Power sector Non-Banking Financial Company (NBFC), Power Finance Corporation Ltd. (PFC), has raised $500 million on January 29 through issuance of dollar denominated Bonds with a fixed maturity of May 16, 2031. New Delhi: Power sector Non-Banking Financial Company (NBFC), Power Finance Corporation Ltd. (PFC), has raised $500 million on January 29 through issuance of […]
RBI Update – Special liquidity scheme for NBFCs/HFCs
Reserve Bank of India has issued a notification pursuant to a scheme approved by Government of India to improve the liquidity position of NBFCs/HFCs through a Special Purpose Vehicle (SPV) to avoid any potential systemic risks to the financial sector. Following NBFCs/HFCs are eligible under the Scheme: (a) NBFCs including Microfinance Institutions that are registered […]
Supreme Court directs the RBI to ensure implementation of the Circular dated 27.03.2020 in its letter and spirit.
Supreme Court directs the Reserve Bank of India to ensure implementation of the Circular dated 27.03.2020 in its letter and spirit. The circular on moratorium of 3 months from loans For more information please see below link:
RBI cuts Reverse Repo Rate by 25 bps to 3.75% to Address the Liquidity Stress During COVID-19 Lockdown
“During our darkest moment, we must focus on the light,” the RBI Governor said. The Reserve Bank of India (RBI) on Friday freed up more capital for banks to lend, announced a fresh Rs 50,000 crore targeted long-term repo operation (LTRO 2.0) to address the liquidity stress of shadow banks and microfinance institutions and hinted […]
Covid-19 lockdown impact: Power demand drops as offices stay plugged out
The price discovered on the IEX Day Ahead Market for delivery on Wednesday was at ₹1.95 per unit. The spot power price hit a low of ₹1.90 per unit in June 2017 due to excessive rainfall. Sources said the closure of offices and factories, reduced buying by state distribution utilities and the Indian Railways stopping […]
RBI extends priority sector classification for bank loans to NBFCs for on-lending for FY21
Earlier, the priority sector lending classification for on-lending to NBFCs was available till March 31, 2020. The RBI also said that the existing loans disbursed under the on-lending model will continue to be classified under Priority Sector till the date of repayment or maturity. he Reserve Bank of India (RBI) on Monday decided to extend […]
India Inc foreign borrowings jump over two-fold to $3.41 billlion in October
NEW DELHI: India Inc’s foreign borrowings grew over two-fold to $3.41 billion in October over the corresponding month a year ago, according to data from the Reserve Bank of India. Indian companies had raised $1.41 billion in borrowings from overseas markets in October 2018. Of the total money borrowed by the domestic companies, $2.87 […]
RBI to ease lending limits for green energy sector
Ghodwat opined that the decision would lead to speedy implementation of projects and reduce construction cost. BENGALURU: In an attempt to boost renewable energy sector, the Ministry of New and Renewable Energy (MNRE) would request the Reserve Bank of India (RBI) to categorise renewable energy as a separate segment and remove priority sector lending limit. […]