The reversal in risk weights on MFI loans from 125 per cent to 100 per cent and 75 per cent will help reduce risk weighted assets or RWAs for banks
Following the increase in risk weights, bank loan growth to shadow banks fell sharply
The provisions and write-offs of these MFIs jumped to Rs 2,357 crore in Q3fy25 from Rs 378.1 crore a year ago
RBI's punitive actions over the last year have encompassed both banks and non-banks
While lenders offer fixed rate auto loans, unsecured personal loans, not many banks and NBFCs have fixed rate products for home loans
In December, the restriction was lifted for Navi Finserv, and this month, it was removed for the remaining three NBFCs
High interest rates and tighter regulations have been cited as contributors to weak demand and a slowdown in India's economic growth
On October 17, the regulator directed four non-banking finance companies (NBFCs) to cease and desist from sanctioning and disbursing loans
The Rs 3,000 crore equity infusion into SMFG India Credit includes Rs 300 crore investment into its wholly owned subsidiary - SMFG India Home Finance
Business Standard BFSI Insight Summit 2024: Industry experts share insights into reach, regulatory pressures, growth opportunities for non-banking financial companies, microfinance institutions
Chandra began his banking career with Erstwhile Corporation Bank in September 1991 as a probationary officer. He holds a master's degree in economics
The Union Government has released the first instalment of the 15th Finance Commission grants for 2024-25 to Rural Local Bodies (RLBs) in Andhra Pradesh and Rajasthan, the panchayati raj ministry said in a statement. Andhra Pradesh has received untied grants amounting to Rs 395.50 crore and tied grants totalling Rs 593.26 crore. These funds are for duly elected nine eligible district panchayats, 615 eligible block panchayats, and 12,853 eligible gram panchayats in the state. In Rajasthan, untied grants of Rs 507.11 crore and tied grants of Rs 760.67 crore have been released for the duly elected 22 eligible district panchayats, 287 eligible block panchayats and 9,068 eligible gram panchayats. The untied grants will enable panchayats to address specific local needs across 29 subjects under the 11th Schedule of the Constitution, ranging from agriculture and rural housing to education and sanitation. These funds, however, cannot be used for salaries or establishment costs. The tied gra
The latest round of funding comes eight months after the company raised $37 million in a Series F round
Resource mobilisation challenge, regulatory nudge to weigh on growth
Manappuram Finance, Muthoot Finance and state-run REC are aiming to issue benchmark-sized bonds, which means the issuance will be around $500 million each, the three bankers said
The Indian government owns infrastructure financial institutions but no other state-run company has created a unit to help it finance projects
The current MD & CEO of the company, Abhay Bhutada, has been elevated to a group-level role
Digital non-banking finance company Credit Saison (CS) India on Tuesday said Japan's Mizuho Bank has acquired 15 per cent stake in it for Rs 1,200 crore. This is Credit Saison's first investment from an external investor, a statement from CS India said. This strategic investment will enable CS India to continue its journey towards becoming a well-diversified, resilient lending franchise with a focus on growth and profitability, the statement added. CS India received its (Non-banking Finance Company) NBFC licence in September 2019 from the RBI and focussed initial operations in wholesale lending and tech-integrated partnerships with other NBFCs and fintechs. Later, it expanded into retail lending through partnerships. Currently, it has 1.2 million active loans worth over Rs 10,000 crore, Presha Paragash, chief executive of CS India said. Mizuho Bank is the retail and corporate banking unit of Mizuho Financial Group while CS India is the domestic arm of Saison International, one of
Sequentially, Poonawalla Fincorp's AUM expanded by 8 per cent over in the second quarter ended September 2023
NBFC reported 26% rise in new loans during the December quarter