Nirmala Sitharaman to meet PSU bank chiefs on Friday; to review credit flow to prop up virus-hit economy
The meeting with PSU bank chiefs was earlier scheduled on 11 May, but due to the stimulus package announcements, it was deferred,
SBI to extend moratorium to NBFCs to tide over coronavirus pandemic crisis, says MD Dinesh Kumar Khara
The country's largest lender SBI has decided to extend the RBI-approved moratorium to the cash-strapped NBFC sector to help them tide over the crisis, its MD Dinesh Kumar Khara said on Thursday
Coronavirus Outbreak: SIDBI to provide 90-day term loans to banks, NBFCs, MFIs for onward lending to MSMEs
SIDBI will offer liquidity to banks, NBFCs and MFIs as term loans for a tenor of 90 days and for a maximum period of one year,
Only a dozen-odd of the 52 micro lenders have investment-grade ratings and are thus eligible to issue debt instruments that can be picked by banks using the Rs 50,000-crore special liquidity tap that the Reserve Bank of India has opened up over the weekend
Microfinance lenders' umbrella body Sa-Dhan has urged Prime Minister Narendra Modi for an extension of the loan moratorium benefits to the MFI industry in a bid to help small-ticket borrowers, who are at the risk of being pushed into extreme hardships
Microfinance institutions which have started witnessing delay in loan repayment in Assam following the outbreak of protests against the new citizenship law are keeping their fingers crossed for a stability in their operations, industry insiders said
Economy to start looking up in days ahead, says Nirmala Sitharaman; private banks, financial institutions not facing any liquidity problem
Nirmala Sitharaman said that she had not heard of any liquidity problem after meeting with private banks, MFs, NBFCs and small finance banks
It would help if both the Mudra agency and the Ministry of Finance put out regular and detailed data regarding Mudra bad loans.
Releasing the Bharat Microfinance Report 2018 on Wednesday, Union MSME Minister Giriraj Singh said the interest rate at which bankers provide loan to microfinance institutions should be brought down so that more people can be brought under the ambit of microfinance.
India Ratings said apart from the MFIs, two-wheeler and consumer durables financiers will have to take severe haircuts, while the pain will be a bit lesser for agriculture loans, motor insurance and loans against property
Considering the dominance of MFIs in the final list, the RBI clearly wants microlenders to take up a bigger role in taking banking to the rural poor.
A staggering Rs 40,000 crore is required for the loan waiver schemes for farmers and also women self-help groups.
The Prime Minister launched the first welfare scheme launched by his new government that hopes to radically improve financial inclusion in the country.
Bank accounts are indeed the first step for someone in the hinterland to step into the world of formal finance. But the current plan of the Modi government isn't guaranteed to succeed for these reasons.
Naidu is riding a tiger and it is difficult to get off unless some miracle happens, in the form of assistance from the Centre.<br />
BI has asked banks to provide information in tabular form with regard to ineligible beneficiaries, the eligible beneficiaries who were denied loans, money given to microfinance institutions, tampering of records and cases where relief certificates were not issued.