Page 30 - Nbfcs

Monetary Transmission via NBFCs strong but impact delays: RBI CAFRAL report

NBFCs tend to mute monetary transmission in the short run but amplify it in the long run

Five years on, co-lending's performance on the field may need a closer look

On paper, the co-lending model is a winner. But it calls for a high level of coordination: Policies would have to be agreed upfront between banks and NBFCs

Aditya Birla Capital PAT rises 44% backed by robust growth across business

The revenue of the company rose by 22 per cent to Rs 8,831 crore in the July-September quarter of FY24 from Rs 7,215 crore of the corresponding previous quarter

RBI appoints Manoranjan Mishra as Executive Director effective from Nov 1

As the Executive Director, Mishra's duties will include looking after Enforcement Department, Risk Monitoring Department, Department of External Investments & Operations

AUM to see 18-20% growth during second half: Shriram Finance's Revankar

Executive vice chairman of Shriram Finance, believes that the company's assets under management (AUM) may see healthy growth during the rest of the year as well

Some NBFCs are bigger than many banks, says CEO Aditya Birla Finance

"There is a harmonisation of policies and regulations for upper-scale NBFCs and banks in terms of capital requirements and asset categorisation," Rakesh Singh of Aditya Birla Finance said

Never seen this kind of alignment in banks: KV Kamath at the BS BFSI Summit

Kamath said that he has 'no sympathies' for organisations complaining of not having enough people in a country like India

Shriram Finance surges 9% on healthy September quarter results

Shriram Finance's reported NIM expanded ~60bp QoQ driven by lower negative carry because of lower liquidity on the balance sheet, and increase in high-yielding products in the mix.

Sundaram Home Finance Q2 results: Net Profit rises 18% at Rs 59.33 cr

Sundaram Home Finance has reported a 18 per cent increase in its net profit for the second quarter ending September 30, 2023 at Rs 59.33 crore, the company said on Thursday. The city-based wholly owned subsidiary of non-banking finance company Sundaram Finance had registered a net profit at Rs 50.30 crore during the corresponding quarter of last year. For the half-year ending September 30, 2023 the net profit of the company grew to Rs 116.75 crore, up by 20 per cent, from Rs 97.56 crore registered during the same period of last year. Disbursements made during the quarter under review grew to Rs 1,213.87 crore from Rs 940.56 crore recorded in the same period of last year. For the six month period ended September 30, 2023 the total disbursements rose to Rs 2,307.38 crore, from Rs 1,736.25 crore registered in the same period of last year. Commenting on the financial performance, Sundaram Home Finance MD, Lakshminarayanan Duraiswamy said,"the strong growth of 33 per cent in disburseme

HMD announces Easy Pay financing solution in partnership with DMI Finance

HMD said the Easy Pay is available at over 4,000 retail stores in the country where consumers can purchase Nokia smartphone by availing financing through digital process

PNB Housing Finance Q2 results: Net profit rises 45.8% to Rs 383 crore

The net interest income (NII) inched 1.85 per cent up to Rs 661 crore from 649 crore. The Net Interest Margin (NIM) slipped down to 3.95 per cent from 4.14 per cent in Q2FY23

RBI-regulated entities interface set for a change with bigger role for SROs

The SRO story has just begun to unfold

RBI puts Rs 2.5 cr penalty on L&T Finance for non-compliance of NBFCs norms

The Reserve Bank of India on Friday said a penalty of Rs 2.5 crore has been imposed on L&T Finance Ltd for non-compliance with certain norms concerning non-banking financial companies (NBFCs). After examination of reports following statutory inspection of the company, the RBI said it was revealed that the NBFC did not disclose to its retail borrowers, the gradation of risk and rationale for charging different interest rates to different categories of borrowers in the loan application form/sanction letter. It also failed to notify the change in penal interest rate to borrowers, when it charged penal interest rate higher than what was communicated at the time of sanction, the RBI said. "After considering the company's reply to the notice, additional submissions made by it and oral submissions made during the personal hearing, the RBI came to the conclusion that the charge of non-compliance... was substantiated and warranted imposition of monetary penalty, to the extent of such ...

Shares of Bajaj Finance fall 3% as management projects margin contraction

Bajaj Finance stock: During the recently concluded quarter, Bajaj Finance saw 29 bps year-on-year (YoY) and 11 bps quarter-on-quarter (QoQ) decline in NIM to 10.5 per cent

IIFL Finance Q2FY24 results: Consolidated net profit up 32% to Rs 526 cr

The company's non-fund based income, including fees and commissions, rose by 24 per cent year-on-year to Rs 598 crore in the reporting quarter

Bajaj Finance picks 26% stake in fintech firm Pennant Technologies

Pennant will become a related party of Bajaj Finance after completion of deal

SIDBI & GAME onboards 18 cohorts to NBFC Growth Accelerator Program

The joint initiative by SIDBI and GAME is expected to bolster the lending capacity of MSME focused NBFCs

Indian banks are facing a higher risk of defaults from unsecured loans: UBS

The note said the share of borrowers with more than five personal loans rose from 1 per cent in 2018 to 7.7 per cent in March 2023

RBI to extend PCA supervisory norms to govt-owned NBFCs from October 2024

The Reserve Bank on Tuesday said the strict supervisory norms under the Prompt Corrective Action (PCA) Framework will apply to government-owned non-banking financial companies from October 2024. Being put under the PCA framework means restrictions on dividend distribution/ remittance of profits; promoters/ shareholders to infuse equity and reduction in leverage; and restrictions on the issue of guarantees or taking on other contingent liabilities on behalf of group companies. The Reserve Bank introduced the PCA Framework for NBFCs on December 14, 2021. "The Framework has since been reviewed and it has been decided to extend the same to Government NBFCs (except those in Base Layer) with effect from October 1, 2024, based on the audited financials of the NBFC as on March 31, 2024, or thereafter," the central bank said in a circular. Some of the major government non-banking financial companies (NBFCs) include PFC, REC, IRFC and IFCI. The objective of the PCA framework is to enable ..

Microfinance sector's disbursements up 30% in Q1FY24, shows data

Lenders raise concern over attempts to harm credit culture