finance companies – Save Western OH http://savewesternoh.org/ Fri, 11 Mar 2022 09:11:18 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://savewesternoh.org/wp-content/uploads/2021/08/cropped-icon-32x32.png finance companies – Save Western OH http://savewesternoh.org/ 32 32 Top 10 finance companies in India https://savewesternoh.org/top-10-finance-companies-in-india/ Thu, 24 Feb 2022 14:52:06 +0000 https://savewesternoh.org/top-10-finance-companies-in-india/ Non-bank financial Companies.Companies which actually facilitate financial and banking facilities rather than meeting banking standards. Let’s now discover the Top 10 Finance Companies in India.]]>

Non-bank financial Companies.Companies which actually facilitate financial and banking facilities rather than meeting banking standards. Let’s now discover the Top 10 Finance Companies in India.

    Top 10 Finance Companies in India-TeluguStop.com

1- Bajaj Finance Limited: Bajaj Finance Limited is a subsidiary of Bajaj FinServe Limited, established in 2007. Its head office is in Pune. This society.

Provides loans, general insurance, consumer credit and commercial loans to small and medium-sized enterprises (SMEs).2- Tata Capital Financial Services Limited: Tata Capital Limited is a provider of financial services and investment in IndiaThe Mumbai-based company offers consumer loans, wealth management, trade finance, infrastructure finance, and more.

Company. A subsidiary of Tata Sons Limited. It was founded in 2007.

3- Aditya Birla Finance Limit: Aditya Birla Finance Limited is part of Aditya Birla Financial Services. It was merged in 1991.

4-L & T ఫైనానఫైనానసస: L & T ఫైనానఫైనానసస లిమిటెడలిమిటెడ 1994 లోలోథాపించబడిందిథాపించబడింది. Headquartered in Mumbai.

It provides financial services to various sectors such as agriculture, commerce and industry.

5- ముతముతతూటతూట ఫైనానససస లిమిటెడలిమిటెడ: ఇది భారతదేశపుభారతదేశపుటమొదటి NBFC సంససంసథ. Its history dates back to 1888.Muthoot Finance Limited offers loans only on gold jewelry.

6- Mahindra & Mahindra Financial Services Limited: Launched in January 1991 as Maxi Motors Financial Services Limited. Mahindra Mahindra Financial Services Limited is a non-banking rural financial company headquartered in Mumbai. 7- HDB Financial Services: HDB Financial Services is managed by HDFC Bank.

Provides secured and unsecured financial loans. Recognized as one of the fastest growing financial companies in the India.8- Power Finance Corporation Limited: Founded in 1986, Power Finance Corporation Limited provides financial assistance to various energy projects in the country.

9- Shriram Transportation Finance Company Limited: Founded in 1979, the company specializes in general insurance, mutual funds, pooled assets, securities brokerage and general protection.10- Cholamandalam Investment and Finance Company: Cholamandalam Investment and Finance The company was established in 1978 as an equipment finance company as part of the financial services division of the Murugappa Group. Provides services as a financial service provider – Top 10 Finance Companies In India Telugu title: – Telugu News #TeluguNews #TeluguBreaking #Telugu #TeluguStop | Telugu News #Mahindra #Tata #Bajaj #AdityaBirla #Birla#India #TeluguNews #TeluguNewsVideos Channel:Telugu News

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Video: Top 10 Finance Companies in India, Finance Companies, India, Bajaj Finance Limited, Tata Capital Financial, Muthoot Finance Limited, Mahindra Financial Services Limited, Mahindra Finanace #TeluguStopVideo

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List of Top 10 Finance Companies in India https://savewesternoh.org/list-of-top-10-finance-companies-in-india/ Wed, 02 Feb 2022 15:50:00 +0000 https://savewesternoh.org/list-of-top-10-finance-companies-in-india/ Top 10 finance companies in India: Non-Banking Financial Companies (NBFCs) are institutions that facilitate financial and banking facilities without actually meeting the criteria of a bank. These institutions are regulated by the central bank and play a vital role in the economic growth of a country. Here is the list of top finance companies in […]]]>

Top 10 finance companies in India: Non-Banking Financial Companies (NBFCs) are institutions that facilitate financial and banking facilities without actually meeting the criteria of a bank. These institutions are regulated by the central bank and play a vital role in the economic growth of a country.

