Sunday, 29 May, 2022
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TopicNBFC

Topic: NBFC

RBI to introduce prompt corrective action framework for NBFCs from next October

ANI -
The PCA framework shall come into effect from 1 October 2022, based on the financial position of NBFCs on or after 31 March next year.

How India is successfully using insolvency code to resolve NBFCs in trouble

Ila Patnaik -
RBI superseded boards of Srei Infra Finance and Srei Equipment Finance, and their insolvency process is expected to be IBC-like, as it was in DHFL’s case.

Why RBI’s proposed microfinance policy changes are borrower-friendly

Shreya Garg -
Proposed changes divert the borrower away from informal lenders and also show the RBI’s intent of giving the NBFC-MFIs a level-playing field in the financial system.

Covid economic distress is real, just look at the full-page ads for gold jewellery auctions

Remya Nair -
Newspapers are filled with ads of gold jewellery auction amid indications of economic distress faced by Indian households. But resurgence in gold prices could stem the auctions.

Indians seen rushing for gold loans again as pandemic deepens economic distress, uncertainty

Remya Nair -
In India, with nearly every household owning gold jewellery in some quantity, gold loans are a preferred option at a time of widespread unemployment and loss of income.

DHFL gets big bids as NBFC sector begins to show signs of recovery

Suvashree Ghosh -
Oaktree Capital Group has offered Rs 366.5 billion, up from Rs 310 billion in its previous bid for DHFL. Piramal Enterprises and Adani Group also improved their proposals.

NBFCs show signs of recovery as economy begins to rebound

Divya Patil -
A stronger NBFC sector, which has been struggling since a crisis in 2018 when a large financier unexpectedly defaulted, is key to helping staunch further trouble in the economy.

Only 1 NBFC sought bank licence in last 4 years even though RBI has offered it ‘on tap’

Manojit Saha -
Becoming banks would give NBFCs access to low-cost deposits. But even after IL&FS crisis led to rising borrowing costs, no company applied for a bank licence.

Ray of hope for PMC Bank revival as investors show interest

Manojit Saha -
Potential investors will have the option to convert PMC Bank into a small finance bank provided they meet the RBI’s licensing conditions.

GDP data will show today how badly Covid hit Indian economy that had already slowed down

Anirban Nag -
Even before pandemic struck, India was in the midst of a slowdown as a NBFC crisis hurt new loans & took a toll on consumption, which accounts for 60% of GDP.
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Representational image of cryptocurrencies | Pizabay

What are UST & Luna and why the fall of 2 ‘stablecoins’ led to a crypto crash in India

Shubham Batra -
Along with crash in value of UST and Luna coins, Indian market for crypto assets also reeling under strict control imposed by government, with the imposition of TDS on all crypto transactions.

Defence

NSA Ajit Doval with NSAs from the other countries at the meeting at Dushanbe, Tajikistan | Photo: Courtesy the NSA's office

NSA Ajit Doval pushes for ‘terror free’ Afghanistan, says India stands with Afghan people

Snehesh Alex Philip -
Doval's comments came at 4th Regional Security Dialogue on Afghanistan attended by national security advisors from Tajikistan, India, Russia, Kazakhstan, Uzbekistan, Iran, Kyrgyzstan & China.

National Interest

Why it’s obscene to tell Ukraine to give in & how war-upended global balance of power brings openings for India

Shekhar Gupta -
Global order is in flux, and India is being wooed by all. It opens up economic, strategic & military possibilities unimaginable till recently. It is for India to take this opportunity.

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