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Digital lenders seek cap on default loss guarantee models from RBI

They suggested that the central bank could look at a reasonable cap to the FLDG models, given RBI's concerns of around build-up of systemic risk and 100% risk transfer rather than banning it outright

NBFC-MFIs overtake commercial banks in micro loan market share in Q2

One reason for this shift in trend could be that banks faced challenges in managing this asset class, especially after the outbreak of the Covid-19 pandemic and the resultant lockdowns

Risky lending: Share of subprime borrowers higher at PSBs, shows data

The share of such loans declined between September 2020 and March 2022 in private banks and NBFCs but rose for public sector banks

Slippages from restructured NBFC book increased in H1FY23, says Icra

Write-offs remained elevated at 2.1 per cent for NBFCs and 0.5 per cent for HFCs in H1FY23

NBFCs' share in India's lending pie fell to 5-year low of 19.8% in H1FY23

The NBFCs share of the country's lending pie declined to five-year low of 19.8 per cent in the first half of FY23

Digital lending apps: RBI received 13,000 complaints against banks, NBFCs

The grievances, filed under RBI's integrated ombudsman scheme of 2021 between April 2021 and Nov 2022, also cite harassment by recovery agents

IndusInd Bank enters into Rs 500 crore co-lending pact with SV Credit Line

Private sector IndusInd Bank announced its tie-up with non-banking finance company SV Credit Line for a co-lending agreement for Rs 500 crore loan exclusively to women borrowers. The agreement will help rural women access to affordable loans which they could use for a wide range of economic activities such as agriculture, animal husbandry, trading and local manufacturing, among others, SV Credit Line said in a statement. "The fact that we offer their products and services only to women customers makes this proposition a winning one," SV Credit Line Group CEO Vivek Goyal said. The NBFC (non-banking finance company) only lends to women customers and has a 3.5 lakh customer base serviced by 248 branches spread across 10 states and 130 districts.

Curb on securitising short-term maturity loans may hurt micro loan biz

Change required by the central bank could make a certain portion of loan books ineligible for securitisation

HDFC AMC gains 3% as promoter abrdn plans to sell entire 10.2% stake

abrdn Investment Management is to place up to 21.12 million shares (i.e. 9.9 per cent) with a single buyer with the rest being sold separately, subject to feasibility.

Target prices show shine ahead for gold; experts see upside for financiers

Analysts' target prices also indicates good upside for gold financiers

Five-Star Business Finance zooms 19%, hits highest level since listing

The stock hit a new high of Rs 619.50, surging 31 per cent against its issue price of Rs 474 per share

Shriram Finance turns India's largest retail NBFC after merger: Group

The company has net worth of Rs 40,900 crore and assets under management of Rs 1,71,000 crore

Mahindra Finance up 6%, hits 52-week high on healthy disbursements in Nov

The company recorded a disbursement of approximately Rs 4,500 crore in November 2022, delivering a 75 per cent YoY growth, on the backdrop of positive macro environment.

Nifty to reach 20,500 by end-2023, implying 12% price return: Goldman Sachs

Says India's 'superior' earnings growth appears to be priced in, sees 'modest' contraction in P/E multiples going ahead; stay overweight on banks, insurers, and investment cyclicals

Bajaj Finance raises interest on FDs of up to Rs 5 crore by 25 bps

Revised rates applicable on fresh deposits and renewals

Regulating NBFCs like banks to impair lending model: FIDC to FM Sitharaman

According to the memorandum, if NBFCs are to be regulated like banks, then the typical NBFC model of lending will suffer which will have an impact lending to the unbanked/ underbanked segment

Five-Star Business up 3.4% on debut as Rs 684 cr worth of shares are traded

Listing day gains come despite lukewarm response to IPO

Moneyboxx Finance expands operations in Chhattisgarh, opens new branches

Moneyboxx Finance that provides small-ticket business loans to micro enterprises on Wednesday said it has extended operations in Chhattisgarh by opening three new branches in the state. As a part of this expansion, the company aims to meet growing and unmet credit needs of micro and small businesses in the state, the NBFC said in a release. With the opening of new branches in Raipur, Bilaspur and Rajnandgaon districts of Chhattisgarh, the company now has 50 branches across six states Rajasthan, Punjab, Haryana, Madhya Pradesh, Uttar Pradesh and Chhattisgarh. "Our new branches will cater to the needs and provide credit services to the underserved section of borrowers in Tier-3 and below places. Our presence in Chhattisgarh will help address the increased credit demands amid the booming small businesses and agriculture landscape in the state," Mayur Modi, Co-founder of Moneyboxx Finance, said. Further, Moneyboxx said with planned equity fund raise and continuous debt funding from 22

A Rs 5,000 cr opportunity: Hinterland is Pine Labs' BNPL money-spinner

These include products like smartphones, wearables, large appliances, smart televisions, and washing machines

Piramal Enterprises posts net loss of Rs 1,536 cr on higher provisions

PEL has moved Rs 5,888 crore worth of wholesale assets from Stage 1 to Stage 2 as the management believed there could be potential stress from these assets