Money & Banking
Securitisation of loans key to develop small banks: Moody's
New Delhi : While non-banking finance companies (NBFCs) in India will continue to fund through securitisation, the practice of pooling of loans will be key for developing small finance banks, Moody's Investors Service said on Thursday.
 
"Securitisation will continue to be instrumental for these small Indian finance banks, as it will take time for them to develop a retail deposit franchise," the American agency said in a report here.
 
Securitisation involves pooling of financial assets or loans together to create a new security, which is then sold to investors.
 
"At the same time, NBFCs and MFIs (micro-finance institutions) will continue to fund through securitisation as the sector grows," Moody's said.
 
The Reserve Bank of India in September 2015 granted in-principle approval to 10 entities, including eight MFIs, to operate as small finance banks.
 
"With the aim of promoting financial inclusion to the under-served segment, the small finance banks will accept deposits and extend credit to marginal farmers and small business units. Their mandate overlaps with the target market of MFIs," the report added.
 
In both India and China, NBFCs are key providers of credit to individuals and small businesses that would otherwise have limited access to bank loans or would incur high interest for such loans, Moody's said.
 
"While there are various funding avenues open to the NBFCs in India and China, securitisation has proven to be reliable and competitively priced, and is therefore an important source of the funds the NBFCs use for lending," said Moody's assistant vice president Georgina Lee.
 
According to the US consultancy firm, the development of domestic securitisation markets will help both India and China achieve the objective of financial inclusion.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

User

Sabarimala shrine rid of over 670 tonnes of waste
Pathanamthitta (Kerala) : A cleanliness drive at Sabarimala has rid the shrine of over 670 tonnes of organic and plastic waste left behind by pilgrims.
 
Pilgrims visiting the Sabarimala temple - dedicated to Lord Ayyappa and located on the river bank - believe that shedding clothes in the Pamba river helps them wash off their sins. However, the river is polluted in the process. 
 
The 60-day cleanliness drive called 'Mission Green Sabarimala' was launched by the Pathanamthitta district administration to keep the temple situated in the Periyar Tiger Reserve free of plastic and litter. 
 
During the campaign that concluded on Thursday, PET bottles and other plastic waste collected from Sabarimala and in and around the Pamba river were transported out by Chris Global firm. 
 
According to official sources, 622 tonnes of organic matter was collected by hundreds of volunteers and 800 cleaning staff from Sabarimala for incineration. 
 
Over 48 tonnes of plastic bottles were also collected during the two-month pilgrimage for recycling. About 35 million devotees visit the temple during the 60-day pilgrimage from November 15 to January 15.
 
Kudumbashree Mission volunteers, Kerala's largest women's self-help group, and forest department officials collected 1.8 tonnes of plastic through a road campaign whereby vehicles were intercepted to exchange plastic bags and bottles with environment-friendly cloth bags on the Pathanamthitta-Sabarimala route. 
 
Every pilgrim to the Sabarimala shrine leaves behind at least 250 gm plastic. Last year alone, 8,750 tonnes of plastic waste, including water bottles, food wrappers, use-and-throw raincoats, carry bags and the like were dumped in the area. The 1,500-year-old temple thus faces a major environmental threat.
 
Apart from Kerala government agencies like the Suchitwa Mission, 'Mission Green Sabarimala' is supported by Kudumbashree and corporates like Hindustan Coca-Cola Beverages Pvt. Ltd.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

User

Government to launch action plan for consumer protection
New Delhi : The government will launch a six-point action plan for consumer awareness and protection on World Consumer Rights Day on March 15, union Minister Ram Vilas Paswan said on Thursday.
 
The plan includes jointly developing with the industry, and implementing, standards for grievance redress. 
 
Under the plan, all industry associations and their members need to partner with national consumer helpline and state consumer helplines, the minister for consumer affairs, food and public distribution said.
 
“As per the new plan, joint awareness campaigns will be launched and the corporates required to earmark a portion of the corporate social responsibility funds for consumer welfare activities,” Paswan said.
 
“Also, action will be taken against fake, substandard and counterfeit products,” he added.
 
The government has already introduced the Consumer Protection Bill 2015 in the Lok Sabha that proposes to create a Central Consumer Protection Authority to investigate unfair trade practices and check misleading advertisements, initiate action and order recall or replacement of defective products. 
 
