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Latest Articles in nbfcs

Collection Efficiency Of NBFCs Retail Pool Down By 10-35 % In May Vs March: Icra

The decline has been sharpest for microfinance pools where monthly collection efficiency (including advances and overdue collections) was lower by 35 per cent in May 2021 compared to March 2021

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Non-Food Bank Credit Grows At 5.9 % In May: RBI Data

Credit growth to micro and small industries accelerated to 5 per cent in May 2021, as compared to a contraction of 3.4 per cent a year ago, while credit to large industries contracted by 1.7 per cent in May 2021

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NBFCs' Dud Assets To Further Deteriorate In FY22: ICRA

The NBFCs sector will require about Rs 2 lakh crore of additional funding if it was to meet the envisaged growth, the agency said, underlining that capitalisation and liquidity profile remain a silver lining for the sector.

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FIDC Seeks Liquidity Support For NBFCs For On-Lending To MSMEs

With the changing economic environment and the associated developments, NBFCs, especially, small and medium sized ones, are facing liquidity crunch.

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RBI Has Taken Steps To Smoothen Impact Of Second COVID Wave, Says Deputy Governor Jain

Observing that the COVID-19 second wave has some challenging aspects, he said both the RBI and the government are dealing with this and taking steps to smoothen the impact on the financial system.

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Poor Women Who Had Taken Loans From MFIs Will Get Relief & Incentives: CM

The outstanding loan has come down as MFIs had flouted the norms set by the Reserve Bank of India (RBI) and these include giving a loan of over Rs 1.25 lakh to one group or giving more than one loans to one person or group

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SBI To Sell Two NPA Accounts Next Month To Recover Dues Of Rs 60 Cr

The reserve price for these non-performing assets (NPAs) for the purpose of sale has been fixed at Rs 17.19 crore and Rs 10.50 crore

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Retail Loan Repayments See Sharp Decline Across Structured Fin Pools In April: Report

Housing loans and loans against property have remained the least impacted and most resilient as was seen last fiscal given the association of the borrower with the underlying collateral and the priority given by borrowers to repay such loans

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RBI Extends Risk-Based Internal Audit System To HFCs

The provisions will apply to all deposit-taking HFCs, irrespective of their size, as well as non-deposit-taking HFCs with asset size of Rs 5,000 crore and above

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AI-Driven Solution For Debt Recovery

Creditas Solutions offers a digital debt collection and loan recovery platform for banks and financial institutions

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SBI Invites Bids From Arcs For Two Accounts For Recovering Rs 409 Cr

Kamachi Industries has an outstanding of Rs 355.93 crore against the bank and Tantia Agrochemicals owes Rs 53.52 crore.

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ICAI Says Reserve Bank's New Auditor Norms To Enhance Audit Quality

ICAI has always stood for joint audit as the concept has always worked well for improving audit quality and reliability apart from having fresh perspective from new firms.

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NBFCs Double-Digit Growth In Q2, Q3 Of FY21 Points To Resilience: RBI Article

The profitability of NBFCs dipped in the immediate aftermath of the COVID-19 in the first quarter of 2020-21, as businesses suffered economic losses due to nation-wide lockdowns.

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RBI Amends KYC Norms To Further Leverage Video-Based Customer Identification Process

REs may also undertake V-CIP for conversion of existing accounts opened in non-face to face mode using Aadhaar OTP based e-KYC authentication, and updation or periodic updation of KYC for eligible customers.

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RBI To Strengthen Risk-Based Supervision Of Banks, NBFCs

A technical advisory group consisting of senior officers of the RBI would examine the documents submitted by the applicants in connection with EOI.

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