Page 13 - Nbfcs

RBI likely to hold fresh talks on project financing in three months

Last year in May 2024, RBI released a draft direction outlining the prudential framework for project loan financing

Tata Capital board to meet next week to decide on rights issue plans

The board's meeting, to discuss the size and timing of the rights issue, came shortly after the company sought shareholders' approval in January

Raise deposit insurance cover to Rs 10L: All India Reserve Bank staff body

AIRBEA has cautioned that raising the deposit insurance cover would increase the premium burden on banks, which may not be fair for well-regulated commercial banks with low failure rates

The travails of Sachin Bansal's Navi, a fintech that wanted to be a bank

Earlier this week, Bansal stepped away from the CEO post pf the finserv and tech verticals to focus on the group's long-term vision, expansion and M&A efforts

LIC suffers Rs 84,000 crore dent in portfolio amid stock market crash

A large portion of the dip is attributed to the over 10 per cent correction in ITC (Rs 11,863 crore), Larsen & Toubro (Rs 6,713 crore) and State Bank of India (Rs 5,647 crore) shares, thus far in CY25

Regulator has been urging caution on NBFC pricing: Aadhar HF MD & CEO

The adjustments in the US economy suggest we may see stability over time, says Rishi Anand

PSU NBFCs reissue bonds in Feb as fundraising limit reached for FY25

Each security is assigned a unique number called ISIN (International Securities Identification Number) at the time of issuance to avoid any misunderstanding among traders

20 NBFCs, including IDFC, surrender CoR; 17 licences cancelled: RBI

The Reserve Bank of India on Friday said 20 non-banking financial companies, including Reliance Commercial Finance and IDFC Limited, have surrendered their certificate of registration (CoR). Of these, two non-banking financial companies (NBFCs) have surrendered their CoR as they have exited from the non-banking financial institution business. These NBFCs are Manoway Investments Private Limited and Reliance Commercial Finance Limited. IDFC Ltd, IDFC Financial Holding Company Ltd and other 16 entities surrendered the CoR as it ceased to be a legal entity due to amalgamation or merger. Besides, the RBI cancelled the CoR of 17 NBFCs, the central banks said in another statement. These NBFCs whose licences were cancelled had their registered office in West Bengal. In a separate statement, RBI said it has restored the licence of Kamdhenu Finance Company Pvt Ltd after considering the orders passed by the Appellate Authority/Courts.

Overall bank exposure to NBFCs moderates, but remain primary source

Overall bank exposure to NBFCs as share of total bank credit declined in 2023-24, which bodes well for overall financial stability, according to the Reserve Bank of India

RBI-NBFC meet: Shadow banks seek new funding as bank credit tightens

RBI governor nudges NBFCs towards Unified Lending Interface

Ensure fair customer treatment, address their grievances: RBI Guv to NBFCs

RBI Governor Sanjay Malhotra on Thursday asked NBFCs to ensure customers are treated fairly and put in place a mechanism for quick redressal of grievances. The governor met with managing directors and chief executive officers of select non-banking financial companies (NBFCs) across all layers, including government NBFCs, housing finance companies and micro-finance institutions. These NBFCs constitute nearly 50 per cent of the total assets of the NBFC sector. Malhotra, in his opening remarks, underscored the role played by NBFCs in credit intermediation, particularly in making credit available for small businesses and niche segments, the Reserve Bank of India (RBI) said in a statement. Highlighting the collaborative efforts required between the Reserve Bank and the NBFCs, the Governor stressed upon balancing growth aspirations with sound practices for ensuring inclusive development, customer protection and financial stability. "He also underscored the significance of ensuring fair

Action against banks, NBFCs if they violate gold auction norms: Sitharaman

Finance Minister Nirmala Sitharaman on Monday said action will be taken in case there are violations of well laid down processes for auctioning of gold by banks and NBFCs when a borrower fails to pay the gold loan. During Question Hour in Lok Sabha, she said Non Banking Financial Companies (NBFCs) and Scheduled Commercial Banks (SCBs) are guided by similar rules. There are very well laid down and tight processes in place for auctioning of gold by NBFCs and banks in case a borrower fails to pay the gold loan. These processes are followed by NBFCs and banks, she told Lok Sabha. There is a process for giving enough number of notices to bank account holders to say their servicing is not up to the mark. In the eventuality of a borrower not coming back to pay, the bank or NBFC will be forced to go for an auction, the minister said. Sitharaman stressed that even while going for an auction, there are very well laid out procedures and tight processes. "... if these processes are violated,

Why RBI has asked banks to change their internet domain name to 'bank.in'?

The Reserve Bank of India (RBI) announced the launch of two domains: '.bank.in' for all Indian banks and 'fin.in' for NBFCs

RBI directs NBFCs to disclose maximum loan charges, seek board approval

The RBI has directed large NBFCs to disclose total loan charges, including interest and fees, and mandates board approval for maximum rates to enhance transparency and fair lending practices

Revenue department rejects panel's GST waiver demand on co-lending

In May 2024, the Department of Financial Services had asked SBI to set up a co-lending committee to address issues related to its business model

Muthoot Finance hits new high on strong earnings hope; up 31% from Nov low

With a favorable demand outlook for gold loans driven by reduced competition from banks and limited availability of unsecured credit, the company is well positioned to maintain its growth momentum.

Manappuram Finance rallies 5% on heavy volumes; hits over 4-month high

For Manappuram Finance, the gold loan growth will continue to remain healthy, driven by demand-side tailwinds due to the poor availability of short-term personal and MFI loans.

Aditya Birla Capital Q3 results: Net profit down 4% at Rs 708 crore

Margins under pressure for NBFC unit

Bajaj Finance share rises 5%, hits record high post Budget 2025; here's why

In the past six trading days, Bajaj Finance share has soared 15 per cent. On January 30, 2025, the stock had surpassed its previous high of Rs 8,190 touched in October 2023

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