Here is the list of top finance companies in India.

1- Bajaj Finance Limited: Founded in 2007, Bajaj Finance Limited is a subsidiary of Bajaj Finserv Ltd. Its head office is in Pune. The company is involved in loans, general insurance, consumer credit, small and medium enterprises (SMEs), commercial loans and wealth management.

2- Tata Capital Financial Services Ltd: Tata Capital Limited is a financial and investment services provider in India. The Mumbai-based company offers consumer loans, wealth management, trade finance, infrastructure finance, among others. The company is a subsidiary of Tata Sons Limited and was established in 2007.

3- Aditya Birla Finance Ltd: Aditya Birla Finance Limited is part of Aditya Birla Financial Services. It was incorporated in 1991 and offers precise and personalized solutions ranging from corporate finance to commercial mortgage lending, and from capital markets to structured finance.

4-L & T Finance Limited: L&T Finance Limited was established in 1994 and is headquartered in Mumbai. It offers financing services to different sectors such as agriculture, trade, industry.

5- Muthoot Finance Ltd: It is India’s first NBFC institution and its history dates back to 1888. Muthoot Finance Ltd only lends against gold ornaments and offers foreign exchange services, money transfers, wealth management, travel and tourism services.

6- Mahindra & Mahindra Financial Services Limited: Established in January 1991 as Maxi Motors Financial Services Limited, Mahindra & Mahindra Financial Services Limited is a non-banking rural financial company headquartered in Mumbai. It is among the leading tractor lenders in India and offers gold advances, working capital advances and ventures among others.

7- HDB Financial Services: HDB Financial Services is operated by HDFC Bank and offers secured and unsecured financial loans. It operates through Lending Business and BPO Services segments and is considered one of the fastest growing financial companies in India.

8- Power Finance Corporation Limited: Founded in 1986, Power Finance Corporation Limited provides financial assistance to different power projects in the country and supports organizations involved in the generation, transmission and distribution of electricity.

9- Shriram Transport Finance Company Limited: Founded in 1979, the company specializes in general insurance, mutual funds, common property, brokerage and general protection. The Company focuses, among other things, on the financing of commercial and commercial vehicles.

10- Investment and financing company of Cholamandalam: Cholamandalam Investment and Finance Company started as an equipment finance company in 1978 as a financial services arm of Murugappa Group and snowballed into a financial services provider.

Read also | Budget 2022-2023: List of major announcements related to the agricultural sector

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Back to Basics, Continued—Why Does the SBA Deny Financial Firms “Eligibility” for PPP Loans? | Denton https://savewesternoh.org/back-to-basics-continued-why-does-the-sba-deny-financial-firms-eligibility-for-ppp-loans-denton/ Tue, 25 Jan 2022 08:00:00 +0000 https://savewesternoh.org/back-to-basics-continued-why-does-the-sba-deny-financial-firms-eligibility-for-ppp-loans-denton/ Over the past several months, we have seen consumer finance companies deny forgiveness of their PPP loans based on a determination of ineligibility for such loans under the Aid, Relief and Restoration Act. economic security of the coronavirus (CARES law). So, although their banks gave them PPP loans in good faith, the SBA denials arrived. […]]]>

Over the past several months, we have seen consumer finance companies deny forgiveness of their PPP loans based on a determination of ineligibility for such loans under the Aid, Relief and Restoration Act. economic security of the coronavirus (CARES law). So, although their banks gave them PPP loans in good faith, the SBA denials arrived. And, it should be noted here that the Secretary of the Treasury, in March 2020, deemed consumer lending to be an essential business to do during these early dark days of the pandemic. So why is the SBA now determining that loans to consumer finance companies are not eligible for forgiveness?

