Bank of Baroda down 1% post report of Rs 3,000 cr loan purchase from DHFL


READ MORE




Shares of Bank of Baroda (BoB) slipped 2 per cent to Rs 120 every in a early morning trade on Monday after reports flush a state-run lender has entered into a transaction with Dewan Housing Finance Corporation(DHFL) to buy loans value Rs 3,000 crore opposite a bearing to a non-bank lender.


At 09:50 am, a batch was trade scarcely a per cent reduce during Rs 121 every on a BSE while shares of DHFL were statute during Rs 71, down one per cent. On a other hand, a benchmark SP BSE Sensex was trade 245 points or 0.62 per cent aloft during 39,639 levels.



“BoB acquired a pool of loans done by DHFL and practiced it opposite a loans to a non-bank lender.


Since a acquired loans are higher-rated assets, a peculiarity of BoB’s loanbook will improve,” Mint reported on Monday citing sources.


Since BoB had an bearing of tighten to Rs 6,500 crore to DHFL, this will be pared by a small reduction than Rs 3,000 crore, a news added.


News group PTI had reported on Friday, quoting SBI Chairman Rajnish Kumar, that lenders will take a call on their bearing to a stressed NBFC zone in light of a Reserve Bank’s Jun 7 round that has laid discipline for fortitude of bad loans. DHFL had an superb debt of around Rs 1 trillion during a finish of December. Of that, 38 per cent are bank loans, with SBI carrying a top exposure. CLICK TO READ FULL REPORT


Moreover, a lenders of a uneasy NBFC DHFL are scheduled to accommodate on Monday, seeking a resolution for a Rs 90,000 crore debt that is due to them, Business Standard reported. The consortium of 30 lenders led by state-run Union Bank of India, that includes banks and other financial institutions, might also cruise acclimatisation of debt into equity that can make them a largest shareholder in a debt lender, sources pronounced over a weekend. CLICK TO READ FULL ARTICLE


“Out of a total volume of Rs 375 crore, Rs 150 crore i.e. 40 per cent has been paid on a proportional basement and a change volume of Rs 225 crore shall be paid in a subsequent integrate of days,” it had said.




Article source: http://www.fifa.com/worldcup/news/mbappe-messi-cavani-and-schmeichel-star

Comments

Popular posts from this blog

A Photographer Who Tours With Beyoncé and Jay-Z

How Jewish Elites Infiltrated US Protestants, Creating a Powerful Pro-Israel Lobby Among Gullible Evangelicals

WeWork Considers Rescue Plans From SoftBank and JPMorgan