Page 14 - Nbfcs

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

Stress in MFIs, MSME space should stabilise in coming months: Experts

NBFCs can assess a customer differently and provide a credit solution that differentiates them from banking (companies)

Reserve Bank of India action does not imply systemic risk, say NBFC chiefs

RBI's punitive actions over the last year have encompassed both banks and non-banks

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

No GST on penal fees for loan non-compliance, says finance ministry

The RBI in its circular had directed regulated entities to replace "penal interest" with "penal charges" for borrowers who fail to comply with loan terms

Shriram Finance Q3 results: Net profit up 73% at Rs 3,248.64 crore

By December 31 last year, the company's total assets under management increased by 19 per cent to Rs 2,54,469.69 crore

Jio Financial stock falls to over 11-month low; down 27% from Dec high

While the company's long-term prospects are promising, the volatility in earnings and the uncertain near-term outlook warrant a more cautious approach, according to analysts.

Bajaj Finance, Bharti Airtel join hands to create fintech platform

NBFC firm Bajaj Finance and Bharti Airtel on Monday announced a strategic partnership to create a digital platform for financial services. The one-of-a-kind partnership brings together Airtel's customer base of 370 million, about 12 lakh strong distribution network, and Bajaj Finance's diversified suite of 27 product lines, and distribution heft of 5,000 more branches and 70,000 field agents, a joint statement said. Airtel will initially offer Bajaj Finance's retail financial products on its Airtel Thanks App for seamless and secure customer experience, and later through its nation-wide network of stores, it said. The combined strength of the companies' digital assets will enable Airtel and Bajaj Finance to significantly deepen penetration of financial products and services, it said. Gopal Vittal, vice chairman and MD, Bharti Airtel, said, "today, we are trusted by over 1 million customers and our vision is to make Airtel Finance a one-stop shop for all the financial needs of our .

Fintechs capture 76% of personal loans as banks slowdown in H1 FY25

Banks experienced a 21 per cent drop in the volume of personal loans sanctioned, accompanied by a 30 per cent decline in loan value year-on-year, according to a new report

TVS family veteran H Lakshmanan dies at 92 due to age-related ailments

Starting at just twenty years old, Lakshmanan worked closely with TVS Motor founder TS Srinivasan (Cheema), mastering every nuance of the business operations - from legal contracts to labor relations

RBI eases curbs on NBFCs as compliance improves after supervisory actions

High interest rates and tighter regulations have been cited as contributors to weak demand and a slowdown in India's economic growth

Spandana Sphoorty soars 19% in weak market on high volume; up 42% in 2 days

Spandana Sphoorty share price: Around 13.7 million shares have changed hands on the counter, cumulatively, on the BSE and NSE, thus far. This is roughly five-times the stock's two-week average volume

FinMin wants banks, NBFCs to join hands to fund large infra projects

So far, IIFCL has sanctioned loans worth Rs 2.8 trillion, with disbursements totalling Rs 1.4 trillion, of which 50 per cent has occurred in the last 4-5 years

VFS Capital seeks small finance bank licence from RBI under 'on-tap' scheme

The company began microfinance activities in 2006 and was registered with the RBI as an NBFC-MFI in September 2013

Sharp rise in gold loan defaults worries banks and NBFCs, increase by 30%

Commercial banks reported a 62 per cent increase in gold loan NPAs, which rose to Rs 2,445 crore in June 2024 from Rs 1,513 crore in March 2024

NBFCs' loan growth moderates significantly to 6.5% in H1FY24: RBI report

The corporate bond market remains a significant funding avenue for NBFCs, which are the largest issuers of bonds, with private placement being the preferred mode

Digital fintechs see double-digit jump in loans, quantum of disbursals

The data has been sourced from 34 FACE members lending to customers through their non-banking financial companies (NBFCs) in partnership with other regulated entities

NBFCs need to further diversify funding sources to mitigate risk: RBI

Reduction in NBFCs' reliance on banks for funds bodes well for financial stability, RBI says

Fintech disbursements rise 21.3% in H1FY25, disbursal value grows 40%

Disbursals were also higher by 9.5 per cent from 51.5 million in H2FY24, according to data by the first self-regulatory organisation in fintechs

2024 financial wrap: Inflation, GDP, and RBI's regulatory vigilance

The overarching theme of this year has been the RBI's new approach to vigilance