Bajaj said there are thousands of NBFCs in India as against just about a hundred banks and they have been working with a lighter set of regulations for a long time
The report said NBFC segment is well capitalised for addressing the medium-term growth opportunities
On behalf of the NBFCs, Assocham submitted a detailed memorandum to the Prime Minister, highlighting key issues and suggestions, along with demands
At 14 per cent of GDP, India's shadow-banking universe is much smaller than the 70 per cent ratio in the People's Republic, as Moody's Investors Service notes
Until normalcy returns, analysts advise investors against taking fresh exposure to NBFC stocks
Shares of housing finance companies DHFL, Repco Home Finance Reliance Home Finance, Can Fin Homes, Indiabulls Housing Finance rallied up to 7 per cent on BSE in the intra-day trade on BSE.
According to the revised norms, loans of original maturity of more than five years can be securitised after receiving the repayment of six-month instalments
Consumer and small- and medium-enterprises loans account for 60 per cent of their loan mix
The report said the move is likely to improve funding access for entities rated IND A or lower
The sector has played a critical role in the development of infrastructure, transport and the support system for economically weaker sections
This comes after monetary issues, stemming from asset-liability mismatch, were taken up nearly two months ago
Until a few months ago, NBFCs were recruiting chief executive officers with annual packages of Rs 20-45 million
NBFCs, too, have rallied by over 25% in the past two weeks amid easing of liquidity conditions
An interconnected financial system requires collaborative and calibrated interventions
Amidst authorities working on ways to tackle the IL&FS crisis, Corporate Affairs Secretary Injeti Srinivas Monday said non-banking financial companies, particularly housing finance firms, are facing liquidity issues but there is "no crisis". He also emphasised that there is a need to introspect the business models followed in the NBFC sector and adopt the model that is sustainable. The IL&FS crisis, triggered by debt defaults by some group companies, has sparked off concerns over liquidity in the system, while the Corporate Affairs Ministry last month superseded the holding company's board as part of larger efforts to contain the situation. Responding to queries about liquidity situation, Srinivas said that basically in the NBFC segment, the issue is more pronounced with respect to housing finance companies that are facing liquidity problems. "I won't get into individual names. It is segmental problem... these are big entities part of that segment. At the macro level some ...
The DEA, in a letter to the Ministry of Corporate Affairs, described the financial situation as 'still fragile'
With banks facing non-performing asset (NPA) issues, NBFCs/housing finance companies (HFCs) had become an important source of funding for developers
According to Ajay Piramal, lenders must get confidence that the NBFC sector is a good one to lend to
Debt-to-equity ratio jumps to 10-year high during FY18 as borrowings account for three-fourth of industry's incremental asset growth
RBI enhances single-borrower exposure limit to 15% of bank's capital