The simple answer is because “they say so”. The more complex answer is that the SBA is misinterpreting the CARES Act and the intent of Congress in passing the same thing in March 2020.

Too often the size of PPP loans is relatively small and the cost of appeal outweighs the benefit of fighting the SBA’s decision, especially in the absence of our ability to provide a degree of certainty that calls will be confirmed.

However, some consumer finance companies have received large PPP loans; and, for them, the effort of calling is worth the cost of the fight.

We now see two divergent paths that Administrative Law Judges (ALJs) seem to take to review SBA decisions and issue rulings. One path—the path of least resistance for ALJs—is to find that the ALJ does not have the authority to overrule SBA regulations that CARES Act PPP loans are Section 7a loans and therefore cannot be granted to consumer lenders under the SBA. Section 7a Loan Program.

The second route – taken by at least one ALJ – is to assert that the 6th Circuit Court of Appeals justification that PPP loans are not limited by Section 7a, is correct and indeed can be followed by the ALJs.

The problem is rapidly growing. So stay tuned.

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Third wave curbs asset growth of housing finance companies by 200 basis points https://savewesternoh.org/third-wave-curbs-asset-growth-of-housing-finance-companies-by-200-basis-points/ Tue, 18 Jan 2022 08:00:00 +0000 https://savewesternoh.org/third-wave-curbs-asset-growth-of-housing-finance-companies-by-200-basis-points/ The third wave of the pandemic could shave 100 to 200 basis points (bps) off growth in housing finance companies (HFCs) assets, Crisil said in a report. “The third wave of the COVID-19 pandemic could reduce up to 200 basis points… [the] base case estimate of 9-11% compound annual growth rate (CAGR) of assets under […]]]>

The third wave of the pandemic could shave 100 to 200 basis points (bps) off growth in housing finance companies (HFCs) assets, Crisil said in a report.

“The third wave of the COVID-19 pandemic could reduce up to 200 basis points… [the] base case estimate of 9-11% compound annual growth rate (CAGR) of assets under management (AUM) of HFCs for fiscal years 2022 and 2023,” the rating agency said in the report.

He said growth would be even higher compared to the 2% average in fiscal years 2020 and 2021, although slower than the broad-based 24% recorded between fiscal years 2011 and 2019. This period had seen a nearly increase in the number of HFCs fueled by equity and debt capital availability.

“The growth this time around will largely come from players with better credit profiles,” Crisil said. “Organic consolidation, which began in fiscal 2019, will continue,” he added.

Of the total HFC AUM of Rs 13.2 lakh crore as of March 31, 2021, home loans constituted the largest segment (71%), followed by wholesale loans (18%) and loans against property (LAP; 11 %).

Krishnan Sitaraman, Senior Director and Deputy Head of Ratings, Crisil Ratings, said: “Real estate lending will be the fastest growing segment as lenders continue to be selective in the non-real estate segment (including wholesale lending and LAP).

“After relatively weak growth in recent years, the home loan segment is expected to register a CAGR of 12-14% in fiscal 2022 and 2023. This will be driven by improving sales, better affordability and a preference for lending. home ownership and larger homes. he said.

“That said, the third wave of the pandemic could reduce this growth by 100 to 200 basis points depending on its spread, intensity and duration,” he added.

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Housing finance companies: HFCs expected to post strong loan growth in Q3, other NBFCs may have a harder time https://savewesternoh.org/housing-finance-companies-hfcs-expected-to-post-strong-loan-growth-in-q3-other-nbfcs-may-have-a-harder-time/ Fri, 07 Jan 2022 08:00:00 +0000 https://savewesternoh.org/housing-finance-companies-hfcs-expected-to-post-strong-loan-growth-in-q3-other-nbfcs-may-have-a-harder-time/ Mumbai: Non-Banking Financial Companies (NBFCs) are expected to post mixed results in the December quarter overall, analysts say. Home finance companies (HFCs) are expected to post strong loan growth, driven by housing demand, while earnings from vehicle finance companies are expected to be subdued due to slow passenger vehicle sales. Microfinance companies, on the other […]]]>
Mumbai: Non-Banking Financial Companies (NBFCs) are expected to post mixed results in the December quarter overall, analysts say.

