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CII seeks reforms in Indiaโs priority sector lending framework
Livemint
ยท
7m ago
Medial
The Confederation of Indian Industry (CII) has proposed reforms to India's Priority Sector Lending (PSL) framework, suggesting the inclusion of emerging sectors such as digital infrastructure, green initiatives, healthcare, and innovative manufacturing. The CII also proposed setting up a committee to review PSL norms and consider the need for new Development Finance Institutions (DFIs) to cater to these sectors. The PSL policy is aimed at providing adequate financial support to key sectors for the nation's development, ensuring equitable credit distribution and socioeconomic growth in underserved areas.
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iSPIRT unveils priority sector lenders' body, to help small businesses
YourStory
ยท
6m ago
Medial
iSPIRT has formed the Priority Sector Lenders Association of India (PSLAI) with members like UGRO Capital and IIFL to enhance loans under Priority Sector Lending norms. Focusing on sectors like MSMEs, PSLAI aims to double credit in this sector to Rs 130 trillion within 3-5 years through digital infrastructure and policy support. Led by Priyashmita Guha, PSLAI seeks to reform policies and unite stakeholders to address PSL challenges.
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RBI eases priority lending norms for SFBs, unlocks Rs 41,000 cr for low-risk sectors
Economic Times
ยท
1m ago
Medial
The Reserve Bank of India has eased priority sector lending norms for small finance banks (SFBs), lowering the target from 75% to 60% of adjusted net bank credit. This regulatory change is expected to free up approximately โน41,000 crore, allowing SFBs to redirect funds towards low-risk segments like housing finance. The move aims to help SFBs rebalance their portfolios amid rising non-performing assets and opens opportunities to sell Priority Sector Lending Certificates for better portfolio management.
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Karnataka Bank, Clix Capital enter into a co-lending partnership through Yubi Platform
OutlookIndia
ยท
1y ago
Medial
Private sector bank Karnataka Bank and non-banking financial company Clix Capital have formed a strategic digital co-lending partnership. Their collaboration aims to provide loans to the Indian MSME sector in accordance with RBI guidelines on co-lending to priority sectors. Karnataka Bank will bring its digital capabilities, while Clix Capital will provide its lending tech platform. This collaboration will offer affordable liquidity to the MSME sector and assist in its sustainable economic growth. Clix Capital specializes in offering lending solutions to India's SME sector through various financial products.
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Nod for voluntary gold pledge may give a boost to micro and agri sector lending
Economic Times
ยท
14d ago
Medial
The Reserve Bank of India's decision to permit voluntary pledging of gold for loans up to โน10 lakh aims to enhance priority sector lending in agriculture and micro enterprises. Though banks generally offer these loans without collateral, borrowers often choose to pledge gold to avoid the complexities of collateral-free loans. This change allows banks to categorize such loans as agricultural, potentially boosting compliance with priority sector targets while facilitating easier access to credit for small and marginal farmers.
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Fintech leaders seek tax breaks, AI incentives, and digital lending reforms in Budget 2025
YourStory
ยท
6m ago
Medial
Ahead of the Union Budget 2025, fintech leaders are urging for reforms to solidify India's fintech position. They seek tax breaks, AI incentives, and digital lending reforms to bridge the credit gap, particularly for MSMEs, and enhance financial inclusion. Calls for regulatory measures and R&D support are emphasized, alongside the importance of digital infrastructure enhancement. Leaders also desire initiatives in green finance and digital payment incentives, aiming for transformative growth in the sector.
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Uday Kotak flags critical banking risk
Business Today
ยท
4m ago
Medial
Uday Kotak warns of a critical banking risk arising from banks borrowing at higher rates, around 9%+, while lending at lower rates, about 8.5%, especially after accounting for obligations like Cash Reserve Ratio (CRR), Statutory Liquidity Ratio (SLR), deposit insurance, and priority sector lending requirements. This scenario poses a mismatch in marginal deposit costs versus lending returns, potentially impacting the banks' financial health and sustainability amidst operational expenses not being accounted for.
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India considering EVs for priority sector lending, official says
Reuters
ยท
1y ago
Medial
India's finance ministry is considering a proposal to include electric vehicles (EVs) under the Reserve Bank of India's priority sector guidelines. This move aims to make it cheaper to raise funds for EVs and promote their wider adoption. Currently, priority sector lending guidelines require banks to allocate 40% of their loan book to specified sectors, and including EVs would reduce the cost of finance for them. The proposal was made by the power ministry and will be discussed with the RBI.
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MSME fintechs steal show as consumer lending loses fizz
Economic Times
ยท
1y ago
Medial
Digital lenders focused on unsecured small business loans are gaining traction as regulatory actions and changes in macroeconomic conditions make unsecured consumer loans less appealing. Companies such as Indifi, Lendingkart, Aye Finance, and Kinara Capital are expected to benefit in the MSME lending space. Large private banks are collaborating with fintechs to tap into the underbanked unsecured business credit market. The simplification of MSME registration allows banks to classify these entities easily for priority sector lending. Delinquency rates have dropped, prompting lenders to shift focus to the MSME sector. Challenges include the need for physical KYC and the cost it incurs for digital lending operations. However, fintechs in this space are showing stronger financials, attracting traditional lenders for co-lending partnerships.
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Demand for creation of new NBFC-PSL category in Budget to boost MSME sector
YourStory
ยท
1y ago
Medial
Business leaders have put forth their demands for the Union Budget, including the establishment of a new category of Non-Banking Financial Companies (NBFCs) dedicated to priority sector lending (PSL) for Micro, Small, and Medium Enterprises (MSMEs). The CEO of UGRO Capital Ltd, Shachindra Nath, suggested creating an NBFC-PSL category that focuses at least 85% of its assets under management on the priority sector. He also called for the reintroduction of the Partial Credit Guarantee Scheme and the harmonization of the SARFAESI Act limit. Other demands include continued emphasis on infrastructure development and the revival of the interest subvention scheme for exporters.
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India Inc Backs Government, Sees Limited Economic Impact Amid Indo-Pak Tensions
OutlookIndia
ยท
2m ago
Medial
India Inc supports the government amid India-Pakistan tensions, with CII President Sanjiv Puri expressing confidence in the economic resilience and strength of fundamentals. Despite potential short-term impacts, Puri emphasizes the robustness of supply chains and limited dependency on trade with Pakistan. Foreign investment might see cautiousness, but with India's strong economy, reforms, and trade agreements, any impact should be brief. India's national security efforts aim to enhance economic progress, Puri notes.
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