By Ira Dugal and Siddhi Nayak MUMBAI (Reuters) – State Bank of India (SBI) expects to give out 3.5 trillion rupees ($42.30 billion) in corporate loans over the rest of this financial year as private companies step up investments in key sectors, the chairman of the country’s largest lender said. The Indian… Continue reading We bet on private capex to grow corporate credit, says SBI chairman
Tag: Credit
RJio gets $2.2 bn from Swedish export credit agency to finance 5G rollout
The country’s largest telecom player Reliance Jio has received a USD 2.2 billion fund support from the Swedish export credit agency to finance equipment for the 5G rollout, according to Reliance Industries’ annual report. The company has largely procured telecom gears from Swedish firm Ericsson and Finnish company Nokia to deploy its 5G… Continue reading RJio gets $2.2 bn from Swedish export credit agency to finance 5G rollout
Bank credit growth to MSMEs decelerates on y-o-y in Q1, finds RBI data
Bank credit growth to Micro, Small and Medium Enterprises (MSMEs) has decelerated on a year-on-year basis in the first three months of the current fiscal, according to Reserve Bank data. Players in the MSME sector, the backbone of domestic industry and largest employer, said risk averseness makes banks reluctant to provide loans to… Continue reading Bank credit growth to MSMEs decelerates on y-o-y in Q1, finds RBI data
Credit extended to Videocon caused loss of Rs 1,000 cr to ICICI Bank
The credit facilities sanctioned by the ICICI Bank to the Videocon group turned into non-performing assets (NPAs) of more than Rs 1,000 crore, the CBI has claimed in the charge sheet filed against the bank’s former CEO Chanda Kochhar, her husband Deepak Kochhar and Videocon founder Venugopal Dhoot. The over 10,000 pages-long charge… Continue reading Credit extended to Videocon caused loss of Rs 1,000 cr to ICICI Bank
Jets’ Aaron Rodgers receives credit from Zach Wilson on long completion: ‘Great call’
The New York Jets kicked off the NFL’s preseason on Thursday night against the Cleveland Browns in the Hall of Fame Game. They did so without the services of their new quarterback, as four-time MVP Aaron Rodgers did not suit up for New York’s first preseason game. Quarterbacks Aaron Rodgers, left, and Zach Wilson of… Continue reading Jets’ Aaron Rodgers receives credit from Zach Wilson on long completion: ‘Great call’
Wells Fargo to tap corporate bond market despite US credit downgrade
By Allison Nicole Smith A handful of borrowers, including Wells Fargo & Co., are looking to raise fresh debt in the US investment-grade bond market, signaling that issuers are undaunted after Fitch Ratings stripped the nation of its top-tier rating on Tuesday. The operating arm of the bank — Wells… Continue reading Wells Fargo to tap corporate bond market despite US credit downgrade
Top headlines: Fitch cuts US credit rating, corporation tax mop-up slips
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Fitch downgrades US credit rating to AA+, Treasury calls it ‘arbitrary’
Rating agency Fitch on Tuesday downgraded the U.S. government’s top credit rating, a move that drew an angry response from the White House and surprised investors, coming despite the resolution of the debt ceiling crisis two months ago. Fitch downgraded the United States to AA+ from AAA, citing fiscal deterioration over the next… Continue reading Fitch downgrades US credit rating to AA+, Treasury calls it ‘arbitrary’
Sharp rise in unsecured loans may push credit costs: India Ratings
India Ratings warns that non-banking finance companies (NBFCs), particularly fintechs focusing on unsecured loans, might face heightened credit costs. These entities have been increasingly pursuing unsecured loans for higher yields in an intensely competitive market. During the financially challenging period marked by the Covid-19 pandemic in FY21 and FY22, NBFCs exhibited caution in… Continue reading Sharp rise in unsecured loans may push credit costs: India Ratings
Franklin Templeton planning to enter private credit industry in India
By Preeti Singh and Saikat Das Franklin Templeton’s India unit is preparing a private credit fund, according to people with knowledge of the matter, which will enable it to lend to companies in a market where banks and shadow lenders have retreated from all but the highest-rated credit. Santosh Kamath, who… Continue reading Franklin Templeton planning to enter private credit industry in India