Home finance companies (HFCs) are expected to post strong loan growth, driven by housing demand, while earnings from vehicle finance companies are expected to be subdued due to slow passenger vehicle sales. Microfinance companies, on the other hand, will be hit by slower collection efficiency, they said.

HFCs, led by HDFC, will continue to outperform as robust loan growth was also supported by improved collection efficiency, analysts said. However, microfinance will continue to face challenges. “Microfinance collection efficiency has been volatile and is likely to be affected due to a resurgence of Covid-19 infections. Some lenders may choose to cancel some old loans during the quarter, which could impact provisions,” said Shreepal Doshi, an analyst at Equirus Securities.

Vehicle finance companies could be hit by weak sales as business volumes in passenger vehicles were hit by chip shortages in the third quarter. “Although medium and heavy commercial volumes have recovered, lenders expect a strong improvement from FY23. Used commercial vehicle disbursements remained at similar levels to the second quarter. Demand for commercial vehicles has improved, but is still far from pre-19 levels,” Motilal Oswal analysts said in a briefing note. With HFCs, Motilal Oswal expects a strong recovery in consumer lending, in line with the recovery in economic activity. He expects Bajaj Finance’s new loan bookings to increase 13% in the quarter, with a reduction in excess liquidity and no significant cancellation of interest income contributing to margins.

Kotak Institutional Equities expects disbursements to be strong for most housing finance companies in the quarter ended Dec. 31, despite weak overall volumes during the holiday season.

Gold lenders are expected to report strong assets under management due to increased footfall, better promotions and high gold prices.

However, even though recoveries have improved due to the easing of restrictions, analysts will remain alert to any impact of stricter asset recognition standards for NBFCs. In November, the Reserve Bank of India instructed NBFCs to move to a daily classification of NPAs from the month-end classification followed by many NBFCs.

Additionally, accounts cannot be upgraded to standard unless dues are fully recovered. These changes bring the asset classification rules of NBFCs in line with those of banks and are likely to increase the non-performing assets (NPA) of these entities.

The central bank also announced new standards for stricter supervision of NBFCs under which these entities will face restrictions on activities if certain parameters such as NPAs and capital adequacy are breached.

These standards will be effective from October 2022 and NBFCs will need to prepare to implement them.

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Premium finance companies may extend payment terms after Kentucky tornadoes https://savewesternoh.org/premium-finance-companies-may-extend-payment-terms-after-kentucky-tornadoes/ Wed, 05 Jan 2022 16:58:10 +0000 https://savewesternoh.org/premium-finance-companies-may-extend-payment-terms-after-kentucky-tornadoes/ [ad_1] Premium finance companies are allowed to extend due dates for premiums and other charges in the wake of tornadoes that ravaged the state in December, the Kentucky Insurance Commissioner said. Finance companies should also refrain from canceling deals, as postal service has been cut off for some policyholders, Commissioner Sharon Clark said in a […]]]>


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Premium finance companies are allowed to extend due dates for premiums and other charges in the wake of tornadoes that ravaged the state in December, the Kentucky Insurance Commissioner said.

Finance companies should also refrain from canceling deals, as postal service has been cut off for some policyholders, Commissioner Sharon Clark said in a bulletin this week. She also said that many consumers may not have access to their premium finance contracts and finance companies should provide copies on request.

A band of powerful tornadoes struck southwest Kentucky on December 10, damaging hundreds of properties and killing 77 people. Financial firms now have until Jan. 10 to authorize an extension of payment deadlines, although state officials may allow further extensions after that, Clark said.

