Page 8 - Finance Sector

STFC not considering increase in lending rates: Company vice-chairman

It will be 'nimble-footed' as a NBFC and not seek a banking license, says Umesh Revankar

Extend GST compensation to states by 3-5 yrs more: Amit Mitra to Sitharaman

Unforeseen battle against pandemic has put states' fiscal health under huge stress, he says in letter to FM

With earnings risk, valuations aren't really compelling: Edelweiss Fin head

In a Q&A, Aditya Narain says India's valuations have come off but are still more expensive than other markets. Also, downward pressure on earnings makes the environment uncertain

Fintech has potential to transform India's financial landscape: MoS Finance

Industry looks at credit card penetration as a key growth driver in future

RBI lists rules for provisioning by NBFCs on advances to hsg, realty, SME

Rules apply to 'upper layer' of finance firms specifically identified by the central bank for enhanced regulatory requirements.

PayMate India files papers with Sebi to raise Rs 1,500 cr through IPO

The initial share-sale comprises fresh issue of equity shares worth Rs 1,125 crore and Offer-for-sale (OFS) of Rs 375 crore by promoters, investors and other shareholders

Hasmukh Adhia panel suggests Gujarat reorient budget towards services

State must increase spending on tourism, IT, financial services, education and sports.

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Equitas SFB, Equitas Holdings okay scheme of amalgamation

The boards of Equitas Holdings and its subsidiary Equitas Small Finance Bank (ESFBL) have approved their merger plan, according to regulatory filings

Finance ministry asks ministries to surrender savings by March 21

The finance ministry has asked departments and ministries to surrender savings, if any, for the current financial year 2021-22 by March 21.

PNB Housing Finance board to take call on fundraising on Mar 9

PNB Housing Finance had decided to sell a part of its stake to a group of investors led by private equity firm Carlyle in May

Maintain constant vigil on financial sector: FM Sitharaman to regulators

The Financial Stability and Development Council (FSDC) meeting attended by various financial sector regulators comes against the backdrop of rising tension between Russia and the US over Ukraine

RBI regulatory review body wants 100 circulars withdrawn to ease compliance

Advises separate web page for regulatory reporting

Asset quality issues to affect realty-focused non-banks till FY23: Study

The real estate AUM of non-banks contracted by 17.64 per cent to Rs 2.8 lakh crore as of March 2021 from Rs 3.4 lakh crore as of March 2019

IFC will continue to raise annual India investments: South Asia Director

In a Q&A, Hector Gomez Ang asserts that the institution's India portfolio has delivered strong development and financial returns despite Covid-19

Dubai and India's financial regulators seek closer cooperation

Dubai's financial regulator and India's International Financial Services Centre Authority have signed a memorandum of understanding to increase supervision, enforcement and oversight on companies

Home First Finance reports multifold jump in profit to Rs 46 cr in Dec qtr

The Company had posted a net profit of Rs 16 crore during the year-ago quarter of December 2020

L&T Finance Holdings looks to hike retail share to 80% by FY26

To ramp up its capacity to face asset quality pressures, LTFH aims to increase provision coverage ratio to 60 per cent by FY26

L&T Finance Holdings' net profit rises 12% to Rs 326 cr in Dec quarter

L&T Finance Holdings on Friday reported a 12 per cent increase in its net profit to Rs 326 crore for the quarter ended December 2021. The non-banking finance company (NBFC) had registered a net profit of Rs 291 crore in the year-ago period. In a statement, the company said it witnessed strong improvement in disbursements and collections in Q3FY22, and witnessed an all-time high retail quarterly disbursements of about Rs 7,600 crore, up by 29 per cent from a year ago. Total income during the October-December 2021 period, however, was down at Rs 3,099 crore, as against Rs 3,504 crore in Q3FY21. "The period saw businesses returning to pre-COVID-19 levels despite industry de-growth during the festive season. "In our retail businesses of farm and two-wheeler finance, we maintained business momentum as a leading retail financier with a stable market share, owing to our digital and data analytics capabilities," Dinanath Dubhashi, managing director and CEO of L&T Finance Holdings, ...

Spandana Sphoorty posts loss of Rs 58.8 crore for September quarter

It had posted a net profit of Rs 62.95 crore in Q2FY21