With Covid-19 infections rising at an alarming rate in the second wave and many state administrations imposing lockdowns to curb the spread of the virus thus impacting economic activity, Finance Industry Development Council (FIDC) has written to the Reserve Bank of India (RBI) seeking recast facility for retail borrowers of shadow lenders, irrespective of whether such accounts have been restructured on earlier occasions. In a letter to the RBI governor Shaktikanta Das, FIDC said, “Considering the severe second wave of Covid-19, retail borrowers, including MSMEs, as also the retail and wholesale trader industry will be in urgent need of support from the lenders, to revive their economic activities. In this challenging environment for borrowers and lenders, in general, it will be helpful, if the RBI extends the August 6, 2020 notification on one-time restructuring till at least March 31, 2022.”
NBFCs move RBI; seek loan recast, liquidity cushion as COVID-19 wreaks havoc
FIDC (Finance Industry Development Council), a representative body cum self-regulatory organisation for NBFCs, has written to the central bank seeking fresh relief measures
BusinessToday.In | April 27, 2021 | Updated 17:34 IST
Seeking liquidity cushion for the shadow banking sector for on-lending to MSMEs, the industry body has sought an increase in RBI s outlay for AIFIs (All India Financial Institutions) from Rs 50,000 crore to Rs 75,000 crore
Non-banking financial companies (NBFCs) have moved the RBI (Reserve Bank of India), seeking loan restructuring for a second time. The NBFCs have also solicited fresh liquidity support for on-lending to smaller companies.
NABARD Tamil Nadu region aims ₹40,000 crore loan disbursals in FY22
April 08, 2021
In FY21, NABARD Tamil Nadu’s loan disbursal grew by 87% to ₹27,104 crore
The National Bank for Agriculture and Rural Development (NABARD) Tamil Nadu region is planning to make ₹40,000 crore of loan disbursal in FY22, according to a senior official of the development bank.
During FY21, loans disbursed by Tamil Nadu Regional Office of the NABARD reached an all-time high of ₹27,104 crore, nearly doubling from ₹14,458 crore disbursed the previous year.
“In FY21, our loan disbursal grew by 87per cent to ₹27,104 crore. If the same level of growth sustains and co-operation from all stakeholders continues, we are confident of disbursing loans worth ₹40,000 crore in FY22,” S Selvaraj, Chief General Manager, NABARD, Tamil Nadu Region said here on Thursday.
RBIâs policy stance very balanced: India Inc. After the RBI announced that it is maintaining the status quo with regard to its policy stance, India Inc. has reacted very positively to the developments. Here are some of the reactions.
Apr 7, 2021
Despite a pause in rates, RBI s latest policy does enough to boost liquidity and revive growth engines.
Image: Sanjay Rawat
The Reserve Bank of India today announced its monetary policy, wherein it kept the repo rate unchanged at 4%, and retained its accommodative policy stance.
India Inc. has reacted very positively to the developments. Here are a few of such reactions.
1667
Mumbai, April 7
The Reserve Bank of India (RBI) on Wednesday kept key interest rates unchanged at record lows while pledging to buy Rs 1 lakh crore of government bonds this quarter to cap borrowing costs in a bid to support an economy facing a resurgence of the pandemic.
In the first monetary policy of the 2021-22 fiscal, the central bank stuck to its accommodative stance as long as necessary, amid concerns of rising infections that could derail the nascent economic recovery.
RBI s key lending rate, the repo rate, which was cut by a total of 115 basis points last year to soften the blow from the pandemic, will stay at 4 per cent while the reverse repo rate or the central bank s borrowing rate will be unchanged at 3.35 per cent.