The commissioner said the ministry had received inquiries about the possibility for finance companies to extend payment deadlines and deadlines. The answer is “yes”, but with caveats.

“In light of the state of emergency declared by Governor Beshear in Executive Order 2021-923, insurance premium finance companies are allowed to extend periods which, when extended, will benefit their clients, ”Clark’s newsletter reads. “These extensions should be valid for reasonable periods of time that will not cause financial hardship to consumers when payments become due after the extensions expire.”

Finance companies offering the extensions should notify the department by emailing Rob.Roberts@ky.gov.

Photo: A resident examines damage to a home following the December 10 tornado in Dawson Springs, Ky. (Photo AP.)

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Why Housing Finance Companies Charge Higher Interest Rates Than Banks https://savewesternoh.org/why-housing-finance-companies-charge-higher-interest-rates-than-banks/ Mon, 06 Dec 2021 08:00:00 +0000 https://savewesternoh.org/why-housing-finance-companies-charge-higher-interest-rates-than-banks/ Home Loan Interest Rates (Banks vs. HFCs/NBFCs): Home loans are provided to customers by banks and some non-bank finance companies (NBFCs) registered as housing finance companies (HFCs). Home loans are provided to customers by nationalized banks and some non-bank finance companies (NBFCs) registered as housing finance companies (HFCs). All these institutions are regulated by the […]]]>

Home Loan Interest Rates (Banks vs. HFCs/NBFCs): Home loans are provided to customers by banks and some non-bank finance companies (NBFCs) registered as housing finance companies (HFCs).

Home loans are provided to customers by nationalized banks and some non-bank finance companies (NBFCs) registered as housing finance companies (HFCs). All these institutions are regulated by the Reserve Bank of India (RBI). However, the interest rate on home loans charged by HFCs is higher than that charged by banks.

According to Finance Minister Nirmala Sitharaman, HFCs charge higher interest rates because they usually raise funds from the market or other lenders. In contrast, banks obtain funds at lower cost because they have access to foreign currency accounts and deposits in zero or zero interest savings accounts. The finance minister said so recently in a written response to a question posed to the Rajya Sabha.

The question asked for the government’s response on: “whether the government is aware that some Non-Banking Financial Corporations (NBFCs) charge about double the interest rate on home loans compared to nationalized banks of people residing in the levels 1,2 and 3 cities.

In response to the query, Sitharaman said, “As informed by the National Housing Bank (NHB), the interest rate charged by HFCs starts from 6.50% per annum As the Reserve Bank of India (RBI) has deregulated interest rates, rates are determined based on Board approved HFC policies. The interest rate charged to an individual borrower depends on various factors such as cost of funds for HFC and other variables which among others include borrower profile, credit history/score, stability income, loan amount, loan term, etc.

“NHB informed that the interest rate charged by these HFCs is generally higher than that charged by banks, as banks have access to current accounts and savings accounts at zero or low interest, which which results in a lower cost of funds for them, whereas HFCs typically raise funds from the market or other lenders,” she added.

The RBI guidelines, issued by circular dated February 17, 2021, cover the regulation of excessive interest charged and the code of fair practice for HFCs.

“In accordance with this circular, the board of directors of each HFC adopts an interest rate model taking into account relevant factors such as cost of funds, margin and risk premium and determines the interest rate to charge for loans and advances Interest rates and risk grading approach, and penalty interest should be disclosed to borrowers in the application form and in the sanction letter in addition to being available on their website web or published in newspapers,” Sitharaman said.

“Furthermore, HFCs have been asked to put in place an internal mechanism to monitor the process and operations to ensure adequate transparency in communications with borrowers,” she added.

