Page 4 - Nbfc

L&T Finance Q4 results: Profit rises 15% to ₹636 cr, revenue at ₹4,027 cr

Retail-focused non-bank lender L&T Finance Holdings on Friday reported a 15 per cent rise in consolidated net profit to Rs 636 crore for the January-March quarter of 2024-25. The company had earned a net profit of Rs 554 crore in the corresponding quarter of the previous financial year. During the quarter, the NBFC's total income increased to Rs 4,027 crore from Rs 3,676 crore a year ago, L&T Finance said in a regulatory filing. Interest income grew to Rs 3,750 crore during the period under review, from Rs 3,323 crore in the corresponding quarter a year ago. Retail disbursements rose to Rs 14,899 crore as compared to Rs 15,044 crore in the last quarter of the previous year. The NBFC firm plans to foray into gold loans and entered into a business transfer agreement with Paul Merchants Finance Pvt Ltd for the proposed acquisition of their gold loan business undertaking by way of a slump sale on a going concern basis, subject to fulfilment of customary closing conditions. "The ...

Shriram Finance Q4 results: Profit rises 10% to ₹21.39 bn, misses estimates

Analysts, on average, had expected a profit of Rs 22.24 billion, according to data compiled by LSEG data. The company's financing costs rose 31% in the quarter

RBI's gold loan norms welcome, but NBFC-bank parity is essential

It is essential to understand that the very purpose of the existence of NBFCs is to issue loans that banks, with their fragile capital structure, cannot issue

Indian companies file $2.82 billion ECB plans with RBI in February 2025

Among the prominent firms that filed intent in February 2025 with the RBI is Tata Steel Ltd, for $750 million, for overseas investment in joint ventures and wholly owned subsidiaries

Poonawalla Fincorp launches gold loan business; eyes Tier-I, II expansion

The Cyrus Poonawalla Group-backed NBFC plans to open 400 new branches over the next four quarters, targetting Tier-II and Tier-III cities

NBFCs should not take risk beyond their absorption capacity, says RBI

Swaminathan emphasises fair lending, recovery practices

Fintech NBFCs sanctioned 83 mn loans in first 3 quarters of FY25: Report

It added that quarter-on-quarter (Q-o-Q) sanction value had declined by 15 per cent in the third quarter of FY25 (Q3FY25) compared to the previous quarter

Trillionloans Fintech secures 'IND BBB+' rating from India Ratings

The non-banking financial company (NBFC) plans to leverage BharatPe's merchant network with a base of over 18 million customers

Some upper-layer NBFCs can be good substitute for banks: Sanjiv Bajaj

In next 10-15 years, India needs around four large capable, mature NBFCs, says Bajaj Finserv's Chairman and Managing Director Sanjiv Bajaj

RBI adopting more accommodative stance under Sanjay Malhotra: Analysts

This is reflected in the measures taken by the central bank in the past few months to spur economic growth and ease liquidity tightness

NBFCs urge RBI to raise ECB limit, ease loan recovery and eKYC rules

NBFCs urge RBI to raise the ECB limit, ease SARFAESI norms for small loans, expedite eKYC approvals, and relax asset classification rules for alternative vehicle financing

Indian companies filed ECB intent worth $9.54 billion in December 2024

Of this, the intent for fund-raising through the automatic route amounted to $6.23 billion, while that via the approval route stood at $3.3 billion, according to RBI data

PhonePe returns NBFC-AA licence, will partner with other AAs in market

PhonePe had integrated the AA service into its consumer app, allowing users to create an interoperable AA handle and access bank statements through the "check balance" feature at no cost

IPO-bound Veritas Finance Q3 results: Net profit rises 9% to Rs 68.93 cr

Veritas is the fastest-growing NBFC in terms of assets under management (AUM) growth among compared peers for the period between FY22 and FY24

Banks to NBFCs, customer complaints rise as redressal system slows down

Complaints about mobile or e-banking form majority of those received by the RBI ombudsman against banks

RBI aligns HFCs' NCD private placement rules with NBFC regulations

According to a notification by the RBI, the revised guidelines will apply to all new private placements of NCDs with maturities exceeding one year by HFCs, effective immediately

RBI must come out with road map for NBFCs to become banks: Umesh Revankar

As and when the RBI comes out with a roadmap, we will relook at the way we do business and make the necessary changes, Umesh Revankar, Executive Vice-Chairman, Shriram Finance said

Piramal Enterprises Q3 results: Firm back in the black with Rs 39 cr profit

The credit cost of the company increased to 1.9 per cent from 1.6 per cent in Q2 FY25

Tata Sons' de-registration application under consideration, says RBI

On Thursday, the regulator released the list of NBFC-UL for 2024-25 in which 15 entities are named, same as financial year 2023-24. No new NBFCs were included in the list for FY25

Cease & desist: Reserve Bank of India's quick shift on NBFC curbs

In December, the restriction was lifted for Navi Finserv, and this month, it was removed for the remaining three NBFCs