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No change in strategy: Paytm denies reports of opting out of licences
Payment gateway and digital wallet service provider Paytm has decided to not re-apply for an NBFC licence and stop experiments in Payment Aggregator Cross-Border (PA-CB)
 "No change in strategy: Paytm denies reports of opting out of licences")
NIIF-backed Aseem Infra Finance to raise Rs 1,000 crore in equity in FY25
At present, NIIF holds a 59% stake, followed by 31% held by the Government of India, and SMBC holds the remaining 10% stake
 "NIIF-backed Aseem Infra Finance to raise Rs 1,000 crore in equity in FY25")
Bank-NBFC interconnectedness poses systemic risks: RBI ED Lakshmi Kanth Rao
"Sector needs strong regulatory standards to ensure no gaps"
 "Bank-NBFC interconnectedness poses systemic risks: RBI ED Lakshmi Kanth Rao")
Sebi orders Religare Enterprises to apply for open offer before July 12
The Burman group acquired an additional 5.7% stake in REL in September last year triggering the open offer requirement as their stake surpassed the 26% threshold
 "Sebi orders Religare Enterprises to apply for open offer before July 12")
Self-regulatory organisations for NBFCs: RBI invites application
Central bank to recognise a maximum of 2 SROs for the sector
 "Self-regulatory organisations for NBFCs: RBI invites application")
SMFG invests Rs 1,300 crore in its Indian unit to fuel NBFC growth
First fresh direct equity investment after 100% acquisition
 "SMFG invests Rs 1,300 crore in its Indian unit to fuel NBFC growth")
Japan's Sumitomo Mitsui Financial invests Rs 1,300 cr in SMFG India Credit
SMICC has separately invested Rs 150 cr in a subsidiary to expand its affordable housing finance solutions
 "Japan's Sumitomo Mitsui Financial invests Rs 1,300 cr in SMFG India Credit")
Securitisation market booms as shadow banks diversify funding sources
Sector is expected to grow further as credit demand grows, say senior executives
Aadhar Housing Finance sets IPO price band of Rs 300 to Rs 315 per share
Aadhar HFC provides a variety of mortgage loan products for residential and commercial property purchase and construction, home improvement and extension
 "Aadhar Housing Finance sets IPO price band of Rs 300 to Rs 315 per share")
REC logs highest annual profit of Rs 14K crore on lower stressed assets
The company's loan book has grown by 17 per cent to Rs 5.09 trillion as against Rs 4.35 trillion as on March 2023, which is also the highest ever
 "REC logs highest annual profit of Rs 14K crore on lower stressed assets")
MCA clears appointment of Hitesh Kumar Sethia as Jio Financial MD for 3 yrs
Jio Financial Services on Monday said the Ministry of Corporate Affairs has accorded its approval for the appointment of Hitesh Kumar Sethia as managing director and chief executive officer of the company. The appointment effective from November 15, 2023, is valid for three years, Jio Financial Services said in a regulatory filing. The approval letter was received by the company on April 24, 2024, it said.
 "MCA clears appointment of Hitesh Kumar Sethia as Jio Financial MD for 3 yrs")
Poonawalla Fincorp Q4 results: Net profit rises 67% to Rs 332 crore
FY24 PAT up 146 per cent year-on-year to Rs 1,683 crore; AUM crosses Rs 25,000 crore
 "Poonawalla Fincorp Q4 results: Net profit rises 67% to Rs 332 crore")
RBI cancels Acemoney (India's) NBFC licence citing violation of guidelines
The development follows a series of actions on other players in the industry on account of non-compliance
 "RBI cancels Acemoney (India's) NBFC licence citing violation of guidelines")
REC gets 60.5 bn yen green loan from Italian export credit agency SACE
The arrangement between SACE and REC is a breakthrough and a first-of-its-kind collaboration between an Indian government entity and SACE
 "REC gets 60.5 bn yen green loan from Italian export credit agency SACE")
Special audit starts at IIFL Fin after RBI restricted gold loan sanction
RBI's inspection had indicated a lack of adherence to the standard auction process and a lack of transparency in charges being levied on customer accounts
 "Special audit starts at IIFL Fin after RBI restricted gold loan sanction")
NBCC planning to set up its own NBFC to help save over $100 million
The Indian government owns infrastructure financial institutions but no other state-run company has created a unit to help it finance projects
 "NBCC planning to set up its own NBFC to help save over $100 million")
Tata Group seeks regulatory approval to avoid listing NBFC, says report
The Reserve Bank of India's (RBI) revised regulations in October 2021 require that large non-banking finance companies (NBFCs) list their shares within three years
 "Tata Group seeks regulatory approval to avoid listing NBFC, says report")
At Rs 3.55 trillion, REC clocks highest ever loan sanctions in FY24
The NBFC, which has widened its scope beyond pure play power sector, now lends to green energy, infrastructure, and new age energy transition projects as well
Co-lending book of NBFCs likely to touch Rs 1 trillion mark by June
The partners may increase their focus on other asset classes such as loans to micro, small and medium enterprises (MSME) and home loans, given higher risk weights for personal loans
 "Co-lending book of NBFCs likely to touch Rs 1 trillion mark by June")
From Federal Bank to L&T Finance, cos see robust disbursements in Q4 FY24
During the quarter under review, the CASA ratio of the lenders continued to remain under pressure
 "From Federal Bank to L&T Finance, cos see robust disbursements in Q4 FY24")
