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Indian Mining And Construction Equipment Industry: Monthly Updates: May2017        Indian Hotel Industry:May 2017: Monthly Updates        Definitive anti-dumping duty on hot-rolled and cold-rolled products likely to create a more stable operating environment for domestic flat steel players        Pace of volume growth slackened in a majority of sectors in April 2017, as pressure to meet year-end targets waned        GST Council’s decision on rate fitment for most goods and services paves way for GST implementation on July 1, 2017        New series indicates an improvement in industrial growth to 2.7% in March 2017 from 1.9% in February 2017        CPI inflation eased sharply to lower-than-expected 3.0% in April 2017, with broad-based dip in food inflation        New series indicates that WPI inflation recorded broad-based easing to 3.9% in April 2017 from 5.3% in March 2017        Indian Automobile Industry: Automobile Sales Update – April 2017: Monthly Update        Indian Automobile Industry – Two Wheelers: Two Wheeler Sector Posts Healthy Growth; Motorcycles Segment Turns Around After Five Month Of De-Growth Despite Higher Sales In March 2017 When Industry Was Transitioning To Bsiv Emission Norms: Monthly Update       
 
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Indian Mining And Construction Equipment Industry: Monthly Updates: May2017
Indian Hotel Industry:May 2017: Monthly Updates
Definitive anti-dumping duty on hot-rolled and cold-rolled products likely to create a more stable operating environment for domestic flat steel players
Indian Tractor Industry – Monthly Update
More...
 
FINANCIAL SECTOR RATING

ICRA’s Financial Sector Debt Ratings cover entities like Banks and Financial Institutions, Non-Banking Finance Companies (NBFCs) and Housing Finance Companies (HFCs). While all of these entities perform the same function of leveraging own funds and lending to others on a cost-plus basis, there are significant differences between them in terms of scale of operations, products and services offered, product delivery, regulatory requirements, and internal control systems. Moreover, the risk profiles of these type of entities can be quite varied. Depending on their requirement and ability to borrow the funding mix of these entities vary significantly, and include term loans, debentures, public deposits, working capital demand loan, cash credit from banks, commercial paper, and Mibor-linked loans, among others.

While NBFCs and HFCs flourished in the Indian subcontinent initially on account of regulatory differentiation, in the current scenario, there is a significant overlap between the business areas of HFCs and NBFCs on the one hand and with that of Banks and Financial Institutions on the other. ICRA’s ratings factor in the gamut of risks that can possibly affect the operations of a finance company: operating risks, financial risks, and management risks. The key determinants of operating risk include volatility in revenues and expenses, regulatory risks, risk of administrative expenses going out of hand, and risk of deterioration in asset quality. Financial risk, on the other hand is driven by capital adequacy, asset liability management, solvency, financial flexibility, and also accounting quality. Management risks cover the subjects of management quality and efficacy of systems.

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