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Experts see 2023 as a year of smooth sailing for real estate sector

Demand likely to remain buoyant despite prospects of another rate hike; industry looking for tax breaks, lower transaction costs

Top Headlines: Ex-FTX CEO arrested, CPI inflation eases in Nov, and more

Business Standard brings you the top headlines at this hour

Govt clarifies foreign funds can own over 51% stake in IDBI Bank

This comes ahead of the December 16 deadline for potential bidders to submit EoIs for picking up majority stake in the private sector lender

Five-Star Business Finance zooms 19%, hits highest level since listing

The stock hit a new high of Rs 619.50, surging 31 per cent against its issue price of Rs 474 per share

Shriram Finance turns India's largest retail NBFC after merger: Group

The company has net worth of Rs 40,900 crore and assets under management of Rs 1,71,000 crore

RBI reviewing regulation for governing non-core business of banks

The modifications in relation to banks' non-core business could be made by amending the Banking Regulation Act

What does demerger of the financial services biz mean for RIL shareholders?

Reliance Industries will demerge its financial services business and list as a separate entity. Will a fast-growing consumer and merchant loan book be enough to impress shareholders? Let's find out

JSW Group to foray into lending with Rs 400 cr investment in captive NBFC

The Sajjan Jindal-led JSW Group is foraying into the lending space with an investment of up to Rs 400 crore in a captive non-bank lender housed in its e-commerce arm, a senior official has said. The non-bank finance company (NBFC) will be a subsidiary of the JSW One Platforms (JSWOP) and will be doing purchase finance for buyers on the newly started e-commerce arm, Gaurav Sachdeva, the chief executive of JSWOP, told PTI in a recent interaction. Eventually, the NBFC can help out other companies in group like cements, steel or paints by offering financing solutions, Sachdeva, who has worked in the financial services space earlier, said. Sachdeva said at present, the micro, small and medium enterprises which form JSWOP's clientele are not served by the banking sector as well as they should be, and hence, the USD 22 billion JSW Group felt a need to enter the space. He said JSWOP will invest around Rs 350-400 crore in the NBFC over the next two years, and the same is a part of an overa

After RBI missive, FIDC asks NBFCs to revise codes of conduct

Has asked them to insert penalty cause for repeated breaches

Ahead of festive season, retail credit growth nears 20% in August

Credit growth to the services sector accelerated to 17.2 per cent in August 2022 from just 2.1 per cent a year ago. It was mainly due to improved credit off-take to NBFCs and trade sectors.

New funding mechanism takes wing for HNIs bidding Rs 2-10 lakh in an IPO

Under the new mechanism, non-banking finance companies (NBFCs) are providing up to Rs 8 lakh on a margin amount of Rs 2 lakh for a flat fee of Rs 2,000, said industry sources.

'Can't outsource recovery agents': RBI cracks the whip on M&M Financial

This is probably the first time the regulator has cracked down on lenders on recovery by coercive methods, which is typically a hallmark of outsourced recovery agents

Microfinance disbursements slowed in Q1 FY23 after new regulations: MFIN

Lenders needed time to make policy changes after norms were updated in March 2022, says industry group

A woman's death in Jharkhand brings loan recovery agents to notoriety again

Court warnings and RBI's circular prohibit lenders and their agents from harassing or threatening debtors

Google asks loan apps to display link to partner bank, NBFC: Report

Google also said that the digital lending apps that fail to comply with the rules, will be deleted from the Google Play Store

RBI wants fintech operators to follow rules of game: Shaktikanta Das

Warning against mushrooming of lending apps and their usurious recovery prices, the Reserve Bank said it is not interested in penalizing operators or stifling innovation but wants them to follow the rules of the game, governor Shaktikanta Das said on Tuesday. Addressing the third edition of the global fintech summit here this evening, he said the intention of the central bank is not to penalize or stifle anyone but to ensure that everyone follows traffic rules. The statement assumes importance in the wake of the recent incidences wherein a few people who borrowed through these apps have been forced to commit suicide and the last week's incidence of a young pregnant woman being mowed down by the recovery agents of Mahindra Finance which financed her father's tractor in Bihar. Since the past two years, when the negative loan app incidents began to surface the central bank had made many changes in the rule book, including mandating the loan apps to upfront disclose on whose NBFC's or .

Power Ministry pitches PFC as India's lead DFI for energy transition

Power min writes to FinMin, pitching PFC as lead agency for energy transition funding

IndoStar Capital Finance back in black in Q1 with net profit at Rs 61 cr

Company's net revenues during April-June quarter of FY23 were up by 32 per cent at Rs 167 crore as against Rs 126.6 crore in same period of FY22, IndoStar Capital said in a release.

EnKash: Powering India's SMEs and start-ups with a suite of corporate cards

The firm currently has a user base of 100,000 enterprises and processes transactions worth about Rs 28,000 cr a year

Housing finance companies likely to grow at 10-12% in FY23: Report

The upwards revision of the growth of HFCs was in expectation of a continued improvement in disbursements.