Page 238 - Finance News

Peer-to-peer (P2P) lending: What is it, and who regulates it in India?

Peer-to-peer (P2P) lending is the practice of lending money to individuals or businesses through online services that match lenders with borrowers

Rupee appreciates 2 paise to 83.35 against US dollar in early trade

Forex traders said investors remained on the sidelines ahead of the Reserve Bank of India's monetary policy decision later this week

Murky use of private credit funds may invite harsh regulatory scrutiny

Investors who pooled money were issued senior securities, earning them interest

71 show cause notices issued to online gaming firms involving GST: FinMin

No overseas online gaming companies have registered in the country since October 2023, Chaudhary added

RBI reins in peer-to-peer lending practices after finding rule violations

They added that some lenders had already begun halting certain services and practices in line with the central bank's guidance, while failure to comply could risk future penalties or restrictions

21,791 fake GST registrations, tax evasion of Rs 24,000 cr detected: FM

Sitharaman also said that considering the special nature of e-commerce operators, a simplified procedure for registration of e-commerce operators has already been notified

Banks write off Rs 10.5 trn in 5 yrs, NPA recovery worth Rs 7.1 trn: FinMin

Karad said banks regularly evaluate the impact of write-offs as part of the exercise to clean up their balance sheet, avail tax benefit and optimise capital

Vested expands alternative assets portfolio, adds P2P lending, bonds

Vested offers a curated selection of listed corporate and govt bonds, with corporate bonds rated A and above, and government bonds backed by the govt, offering 9-12%

No of MFI loans extended by lenders dips in Q2, average ticket sizes grow

The average loan size increased to Rs 45,124 at the end of September as against Rs 39,725 in the year-ago period, and Rs 43,298 in the quarter-ago period, the report said

'Microfinance loan portfolio stands at Rs 3.76 trn at end of Q2FY24'

NBFC-MFIs totalling 91 are the largest provider of microfinance, followed by banks, small finance banks and non-banking financial institutions

FinMin gave Rs 10,000 crore advance for MGNREGS from contingency fund: Govt

According to a written reply by the minister to another question, pending liability for MGNREGS wages to states is around Rs 2,020.59 cr, and the liability for material components is Rs 4,939.58 cr

Kirloskar Group's NBFC aims to add Rs 800 crore to AUM by March 2024

Its AUM currently stands at Rs 4,200 crore and the NBFC is aiming to close FY24 with an AUM of Rs 5,000 crore, the statement said

Rupee see-saws in thin band, likely because RBI offsets corporate dollar

The RBI sold dollars near the start of the spot trading session and also intermittently stepped in during the day, traders said

US Prez nominates Indian American global venture capitalist to IDFC Board

Deven Parekh, the managing director at software investment firm Insight Partners, was nominated for the post last week

2,623 wilful defaulters owe Rs 1.96 trillion to Indian banks: Bhagwat Karad

Karad also informed the Lok Sabha that the Centre has written off loans worth over Rs 10 trillion, in the last five years

28 crypto, VDA platforms register with FIU-India to comply with PMLA norms

Crypto exchanges and intermediaries dealing with VDAs were required to perform KYC of their clients and users of the platform

Nearly 80 mn tax returns filed till Dec 2: MoS Finance informs Parliament

The total net direct tax collection during 2022-23 is Rs 16.63 trillion out of which income tax collection is Rs 8.08 trillion

No proposal to relax borrowing limits for Kerala, other states: Sitharaman

In a reply in the Lok Sabha, Sitharaman said the Centre applies a common yardstick while fixing the annual borrowing limit of all state governments under Article 293(3) of the Constitution

L&T Finance announces completing merger of 3 subsidiaries with itself

Merger will create "sustainable value" for stakeholders and help governance, says NBFC

MPC likely to hold repo rate for fifth time in a row, shows BS poll

Likely to revise FY24 growth forecast upward