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How finance companies can reduce EMI default risk on smartphone finance – IT news Africa https://savewesternoh.org/how-finance-companies-can-reduce-emi-default-risk-on-smartphone-finance-it-news-africa/ Fri, 03 Dec 2021 10:22:55 +0000 https://savewesternoh.org/how-finance-companies-can-reduce-emi-default-risk-on-smartphone-finance-it-news-africa/ [ad_1] Image from the Digital Frontiers Institute. In a dynamic world driven by innovation and automation, each sector, whether industrial or not, relies heavily on the latest technologies. Smartphones are one of the popular mobile devices that everyone wants to own. The relentless demand to buy smartphones and other mobile devices has given rise to […]]]>


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Image from the Digital Frontiers Institute.

In a dynamic world driven by innovation and automation, each sector, whether industrial or not, relies heavily on the latest technologies. Smartphones are one of the popular mobile devices that everyone wants to own. The relentless demand to buy smartphones and other mobile devices has given rise to proposals such as device financing.

Device financing allows users to spread their payment for the purchase of smartphones and other devices into smaller chunks that can be paid over a fixed term. This allows users to buy the latest devices despite their high costs without burning their pockets.

Who are the device funders?

Original equipment manufacturers (OEMs) or device resellers are typically the ones who act as funders and develop device financing programs for users. Such device finance companies allow users to split their wholesale payments into installments to be made over a set period of time. How device funders are different from device lessors is that after full payment is made, users can keep their funded devices permanently.

Why has device financing become popular?

Consider people in underserved areas who cannot afford expensive devices, or millennials and Gen Z who want to own the latest smartphones, funded devices that meet these requirements are a cost-effective method of purchasing. latest devices. Needless to say, funded devices gained popularity in no time. Funded devices not only pave the way for people, despite their economic status, to own devices like smartphones, but also;

  • Distributes the financial burden
  • Provides access to the latest technologies
  • Does not require full documentation

Challenges faced by businesses in lending funded devices to users

Rising prices for smartphones and other cutting edge devices have resulted in a massive shift in the population towards purchasing funded devices. The boom in adoption of funded devices poses some challenges for finance companies such as;

  • Management of a large pool of funded devices: Device financing is more than just lending devices to users. This involves managing the fleet of devices, tracking payments, and more, which can be a tedious and time-consuming task for finance companies.
  • Late payments and EMI fraud: In the event of a user’s inability to pay installments on a timely basis, collecting overdue payments is a hectic chore that every finance company struggles with.
  • Risk of theft of the device: Incidents of loss or theft of funded devices can result in significant losses for device funders due to the difficulty of locating and recovering lost or stolen devices.

How can device finance companies tackle the risk of EMI fraud?

While funded devices have proven to be extremely beneficial for their consumers, the risks and challenges they present for device funders are numerous. Device finance companies, OEMs and resellers, have started to trust payment security solutions that help them secure their funded devices.

NuovoPay is one such security solution that helps device finance companies lend their devices with confidence and effortlessly manage the tedious payment logs of their funded device fleets. Let’s take a look at some of the benefits that NuovoPay offers to protect funded devices.

  1. Remote mobile locking technology
    One of the most apparent concerns that device funders face is the risk of their funded devices being stolen. NuovoPay offers a remote device locking feature that allows funders to block user access to their devices in the event of theft or default.
  2. Automated payment reminders
    Device finance companies can timely define automated payment reminders which can be set for bulk devices which alerts users of their next installment. This negates the chances that users and funders lose track of their recurring payments and results in a higher ratio of one-time payments from users.
  3. SIM based lock
    Several device manufacturers or resellers who finance devices partner with telecommunications service providers to offer devices preinstalled with SIM service. Payment and service systems for these bundled devices include telecommunications pricing plans in addition to periodic device payments.

However, it also comes with the risk that users will replace the preinstalled SIM card with a cheaper alternative. NuovoPay offers security not only towards the financed device but also for the telecommunications operators with its SIM card based lock functionality.

If users attempt to remove the pre-integrated SIM card from the device, the device blocks the user’s access to it, rendering the device unsuitable for further use.

