Page 38 - Nbfcs

Credit to industry up 12.6% YoY in September; touches 100-month high

Apart from base effect, credit to industry got a big boost from MSMEs; among sectors, petroleum, gems & jewellery, engineering, iron & steel, and construction were key drivers

Onset of festive season pushes credit growth across sectors in September

Housing and vehicle loans lead surge in retail credit, which was up 19.6% YoY

Life insurers' retail protection biz down YoY, seen stabilising going ahead

Max Life bucks trend with 11% YoY growth in retail protection APE in Q2

Scale with proper capital allocation is critical: APAC Financial founder

We have built significant digital and physical infrastructure to cater to the credit needs of MSMEs (micro, small and medium enterprises) in the semi-urban and rural areas

Hinduja Leyland Fin raises Rs 910 cr from qualified institutional buyers

The Company's board of directors approved the allotment of Issuance of 65 million equity shares of Rs 10 each at an issue price of Rs 140 per share aggregating to the total of Rs 910 crore

Tata Capital will look to cross-sell within the group: MD & CEO Sabharwal

'We can't be direct lenders because there are limitations', said Sabharwal

State-owned NBFCs looking to tap into India's first sovereign green bonds

The finance ministry is yet to confirm their participation and draw broad contours of the bond issuance

After RBI missive, FIDC asks NBFCs to revise codes of conduct

Has asked them to insert penalty cause for repeated breaches

Warburg Pincus to acquire majority stake in MSME lender Vistaar Finance

NBFC has more than Rs 2,600 crore in AUM and it has some 200 branches

Govt to provide collateral-free loans to start-ups under CGSS framework

The credit guarantee cover under the scheme would be both transaction-based (for single eligible borrowers) and umbrella-based (for a group of eligible borrowers)

LIC, Centre to sell 60.7% stake in IDBI Bank; DIPAM invites EoIs

DIPAM invites EoIs; last date to submit bids is Dec 16

RBI action against M&M Fin won't impact us: U Gro Capital's Sachindra Nath

'Our view is that the transmission of interest rates is not as high as the need for credit demand for working capital and term loans. So we don't see that as a challenge'

Bajaj Finance raises fixed deposit interest rate by up to 30 bps

Revised rates will be applicable from October 07, 2022.

Loan provisioning in banks: RBI for expected loss-based approach

With low NPAs and high provisions, time ripe for global standards: Bankers

Tata Sons, Bajaj Finance among 16 NFBCs put in RBI's upper layer list

HDFC, although qualified to be in the upper layer, has been kept out of the list as it is merging with HDFC Bank

Action against M&M Financial Services won't affect other NBFCs: RBI

Experts had pointed out that in light of these directions against one entity, recovery activities of NBFC sector could get impacted as a majority of NBFCs rely on outsourced agents for loan recovery

RBI to publish paper on expected loss-based approach for loan provisioning

Banks now make loan loss provisions on incurred loss model, wherein provisions are made after defaults

New funding mechanism takes wing for HNIs bidding Rs 2-10 lakh in an IPO

Under the new mechanism, non-banking finance companies (NBFCs) are providing up to Rs 8 lakh on a margin amount of Rs 2 lakh for a flat fee of Rs 2,000, said industry sources.

Bonding with bonds: Creating a deeper, wider market

India needs a vibrant bond market to fuel its growth ambitions but financial repression is keeping investors and issuers away

India Ratings upgrades non-bank lenders' outlook to neutral from improving

Domestic rating agency India Ratings on Tuesday upgraded its outlook on the non-bank lenders to "neutral" from "improving" on better collection efficiencies and asset growth in the sector. It, however, said that liability management is key for managing margins and loan growth for non-bank finance companies (NBFCs) and housing finance companies (HFCs). The agency said that with the onset of normalcy in lending, the on-balance sheet liquidity would also normalise, negating the impact of the rising cost of funds, thereby protecting margins to a certain extent. In the mid-year outlook on the sector, it said that a lower credit cost for 2HFY23 would aid profitability during the fiscal. Higher inflationary pressure on borrowers and interest rates may deter demand normalisation in the near term but the festive season demand could support the baseline credit offtake, it said. On the securitisation front, a major source of balance sheet management for lenders, the agency said it has witnes