Tuesday, September 08
Brands and retailers are flagging some restrictions on the hitherto easy availability of consumer finance ahead of the festive season, especially for consumers who have multiple loans and are staying in localities with high default rates.Banks and non-banking finance companies (NBFCs) are not giving easy credit to such consumers as they want to control loan loss and improve credit quality, instead of just pursuing volume, they said. This, industry executives said, is affecting their business.Tata Group AC manufacturer Voltas' chief financial officer, KV Sridhar, told analysts this month that the consumer durables sector was experiencing headwinds, including tightening of credit flow.123570167In Karnataka, NBFCs have completely blocked over 700 localities, including more than 200 in Bengalu
French multinational bank Societe Generale on Thursday bought over 31 lakh shares worth Rs 79 crore in RBL Bank via bulk deals. The shares were bought at a price of Rs 250.57 apiece which was a 2% discount over the Tuesday closing price.Shares of RBL Bank today ended at Rs 253 on the NSE, declining by Rs 2.40 or 0.94% amid weak market sentiments. Indian headline indices ended with sharp cuts on Thursday as US tariffs and monthly expiry weighed on the markets. The sell-off was seen across the board while more prominent in banks, IT and FMCG stocks. While Nifty fell 211.15 points or 0.85% to close at 24,500.90, the 30-stock S&P BSE Sensex finished at 80,080.57, declining by 705.97 points or 0.87%. RBL Bank witnessed a couple of bulk deals today. In one, Societe Generale bought over 32.78
