caps | Common News Update

Jan222021 by adminNo Comments

RBI paper suggests caps on NBFCs IPO, real estate financing, tighter regulations

Finance

Mumbai: A Reserve Bank of India (RBI) discussion paper on a new regulatory framework for non banking finance companies (NBFCs) has proposed a cap on lending by NBFCs to subscriptions in initial public offerings (IPOs) and in lending to real estate unless government approvals are obtained. The new norms which were put in the public domain for discussion on Friday, said the internal ceiling on sensitive sectors for NBFCs should separately disclose capital market and commercial real estate exposures. IPO financing by NBFCs, a large business for some of these companies has come under close scrutiny, as while there is a limit of Ra 10 lakh for banks financing IPOs, there is no such limit for NBFCs. "Taking in to account the unique business model of NBFCs, it is proposed to fix a ceiling of Rs ...

Jun172020 by adminNo Comments

Nationwide caps mortgage lending due to virus

Business

The UK's biggest building society has tripled the minimum deposit it will ask for from first-time buyers.The Nationwide will lower its ceiling for mortgage lending to new customers in response to the coronavirus crisis.It said the change, from Thursday, was due to "these unprecedented times and an uncertain mortgage market".First-time buyers are likely to be the most significantly affected because they often have smaller amounts saved to get on the property ladder.Nationwide has reduced the proportion of a home's value that is willing to lend from 95% to 85%.So for example, if a property costs £100,000, a new buyer would now need a £15,000 deposit rather than a £5,000 deposit. Nationwide made the move in case house prices...

Mar302020 by adminNo Comments

Coronavirus: UK broadband data caps removed during pandemic

Technology

The UK’s main internet providers have agreed to remove data caps on fixed-line broadband during the coronavirus pandemic.The move is part of a range of new measures agreed between telecoms companies and the government.Other commitments include “fairly and appropriately” supporting customers who have trouble paying their bills.Providers have also agreed to offer “generous” new mobile and landline packages, the government said.Those companies who have signed up to the commitments include: BT, including its Openreach and EE divisions Virgin Media Sky TalkTalk O2 Vodafone Three Hyperoptic Gigaclear Kcom The initiative supplements measures the individual companies had already announced themselves. ...

Nov12019 by adminNo Comments

Broader markets bounce back, small and mid caps outperform benchmarks

Finance

India’s benchmark indices ended off the day’s highs on Thursday, with the BSE Sensex retreating from its all-time high, following reports that China doubts the possibility of a long term trade deal with US President Donald Trump. The indices rose 0.8% intraday, on the back of a rate cut by the US Federal Reserve, before paring the gains. The Sensex ended up 77.2 points, or 0.2%, at 40129.05, while the NSE Nifty closed 37.10 points, or 0.3%, higher at 11881.20. The broader market outperformed the benchmark indices, with the BSE MidCap index gaining 1.1% and the SmallCap index gaining 0.9%. The Sensex surpassed its previous record high of 40312, which it had touched in June, to 40392.22 during the session. The Nifty climbed 0.8% during the session to 11945. Thursday also marked the expiry of...

Oct12018 by adminNo Comments

Naina Lal Kidwai appointed Altico Cap’s independent chairperson

Finance

Altico Capital India, the real estate-focused non-banking financial company (NBFC) backed by Clearwater Capital, Abu Dhabi Investment Council and Varde Partners, has appointed Naina Lal Kidwai as the independent chairperson of its board of directors. The appointment comes in the backdrop of the company’s plan to double its loan book to $ 2 billion over the next 18 months. Current chairman Robert Petty is stepping down while continuing to remain on the board as non-executive director. He will remain an active shareholder director on the board as co-CEO of Clearwater Capital Partners, Altico’s largest shareholder before it was taken over by Fiera Capital Corporation. Canada-based listed asset manager Fiera Capital Corporation entered into an agreement to acquire Clearwater Capita...