crore | Common News Update

Apr52021 by adminNo Comments

Federal Bank gross advances up by 9% at Rs 1.35 lakh crore by March 2021, deposits up 13%

Finance

Private sector lender on Monday reported a 9 per cent increase in its gross advances to nearly Rs 1.35 lakh crore (Rs 1,34,876 crore) by the end of March 31, 2021. The bank's gross advances stood at Rs 1,24,153 crore by the end of March 2020. Federal Bank said the data is provisional and is being released in accordance with SEBI norms on Listing Obligations and Disclosure Requirements Regulations and Code of Practices and Procedures for fair disclosure of unpublished price sensitive information. The CASA (current account and savings account) deposits of the south-based lender witnessed a 26 per cent growth year on year at Rs 58,381 crore as of March 31, 2021, as against Rs 46,450 crore a year ago. Total deposits were up by 13 per cent at Rs 1,72,655 crore as against Rs 1,52,290 crore. Liq...

Mar72021 by adminNo Comments

Reliance Home Finance defaults on Rs 40 crore loan repayment to Punjab & Sind Bank

Finance

Ltd (RHFL) on Saturday said it has defaulted on loan of over Rs 40 crore from Punjab & Sind Bank even as the company has enough cash and cash equivalent which it cannot use due to a court order. The Anil Ambani-controlled Reliance Capital's subsidiary defaulted on loan on February 15, 2021, and the current amount of default is Rs 40 crore alongside an interest of Rs 15 lakh. The company's total obligation is of Rs 200 crore on a 5-year tenure secured term loan at 9.25 per cent per annum from Punjab & Sind Bank, RHFL said in a regulatory filing. The company has net cash (including cash equivalent, liquid mutual fund investments, fixed deposits etc) of more than Rs 1,500 crore, it said. "However the delay in debt servicing is due to prohibition on the company to dispose of, alien...

Feb32021 by adminNo Comments

Shriram City Union Finance aims over Rs 6,000 crore disbursement in Q4

Finance

Mumbai: , a part of Shriram Group, is aiming a disbursement of over Rs 6,000 crore in the fourth quarter, a top company official said. In December quarter, its disbursements grew 6.4 per cent year-on-year to Rs 6,197 crore from Rs 5,822 crore in the year-ago quarter. Close to 75 per cent of the company's total lending is to small and medium enterprises (SME) and two-wheeler segments. "In January, we have done well both in the two-wheeler and SME segments. Looks like the fourth quarter is going to be on par or on the same trajectory of Q3. Disbursements will be over Rs 6,000 crore," company' managing director and CEO Y S Chakravarti said. Its collection efficiency reached the pre-COVID-19 level of 97-98 per cent in the quarter ended December 31, he said. The deposit-taking non banking fin...

Feb22021 by adminNo Comments

Banks’ NPAs decline to Rs 8.08 lakh crore in September 2020 from Rs 10.36 lakh crore in March 2018: Govt

Finance

New Delhi: Non-performing assets (NPAs) or bad loans of the banking sector came down from a high of Rs 10.36 lakh crore at the end of March 2018 to Rs 8.08 lakh crore at the end of September 2020 due to various initiative of the government, Minister of State for Finance Anurag Thakur informed the Rajya Sabha on Tuesday. As a result of the Asset Quality Review (AQR) and subsequent transparent recognition by banks, stressed accounts were reclassified as NPAs and expected losses on stressed loans not provided for earlier under flexibility given to restructured loans were provided for, he said in a written reply. Further, he said, all such restructuring stressed loans were withdrawn. Primarily, as a result of transparent recognition of stressed assets as NPAs, gross NPAs of scheduled commerc...

Jan282021 by adminNo Comments

ICICI Home Fin offers up to Rs 1 crore loan for purchases in regularised colonies of Delhi-NCR

Finance

New Delhi: ICICI Home Finance on Thursday said it has started offering home loans between Rs 10 lakh and Rs 1 crore to customers seeking to purchase homes in Delhi-NCR. The loans can be availed by customers who are seeking to purchase homes in regularised colonies of Delhi-NCR, including Laxmi Nagar, Uttam Nagar, Krishna Nagar and Pitampura, it said in a release. The offering is in line with the government's regularisation bid to create planned urbanisation, and transform the colonies with modern amenities. The regularisation will help achieve the Pradhan Mantri Awas Yojana (PMAY)- Housing for All mission, it said. Home loan seekers can avail subsidy of up to Rs 2.67 lakh under the PMAY, a credit-linked subsidy scheme for middle-income groups (MIG-I and II) and lower-income groups (LIG)....