4. Option to integrate invoicing system providers

NuovoPay enables device finance companies to integrate leading billing system software into its dashboard to simplify complex tasks and help finance companies de-clutter their payment records. With this, monitoring payment status, tracking receipts and inventory details of a large fleet of devices can be done effortlessly.

Closure lines

Nuovopay acts as a collection agent to help device funders secure their funded devices using a centralized dashboard that gives them an overview of multiple funding plans, payment statuses and protect their devices from theft and fraud. In this way, vendors can move from manual and time-consuming methods of tracking inventory records and payment follow-ups to an automated platform to efficiently organize their device funding model.

Schedule a free live demo here and get all your questions answered.


By the editor.

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Housing finance companies: HFCs urge RBI to remove strict asset classification guidelines https://savewesternoh.org/housing-finance-companies-hfcs-urge-rbi-to-remove-strict-asset-classification-guidelines/ Thu, 02 Dec 2021 08:00:00 +0000 https://savewesternoh.org/housing-finance-companies-hfcs-urge-rbi-to-remove-strict-asset-classification-guidelines/ [ad_1] Mumbai: The Association of Housing Finance Companies (HFC), the umbrella body for all mortgage lenders, called on Reserve Bank of India Governor Shaktikanta Das and National Housing Bank to remove strict asset classification guidelines recently announced. In a two-page letter, HFCs said the new rules would force a borderline borrower to slip into the […]]]>


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Mumbai: The Association of Housing Finance Companies (HFC), the umbrella body for all mortgage lenders, called on Reserve Bank of India Governor Shaktikanta Das and National Housing Bank to remove strict asset classification guidelines recently announced.

In a two-page letter, HFCs said the new rules would force a borderline borrower to slip into the NPA category, ending payments altogether. Under the new RBI rules, loan accounts can only be upgraded to the NPA “standard” if all interest and principal arrears are paid by the borrower.

“Once a borrower is actually in default of more than 3 IMEs, it is very difficult for them to pay all the overdue IMEs at once and update the account,” HFC said in the letter. “In our experience, borderline borrowers go out of their way to pay for an IME, if only to avoid being classified as an NPA.

HFCs said the new rules would put additional pressure on their capital and lead to higher refinancing costs.

“Even with monthly cash flow and improved loan-to-value ratios, the financial system will end up showing higher NPA levels in an artificial and avoidable way, which will put increased pressure on lender capital,” said mortgage lenders. “All refinancing institutions will ask for more margins to cover the refinancing or ask us to exclude the APN and loans owed from the portfolio offered as collateral, even if the account is mobile.”

Lenders have also argued that since these overdue borrowers will need to be reported to credit reporting bureaus as NPAs, this will cripple them, forcing the borrower into long-term default.

Currently, all 90 Day Past Due Loans (DPDs) should be treated as NPAs. If the borrower brings their loan account below 90 DPD status, non-bank lenders treat the account as a standard asset even though the account may still have past due IMEs. The new RBI rules require NBFCs to treat these accounts as NPAs until the borrower updates the account to pay any IMEs owed.

The banking industry follows an automated system of marking accounts as NPA, under which accounts are marked as NPA on the day the account becomes more than 90 days past due. However, in many NBFCs this ranking is done after the 90 or 180 days have passed.

In general, many non-bank lenders improve NPAs because overdue accounts are reduced to less than 90 days, while banks don’t upgrade an NPA until all overdue amounts are collected. With these changes, standards have become largely congruent between banks and NBFCs.

