With a view to provide additional liquidity to crisis-ridden NBFCs and housing finance companies (HFCs), the government on Monday relaxed norms for Partial Credit Guarantee Scheme (PCGS) for purchase of bonds and commercial papers by public sector banks and extended its period by three months.Keeping in view the progress under the Scheme and the fact that the stipulated limit for AA/AA- rated bonds/CPs (commercial papers) has been nearly reached, while the appetite for lower rated papers is nearing saturation considering their lower ticket size, the government has now decided to modify PCGS 2.0."Additional 3 months have been granted to build up the portfolio. At the end of six months, i.e. by November 19, 2020, the portfolio shall be crystallised based on actual amount disbursed, for the Guarantee to come into effect," a finance ministry statement said.At the portfolio level, AA and AA- investment sub-portfolio under the Scheme should not exceed 50 per cent of the total portfolio of … [Read more...] about Government eases credit guarantee scheme norms for stressed HFCs
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Innoviti has tied-up with Visa to create a platform where issuers can extend credit to their cardholders at a physical point of sale in India. By leveraging Innoviti’s uniPAY Next platform and Visa’s APIs, a platform for face-to-face transaction is developed where shoppers could choose how they pay during purchase.With the help of a single API-based integration, the installment platform offers merchants with installment solutions at point of sale by leveraging cardholders’ existing relationship with financial institutions providing a frictionless payment experience thereby enhancing the sales and customer loyalty.Innoviti said, the installment solution will be useful for banks to rectify challenges such as reconciliation, settlement, dispute management and scheme design flexibility. Initially, the platform will be installed for one bank enabling key electronic merchant chains on Innoviti’s platform. Afterwards, the solution will further extend to other banks, … [Read more...] about Innoviti and Visa tie-up to enable issuers to extend credit at PoS
TestsWicketsBestAverageStrike Rate5WI10WM Muttiah Muralitharan 73 493 9/51 19.56 50.83 45 15 James Anderson 89 384 7/42 23.83 50.23 22 3 Anil Kumble 63 350 10/74 24.88 59.41 25 7 Stuart Broad 82 334 8/15 25.54 50.09 13 3 Shane Warne 69 319 8/71 26.39 60.87 15 4 Glenn McGrath 66 289 8/24 22.43 54.77 11 2 Rangana Herath 49 278 9/127 23.65 51.34 26 7 Harbhajan Singh 55 265 8/84 28.76 64.11 18 4 Dale Steyn 52 261 6/8 21.62 40.21 16 3 Ravi Ashwin 43 254 7/59 22.80 49.43 21 6 Mkhaya Ntini 53 249 6/59 24.04 45.24 12 2 … [Read more...] about Is Jimmy the Sachin of fast bowling?
PayU, one of the leading payment and fintech company in India has decided to acquire significant majority equity stake in PaySense, one of the fastest growing digital credit platform for an equity value of $185 million. Siddhartha Jajodia, Global Head of Credit, PayU said that, “The two stage transaction involved PayU buying out all the existing financial and angel investors of PaySense. It merge its lending business Lazypay with it (PaySense) and will also infuse $200 million in PaySense in the next 24 months that includes $65 million immediately, taking the deal size to over $300 million or more than Rs 2,100 crore.” “The company plans to merge their business operations to build a full-stack digital lending platform in India,” Jajodia said.On the complete consummation of the deal over the next 24 months, PayU will have about 80% stake in the merged entity. Currently, PayU owns about 20% stake in PaySense. As a part of the deal, Prashanth Ranganathan, the … [Read more...] about PayU acquires digital credit platform PaySense
"The Sydney authorities wanted it to be a place where people lived and worked and there was a lot of activity and they succeeded in that," he said. … [Read more...] about From factories to the fast-lane: How the Sydney Olympics transformed Homebush