Page 49 - Nbfcs

Deregulation of rates for NBFC-MFIs may lead to expansion of market

The large NBFC-MFIs have not rationalised their lending rates, despite achieving economies of scale.

Shriram Transport Finance raises nearly Rs 2,000 crore through QIP

The issue, which was launched on June 7, 2021, received 6.3 times oversubscription, a company release said.

Investors lap up Bajaj Finance despite NPA warning; stock up 10% in 2 days

The management of Bajaj Finance in a mid-quarter update indicated some adverse impact of Covid-19-related fresh lockdowns on business during the April-June quarter (Q1FY22)

Lenders begin vote to select highest bidder for Reliance Commercial Finance

The voting to choose the bidder will end on June 25 and resolve another Rs 9,000 crore of debt of Anil Ambani group company

Second wave impact: Auto debit payment bounce rate increases further in May

The unsuccessful auto-debit requests through the NACH platform are generally referred to as bounce rates

Top Headlines: WPI makeover on cards, number of air travellers doubles

Our top headlines on Monday track the latest developments

With borrowers unable to service loans, shadow banks are in for more pain

The bulk of the NBFC business is cornered by the top ten players, and they include several state-run entities.

Banks, NBFCs need to augment their capital, says RBI Governor Das

The RBI on Friday left the repo rate unchanged at 4 per cent

Second wave of Covid-19 to increase bad debts of NBFCs, HFCs: ICRA

According to the rating agency, 25-30 per cent of collections done by NBFCs and HFCs happen through field visits and largely via cash

Second Covid wave to push up NPAs for NBFCs, impact collections: Icra

ICRA said NBFCs reported NPAs to increase to about 4.5-5 per cent by March 2022

NBFCs auction record volume of pawned gold, warn of crisis for banks in Q2

Gold loan-focused non-banks like Manappuram Finance have auctioned a record 1 tonne, worth Rs 404 crore, of the pawned gold in the last quarter of 2020-21

NPAs of NBFCs, HFCs may rise to 4.5-5% by March 2022, says Icra

Restrictions in movements imposed by various states are likely to impact collections of NBFCs and HFCs, which may see NPAs rising to 4.5-5 per cent by March 2022, says a report

NBFC Magma Fincorp net loss widens to Rs 648 crore in March quarter

The company had posted net loss of Rs 355.08 crore during the January-March period of FY20

We are the Tesla of credit cards: Slice founder & CEO Rajan Bajaj

We have a non-banking financial company (NBFC) that provides the financing for transactions.

Reserve Bank of India digs in heels on auditor appointments at banks, NBFCs

The para banks, however, were allowed to do the change from the second half of the fiscal year.

CII protests RBI rules on auditors, says will cause 'enormous difficulties'

The central bank has asked most banks and NBFCs to immediately appoint new auditors.

Second Covid-19 wave: NBFCs brace for defaults, grim business prospects

The collections are down as staff is not able to reach out to customers.

NBFCs had objected to RBI rules on auditor change, called for expert panel

The RBI had said in its guidelines that all banks and NBFCs, except non-deposit taking ones below Rs 1,000 crore, should change their auditors

Microfinancing lessons from a mandi that govt-run Mudra seems to have lost

MFI agents hand out 15-day loans in cash with a lecture on vaccines to the women, who would otherwise approach money lenders to buy vegetables in bulk and sell at the market next to the Ganga

NBFCs double-digit growth in Q2, Q3 of FY21 points to resilience: RBI

The profitability of the sector remained stable in the third quarter of FY2020-21.