Page 39 - Nbfcs

Now boarding: Is India on the cusp of a tectonic shift in retail credit?

First-time customers are emerging as a huge catchment area for retail finance, but dangers lurk in the nooks and crannies

Top headlines: Russia still India's main arms supplier, SVB fallout

Business Standard brings you the top headlines at this hour

Bank credit grows 15.5% YoY in Feb 24 fortnight to Rs 134.5 trillion

While credit growth has moderated from 16.5% in mid-January, it is significantly higher than the year-ago period, when it was hovering at around 9 per cent

Loan app with Chinese links: Karnataka HC says investigation necessary

Refusing to defreeze the accounts and set aside the show-cause notice issued to a Kerala-based loan app company, the High Court of Karnataka has cautioned against such apps owned by Chinese entities and individuals which are used to destabilise India. In a recent judgment, Justice M Nagaprasanna, while rejecting the petition of Inditrade Fincorp Ltd, registered in Kochi, said, "It is in public domain that several borrowers have committed suicide unable to bear the harassments of the representatives of such loan apps. The office-bearers of several of these companies which control and operate such mobile loan apps are said to be entities of China or individuals from China sitting as directors of such mobile loan apps. Therefore, it becomes necessary for an investigation, in the least to be conducted of any such company who would operate such loan apps and has transactions between each other." Refusing to stall the investigation against the company, the HC said, "The investigation woul

RBI seeks details of NBFCs' total credit to Adani Group of companies

Move the first after the introduction of scale-based supervision for NBFCs on October 1, 2022

Retail trade and NBFCs drive credit growth in services: RBI data

Retail trade, NBFCs drive credit growth in services

Adani Group fallout? NBFC loans against shares under RBI scanner

The central bank's Department of Supervision sought this information over the past week, and the deadline for submission of large exposure was on Monday, informed a source

MFIs' net profit more than doubles in Q3 on buoyant interest income

The interest income expanded by 25% YoY to Rs 2,414 crore and sequentially, it rose 9.7% from Rs 2,201 crore in Q2FY23

Moneyboxx cumulative disbursements reach Rs 440 crore till January

Moneyboxx started operations in February 2019 and it currently has 54 branches spread across six states - Rajasthan, Punjab, Haryana, Madhya Pradesh, Chhattisgarh and Uttar Pradesh

Digital lenders increasing spending on data security tech: Report

Threat to data privacy and cybercrimes are among risks for digital lending: Survey

NBFCs' collection efficiency to remain strong even after rate hike: Icra

A day after the Reserve Bank delivered another rate hike, a domestic ratings agency on Thursday said the increases will not impact collection efficiencies for non-bank lenders. This is so primarily because of the collaterals given by borrowers and the priority they accord to repayments, Icra Ratings said. The RBI has hiked rates in five consecutive policy reviews since May 2022 in order to curb inflation, which has led to an overall jump in the interest rates in the system. The agency said typically housing loans and loans against property pools carry interest rate risks. "... the continuation of rate hikes will not have a significant bearing on the collection efficiencies given the association of the borrower with the underlying collateral (residential properties) and the priority given by borrowers to repay such loans," it said. The agency added that the collection efficiency is expected to remain robust on the back of strong outlook for majority of the sectors though impact of

Ahead of ban order, RBI gave a list of apps working with NBFCs to govt

The Reserve Bank of India gave a list of apps, which were working with non-bank lenders registered with the central bank, to the government ahead of the ban imposed on some apps earlier this week, officials said on Wednesday. "We have given a list of apps which work with NBFCs (non-banking finance companies) to the government. On that basis, the government has taken this step," Governor Shaktikanta Das told reporters here. Earlier this week, the Ministry of Electronics and Information Technology banned 94 loan apps, which included entities not connected to China as well. It included some apps involved in what reports described as predatory lending with unfair terms, which led to a debt trap for the borrowers. The list of banned apps include 'Buy Now Pay Later' (BNPL) apps such as LazyPay and Kissht. Das said the RBI sought a list of apps the NBFCs registered with it work with, adding that this was done because "there are many illegal and illegitimate apps" which promise to lend by

PAG bets big on Indian real estate as NBFCs go slow on developer loans

Investor lent Rs 3,000 crore to property developers last year

Tata Sons exploring ways to get out of upper layer NBFC list: Report

Since the collapse of IL&FS in 2018, the RBI has been gradually tightening the regulatory framework for NBFCs

Aditya Birla Capital's Q3 net up 27% YoY as retail, SME lending grows

Strong performance across businesses help 40% YoY growth in lending book

Our becoming bank rests on regulatory intent for NBFCs: Piramal Finance MD

In a Q&A, Jairam Sridharan dwells on his company's proposed retail thrust and the challenges facing the NBFC sector

Bajaj Finance's long range strategy lifts stock 5% higher

The consumer financier reported its highest-ever quarterly profit at Rs 2,973 crore in Q3FY23, up 40% YoY, aided by a healthy rise in NII and drop in provisions and contingencies

Alive and kicking: What common thread links the new-age NBFCs?

Using their imagination,new-age shadow banks have shown that their business model can fly

TVS Credit posts 75% rise in Q3; net profit rises to Rs 97.97 crore

The company's total income for the quarter under review was also up by 51 per cent to Rs 1,094.13 crore, as against Rs 723.6 crore during the third quarter of the previous financial year

TVS Credit Services Ltd Q3 net profit at Rs 97.97 cr, total income jumps

Non-banking finance company TVS Credit Services Ltd has reported a net profit at Rs 97.97 crore for October-December 2022, the company said on Wednesday. The city-based company, a part of the diversified conglomerate TVS Group, reported the net profit at Rs 55.88 crore during corresponding quarter last year. The net profit for the nine-month period ending December 31, 2022 was at Rs 278 crore as against Rs 58 crore registered in the same period last year. Total income during the quarter went up to Rs 1,094.13 crore from Rs 723.60 crore recorded in corresponding period last year. The assets under management stood at Rs 19,541 crore as of December 31, 2022. "In Q3 FY '23, our business has witnessed a growth in loan disbursements owing to strong momentum across products. This fiscal we have added over two million customers till date, bringing our total customer base to nearly 10 million," said CEO of the company Ashish Sapra. "We will continue to provide enhanced customer experience