The Bill will also include e-commerce in its ambit.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

 

User

COMMENTS

MG Warrier

1 year ago

Consumer protection can happen only in a situation the consumer is aware about his rights and easily enforceable legislation is in place. At the present level of literacy, 50 per cent of India’s population is either ignorant about consumer rights or ‘do not care’. The first category is the poor people who are totally unaware of the costs and prices, who buy products at MRP. The second category comprise people who can afford to pay more because they are rich.
Today, the other half, to which moneylife readers belong are a confused lot and debate issues in isolation. Scholars, economists and politicians mislead us by arguing ‘cases’ from a theoretical angle. They frequently change roles. Sometimes they will feel helpless about absence of laws, sometimes they will argue about ‘market economy’ and at other times they will tell you, in the given circumstances, if you want the product or service, pay what the seller or service provider demands!

manoharlalsharma

1 year ago

Government to launch action plan for consumer protection./ we r not interested to implementation but interested in result.we have pass many decades but resulted ZERO.

Ganesh Kamat

1 year ago

1) For Big Tax collections,
take 1% Tax from 20 Taxpayers,
than 20% Tax from one Taxpayer.

2) Simple Tax of 1% on Receipt /Transaction /Interest /Sale
/Gift /Loan /Benefit /Salary /Dividends /Rent /Custom.....
any & all inward cash, Cheque etc.

3) Average say on Rs. 30 L Receipt,
Pay Rs. 0.3 Lac Tax per year.
If Taxpayers = 60 Cr.
Tax collection will be 18 L- Cr.

4) Simple Tax means more Taxpayers, more collection & No refund Problem.

5) At present, we have say @ 3 Cr Taxpayers,
with Collection of say @ 3.5L-Cr,

6) So with 1% Tax, the Taxpayers will work to improve Business / Goods Services/
R.& D./ Social work.So more Employment, make in India, less Farmer Suicide &
Peace of mind to the people.

7) Bank Account number is your mobile number.

8) Tax payment by your mobile number @ RBI a/c,
In bank transaction, the Bank will deposit your 1% Tax by your mobile number @ RBI a/c directly.

9) For cash Transaction pay similar to Post paid Mobile charges,
to your mobile number @ RBI a/c.
Most will pay if the Tax is 1% & simple to pay.

10) Your Bank Account Number should be mobile number & connected to PAN/ AADHAAR /Passport/ Election Card etc.
For Simplicity.

11) Tax collection will be distributed to State & Local bodies, say 10% each, from the place of collection.

12) Also add 1% more (L.P.F.)
Less Privilege Fund,
similar to PPF for,
social / self benefit,
to give Power to the people for Social Cause / in your bad days.

13) In short Pay Rs. 20- for every Rs. 1,000- Received.

i) Rs. 10- as tax to RBI
ii) Rs. 10- in your (L. P. F.) a/c. Could be use for social cause/ for your bad days.

14) L. P. F. (Less Privilege Fund)
of 18 L- Cr, with 60 Cr voters, will reduce dependency on the Government for the Social development.
Fund will be used for the Social cause / in your bad days.

15) Keep faith in 60 Cr voters, as they will take care of their neighbours, in need.
Also most will pay, if Tax is 1? & Simple to pay.
Only Indian can make better India.

16) Can consider more tax for Higher Receipt, say above 0.5 Cr per year, payable at the year ending.

17) All Transactions are Traceable as mobile number is once Bank a/c number & connected to PAN/ AADHAAR
/ Election card.....
So, No Corruption & Black Money Problem.

18) Babus Harassing the youth,
Traders, Voters.. who wants to work.
Babus are ruthless as they
pay "Protection Money" to......?
for Posting/ Promotion/ Permit...
Administrations Reform is a Must.
For getting Votes.

19) Farmers suicide can get reduced, by encouraging them to sell their farm products on Railways to commuter
& roads to motorists, also we need more Passenger Train, to help farmers to sell farm products, to nearby Towns.

20) Expecting Feedback on How to make India Peaceful Place by Refined, Simple Laws.
No blame game please.
Media/ Babus /Netas /Judicial Role is Eminent along with People.

For "Sare Jaha Se Achha Hindustan Hamara." forward this message.

REPLY

Anand Vaidya

In Reply to Ganesh Kamat 1 year ago

Very good list. Also Rs 1000, 500 and later Rs 100 notes should be withdrawn. All transactions by online mode only

We are listening!

Solve the equation and enter in the Captcha field.
  Loading...
Close

To continue


Please
Sign Up or Sign In
with

Email
Close

To continue


Please
Sign Up or Sign In
with

Email

BUY NOW

The Scam
24 Year Of The Scam: The Perennial Bestseller, reads like a Thriller!
Moneylife Magazine
Fiercely independent and pro-consumer information on personal finance
Stockletters in 3 Flavours
Outstanding research that beats mutual funds year after year
MAS: Complete Online Financial Advisory
(Includes Moneylife Magazine and Lion Stockletter)