Page 3 - Nbfc

RBI hikes repo rate by 40 bps: Analysts see muted impact on banks' NIM, PAT

Non-bank finance companies (NBFCs), however, may feel more heat, except those engaged in mortgage financing

Reserve Bank of India's latest norms won't be disruptive to NBFCs

Intend to narrow regulatory arbitrage between banks and shadow banks

Debt quality index gains nearly three point to close FY22 at 92.24

The better show was largely driven by enhancements in rated debt of higher-rated entities and reduction in debt of a large defaulting NBFC on recast

IIFL Finance buys back overseas bonds worth $50 million

Non-banking finance company IIFL Finance on Tuesday said it has bought back USD 50 million worth of overseas bonds with funds raised through a loan from a global bank

U GRO's public issue of bonds opens on Thursday to raise up to Rs 100 cr

U GRO Capital, a non banking financial company focused on small and medium enterprises, on Tuesday announced opening of public issue of bonds later this week to raise up to Rs 100 crore

For FY23, State Bank of India eyes Rs 10K-cr loan book via co-lending

The bank is roping in an IT vendor for building a digital interface platform for co-lending to manage risks, accounting, reconciliation, minimise physical interface and reduce defaults

Sanjiv Bajaj on taking business to the next level of digitisation

In an interview with Business Standard's Surajeet Das Gupta, chairman and managing director of Bajaj Finserv, Sanjiv Bajaj, shares how he plans to take financial service business digital. Listen in

NBFC biz to return to normal, FY23 loan growth pegged at 14%: India Ratings

These companies are likely to begin FY23 with sufficient capital buffers, stable margins and sizable on-balance sheet provisioning, while adequate system liquidity would aid funding

RBI cancels PC Financial Service's certificate of registration

The company violated the central bank's directions on outsourcing and KYC norms and was also found to be charging very high interest rates and other charges from its borrowers

NBFC shares rise as RBI extends NPA norms compliance date

Shares in the NBFC space have shown a healthy gains on Wednesday as the RBI provided an extension for the implementation of the new NPA rules.

New prudential norms: NBFCs get some leeway on bad loans classification

The Reserve Bank allowed some relaxation in the stricter prudential norms announced for all lenders, including shadow banks

Zomato to invest $400 mn in quick commerce over next two years

Foodtech firm will also set up NBFC to disburse credit to customers, restaurants and food delivery workers

Ola eyes NBFC acquisition to expand financial services business

Ola will leverage the acquisitions to provide vehicle financing as well as personal loans, they said

Seizure of Rs 288-cr funds of Chinese-owned NBFC ordered

The NBFC was providing instant personal micro-loans through its mobile application called 'Cashbean' for suspicious foreign outward remittances, says ED

Housing finance players loan portfolio to grow at 8-10% in FY22: Report

Going forward, the growth trend is expected to continue, driven by healthy demand in the industry, increasing level of economic activity and increasing vaccination in the country, Icra ratings said

Mahindra Finance aims to reduce its net NPA below 4% by March-end

Non-banking financial company Mahindra and Mahindra Finance is aiming to reduce its net non-performing assets (NPA) ratio to below 4 per cent by March-end. In the quarter ended December 31, 2021, the company's net NPA (stage 3 assets), stood at 5.63 per cent (as per IND-AS accounting norms). Under the Reserve Bank of India's Prudential Norms on Income Recognition, Asset Classification and Provisioning pertaining to Advances (IRACP), released in November last year, its net NPA was at around 11 per cent in the third quarter of the current fiscal. Its Vice-Chairman and Managing Director Ramesh Iyer said the company is committed to reducing net NPAs to below 4 per cent under IND-AS and below 6 per cent under IRACP, by March-end. The non-bank may be required to make an additional provision in the range of Rs 500 crore to Rs 1,500 crore in Q4 FY22 in order to bring the net NPA below 6 per cent under IRACP norms. Its gross NPA as per IND-AS was at Rs 7,223 crore (11.30 per cent) and unde

ED attaches funds of NBFC in Chinese-funded instant loan apps probe case

It said a provisional order was issued under the Prevention of Money Laundering Act (PMLA)

NBFCs to witness revival in growth this year; may see slight uptick in NPAs

Non-banking financial companies (NBFCs) showed resilience in 2021 despite the coronavirus pandemic woes and are expected to witness continued momentum in growth this year

NBFC sector expected to remain buoyant, says RBI report

The pandemic has tested the resilience of NBFCs, but so far, the sector has emerged stronger: Report

RBI refuses to relax asset classification, provisioning norms for NBFCs

This will give rise to bad debt numbers of such para banks on technical grounds while making asset quality norms standardised across banks and NBFCs