> The 26 sectors specified by the panel are: Power, construction, iron and steel manufacturing, roads, real estate, trading wholesale, textiles, chemicals, consumer durables/FMCG, non-ferrous metals, pharma, logistics, gems and jewellery, cement, auto components, hotels, mining, plastic products manufacturing, automobile manufacturing, auto dealership, aviation, sugar, port and port services, shipping, building materials, and corporate retail outlets. … [Read more...] about KV Kamath committee report on loan restructuring for sectors: What does it mean?
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A public sector bank should be your first priority as interest rates are lowest compared to private banks and non-banking financial companies (NBFCs). For instance, public sector banks such as the State Bank of India and Canara Bank charge 7.50 per cent and 7.65 per cent interest, respectively, per annum on gold loan. Private banks charge interest rates in the range of 9.90-11.5 per cent a year and NBFCs such as Manappuram Finance, Muthoot finance charge 12 per cent interest annually. … [Read more...] about What are the charges for gold loans, how is the value of ornaments calculated, which lenders are the best and other key questions answered
“Relaxation of LTV ratio for gold loans relaxed to 90 percent from 75 percent is positive. It was very strange that that earlier gold businesses were not able to take a credit decision. Theoretically, to bring a parity there should not be a limit it should be the risk control of the lender itself to decide as to whether they want to do 60-80 percent or whatever is justifiable," Prateek Agrawal, Business Head & CIO, ASK Investment Managers Ltd said in a podcast with Moneycontrol. … [Read more...] about Increase in LTV ratio negative for gold loan financing firms, but good for banks: Experts
> On concerns expressed on the last date, two or three rounds of meeting have taken place and it has been examined. Considered decisions have to be taken. In consultation with banks as banks will play a vital role. Kindly defer for two weeks. (Inputs from LiveLaw) … [Read more...] about SC Hearing on Loan Moratorium Highlights | Hearing to resume on Sep 28; interim orders to continue
Vaccine development is a long, complex process. Unlike drugs that are given to people with a diseased, vaccines are given to healthy people and also vulnerable sections such as children, pregnant women and the elderly. So rigorous tests are compulsory. History says that the fastest time it took to develop a vaccine is five years, but it usually takes double or sometimes triple that time. … [Read more...] about Firms in hospitality, aviation, tourism sectors likely to seek loan recast: Bankers