NBFC Sector

Speaking on the overall performance, the management said that the company's performance in FY22 and 9MFY23 reflected deep commitment to customers

According to the memorandum, if NBFCs are to be regulated like banks, then the typical NBFC model of lending will suffer which will have an impact lending to the unbanked/ underbanked segment

The finance ministry is yet to confirm their participation and draw broad contours of the bond issuance

NBFC has more than Rs 2,600 crore in AUM and it has some 200 branches

Tata Sons will have to appoint a new chief compliance officer (CCO)

Experts had pointed out that in light of these directions against one entity, recovery activities of NBFC sector could get impacted as a majority of NBFCs rely on outsourced agents for loan recovery

Officials said further investigation revealed that other insurance companies and NBFCs also exploited a similar route to avail of ineligible ITC

According to CARE Ratings, upgrades in rated debt can be attributed to higher demand with the economy opening up after lockdowns, releasing pent-up demand, and lower cost of capital

Employee costs rose over 12% in FY22, the fastest in 8 years

Modifying its earlier order, the finance ministry has permitted state-owned NBFCs to issue 'Letter of Comfort (LOC)' to banks for for fund tie-up for infra projects. Earlier in March, the finance ministry had asked other ministries and departments not to issue 'Letter of Comfort' to any hired entity for undertaking projects on their behalf, as part of efforts to improve transparency in fiscal management. "In view of the foregoing and considering that the CPSE-NBFCs are important players in the infrastructure sector, it has been decided that CPSE NBFCs may issue LOCs," an office memorandum issued by the finance ministry dated June 10 said. The memorandum posted on the the finance ministry website on Monday laid down certain conditions which include that lender should be a NBFC (Non-Banking Finance Company) registered with RBI. NBFCs should be involved in infrastructure sector and LOCs should be provided by banks only for opening letter of credit for supply of goods and services by .

The company, which has operations in Uttar Pradesh, Haryana and Rajasthan with 24 branches in Tier 2 and 3 towns, completed disbursement of Rs 50 crore worth loans on Wednesday

Capex loan sanctions still in negative territory

Shriram Transport Finance is a non-banking finance company

SIDBI and Equifax launched the second edition of "Fintech Pulse", a quarterly publication highlighting key trends of NBFC fintech segment

RBI's loan restructuring will soften the blow on reported GNPAs but the underlying challenges will continue

The RBI on August 6 revised norms for opening of current accounts by banks, in order to strengthen credit discipline

Despite the opportunities, KKR has suffered setbacks in India, where a long-running shadow banking crisis followed by the devastation of the pandemic has crippled the economy

The fiscal deficit of the Central government is likely to increase to 6.6 per cent of GDP in FY20/21 and is expected to remain elevated at 5.5 per cent in the following year, says the report

Taking advantage of low rates overseas and relatively relaxed norms by the Reserve Bank of India (RBI), Indian companies are lining up to raise resources abroad

The issue of financial stability in monetary policy has always been an unsettled issue, ever since the global financial crisis