Page 24 - Nbfcs

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

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