Page 27 - Nbfcs

Compliance costs may spur fintech sector consolidation: Industry experts

The minimum cost of compliance has nearly doubled over the past year, say companies

NBFCs begin provisioning for AIF exposure after RBI tightens norms

Piramal to adjust Rs 3,164 cr; IIFL Finance sees Rs 161 cr impact

Stock price, net worth of NBFCs take knock as RBI curbs investments in AIFs

RBI tightening has minimal impact on banks as their AIF exposures small

Fusion Micro Finance surges 8% after 10% equity change hands on BSE

Till 09:24 AM; around 10.30 million equity shares representing 10.2 per cent of total equity of Fusion had changed hands on the BSE, the exchange data shows.

Muthoot Microfin IPO to open on Dec 18 at price band of Rs 277-291

The funds are expected to augment the capital base of the company. Out of the total, the company plans to raise Rs 760 crore through the sale of fresh equity and Rs 200 crore via Offer for Sale

Cloud-lending startup Lentra launches 3 AI products for financial sector

The company launched AI products, namely Lentra Convo, Lentra Insights, and Lentra Wingman, to serve lenders with solutions that enhance the lending processes

Are you facing short-term credit issues? Opt for a secured credit card

Invest in liquid and short-duration funds to finance short-term spending goals

Loan disbursements by FACE-fintech companies jump 43% in Q2: Report

These companies disbursed around 24.4 million loans in Q2 FY24, marking a 39 per cent Y-o-Y growth in volume from 17.5 million loans in Q2 FY23

Spandana Sphoorty Financial eyes AUM to grow to Rs 28,000 cr by FY28-end

As for geographic diversification, Spandana plans to reduce the share of the top three states to 36 per cent by FY28 from the current 44 per cent. The share of any one state would be capped at 12 %

Swiggy disbursed Rs 102 cr in loans to delivery partners in last 12 months

Swiggy receives over 1.5 lakh loan applications monthly. It has partnered with Betterplace and Refyne to enable loans. There is no limit to the number of loans delivery partners can apply

Fedbank Financial Services posts 25.12% growth in profit during Q2FY24

The Net Interest Income (NII) of the company rose by 29 per cent to Rs 207.30 crore from Rs 160.40 crore in the second quarter of the financial year 2023

RBI allows REs to use HDFC Bank-Crunchfish AB's offline payments product

HDFC Bank had stated that it would roll out this service as part of a limited pilot for four months in over 16 cities and towns across India

IREDA hits 20% upper limit; stock up 166% against issue price in 11 days

IREDA has launched a retail division to gear towards enhancing emphasis on providing loans to borrowers in the PM-KUSUM scheme, Rooftop Solar, and other Business-to-Consumer (B2C) sectors.

Connected lending: Influence of business houses likely to be curbed

According to industry experts, the term 'Regulated Entities' includes not only banks but is also expected to include other lending agencies like NBFCs and Co-operative banks

Positive signs

Bulls can stretch valuations

Small ticket personal loans remain a concern for industry: Incred Finance

Incred Finance noted that its personal loans portfolio was in the regular personal loan segment, with an average ticket size being over Rs 2,00,000

Paytm expands loan distribution business, targets personal, merchant loans

Paytm said that it would continue to collaborate and add banks and NBFCs as lending partners for its loan distribution business

Higher credit demand likely to lead to further upsides for banks

The RBI's increased risk weightage will hit growth in personal loans, credit cards and NBFCs

L&T Finance announces completing merger of 3 subsidiaries with itself

Merger will create "sustainable value" for stakeholders and help governance, says NBFC

Pace of bank credit to retail declined to 18% in October, shows RBI data

The month of October is marked by festive season demand and also the start of the busy season of the financial year