Is TLTRO 2.0 just another tongue twister for NBFCs ?

TLTRO 1.0 did little to reduce the concerns of the NBFC segment which has been reeling under huge ALM stress. More than 80% of the one lakh crore capital raised by banks under the scheme went to either quasi government entities or to large AAA private corporates. Remaining was absorbed by large manufacturing corporates or large AA rating category NBFCs. Virtually nothing trickled down to smaller financial institutions who have been hit hard by the Covid-19 crisis. TLTRO 2.0 announced […]

Flat Year for Indian Securitisation Market

Indian Pass Through Certificate (PTC) market has been garnering lot of interest from investor community, both domestic and global, after registering ~105% year on year growth in FY2019 as compared to FY2018.

FY 2020 was full of ups and downs for the market – first half of the year was exceptional with the market clocking in more than INR 40,000 Crs . Hence, it was widely expected that market may cross cumulative volumes of one lakh crore for the year. However, Q3 and Q4’FY20 turned out to be sluggish and the market closed the year with cumulative annual volumes of only INR 69,000 Cr (the same was INR 70,000 Cr in FY 19).

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