The Reserve Bank of India's rate-setting panel on Wednesday began its three-day deliberations on the next bi-monthly monetary policy amid expectations of at least a 35-basis-point hike in the interest rate to check high inflation. If raised, it will be the third consecutive hike in the repo rate -- the short-term rate at which the RBI lends money to banks. The central bank has already announced to gradually withdraw its accommodative monetary policy stance.
'The market has picked up for commercial vehicles. We are very close to pre-pandemic levels.'
Shriram Transport Finance plans rights issue.
But the industry's chief executives remain confident of the long-term growth potential of NBFCs in India, given their specialised lending on the asset side, last-mile reach, and a well-capitalised balance sheet. "Over the years, NBFCs have faced many crises.
The issue also underscores the growing scrutiny by investors and voting advisory firms of the performance of board members.
With liquidity crunch hitting operations, many finance companies have put the brakes on sanctions in the third quarter in the aftermath of the IL&FS crisis.
An initial reading of the guidelines indicates two factors - potential rise in borrowing cost and lower returns on investment book - could hit the spread of NBFCs.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
BHEL down around 2.4% and Bharti Airtel down around 1.6% were other major losers.
Ajay Piramal bets highly on infrastructure, realty
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