Page 16 - Nbfcs

BS BFSI Summit: RBI action on some NBFCs warranted, says K V Kamath

Kamath said that the Reserve Bank of India's action on unsecured lending and non-banking finance companies (NBFCs) was warranted

BFSI Summit: Industry experts discuss future growth paths for NBFCs, MFIs

Business Standard BFSI Insight Summit 2024: Industry experts share insights into reach, regulatory pressures, growth opportunities for non-banking financial companies, microfinance institutions

NBFCs don't need bank status to succeed, say top leaders at BFSI Summit

Top executives of India's leading NBFCs at the Business Standard BFSI Insight Summit discussed whether they feel a need to step out from under the shadow of traditional banks

RBI's 'cease and desist' directive on NBFCs not arbitrary: Shaktikanta Das

RBI Governor explains regulatory actions in conversation with Tamal Bandyopadhyay at the Business Standard BFSI Insight Summit

Group representing business correspondents seeks regulatory status

Self-regulatory organisation status for business correspondents will improve governance, bring in investments

Microlenders under RBI lens for 'netting off' loans; all you need to know

During its FY24 annual inspection of banks and NBFCs, the RBI flagged concerns regarding the widespread use of 'netting off' in microfinance loans

Finova Capital raises $135 million to expand loan book, invest in tech

The firm has a presence across 16 states with over 400 branches. Its current assets under management are pegged at Rs 3,000 crore

Northern Arc Capital Q2 results: Net profit rises 24% to Rs 98 cr

NBFC firm Northern Arc Capital, which listed on the bourses last month, reported a 24 per cent increase in consolidated net profit to Rs 96 crore for the second quarter ended September 2024. The lender had earned a net profit of Rs 79 crore in the same quarter in the previous financial year. The total income increased to Rs 585 crore during the quarter under review against Rs 437 crore in the same quarter last year, Northern Arc Capital Ltd said in a regulatory filing. Its net interest income (NII) rose to Rs 288 crore compared to Rs 196 crore a year ago. On the asset quality front, the gross non-performing assets (NPAs) ratio stood at 0.60 per cent, while net NPA stood at 0.18 per cent as of September 30, 2024. During the quarter, the NBFC firm raised fresh equity capital of Rs 500 crore through an initial public offering. Capital Adequacy Ratio stood at 24.9 per cent at the end of the second quarter. Asset Under Management grew by 22 per cent to Rs 12,309 crore as of September

Jio Financial Services launches SmartGold for digital gold purchase

Customers can redeem their SmartGold units for cash or physical gold anytime they wish

Poonawalla Fincorp turns volatile post Q2 nos; brokerages mixed on outlook

The company reported a net loss of Rs 471 crore, due to the credit cost of Rs 910 crore, including Rs 670 crore one-time provisioning on the short-term personal loans (STPL) book.

Shriram Finance Q2FY25 results: Net profit rises 20% to Rs 2,153 crore

The NBFC's total income during the period under review increased by 18 per cent to Rs 10,096.68 crore, up from Rs 8,564.45 crore during the same quarter in 2023-24

MFI lenders turn cautious, loan portfolio declines as delinquencies rise

Overleveraging by customers is a pain point in the industry, said a regulatory report in FY23

On the table: FinMin to review public sector banks co-lending, MSME credit

DFS secy M Nagaraju to chair meeting on November 5

Banks, NBFCs' credit growth to see steady slowdown in FY25, says ICRA

Regulatory warning, tight funding influence strategy

Authum Investment & Infrastructure plunges 12% on weak Q2; profit drops 56%

Shares of Authum Investment & Infrastructure plunged 11.7 per cent at Rs 1,647.30 per share on the BSE in Monday's intraday trade

Navi Finserv cancels Rs 100 cr bond issuance plan after RBI action

The central bank had last week barred the NBFC from sanctioning and disbursing additional loans for charging exorbitant interest rates

Navi Finserv cancels Rs 100 cr bond issuance plan after RBI action

The central bank had last week barred the NBFC from sanctioning and disbursing additional loans for charging exorbitant interest rates

Crackdown on four NBFCs: 14% spread on loans prompted RBI action

The regulator took such stern action amid a risk of rural distress due to unfair practices

Why has RBI again cautioned NBFCs not to cross regulatory redlines

The focus is on unsecured retail lending by shadow banks, according to experts

RBI walks the talk: NBFCs should cut usurious interest rates, high fees now

The NBFCs, which have been punished or are likely to be punished, should bring down the usurious interest rates, high fees and penalties without losing time