Lenders for va home loans

Shares of RBL Bank fell 2.8 percent intraday on December 10 as global brokerage house Morgan Stanley remained bearish on the stock citing asset quality concerns.The brokerage has an underweight rating on the stock with a target price of Rs 240 per share, implying 28.4 percent potential downside from current levels. Valuations at 1.5x FY21 appear unattractive, it feels.The stock has already lost 50 percent of its value in last six months, especially due to volatility over asset quality of the bank and weak guidance for second half of FY20.Close At the time of publishing this copy, RBL was quoting at Rs 330, down Rs 4.95, or 1.48 percent on the BSE. related news 'Investors with long-term horizon can look at increasing allocation in small & midcaps' Signs of recovery and hope; are steel manufacturers finally ready to shine? Morgan Stanley believes RBL Bank has strong longer term growth potential."The bank is in the early stages of growth; it remains one of the smallest in … [Read more...] about Morgan Stanley bearish on this private lender, expects 28% downside

Yes Bank may not give its approval for Blackstone Group's buyout of Coffee Day Group's Global Village Technology Park, Mint reports.Coffee Day Group promoters have a debt of around $1 billion, the report said. The proposed Rs 2,800-crore sale of Global Village Technology Park is expected to help the group service some of its debt.Yes Bank is the single-largest lender to Coffee Day Group, with an exposure of Rs 1,500 crore, the report said.Close “Almost all statutory approvals, including the Karnataka government’s nod, have come, except for Yes Bank’s NOC (no-objection certificate)," a source told the paper. related news Nearly 500 CCD outlets shut down across India since April: Report Coffee Day Enterprises executes definitive agreement with Blackstone Group for tech park sale at Rs 2700 crore Blackstone Group signs definitive agreement for Coffee Day's tech park: Report Moneycontrol could not independently verify the report.Yes Bank, Coffee Day … [Read more...] about Coffee Day lender Yes Bank may block Blackstone deal: Report

State Bank of India (SBI) on December 10 reported bad loan divergence of Rs 11,932 crore for the last financial year, the country's largest lender said in a notification to exchanges.SBI also reported divergence of Rs 12,036 crore in provisioning for the financial year ended March 2019.The gross non-performing assets (NPAs) reported by the bank stood at Rs 1.73 lakh crore as on March 31, 2019. However, gross NPAs as detected by RBI was at Rs 1.85 lakh crore for the period.Close While the bank provided Rs 1.07 lakh crore against bad loans, the provisioning requirement as assessed by RBI stood at Rs 1.19 lakh crore. related news RBI had no objection to issuance of electoral bonds through SBI: FM Sitharaman Bharti Airtel rolls out WiFi calling service in Delhi: Report Continental crosses 1 million production milestone in auto components at Bengaluru plant As a result, the bank's fourth-quarter net profit of Rs 838 crore stands adjusted to a net loss of Rs 6,986 crore after … [Read more...] about SBI reports bad loan divergence of Rs 11,932 crore for FY19

Shares of State Bank of India fell a percent intraday on December 10 after reporting about Rs 12,000 crore divergence in their bad loans for fiscal 2018-19.This could be one of the reasons for correction in Nifty PSU Bank index that fell 1.4 percent at the time of publishing this copy. State Bank of India was down 0.71 percent at Rs 314.50.Allahabad Bank, J&K Bank, Central Bank of India, Union Bank, Syndicate Bank, PNB, Indian Bank, Oriental Bank of Commerce, Bank of India and Bank of Baroda were down 1-5 percent.Close As per the assessment done by the RBI, the gross NPA of the country's largest lender was Rs 11,932 crore more at Rs 1,84,682 as against Rs 1,72,750 reported by the bank for 2018-19, SBI said in a regulatory filing. related news SBI reports bad loan divergence of Rs 11,932 crore for FY19 Motilal Oswal cuts L&T target price on lower growth expectation D-Street Buzz: IT stocks drag led by TCS; Zee Ent falls 3%, Indiabulls Housing most active Similarly, … [Read more...] about PSU Bank index dips over 1% after SBI reports bad loan divergence for FY19

In 1985, the Government of India introduced a public housing scheme called Indira Awas Yojana. The chief objective of this scheme was to construct houses for the deprived sections residing in rural areas.  In 1996, the project was taken under the aegis of the Ministry of Rural Development and aimed at eradicating rural poverty and empowering the people residing in rural areas through various development programs. From April 1, 2016, Indira Awas Yojana was restructured to become a part of the Pradhan Mantri Awas Yojana, a flagship project of the Government to provide affordable housing for all sections of the society. Pradhan Mantri Awas Yojana has two categories:  Pradhan Mantri Awas Yojana Urban and Pradhan Mantri Awas Yojana Gramin.The mission of PMAY Gramin is to provide pucca houses equipped with basic amenities to every homeless person and those who currently reside in Kutcha and dilapidated homes by 2022. Features of Pradhan Mantri Awas Yojana GraminFollowing are … [Read more...] about Pradhan Mantri Awas Yojana Gramin: Types, eligibility, features and benefits