Page 31 - Nbfcs

Further strengthen balance sheets even if financials remain strong: RBI

Gross NPAs lowest in a decade; tighter norms on unsecured loans for stability

RBI warns banks, NBFCs against reliance on model-based lending practices

The regulator said inherent biases and lack of transparency with AI/ML outcomes carry risks

Banks' asset quality improves to decadal high at end-Sept: RBI report

The central bank said the banking system and the non-banking financial companies (NBFCs) remain resilient, backed by high capital ratios, improved asset quality and robust earnings growth

RBI asks NBFCs to broad-base fundraising, reduce dependence on banks

The Reserve Bank on Wednesday asked non-bank finance companies to broad-base their fundraising to limit reliance on banks as it called for strengthening balance sheets and guarding against frauds and data breaches. According to the report 'Trend and Progress of Banking in India 2022-23' released by the RBI, the Indian banking system and NBFCs remain sound and resilient, backed by high capital ratios, strengthening asset quality and robust earnings growth. The consolidated balance sheet of scheduled commercial banks (SCBs) in 2022-23 expanded by 12.2 per cent, driven by credit to retail and services sectors. Deposit growth also picked up, although it trailed credit growth, it said. Looking ahead, it said, "Given the increasing interconnectedness between banks and NBFCs, the latter should focus on broadbasing their funding sources and reduce overdependence on bank funding. Banks and non-banks both, need to bring in greater empathy in their customer services". The concerted efforts ar

Nifty PSU Bank, Financial Services: Sell on rise strategy recommended

According to Ravi Nathani, an independent technical analyst, traders can consider to short the Nifty PSU Bank index with a stop at 5,825.

NBFC loan sanctions shrink by 5% to Rs 2.09 trn in urban area: FIDC

Growth in Semi-urban, rural areas holds up

Muthoot Microfin lists at 5% per cent discount against issue price

The stock listed at Rs 275.30, down 5 per cent when compard with its issue price of Rs 291 on the NSE.

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.