The anchor bid for the loan portfolio, which comprises 15,096 accounts, translates into a recovery of 9.08 per cent on the outstanding portfolio
The firm has a presence across 16 states with over 400 branches. Its current assets under management are pegged at Rs 3,000 crore
Toll road operator is under insolvency resolution regime
Ban includes 2 micro lenders, comes into effect from October 21
Biz2X, a digital lending SaaS platform and subsidiary of Biz2Credit, on Tuesday said it has surpassed Rs 9,000 crore mark in loan disbursements. One of the company's key growth drivers is its AI-integrated digital lending platform, DigiKred, which plays a pivotal role in optimizing lending functions for Indian lenders. The platform is expected to facilitate an additional Rs 5,000 crore in loan disbursements by the end of FY2025, further scaling the platform's reach and impact across the financial ecosystem, the company said in a release. Th company has seen a consistent year-over-year growth rate of nearly 30 per cent. In addition to its technology, Biz2X's growth is powered by strategic collaboration with some of the most prominent financial institutions in India. "Financial institutions, in turn, benefit from the platform's advanced technological infrastructure including some ground-breaking AI innovations, which help them offer faster, more reliable lending solutions to their
Gross non-performing assets ratio for the banking system is set to improve to a decadal best of 2.5 per cent in 2024-25, domestic rating agency Crisil said on Tuesday. It, however, flagged concerns around unsecured exposures like personal loans and credit cards, and also the microfinance (MFI) loans made by lenders, pointing out that the segments are witnessing a surge in stress. Credit growth is expected to moderate to 14 per cent in FY25 from 16 per cent in FY24 on the back of lower economic growth expected at 6.8 per cent as against 8.2 per cent in FY24, and the regulatory restrictions through interventions like higher risk weights on unsecured lending which has made lenders cautious, the agency said. Its senior director and chief ratings officer Krishnan Sitaraman, however, told reporters that the 14 per cent credit growth will place FY25 as the third fastest year over the last decade. GNPAs, which have led to setbacks for the system in the past and have shown a considerable ..
The survey found that gold and property are the two most favoured assets when women entrepreneurs seek loans. The trend is most prevalent in Chennai, followed by Mumbai and Delhi
In FY24, credit card spending grew by 27.8 per cent; in FY23, spending was up 47.5 per cent; and it was 54.1 per cent in FY22
Money can put a strain on new marriages, so couples must be open about their financial situation and work together towards goals
The signs of a slowdown in disbursements come nearly one year after the Reserve Bank of India (RBI) hiked risk weights on unsecured loans
Days after the Himachal Pradesh Cabinet approved to extend benefits of the Dr YS Parmar Vidyarthi Rin Yojna to overseas education, Chief Minister Sukhvinder Singh Sukhu on Sunday said a detailed standard operating procedure (SOP) will be issued in this regard soon. The state cabinet on Friday decided to expand the scope of the scheme, under which educational loan of up to Rs 20 lakh is provided at one per cent to eligible students aspiring to pursue professional and vocational courses, to include overseas educational institutions. On Sunday, Sukhu said that this initiative will benefit students aspiring to pursue higher studies in foreign institutions, ensuring that financial limitations do not stand in the way of their educational aspirations. A detailed SOP will be issued in this regard by the education department soon, he added. The state government launched the loan scheme last year to support the eligible meritorious students of economically weaker sections. Students from ...
The company would also participate in affordable housing loan schemes of governments
The 20-month old financial institution, which has been created to focus on infrastructure funding, has assessed 200 projects and is planning to sanction $26.5 billion in loans over two years
Earlier on Thursday during the Assembly session, CM Sukhu said that the financial condition of the state is not good
The loan amount of Rs 26,223 crore was disbursed in Q1 FY24-25 through 56.8 lakh accounts, including disbursement of owned as well as managed portfolios
Growth in personal loans down sharply
Asset portfolio shrinks sequentially; growth seen moderating by 2-3 percentage points in FY25
Around 30% of Indians are unable to afford home loan EMIs at current rates, says G Hari Babu
We don't set up physical branches, and this allows us to reach more locations compared to the larger banks and NBFCs, he says
The Financial Stability Report of June 2024 has it that delinquency levels among borrowers with personal loans below Rs 50,000 remain high