Page 40 - Nbfcs

Mirae NBFC arm floats new product offering loans against MF holdings

Customers can avail instant loans of up to Rs 3 crore by pledging their equity and debt MF holdings on a mobile app

Indian non-banking finance sector's profit to be stable: Fitch Ratings

Improving credit growth, decreasing asset-quality risks will be the character of Indian non-banking financial institutions (NBFI) during FY23, said Fitch Ratings on Monday

Satin Creditcare raises Rs 96 cr by issuing bonds to two investors

A total of 19,250 secured, rated and redeemable non-convertible debentures (NCDs) of Rs 50,000 each have been issued to AAV Sarl and Masala Investments Sarl

RBI explores ways to ensure customer safety while dealing with PPIs

Earlier this week, RBI issued an advisory clarifying that non-bank PPI issuers cannot load their wallets and cards from credit lines or preset borrowing limits

Decoded: The tizzy over RBI's ban on loading PPIs from credit lines

PPIs are instruments that facilitate the purchase of goods and services, conduct of financial services, enable remittance facilities, etc., against the value stored in them

RBI proposes norms for outsourcing of IT services by banks, NBFCs

Regulated entities (REs) will not require prior approval from the central bank for the outsourcing of IT and IT-enabled services

Spandana Sphoorty soars 18% as ex-MD Padmaja, board resolve differences

The company informed BSE, that its board and the founder and ex-MD Ms. Padmaja Reddy have resolved their differences and agreed to part ways on amicable terms.

Ban on loading through credit lines: PPIs call for clarity from RBI

Opinion is divided over whether or not the circular will impact the popular 'Buy Now Pay Later (BNPL)' schemes offered by many fintechs

RBI postpones implementation of certain norms related to cards by 3 months

Banks and non-banking financial companies (NBFCs) were to implement the Master Direction on 'Credit Card and Debit Card - Issuance and Conduct Directions, 2022' from July 1.

Non-banks not allowed to load credit lines on prepaid wallets, cards: RBI

RBI has asked fintech to stop this practice immediately. The change will come into effect on July 1

DBS Bank India acquires 9.9% in NBFC Svakarma Finance for undisclosed sum

DBS Bank India said the stake buy in Svakarma will help in delivering relevant financial solutions to the micro-enterprises through a combination of direct lending and co-lending

Indian Microfinance industry's loan book grows 10% to Rs 2.85 trn in FY22

NBFCs increase market share while that of banks dips

STFC not considering increase in lending rates: Company vice-chairman

It will be 'nimble-footed' as a NBFC and not seek a banking license, says Umesh Revankar

NBFC profitability to remain stable amid 85-105 bps in funding cost: Crisil

Rs 15 trn debt as on March 31 is due for repricing in FY23 owing to interest reset or maturity. Another Rs 3 trn of incremental debt is likely to be raised to support growth in lending

LIC hikes stake in Capri Global Capital to over 7% for Rs 221 cr

Acquires about 3.6 mn shares at an average price if Rs 624.61 a share

Asset quality in NBFCs, HFCs improves in Q4FY22 on lower slippages: Icra

The standard restructured book of NBFCs is estimated to have reduced to 2.7-3 per cent in March 2022 from the peak of 4.5 per cent in September 2021

IIFL Finance rallies 8% as home loan arm inks Rs 2,200-cr deal with ADIA

IIFL Home Finance proposes to use the additional capital to continue its granular expansion strategy into new markets to address the significant and growing demand for housing loans.

RBI issues standard assets provisioning norms for upper-layer NBFCs

In a circular on Monday, the central bank specified rates of provision for outstanding loans extended by 'NBFC-Upper Layer'

Collection efficiency for NBFCs, HFCs at 97-101% in April: Report

The collections had seen a modest decline of about 3 per cent following the third wave of infections in January 2022, but the recovery was prompt, Icra Rating said in a report.

Stocks to Watch: Banks, Tata Motors, Airtel, Maruti, IDBI, Adani group

Stocks to Watch today: Tata Motors signed the biggest-ever EV fleet order in India with the largest fully-electric ride-hailing service firm - BluSmart Mobility for delivering 10,000 Xpres-T EVs.