Yes, there has been a fair bit of activity on balance transfers in the home loan segment. This is because some of the housing finance companies (HFCs) have not been passing on the rate cut benefit to their existing customers. The internal benchmark rate at HFCs, to which rates are linked, has not moved down in line with reduction in borrowing costs. Therefore, we are seeing a lot of those customers opt for home loan balance transfers to banks, where the rates are linked to a transparent external benchmark such as the repo. Banks are thus gaining market share in mortgages. … [Read more...] about Secured loan book back to pre-COVID levels: Axis Bank
Indiabulls loan status
The firm has raised a total of Rs 2,670 crore as fresh equity in the month of September, October, and November 2020 - Rs 683 crore through QIP and Rs 1,987 crore through the sale of a stake in OakNorth - adding to the regulatory equity capital of the company, it added. … [Read more...] about Indiabulls Housing Finance sells part of its stake in OakNorth Holdings, raises Rs 93 crore
The PPP, established by the coronavirus relief package in March to help small businesses retain workers, oversaw two rounds of funding. Both were depleted in days as the program fielded a stampede of applications from struggling small businesses across the country. Thousands reported difficulties with the application system and many never received aid. … [Read more...] about Trump, Kushner properties nabbed $3.65 million in PPP loans
Analysts, including Ghosh, say that the RBI purchasing bonds through OMOs can be termed as ‘indirect monetisation’. The central banks has been active in purchasing central government bonds (g-secs), in greater volumes than any other year, thus helping keep the centre’s finances afloat. The same will now be done for the states. … [Read more...] about RBI offers ‘indirect monetisation’ route to states to help with their stretched finances
IDBI Bank has been losing money for the past three years. During this period the bank’s gross non-performing assets ballooned to 27.9 percent of advances and net non-performing assets touching 16.7 percent and capital buffer fell to a level that will not permit the lender to do incremental business. In medical parlance, the condition is akin to a “patient in a coma” requiring life support. … [Read more...] about Is a possible stake sale to LIC the best solution to IDBI’s problems?