Page 17 - Nbfcs

CII protests RBI rules on auditors, says will cause 'enormous difficulties'

The central bank has asked most banks and NBFCs to immediately appoint new auditors.

Second Covid-19 wave: NBFCs brace for defaults, grim business prospects

The collections are down as staff is not able to reach out to customers.

NBFCs had objected to RBI rules on auditor change, called for expert panel

The RBI had said in its guidelines that all banks and NBFCs, except non-deposit taking ones below Rs 1,000 crore, should change their auditors

Microfinancing lessons from a mandi that govt-run Mudra seems to have lost

MFI agents hand out 15-day loans in cash with a lecture on vaccines to the women, who would otherwise approach money lenders to buy vegetables in bulk and sell at the market next to the Ganga

NBFCs double-digit growth in Q2, Q3 of FY21 points to resilience: RBI

The profitability of the sector remained stable in the third quarter of FY2020-21.

Covid-19 second wave: Clamour for packages for banks and NBFCs grows

Senior bankers say the situation had become serious and it was tough to gauge the economic impact

Shriram Transport Finance aims 10-12% AUM growth in fiscal year 22

Shriram Transport Finance is a non-banking finance company

Reserve Bank to strengthen risk-based supervision of banks, NBFCs

The Reserve Bank has decided to review and strengthen the Risk Based Supervision (RBS) of the banking sector with a view to enable financial sector players to address the emerging challenges

Banks with assets of more than Rs 15,000 crore must hire two auditors

Any bank with a balance sheet of less than Rs 15,000 crore can have one statutory auditor. However, in all cases, concurrent auditors cannot be appointed as statutory auditors

NBFCs seek fresh debt recast as Covid-19 second wave wreaks havoc

Those who had availed themselves of the recast earlier should get a second chance, the Finance Industry Development Council said in a letter to the RBI

RBI issues guidelines for appointment of statutory auditors of banks, NBFCs

The Reserve Bank of India on Tuesday issued guidelines for appointment of statutory auditors of banks and non-banking finance companies (NBFCs), including housing finance companies

NBFCs are key to reaching underserved segments

Most small borrowers don't have other standard KYC documents and hence Aadhaar authentication becomes critical

DCB Bank acquires equity stake in Bengaluru-based Techfino Capital

DCB Bank Limited announced on Wednesday that it has acquired a minority equity stake of approximately 9% in Bengaluru-based NBFC company Techfino Capital Private Limited

IL&FS case complexities reveal what India's resolution mechanism is lacking

A stretched rescue process reveals critical deficiencies in India Inc's corporate layering and resolution mechanism worsened by the pandemic

Fresh, tailor-made stimulus package needed to fight second Covid wave

The impact of restrictions will be felt on retail loans-banks as well as NBFCs and HFCs

Covid-19 surge may hit securitisation in the near term, says Crisil

FY21 volumes below Rs 1 trn as against Rs 1.9 trn in FY20

NBFCs seek extension of MSME restructuring scheme till March 2022

NBFCs have requested the Reserve Bank to extend the one-time restructuring scheme of MSME advances till March 31, 2022, as these players are unable to revive their businesses

Piramal aims to be among top-5 NBFCs in retail space after DHFL deal

Piramal Retail Finance on Thursday said it aims to focus on scale

Financiers buy into India's used car business amid uptick in demand

An expansion of demand driven by economic uncertainty has accelerated the plans of organised players to tie up with banks and NBFCs

Gold price fall not a worry for NBFCs, but banks need to be watchful

The correction in gold prices in recent months is not expected to materially impact the asset quality of non-banking financial companies (NBFCs) lending against gold: Crisil