The biggest gains came to banks, which reported a 35.8 per cent YoY growth rate in their combined net profit in Q2 FY23
The IPO comprises a fresh issue of equity shares aggregating to up to Rs 750 crore and an offer-for-sale (OFS) component aggregating up to Rs 850 crore by promoter selling shareholders
In October 2022, Mahindra Finance estimates the total disbursement of approximately Rs 5,250 crore, thus delivering 97 per cent growth over October 2021.
Murugappa group's financial services unit says bad loans are down and it expects AUM to grow 25% this financial year
Max Life bucks trend with 11% YoY growth in retail protection APE in Q2
Non-banking finance company Sundaram Finance Ltd has revised the interest rates on term deposits for tenures of one to three years with immediate effect, the company said on Sunday. Accordingly, the interest rates for deposits of up to 12 months has been increased to 6.65 per cent, for 24 months it has been hiked to 7 per cent, the company said in a statement. For tenures of up to 36 months, the interest rates have been increased to 7.30 per cent. Senior citizens would get an additional interest of 0.35 per cent for one year at 7 per cent, 7.35 per cent for tenures up to two years and 7.65 per cent for tenures up to three years. The company said its deposit balance stood at Rs 4,219 crore.
Has asked them to insert penalty cause for repeated breaches
DIPAM invites EoIs; last date to submit bids is Dec 16
Tata Sons will have to appoint a new chief compliance officer (CCO)
With low NPAs and high provisions, time ripe for global standards: Bankers
Credit growth to the services sector accelerated to 17.2 per cent in August 2022 from just 2.1 per cent a year ago. It was mainly due to improved credit off-take to NBFCs and trade sectors.
HDFC, although qualified to be in the upper layer, has been kept out of the list as it is merging with HDFC Bank
Experts had pointed out that in light of these directions against one entity, recovery activities of NBFC sector could get impacted as a majority of NBFCs rely on outsourced agents for loan recovery
Under the new mechanism, non-banking finance companies (NBFCs) are providing up to Rs 8 lakh on a margin amount of Rs 2 lakh for a flat fee of Rs 2,000, said industry sources.
Moreover, as lenders will not deploy their own staff for such activity, their operation costs may go up, said experts
Lenders needed time to make policy changes after norms were updated in March 2022, says industry group
Says credit profile reflects strengths like large and diversified economy, but warns that country is highly exposed to climate change events
Digital lending involves giving and recovering loans through web platforms or mobile apps. Here are the new regulations and why they have been introduced
Minimum net-owned fund mandated at Rs 100 crore; cards cannot be unilaterally upgraded.
RBI postponement of timeline for adhering to new NPA norms, greater economic activity likely to act as tailwinds, says rating agency