Page 22 - Nbfcs

How to trade Max Financial Services stock amid these 3 key developments

Technical chart shows that MFSL stock is facing some resistance around Rs 1,140 level; while the short-term trend may turn cautious, the overall trend seems positive; check key levels here.

SMFG India Credit Company to get up to Rs 2,000 crore capital from parent

Slated to become upper layer NBFC with listing plans

SMFG India Credit eyes Rs 60k cr AUM by 2024-25, to focus on sustainability

Sumitomo Mitsui Financial Group (SMFG) India Credit, one of the leading non-banking financial companies, is eyeing assets under management (AUM) to be Rs 60,000 crore by the end of the current financial year 2024-25. A statement by the company on Tuesday said that in the last fiscal, the total AUM was Rs 45,000 crore. The NBFC will also expand the branch network to expand its reach. In the last two years, 300 branches were added, mostly in Tier 2 cities and rural areas. The total number of branches of the NBFC now stands at 1000, the statement said. The company will focus on sustainable development and inclusive prosperity, it said.

Shriram Finance plans to raise up to $1.5 bn from overseas, says CEO

Last November, Reserve Bank of India asked all lenders to set aside more capital on loans given to non-banking financial companies (NBFCs)

RBI cancels registration of Margdarshak Financial Services over high NPAs

The Reserve Bank of India (RBI) has cancelled the registration of Lucknow-headquartered Margdarshak Financial Services Ltd over high net NPAs and defaults on repayment to lenders. As on March 31, 2021, the company failed to maintain the minimum regulatory net owned fund of Rs 5 crore and minimum capital adequacy ratio of 15 per cent stipulated for NBFC-MFI, the RBI said, while cancelling its certificate of registration. As per the statutory audit, as on March 31, 2021, the NBFC was facing cash flow issues and defaulted on repayment of Rs 49.27 crore to its lenders. "Further, the auditors have observed that due to losses (Rs 187 crore) and high net NPAs (Rs 82.37 crore) there is material uncertainty which casts significant doubt on the company's ability to continue as a going concern," the central bank said. Further, delay was observed in finalising the balance sheet for the year ending March 31, 2021, as the same was finalised after nearly seven months, on October 22, 2021. The RB

Rising costs from T+1 timeline may push weaker P2P players to the brink

While there are 26 licensees, only 10-11 players are active in this space, with the industry's assets under management totalling Rs 11,000 crore

Ponzi like model of P2P lenders prompt crackdown, RBI finds high NPA

Violations of regulatory guidelines were confirmed through supervisory scrutiny; the regulator dealt with some of these platforms bilaterally for remedial action

Funding constraints to hinder NBFCs' growth after two strong years: ICRA

The report said that the sector's AUM, which stood at approximately Rs 47 trillion in March 2024, is projected to exceed Rs 50 trillion in the current financial year

Gold loan demand stays strong despite cash disbursement curbs: CRISIL

According to CRISIL, growth for gold-loan NBFCs has been supported by favourable movement in gold prices

RBI tightens norms for P2P lending platforms to improve transparency

The Reserve Bank on Friday tightened norms for Non-Banking Financial Company Peer to Peer Lending Platforms (NBFC-P2P Lending Platform) to improve transparency and compliance. As per the revised master direction issued by the RBI, a P2P platform should not promote peer-to-peer lending as an investment product with features like tenure-linked assured minimum returns, liquidity options, etc. Non-Banking Financial Company - Peer to Peer Lending Platform (NBFC-P2P Lending Platform) should not cross-sell any insurance product also, which is in the nature of credit enhancement or credit guarantee, it said. No loan should be disbursed unless the lenders and the borrowers have been matched/mapped as per the board-approved policy framed, it added. The RBI issued guidelines for P2P lending in 2017. Such a platform acts as an intermediary providing an online marketplace/platform to the participants involved in peer-to-peer lending. However, it has been observed that some of these platforms

RBI new rules for FD in NBFC applicable from Jan 2025: Check details

A number of regulations applicable to NBFCs were reviewed and revised regulations were shared in the central bank's latest circular

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