Page 13 - Nbfc

Zomato to invest $400 mn in quick commerce over next two years

Foodtech firm will also set up NBFC to disburse credit to customers, restaurants and food delivery workers

Ola eyes NBFC acquisition to expand financial services business

Ola will leverage the acquisitions to provide vehicle financing as well as personal loans, they said

Seizure of Rs 288-cr funds of Chinese-owned NBFC ordered

The NBFC was providing instant personal micro-loans through its mobile application called 'Cashbean' for suspicious foreign outward remittances, says ED

Housing finance players loan portfolio to grow at 8-10% in FY22: Report

Going forward, the growth trend is expected to continue, driven by healthy demand in the industry, increasing level of economic activity and increasing vaccination in the country, Icra ratings said

Mahindra Finance aims to reduce its net NPA below 4% by March-end

Non-banking financial company Mahindra and Mahindra Finance is aiming to reduce its net non-performing assets (NPA) ratio to below 4 per cent by March-end. In the quarter ended December 31, 2021, the company's net NPA (stage 3 assets), stood at 5.63 per cent (as per IND-AS accounting norms). Under the Reserve Bank of India's Prudential Norms on Income Recognition, Asset Classification and Provisioning pertaining to Advances (IRACP), released in November last year, its net NPA was at around 11 per cent in the third quarter of the current fiscal. Its Vice-Chairman and Managing Director Ramesh Iyer said the company is committed to reducing net NPAs to below 4 per cent under IND-AS and below 6 per cent under IRACP, by March-end. The non-bank may be required to make an additional provision in the range of Rs 500 crore to Rs 1,500 crore in Q4 FY22 in order to bring the net NPA below 6 per cent under IRACP norms. Its gross NPA as per IND-AS was at Rs 7,223 crore (11.30 per cent) and unde

ED attaches funds of NBFC in Chinese-funded instant loan apps probe case

It said a provisional order was issued under the Prevention of Money Laundering Act (PMLA)

NBFCs to witness revival in growth this year; may see slight uptick in NPAs

Non-banking financial companies (NBFCs) showed resilience in 2021 despite the coronavirus pandemic woes and are expected to witness continued momentum in growth this year

NBFC sector expected to remain buoyant, says RBI report

The pandemic has tested the resilience of NBFCs, but so far, the sector has emerged stronger: Report

RBI refuses to relax asset classification, provisioning norms for NBFCs

This will give rise to bad debt numbers of such para banks on technical grounds while making asset quality norms standardised across banks and NBFCs

RBI's PCA framework to discipline NBFC sector in long run, say analysts

Three different risk thresholds, three different yardsticks to measure PCA risk thresholds. The curns against the NBFC get progressively tightened as they breach higher threshold levels

RBI issues prompt corrective action framework for NBFCs

The PCA framework for NBFCs shall come into effect from October 1, 2022, based on the financial position of NBFCs on or after March 31, 2022

Tightening of norms may increase NBFCs' headline NPAs by one third: Ind-Ra

Tightening of norms may increase non-banking finance companies' (NBFCs) headline non-performing advances (NPA) by around one third, India Ratings and Research (Ind-Ra) said.

NBFC fragile assets likely to rise to 5-6% by March 2022: Crisil

Asset quality pressures vary across asset classes. While home and gold loans have been relatively less affected, unsecured credit and SME loans faced brunt

Religare Finvest debt recast at final stages; NBFC to reboot in January

The company has been in financial distress due to alleged misappropriation of funds by erstwhile promoters Shivinder Singh and his brother Malvinder Singh

Standard Chartered's NBFC arm ramps up retail book fast

The bank has 100 branches in the country, but is obliged to open roughly 40% of its branches in rural areas. An NBFC has no such obligation as of now

PAG bet $1 billion on Indian real estate post NBFC liquidity crisis

Scales up lending at a time when most big lenders shying away from sector

Want low-interest loan this festive season? Need a credit score over 750

In fact, you should monitor your credit score regularly because if it is low, it will take time to improve it

IIFL Finance reports 37% rise in second quarter profit at Rs 291.6 cr

The non-banking finance company said it has made an aggressive bet on growth, with an almost 15 per cent net increase in manpower strength in the last quarter

BFSI Insight Summit: It's advantage financial sector, say CEOs of top NBFCs

Pie is large and open to all, may even take half a century to reach saturation point when firms can seriously worry about competition, they say at Business Standard Summit

RBI announces new scale-based regulatory guidelines for NBFCs

The new framework will have a four-tier structure with only about 25 to 30 of the 9,000-plus NBFCs in the top two tiers with the strictest regulations.