Page 50 - Nbfcs

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.

Covid-19 second wave: Clamour for packages for banks and NBFCs grows

Senior bankers say the situation had become serious and it was tough to gauge the economic impact

Shriram Transport Finance aims 10-12% AUM growth in fiscal year 22

Shriram Transport Finance is a non-banking finance company

Reserve Bank to strengthen risk-based supervision of banks, NBFCs

The Reserve Bank has decided to review and strengthen the Risk Based Supervision (RBS) of the banking sector with a view to enable financial sector players to address the emerging challenges

Banks with assets of more than Rs 15,000 crore must hire two auditors

Any bank with a balance sheet of less than Rs 15,000 crore can have one statutory auditor. However, in all cases, concurrent auditors cannot be appointed as statutory auditors

NBFCs seek fresh debt recast as Covid-19 second wave wreaks havoc

Those who had availed themselves of the recast earlier should get a second chance, the Finance Industry Development Council said in a letter to the RBI

RBI issues guidelines for appointment of statutory auditors of banks, NBFCs

The Reserve Bank of India on Tuesday issued guidelines for appointment of statutory auditors of banks and non-banking finance companies (NBFCs), including housing finance companies