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Piramal Enterprises shares tank over 10% after weak Q1 performance

PEL's share prices ended at Rs 881.35 today, down 10.59 per cent on the BSE

Piramal Enterprises stock tumbles 10% post June quarter results

The net interest margin (NIM) of the finance company dropped to 6.7 per cent compared to 7.3 per cent in the last year.

NBFC depositors can prematurely withdraw entire amount within 3 months: RBI

The Reserve Bank on Monday said non-banking financial companies (NBFCs) will pay 100 per cent of deposit amount within the first three months of accepting the fund, if the depositor seeks an withdrawal citing an emergency. In its review of regulations governing NBFCs, the central bank said no interest will be paid for such premature withdrawals and added that these changes will be in force from January 1, 2025. The definition of "critical illness" set by insurance regulator Irdai will guide on whether a request qualifies under the category, the central bank said. "...in cases of critical illness, hundred per cent of the amount of the principal sum of deposit may be prematurely paid to individual depositors at the request of the depositors, before the expiry of three months from the date of acceptance of such deposits, without interest," the central bank said. It specified expenses of an emergent nature include a medical emergency or expenses due to natural calamities or a disaster

Monetary policy: Some entities not following topup loan norms, says RBI

Credit card spend continues to see high growth despite risk weighting increase

RBI to set up public repository of digital lending apps to help customers

It will help people find out of a digital lender has a relationship with a bank or NBFC

Fusion Finance stock tanks 20%, hits 52-week low on weak Q1 results

The company reported a net loss of Rs 35.62 crore in June 2024 quarter due to higher than usual provisioning.

NBFC growth likely to take a hit as banks show funding reluctance

According to RBI data, as on September 30, 2023, 37.8% of the NBFC borrowing was from banks

RBI may give NBFCs access to public tech credit platform for data flow

PTPFC knits data residing in various entities like governments, account aggregators, banks, credit information companies

Shriram Group gets RBI nod to venture into asset reconstruction biz

The conglomerate announced last year it would enter ARC and wealth management businesses

Shriram Finance Q1 FY25 results: Net profit rises 18.6% Rs 2,030 crore

During the period under review, the liquidity coverage ratio was at 225.19 per cent as against 202.84 per cent by the end of June 2023

Credit on ONDC and OCEN awaits their 'UPI moment' as deployment begins

A lot of interest in joining an open network also boils down to how operational costs can be brought down in lending businesses. NBFCs and fintech could drive credit innovation on open networks

Bajaj Finance Q1 FY25 results: Consolidated net rises 14% to Rs 3,912 crore

Loan losses & provisions up 69% on muted collection efficiencies

HDFC Bank's unit in talks with global banks, seeks $300 mn in offshore loan

HDB Financial Services Ltd. is in talks with a group of global and local banks to finalise the terms

Poonawalla Fincorp top deck sees rejig, 5 seniors opt for early retirement

The NBFC has informed the exchanges that its five senior management personnel (SMP) have sought early retirement, while announcing the replacement

Global tech outage: 10 banks, NBFCs witness minor disruptions, says RBI

Overall Indian financial sector remained insulated from the global outage

Small and safe? Banks, fintech loans under Rs 50,000 on RBI radar

Scrutiny strengthened after regulated entities were in November asked to review exposure limits for consumer credit

RBI's risk weighting hike: Mutual fund funding to NBFCs continues to grow

Stays above Rs 2 trillion mark for second consecutive month

EU warns of data 'black holes' amid efforts to uncover shadow bank risk

Private credit lenders are increasingly the go-to financiers of companies that struggle to raise money from mainstream banks

Group representing NBFCs seeks revisit of membership norm for SRO

Finance Industry Development Council has sought a meeting with the central bank

RBI cancels registration for 2 NBFCs, cites irregular lending practices

The Reserve Bank on Monday said it has cancelled the certificates of registration of two NBFCs -- Star Finserv India and Polytex India -- due to irregular lending practices. Hyderabad-based Star Finserv India was offering the service under 'Progcap' (owned and operated by Desiderata Impact Ventures Private Limited). Polytex India, headquartered in Mumbai, was providing services under the 'Z2P' mobile application (owned and operated by Zaitech Technologies Private Limited). Giving reasons for cancelling the Certificate of Registration (CoR) of Star Finserv, RBI said the company has violated guidelines on the code of conduct in outsourcing financial services in its digital lending operations by outsourcing its core decision-making functions, such as credit appraisal, loan sanctioning as well as KYC verification process to the service provider. Star Finserv has violated RBI guidelines on data confidentiality and security of customer information by providing complete access to customer