Realty, airline, and new-age businesses still struggling to make money
The Reserve Bank of India (RBI) on Friday said 15 NBFCs, including Tata Capital Financial Services and Revolving Investments, have surrendered their certificates of registration due to various reasons. Nine Non-Banking Financial Companies (NBFC) have ceased to be legal entities due to amalgamation, merger, dissolution, or voluntary strike-off. These are Tata Capital Financial Services, Tata Cleantech Capital, Naperol Investments, USG Financial Services, Urja Capital, Vandana Dealers, ABRN Finance, Jodhani Management, and JDS Securities. The RBI further said six NBFCs surrendered their certificate of registration after exiting from Non-Banking Financial Institution (NBFI) business. These were Vian Growth Capital, Drap Leasing and Finance, Jewel Strips, Revolving Investments, Anshu Leasing, and A V B Finance. The certificates of registration were granted to them by the RBI.
As per banking source, of the Rs 8,000 crore, the company will raise debentures qualifying as subordinated debt, or Tier II capital, of up to Rs. 500 crore
Jai Balaji was on the RBI's second list of non-performing assets (NPAs) in 2017-18 mandated for resolution under the Insolvency and Bankruptcy Code
"There is a harmonisation of policies and regulations for upper-scale NBFCs and banks in terms of capital requirements and asset categorisation," Rakesh Singh of Aditya Birla Finance said
In terms of the framework, once an NBFC is classified as NBFC-UL, it shall be subject to enhanced regulatory requirement, at least for a period of five years
Debt market sources said the funds are likely to be raised through non-convertible bonds (NCDs) in one or more tranches
UPI 123PAY will be useful, especially for payments of low-value and microfinance customers
Punjab & Sind Bank will raise funds through the sale of certificates of deposit maturing in three months
Reliance Jio, ICICI Securities, and Godrej Industries to issue 3-month CP
The boards of TCFSL and TCCL have also accorded their approval
Loans to be offered to both retail and developers; funds being raised amid 13% expansion in loan portfolio over six months to September
Companies, including HDFC, Tata Capital Financial Services, LIC Housing Finance and Haldia Petrochem raised over Rs 6,000 crore on Wednesday
Tata Capital Financial Services made a profit of Rs 678 crore in FY21, as compared to Rs 114 crore in FY20
Tata Capital's book size increased from Rs 77,110 crore as at March 31, 2019 to Rs 77,610 crore as at March 31, 2020, on a consolidated basis
This is a maiden retail bond issue from the company. The base size of the issue is of Rs 500 crore with an option to retain an oversubscription up to Rs 1,500 crore
The Tatas are in discussions with a clutch of PE funds to gauge their interest and may offer anything between 10 and 15 per cent in Tata Capital Financial Services
TCFSL's net interest margins (NIMs) declined to 4.62% in FY19
Total assets of financial services subsidiary cross Rs 110,000 crore
Fundraising to be one of the largest by an NBFC outside India in past 3 yrs