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Latest Articles in nbfc

RBI New Norms Likely To Increase NBFCs Bad Loans By One-third: Study

The clarification included classification of special mention account (SMA) and NPA on a day-end position basis and upgrade from an NPA to standard category only after clearance of all outstanding overdues.

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Finance Industry Transitioning To A New Era Of FinTech – NBFC Collaborations

Serving as a golden opportunity for NBFCs to offer their wide range of credit services to multiple sectors, the fintech domain is set to be a powerful ally for the segment in the coming years.

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Harshakti & Co. Barred From Undertaking Assignments For Two Years

RBI said, in a press release, on Tuesday that the step has been taken because of the failure of the company to comply with certain audit rules. The step has been taken under Section 45MAA of the RBI Act.

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Mahindra Finance Sees Cent Per Cent Collection Efficiency In September

The improvement in mobility has been reported as the reason for the improvement in collection figures from 95 per cent in July and 97 per cent in August.

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ED Seizes Rs 131-Cr Funds Of Chinese-Controlled NBFC For Foreign Exchange Law Violation

This case came under the ED radar during a separate money laundering probe against a number of NBFCs and FinTech companies which are linked to instant personal loans providing mobile apps.

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Banks Disburse Rs 7,500 Cr Under Credit Guarantee Scheme For Micro Finance Institutions

The scheme was announced by Finance Minister Nirmala Sitharaman in June as part of a Rs 6.29 lakh crore package to provide relief to various sectors affected by the second wave of the COVID-19 pandemic.

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JM Financial Announces Tranche I Public Issue Of Upto Rs. 500 Crore Of Secured, Rated, Listed, Redeemable NCDs

The Tranche I Issue offers 4 Series – Series I comes with floating interest rate option in the tenor of 39 Months.

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RBI Imposes Penalty On 2 Co-Operative Banks, 1 NBFC

A penalty of Rs 3 lakh has been imposed on Jijamata Mahila Sahakari Bank, Pune, Maharashtra for non-compliance with the directions on exposure norms and statutory/ other restrictions-urban co-operative banks (UCBs)

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PTC India Fin Services Q1 Net Jumps 72 % To Rs 45.60 Cr

Total expenses of the power sector NBFC stood at Rs 193 crore in April-June period of 2021-22, as against Rs 256 crore earlier.

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NBFCs' NPs To Rise 1% In FY22, Recast Loans To Double: Report

The credit cost could moderate in the next fiscal, provided there are no new surges in the infection rates

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Leadership Spotlight: Poonawalla Fincorp Boosts Its Position With Diverse And Experienced Leadership

To accelerate this transformation exercise, Poonawalla Fincorp has recruited industry veterans, both sharp-sighted and far-sighted, with a strong background of the BFSI market.

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Indian Govt Needs To Do More To Convince Banks, NBFCs To Lend To MSMEs: AIIB Senior Economist

The whole world is turning more protectionist and it is going to have long-term impact on the global recovery, he emphasised.

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Despite Lockdown Constraints, Issues At NCLT, India Saw Significant Investment

Domestic as well as international funds have been active in the market specifically distressed space. Despite the constraints of NCLT and lockdown India has witnessed lot of interest.

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Microfinance Loan Portfolio Grows 11.9% To Rs 2,59,377 Cr As On March-End: MFIN

NBFC-MFIs received a total of Rs 40,797 crore in debt funding which is 9.2 per cent higher than FY2019-20.

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RBI Issues Guidelines For Appointment Of Statutory Auditors Of Banks, NBFCs

Banks and UCBs will be required to take prior approval of Reserve Bank of India (RBI) for appointment/reappointment of SCAs/SAs, on an annual basis

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