Non-banking Finance Companies

Poonawalla Fincorp registers highest disbursement of Rs 6,370 cr in Q4 FY23

Adar Poonawalla-controlled non-banking finance company Poonawalla Fincorp on Wednesday said its total disbursement grew 151 per cent year-on-year to record Rs 6,370 crore in the March 2023 quarter. Its assets under management (AUM) increased by 37 per cent year-on-year and 16 per cent quarter-on-quarter to about Rs 16,120 crore at March-end 2023, despite a sharp reduction in the discontinued loan book, the company said in a regulatory filing. Discontinued onbook reduced to approximately Rs 625 crore at March-end 2023. "Total disbursements during Q4 FY23 were highest ever at approximately Rs 6,370 crore, up 151 per cent Y-o-Y and 89 per cent Q-o-Q compared to disbursements of Rs 2,539 crore in Q4FY22 and Rs 3,369 crore in Q3FY23," it said. Gross NPA and net NPA are expected to improve further to less than 1.55 per cent and 0.85 per cent, respectively, at the end of the last fiscal. The company said it would strive to maintain the NNPA below 1 per cent in line with its Management Vi

REC board okays Rs 1.2 trillion market borrowing programme for 2023-24

State-owned non-banking finance firm REC Ltd board on Thursday approved Rs 1,20,000 crore market borrowing programme for 2023-24 in its meeting. "Board of Directors of REC Ltd in its meeting held on March 9, 2023, inter-alia approved the market borrowing programme under different debt instruments for the financial year 2023-24," a BSE filing stated. REC will borrow Rs 1,20,000 crore from the market during 2023-24, which includes various types of bonds and loans (Rs 1,05,000 crore), short-term loans (Rs 10,000 crore) and commercial papers (Rs 5,000 crore), it added. The proposed borrowing programme for the financial year 2023-24 will be raised for different maturities, through different instruments, depending upon the actual requirement of funds, asset-liability position and prevailing market conditions, it stated.

Bajaj Finserv MF has the right muscle for top league, say analysts

Bajaj Finance has a retail presence that's unlike any other non-banking finance company

RBI seeks details of NBFCs' total credit to Adani Group of companies

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

Top headlines: GST council meet, non-BFSI Q3 profit shrinks, and more

Business Standard brings you the top headlines at this hour

Nine NBFCs may fall below minimum capital requirement in baseline scenario

The baseline scenario is projected for one year ahead, based on assumptions of business continuing under usual conditions

Prospects remain healthy for NBFCs, bank credit shows a strong trend

Topline growth should outweigh any pressure on margins

NBFCs need to be mindful of rising borrowing costs, says RBI report

'NBFCs need to be wary of rising borrowing costs as financial conditions tighten'

SFBs hope to give large private banks a run for their money: BFSI panelists

When we started five years ago, we thought it would be a marathon but it has turned out to be a steeplechase: Samit Ghosh

BS BFSI Insight Summit 2022: NBFC bigshots to speak on prospects ahead

From Ramesh Iyer, VC & MD at Mahindra Financial Services to Rakesh Singh, MD & CEO at Aditya Birla Finance, here is the list of panelists from NBFCs

NBFC-MFIs overtake commercial banks in micro loan market share in Q2

One reason for this shift in trend could be that banks faced challenges in managing this asset class, especially after the outbreak of the Covid-19 pandemic and the resultant lockdowns

Slippages from restructured NBFC book increased in H1FY23, says Icra

Write-offs remained elevated at 2.1 per cent for NBFCs and 0.5 per cent for HFCs in H1FY23

NBFCs' share in India's lending pie fell to 5-year low of 19.8% in H1FY23

The NBFCs share of the country's lending pie declined to five-year low of 19.8 per cent in the first half of FY23

Digital lending apps: RBI received 13,000 complaints against banks, NBFCs

The grievances, filed under RBI's integrated ombudsman scheme of 2021 between April 2021 and Nov 2022, also cite harassment by recovery agents

Curb on securitising short-term maturity loans may hurt micro loan biz

Change required by the central bank could make a certain portion of loan books ineligible for securitisation

Govt clarifies foreign funds can own over 51% stake in IDBI Bank

This comes ahead of the December 16 deadline for potential bidders to submit EoIs for picking up majority stake in the private sector lender

Shriram Finance turns India's largest retail NBFC after merger: Group

The company has net worth of Rs 40,900 crore and assets under management of Rs 1,71,000 crore

KreditBee raises $80 million in Series D from Premji Invest, others

The fintech firm aims to cross an AUM of over $1 billion in the next 6-9 months

Bajaj Finance raises interest on FDs of up to Rs 5 crore by 25 bps

Revised rates applicable on fresh deposits and renewals

Regulating NBFCs like banks to impair lending model: FIDC to FM Sitharaman

According to the memorandum, if NBFCs are to be regulated like banks, then the typical NBFC model of lending will suffer which will have an impact lending to the unbanked/ underbanked segment