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Soft skills that help elite men get jobs in finance https://savewesternoh.org/soft-skills-that-help-elite-men-get-jobs-in-finance/ Tue, 30 Nov 2021 17:10:37 +0000 https://savewesternoh.org/soft-skills-that-help-elite-men-get-jobs-in-finance/ [ad_1] If you are trying to get a banking and finance jobs, but you’ve never skied, don’t know anything about the Hamptons, and think Gstaad is some kind of cheese, you might be at a disadvantage. While banks are now doing their best to open up recruiting to the widest range of candidates possible, historically […]]]>


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If you are trying to get a banking and finance jobs, but you’ve never skied, don’t know anything about the Hamptons, and think Gstaad is some kind of cheese, you might be at a disadvantage. While banks are now doing their best to open up recruiting to the widest range of candidates possible, historically at least there has been a well-documented tendency to hire professionals. upper middle class, in particular for roles in direct contact with the client. In London. 90% of people holding positions of responsibility in finance still come from higher socio-economic backgrounds. – The hangover is real.

If you don’t have an upper-middle-class education, a new study from the University of Bergen in Norway identifies soft skills that serve as selection criteria for being hired and promoted to elite positions. These are the skills you need both to cultivate and to signal on Your CV.

Soft skills play a “substantial role” in hiring a “top-class” job, says Lisa MB Sølvberg, professor of sociology at the Norwegian University of Bergen. “Technical skills are not enough to reach a top-class position,” she adds, noting that as university attendance has increased, soft skills have become an increasingly important differentiator – and that good many of the soft skills required overlap with the behavioral traits of the upper middle class.

Sølvberg analyzed the language used in 150 job postings in three key industries and extracted the skills that tacitly determine whether you get the job. She looked at the cultural sector (e.g. publishers, directors of cultural institutions, cinema, higher education), she looked at the professional sector (e.g. doctors, dentists, lawyers), and she focused on the “economic” sector (eg CFOs, Vice-Presidents, Compliance Officers, COOs).

In the economic sector, a few key skills stood out.

Soft skills for economics and finance:

Companies in the economic sector favor traits of authority, explains Sølvberg. Yes, applicants need the right etraining and professional experience, but they also need the following, more nebulous faculties. –

  • ggoal oriented and results oriented. – Unlike other sectors, jobs in the Economic Area are all tangible jobs, and you will have to show that on your resume, Sølvberg explains. You will also need to show that you can ‘improve and develop’ both a team and yourself.
  • High energy. – The recruiters of economic jobs want “go-getters”. You must show that you are “ambitious, efficient, motivated, offensive and innovative. “
  • Social cooperation. Being bossy doesn’t mean being aggressive. To be successful in an elite economic role, you will also need to demonstrate good networking skills, be “enthusiastic and energetic, social and sociable, and have cooperative and communication skills. “
  • Structured hard work. Sølvberg found that elite economic jobs also require applicants to demonstrate an appetite for structured hard work. You must demonstrate a great capacity for work, excellent time management and strong analytical skills.

Soft skills in other sectors

Sølvberg highlights the contrast between the soft skills required for economic jobs and the soft skills required elsewhere.

In the professional sector, for example, the emphasis is more on being dedicated, autonomous, responsible and having a high level of personal aptitude. In the cultural sector, the emphasis is more on coaching employees to achieve a common goal (in addition to being hardworking, analytical, vigorous, independent and again having a high level of personal skills).

Sølvberg notes that gender disparities tend to be reinforced by different job descriptions. – “Personal aptitude “is valued much more in female-dominated industries, while male-dominated industries like finance are more likely to value business understanding, strategic thinking, analysis, innovation, vigor, ambition and confidence.

Sølvberg’s mission is to make observations rather than recommendations, but if you are applying for a job in finance, it may be worth considering how your application reflects its findings. – Do you demonstrate the skills indicated in the points above? Even if they are not explicitly required in the job description, it may be worth incorporating them into your CV.

You might also want to talk about exercise. In a previous study, Sølvberg found that male members of elite classes were very physically active and displayed “negative attitudes” towards people who did not exercise. They didn’t display these negative attitudes initially, but they did show up within 15 minutes of their conversation.

photo by Roland samuel to Unsplash

Contact: sbutcher@efinancialcareers.com first. Whatsapp / Signal / Telegram also available (Telegram: @SarahButcher)

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