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Latest Articles in nbfc

RBI Cancels Registration Certificate Of Four NBFCs

"The Reserve Bank of India, in exercise of powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934, has cancelled the Certificate of Registration of the following companies," the RBI said in a statement

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How NBFCs Are Aiding The Growth Of Micro Entrepreneurs

Banks have not been able to cater to the funding requirements of micro enterprises and fill the INR 5 trillion credit deficit facing the sector

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RBI Halts Credit Lines To Non Bank Financers

This comes at a time when we are witnessing a boom in startups as well as existing companies providing credit and buy-now-pay-later facilities

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NBFC-retail's AUM Likely To Grow 5%-7% In FY22, 8%-10% In FY23: Report

The asset under management (AUM) of non-banking financial companies (retail) is expected to grow 5-7 per cent in fiscal 2022 and 8-10 per cent in fiscal 2023, according to a report

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Ola Eyes NBFC Acquisition To Expand Financial Services Business

It is now projecting a Gross Written Premium of over Rs 1,000 crore in 2022 and will add multiple new offerings including an insurance marketplace for gig economy workers beyond its driver-partners.

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Icra Revises AUM Growth Outlook For Retail NBFCs To 5-7% From 8-10% In FY22

The agency said the growth outlook would be exposed to downside risk in case of significant disruptions caused by the new wave of infections in Q4 FY2022.

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NBFC Sector Expected To Remain Buoyant As Economy Revives: RBI report

The NBFC sector emerged stronger with reasonable balance sheet growth, increased credit intermediation, higher capital, lower delinquency ratio and enlarged liquidity cushions, the report said.

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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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