Page 11 - Finance Sector

5Paisa Capital posts fourth quarter net profit at Rs 6.21 crore

The total income rose by 41 per cent to Rs 49.9 crore for the quarter under review

HFCs loan book to grow 8-10% in FY22, stress levels to stay elevated: Icra

While HFCs are expected to regain their profitability and growth trajectory in FY22, rising Covid-19 infections and localised lockdowns remain a concern area

Bajaj Finance: Signs of full-blown recovery aren't convincing enough

Pace of new customer addition up in Q4, though new loans acquired lags year-ago level

Consumer financier Bajaj Finance's asset under management grows 4% YoY

In Q4FY21, it booked 5.5 million new loans, down almost 9 per cent sequentially and 8 per cent YoY

Maharashtra govt approves Rs 231 crore for assistance to tribal families

The Maharashtra government has approved a sum of Rs 231 crore for disbursal to tribal families in the state under its 'Khavti' grant scheme.

NBFCs seek easing of rules on NACH mandate cancellation

NBFC industry body says this facility should work on "best effort" basis and not be made mandatory as most customers are not tech-savvy and are not comfortable with electronic platforms

NeoGrowth to raise Rs 500 crore, names Rahane its brand ambassador

The company, which lends to small businesses, mostly retail service units including shops, has assets under management of around Rs 1,350 crore

Credit Suisse overhauls asset management under regulatory glare

Credit Suisse shares were up 1.5% in early trade

Share of wages in industry GVA is highest since 1992-93, shows data

Imputed cost of finance to industry rose, share of profits in GVA fell in 2018-19

PM harps on trust and transparency for depositors, investors in fin sector

Says banking sector was badly hit 12 years ago due to aggressive lending; but now instead of brushing NPAs under the carpet, it is mandatory to report even one-day defaults

BS READS: Some mistakes India must avoid this time to make DFIs a success

Now that DFIs are making a comeback, three key issues will be crucial for their success -the availability of long-term funds at a reasonable cost, private-sector ownership, and professional management

Reimagining the DFI: The role has to be thought through creatively

It was clear even when the business blueprint of IDFC Ltd was being drawn up that a model based on a DFI which floated bonds (retail or wholesale) may not work

RBI move to harmonise MFI norms to improve sector competitiveness: Ind-Ra

Rating agency urges level-playing field for finance cos

FY22 disinvestment target at Rs 1.75 trn; financials a strategic sector

This includes two PSU banks and one general insurance company, in the next fiscal year beginning April 1

How KKR's big bet on India credit became a cautionary tale for investors

Rocked by the shadow-banking crisis in India, KKR's local credit unit lost $207 million in the final nine months of 2019, wiping out nearly 40 per cent of its capital

Private placement of debt hits all-time high of Rs 7.77 trn in 2020

Fund mobilisation through corporate bonds via the private placement route hit an all-time high in 2020

ICICI Securities third quarter net profit up 95% to Rs 267 crore

The firm saw growth in revenue and improvement in margins

Tightening revenue deficit doesn't seem the right course: NIPFP director

For the next year, a high buoyancy and a positive growth should increase fiscal space, says Chakraborty

India Ratings takes 3 finance firms off rating watch negative list

MMFSL maintained sufficient liquidity buffers to make timely debt repayments, even when collections declined

GST rates can be reduced further once tax base increases: Finance Secretary

"Once the tax base increases and if we are able to enforce our tax laws and everyone pays taxes properly, there will be definitely scope for further reduction of taxes."