Page 25 - Nbfcs

Ireda to issue FPO this financial year to support its growing size

IREDA launched its initial public offering (IPO) in December 2023 and debuted on Dalal Street after two failed attempts over the last decade

Unsecured loans, capital market funding can bring grief for NBFCs: RBI DG

Over-reliance on unsecured lending and capital market funding can "bring grief" to non-bank lenders in the long run, Reserve Bank Deputy Governor Swaminathan J has cautioned. In an address to heads of assurance functions of non-bank finance companies at an RBI-organised conference on Wednesday, Swaminathan also warned against over-reliance on algorithms for taking lending calls. He also went public with the RBI's disappointment at the tendency of "misguided or intelligent interpretation" of rules to "circumvent regulations" and termed this as a "significant threat" to the financial system's integrity. The career commercial banker-tuned-regulator also flagged the risk limits for certain products or segments like unsecured lending are "way too high" to be sustainable in the long run. "There appears to be a fancy among most NBFCs to do more of the same thing, such as retail unsecured lending, top up loans or capital market funding. Over reliance on such products may bring grief at som

RBI action could increase business volatility for some NBFCs: Fitch

Firms' implementation of regulatory instructions varies, says ratings agency

RBI urges gold loan NBFCs to strictly comply with norms amid biz surge

RBI took stock of the gold loan business of non-banking finance companies after one of them - IIFL Finance faced regulatory restriction for violating norms

RBI urges NBFCs to maintain constant vigil against potential risks

Swaminathan said that NBFCs are highly exposed to a slew of risks which can affect their financial and operational status like cybersecurity and other risks

Vacuum for Indian MSMEs seeking growth finance: Nishu Malhotra, ADM Capital

In India, shift to private credit, Nishu said, started before the Covid era, driven by regulatory reforms including the Insolvency and Bankruptcy code, Real Estate Regulatory Authority (RERA) Act etc.

India Inc including NBFCs files ECB intent worth $7.73 billion in March

Amongst prominent companies which filed intent include private steel producer JSW Steel - $ 900 million, public sector power sector unit NTPC - $ 745.2 million and Power Finance Corporation - $ 450 mn

Piramal Group's fund management arm invests Rs 600 cr in Annapurna Finance

The assets under management of Annapurna Finance exceed $1.25 billion as of March 31, 2024, with 1,372 branches spread across 20 states and covering nearly 450 districts

RBI's advisory will not affect Manappuram's business, says MD & CEO

The RBI recently advised NBFCs extending gold loans not to lend in cash exceeding Rs 20,000, citing the Income Tax Act

RBI asks NBFCs to stick to gold loan cash payout cap of Rs 20,000

Retail credit in India has been growing at a rapid clip, with loans against gold rising threefold over the last four years

RBI asks NBFCs not to lend more than Rs 20,000 in cash for gold loan

NBFCs are required to maintain a Loan-to-Value (LTV) ratio not exceeding 75 per cent for loans granted against the collateral of gold jewellery

Namdev Finvest's assets under management cross Rs 1,200 cr mark in FY24

Non-banking financial company Namdev Finvest, which focuses on small business lending, on Tuesday said its assets under management have almost doubled to cross Rs 1,200 crore during 2023-24 fiscal. The Jaipur-headquartered company posted a growth of 92.62 per cent in AUM (asset under management) during fiscal 2023-24, with its net worth reaching Rs 410 crore. Namdev expanded its presence across eight states -- Rajasthan, Gujarat, Madhya Pradesh, Uttar Pradesh, Delhi, Haryana, Punjab and Uttarakhand. The company has secured a total funding of USD 41.5 million up to this point, with a USD 19 million of fundraise from Maj Invest in its latest round of Pre-Series C in April this year. Operating through 100-plus branches spanning across eight states in northwest India, the NBFC employs touch and technology (Phygital) loan approval and disbursal system, said Jitendra Tanwar, Managing Director and CEO of Namdev Finvest. "Until now, we have disbursed over 50,000 loans ranging from Rs 4,00

M&M Finance Q4FY24 results: Net profit declines 10% to Rs 619 crore

Expenses grew by nearly 36 per cent on the year to Rs 2,874.56 crore in the quarter under review, up from Rs 2,112.94 crore in the January-March quarter of FY23

Small is beautiful, but not always

For most SFBs, being a small bank is part of their journey, not the destination

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Analysts recommend buying these 3 finance stocks, see up to 25% upside

REC Limited and Power Finance Corporation have soared up to 10 per cent each in the last 30 days on the NSE

RBI proposes to bring NBFCs, co-op banks under operational risk norms

The 2005 guidance on the issue, which will be repealed, was aimed only at commercial banks

REC logs highest annual profit of Rs 14K crore on lower stressed assets

The company's loan book has grown by 17 per cent to Rs 5.09 trillion as against Rs 4.35 trillion as on March 2023, which is also the highest ever

Bank credit growth to NBFCs, personal loans moderate in March: RBI data

Credit growth in agriculture and allied activities remained robust, reaching 20.1 per cent year-on-year in March 2024, up from 15.4 per cent in the corresponding month a year ago

RBI cancels Acemoney (India's) NBFC licence citing violation of guidelines

The development follows a series of actions on other players in the industry on account of non-compliance