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NCLT approves IL&FS stake sale in GIFTCL to Gujarat government

MUMBAI: The National Company Law Tribunal has approved crisis-hit IL&FS to selling its stake in Gujarat International Finance Tec-City Company (GIFTCL) to the Gujarat government. IL&FS has 50 per cent stake in GIFTC. The Gujarat government has agreed to pay a positive equity value of 100 per cent of the IL&FS stake in GIFTCL, by …

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Facing liquidity crunch due to Covid, promoters and businesses will attempt frauds, round tripping and evergreening of loans: PwC report

Unstable cashflows and low reserves, coupled with a restricted ability to seek additional debt or equity financing, can create immense pressure on businesses to divert funds between entities for non-permissible or surreptitious purposes, said the PwC report titled ‘Rethinking Fraud and Economic Crime.’ Source link

Microfinance lenders aim at repayment collection, restoring credit cycle amid rising stress

KOLKATA: Microfinance firms and small finance banks are desperately looking to boost repayment collection to revive cash flow and resume loan disbursement to restore normalcy in credit cycle even as the Reserve Bank of India extended moratorium on payment till August 31 for borrowers under stress. The prime concern expressed by microfinance leaders now is …

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Successful implementation of support measures for NBFI will be key: Fitch

NEW DELHI: Fitch Ratings on Wednesday said support measures announced by the government for non-banking finance companies seek to ease borrower strain and boost funding conditions for NBFIs, but successful implementation will be the key. In a statement Fitch said, NBFIs will continue to face considerable risks to their asset quality and liquidity even as …

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Nine NBFCs surrender certificate of registration

Mumbai: Nine NBFCs, including Reliance Net and Nischaya Finvest Private Limited, have surrendered their certificate of registration, the Reserve Bank of India said on Tuesday. Penrose Mercantiles Ltd, Manohar Finance India Ltd, Chandelier Tracon Pvt Ltd, and Sanghi Hire Purchase Ltd are among the NBFCs which have surrendered their certificates. The certificate of registration is …

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One move at a time by Rahul Singh, CIO-Equities, Tata Mutual Fund

Rahul Singh, CIO Equities, Tata Mutua Fund One move at a me by Rahul Singh, CIO-Equities, Tata Mutual Fund Markets showed some respite in the month of April after a painful March but the current pandemic concerns are far from over. How and by when the Pandemic can be controlled to what could be the …

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Tata Mutual Fund Newsletter: From the CIO’s Desk – May 2020

test-image Dear Readers, Markets showed some respite in the month of April after a painful March but the current pandemic concerns are far from over. How and by when the Pandemic can be controlled to what could be the estimated impact on various economies is more like crystal ball gazing today. In the current edition, …

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NBFC Companies in India

Coronavirus impact: RBI to allow draw-down from reserves for provisioning

Non-Banking Financial Companies in India Non-banking money related organizations (NBFCs) on Friday mentioned the Reserve Bank of India (RBI) to permit them to draw-down from their stores for making extra arrangement for expected misfortunes due to COVID-19 pandemic. NBFCs suitable professional Statutory and Other Reserves and use of these stores is administered by the rule …

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Coron Impact on loans in India

By default: Coronavirus threatens to derail retail boom for Indian lenders

Coronavirus Impacts on Finance Sector in India Indian moneylenders are confronting a bounce in coronavirus-related defaults on Mastercard levy, individual and vehicle advances, compelling them to put aside countless dollars and make strides like asking deals staff to find borrowers who have disappeared. A close to two-month across the nation lockdown to end the spread …

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