NBFCs

A shakeout among fintech firms is very likely, as the stress on governance and compliance is set to go up many notches

SBI, Indian Bank, UCO Bank, Bank of Maharashtra, Punjab & Sind Bank, Canara Bank and Punjab National Bank from the PSU banks were up in the range of 1 - 3 per cent.

The move is expected to create a big player in segments including the NBFC (non-banking financial company) space with net worth of Rs 25,851 crore as of March 2022.

Increased competition, lower spreads, moderate growth are among hurdles to overcome

"Multiple people have shown interest (in Shriram Housing Finance), including the who's who of the private equity world"

First-time customers are emerging as a huge catchment area for retail finance, but dangers lurk in the nooks and crannies

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While credit growth has moderated from 16.5% in mid-January, it is significantly higher than the year-ago period, when it was hovering at around 9 per cent

Refusing to defreeze the accounts and set aside the show-cause notice issued to a Kerala-based loan app company, the High Court of Karnataka has cautioned against such apps owned by Chinese entities and individuals which are used to destabilise India. In a recent judgment, Justice M Nagaprasanna, while rejecting the petition of Inditrade Fincorp Ltd, registered in Kochi, said, "It is in public domain that several borrowers have committed suicide unable to bear the harassments of the representatives of such loan apps. The office-bearers of several of these companies which control and operate such mobile loan apps are said to be entities of China or individuals from China sitting as directors of such mobile loan apps. Therefore, it becomes necessary for an investigation, in the least to be conducted of any such company who would operate such loan apps and has transactions between each other." Refusing to stall the investigation against the company, the HC said, "The investigation woul

Move the first after the introduction of scale-based supervision for NBFCs on October 1, 2022

Retail trade, NBFCs drive credit growth in services

The central bank's Department of Supervision sought this information over the past week, and the deadline for submission of large exposure was on Monday, informed a source

The interest income expanded by 25% YoY to Rs 2,414 crore and sequentially, it rose 9.7% from Rs 2,201 crore in Q2FY23

Moneyboxx started operations in February 2019 and it currently has 54 branches spread across six states - Rajasthan, Punjab, Haryana, Madhya Pradesh, Chhattisgarh and Uttar Pradesh

Threat to data privacy and cybercrimes are among risks for digital lending: Survey

A day after the Reserve Bank delivered another rate hike, a domestic ratings agency on Thursday said the increases will not impact collection efficiencies for non-bank lenders. This is so primarily because of the collaterals given by borrowers and the priority they accord to repayments, Icra Ratings said. The RBI has hiked rates in five consecutive policy reviews since May 2022 in order to curb inflation, which has led to an overall jump in the interest rates in the system. The agency said typically housing loans and loans against property pools carry interest rate risks. "... the continuation of rate hikes will not have a significant bearing on the collection efficiencies given the association of the borrower with the underlying collateral (residential properties) and the priority given by borrowers to repay such loans," it said. The agency added that the collection efficiency is expected to remain robust on the back of strong outlook for majority of the sectors though impact of

The Reserve Bank of India gave a list of apps, which were working with non-bank lenders registered with the central bank, to the government ahead of the ban imposed on some apps earlier this week, officials said on Wednesday. "We have given a list of apps which work with NBFCs (non-banking finance companies) to the government. On that basis, the government has taken this step," Governor Shaktikanta Das told reporters here. Earlier this week, the Ministry of Electronics and Information Technology banned 94 loan apps, which included entities not connected to China as well. It included some apps involved in what reports described as predatory lending with unfair terms, which led to a debt trap for the borrowers. The list of banned apps include 'Buy Now Pay Later' (BNPL) apps such as LazyPay and Kissht. Das said the RBI sought a list of apps the NBFCs registered with it work with, adding that this was done because "there are many illegal and illegitimate apps" which promise to lend by

Investor lent Rs 3,000 crore to property developers last year

Since the collapse of IL&FS in 2018, the RBI has been gradually tightening the regulatory framework for NBFCs

Strong performance across businesses help 40% YoY growth in lending book