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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
Banks are in wait-and-watch mode and have not been lending to IIFL for gold and its other businesses. The impact of the curbs is likely to be around Rs 500 crore.
Two months after the Reserve Bank of India barred IIFL Finance from sanctioning gold loans, the non-bank financial company seems to be facing a major liquidity crunch.
A Reuters report citing three insiders, including a senior official, said that banks have not been lending to IIFL for gold and other businesses and that the impact of the curbs is likely to be around Rs 500 crore.
“Banks are neither sanctioning new lines (of credit) nor disbursing from already sanctioned limits,” the report quoted an unnamed official at the company as saying.
“Banks are currently in a wait-and-watch mode, and are …
The acquisition of IDBI Bank puts his Fairfax smack dab in the middle of the RBI’s rules on bank ownership. It must now decide whether to sell CSB Bank or merge the two lenders, neither of which will be easy.
Lenders stand to gain a lot more than borrowers in the current challenging market environment
The central bank’s shift to a 100% collateral requirement threatens to erode leverage, reduce volumes and force a consolidation across prop desks.
