a fourth in FY24 with asset quality showing significant improvement. The sector's gross loan portfolio grew 24.5% year-on-year to Rs 4.34 lakh crore at the end of March. The bad loan ratio fell to 7.9% from 8.6% a year back, according to industry data.
Understanding the rate of interest against gold loans in 2024
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Taking a home loan? 5 ways you can reduce cost of borrowing and save money
The longer the tenure of a loan, the higher the interest burden. Home loan rates will not come down as the RBI has kept policy rates unchanged. If you are planning to buy a house with a loan, ET Wealth suggests some ways to reduce the cost of borrowing.
Should you buy a house now or rent it? Key factors that will help you to decide
While property market dynamics play a big role in effecting this decision, equally important is your personal financial situation and lifestage. There are other factors to consider. If you are thinking of buying a house, here the key things you need to check.
Should you buy a house now before property prices soar or wait for home loan interest rates to drop?
A favourable wealth effect, driven by a sharp rise in the equity markets, is enticing many first-time homebuy ers to take the plunge, while affluent buyers are looking for second homes. If you are a fence-sitter, still unsure about when to buy a house, this market presents a big dilemma. Is it the right time to buy a house?
CIBIL or credit score drop can cost you Rs 19 lakh more on a Rs 50 lakh home loan; 4 ways to avoid it
Many social media users are reporting sudden credit score dips. Erroneous transactions, lender misreporting, and late credit card or BNPL payments, over-utilisation of credit limits are some culprits. If you have a poor credit score or CIBIL score, you'll have pay to a few lakhs extra for any big-ticket loan such as a home loan. It pays to be aware of why credit scores drop suddenly and how it can impact your life. ET Wealth Online speaks to various experts to decode how to maintain a healthy credit score or CIBIL score.
Home loan borrowers may have to wait longer for lower EMIs but a rate cut likely this year; how to make the most of it
Home Loan Interest Rates: The Reserve Bank of India (RBI) in its recent Monetary Policy Committee meeting decided to maintain the repo rate at 6.5%, prolonging the wait for home loan borrowers seeking relief from high interest rates and increased EMIs. Despite the current pause in repo rate the possibility of a rate reduction this year is still there.
RBI to come out with norms for securitising stressed loans
RBI is set to release final guidelines for securitisation of stressed assets, potentially initiating a junk bond market in India.
Macro risks might lead to valuation derating for SBI, says JM Financial
JM Financial believes that there could be de-rating of SBI's valuations due to macro risks. In view of recent market volatility, SBI gives the analysts confidence on the back of its strong liability franchise.
SBI board to consider $3-billion fundraise
SBI's board of directors to meet on June 11 to consider raising up to $3 billion through foreign currency bonds issued abroad.
Risk weighting slows unsecured loan growth
The growth of unsecured credit in India, including personal loans and credit card outstanding, slowed to 18% in April from 23% in November 2023. The Reserve Bank of India's risk weighting on such exposures aims to reduce delinquencies in the banking system.
Shriram Finance raises USD 468-mn multi-currency social loan
Shriram Finance Limited raised USD 468 million in multi-currency for business growth through a social loan structured by leading banks, marking the largest syndicated transaction by a private NBFC.
US equity funds hit by outflows on rising yields, rates uncertainty
U.S. equity funds saw outflows for the first time four weeks in the seven days ended May 29, hit by rising bond yields and uncertainty over the timing and extent of Federal Reserve interest rate cuts.
Muthoot Finance shares rally 4% post Q4 results. Should you invest?
Muthoot Finance Share Price: Muthoot Finance shares surged by 4.3% on Friday on the BSE, reaching a day's high of Rs 1,745. This uptick followed the company's announcement of a profit after tax of Rs 1,056 crore, marking a 17% year-on-year (YoY) increase compared to Rs 903 crore reported for the corresponding period last year.
IDFC First Bank to raise Rs 3,200 cr via preferential issue to LIC, others
IDFC First Bank will allot around 39.68 crore shares to some of India's biggest institutional investors, including LIC, HDFC Life, ABSL Insurance, Bajaj Allianz Life, ICICI Lombard, and SBI General Insurance.
Faced with RBI audit, IIFL Finance delays Board meet for earnings release
IIFL Finance extends announcement of quarterly earnings beyond May 30 due to RBI audit, anticipates releasing results by June 30.
RBI's Swaminathan cautions NBFCs on poor data, unsecured loans
"While automation can enhance efficiency and scalability, NBFCs should not allow themselves to be blinded by these models. It is crucial to recognise that rule-based credit engines are only as effective as the data and criteria upon which they are built. Over-reliance on historical data or algorithms may lead to oversights or inaccuracies in credit assessment, particularly in dynamic or evolving market conditions," Swaminathan said.
Improving asset quality, reach to keep Jana SFB on growth path
JSFB provides micro financing, secured business loans, loans against property, micro, small and medium enterprises loans, loans against deposits and gold, and loans to finance companies. The bank strives to reduce reliance on unsecured loans by expanding the portfolio of secured loans. At the end of March 2024, its total loan book was worth Rs 24,746 crore.
PSU banks' profit jumps over 4 times in 3 years to Rs 1.4 lakh crore in FY24
PSU banks' net profit skyrockets to Rs 1.4 lakh crore in FY24, driven by key factors like asset quality improvements, robust margins, and strong loan book growth. SBI emerges as a major contributor, showcasing a remarkable earnings turnaround.
Paying off your home loan vs investing: What's best in a bull market?
Decide between home loan prepayment and equity investments in a bull market by evaluating risk, financial stability, and personal goals. Balance debt reduction with potential returns for a decision aligned with your financial well-being.
TVS Holdings to acquire 80.74% stake in Home Credit India Finance for Rs 554 crore
TVS Holdings Ltd on Friday said it will acquire 80.74 per cent stake in Home Credit India Finance Pvt Ltd for an aggregate consideration Rs 554.06 crore.
Bandhan Bank in talks to raise $250-million debt from IFC
The Kolkata-based lender is now targeting to grow home loan business along with other retail loans while reducing the share of micro loans, which has been a major stress point for it since Covid-19. The bank had a stress pool of Rs 7,500 crore, largely from the microfinance portfolio built through the joint liability group-based lending model.
Muthoot Finance and Manappuram Finance shares tank up to 9% after RBI advisory
Muthoot Finance and Manappuram Finance shares dropped 8-9% on BSE following an RBI advisory on cash disbursal of loans. The RBI instructed NBFCs to comply with the Income Tax Act, limiting cash disbursement to Rs 20,000.
Worries build up over RBI strictures on infra financing
The proposed stricter lending criteria, with additional provisioning, are aimed at preventing accounting shocks but could potentially hurt balance sheets of these entities and exert pressure on their valuation multiples, analysts and economists said.
IOB puts 92 bad loans worth Rs 13,000 crore on the block
The sale is the Chennai-based bank's attempt to explore other avenues for recovery when cases in the National Company Law Tribunal (NCLT) are delayed beyond any timeline, IOB executive director Joydeep Dutta Roy said.
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