SME Lending

Non-banking financial company Namdev Finvest, which focuses on small business lending, on Tuesday said its assets under management have almost doubled to cross Rs 1,200 crore during 2023-24 fiscal. The Jaipur-headquartered company posted a growth of 92.62 per cent in AUM (asset under management) during fiscal 2023-24, with its net worth reaching Rs 410 crore. Namdev expanded its presence across eight states -- Rajasthan, Gujarat, Madhya Pradesh, Uttar Pradesh, Delhi, Haryana, Punjab and Uttarakhand. The company has secured a total funding of USD 41.5 million up to this point, with a USD 19 million of fundraise from Maj Invest in its latest round of Pre-Series C in April this year. Operating through 100-plus branches spanning across eight states in northwest India, the NBFC employs touch and technology (Phygital) loan approval and disbursal system, said Jitendra Tanwar, Managing Director and CEO of Namdev Finvest. "Until now, we have disbursed over 50,000 loans ranging from Rs 4,00

Eyes a size of Rs 50,000 cr in five years; plans to infuse Rs 1,200 cr capital in current fiscal

The transfer, via a slump sale is subject to shareholders, statutory and regulatory approvals. Centrum has indicated the transaction would be completed in two months

Tide to help Indian small businesses across organized, unorganized and unregistered sectors

Stress on the asset quality front is at a multi-quarter low; bank ups PCR to 90 per cent

In addition, there's also growing stress in the bank's SME (small and medium enterprise) loans, a segment which was fast growing until FY20

While corporate loans shall be restructured, retail and SME loans are at lenders' discretion

Company's business has come back to 70% of pre-Covid level now

Banks disbursed Rs 17,007 crore loans to the SME segment in last financial year, which is 161% higher, compared to just Rs 6,507 crore lent in the previous year