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Non Banking Financial companies

02 Dec 2024

Indian NBFCs To See Asset Growth At 15-17% Over 2 Fiscals

The AUM growth of NBFCs in the two largest traditional segments — home and vehicle loans (45 per cent of NBFC AUM) — will continue to be driven by fundamentals with limited impact of the above factors.

14 Aug 2024

New RBI Rules On Premature Withdrawal For NBFC Depositors: KEY POINTS

Here's All You Want To Know About The Revised RBI Guidelines Regarding The Acceptance Of Public Deposits For NBFCs.

Reserve Bank of India

08 Jul 2024

RBI Cancels Registration Of 2 NBFCs For Irregular Lending Practices

Hyderabad-based Star Finserv India was offering the service under 'Progcap' (owned and operated by Desiderata Impact Ventures Private Limited). Polytex India, headquartered in Mumbai, was providing services under the 'Z2P' mobile application (owned and operated by Zaitech Technologies Private Limited).

29 Apr 2024

RBI Tells Banks To Stop Charging Extra Interest On Loans

Some banks were charging interest for the entire month, rather than charging interest only for the period for which the loan was outstanding.

Reserve Bank of India

27 Apr 2024

RBI Issues Draft Rules For Web Aggregators Of Loan Products

The RBI specifies that the digital view should include essential details such as the name of the bank or NBFC extending the loan.

RBI Special Audit

24 Mar 2024

RBI Initiates Special Audits For IIFL Finance, JM Financial

The RBI imposed restrictions on IIFL Finance and JM Financial Products due to their failure to comply with regulatory guidelines in March.

28 Nov 2023

BharatPe Turns EBITDA Positive; Clocks October 2023 As 1st Profitable Month

In October, it facilitated loans exceeding Rs 640 crore for its merchants in partnership with its NBFC partners, a spike of 36 per cent year-on-year.

31 Dec 2022

Shriram Finance hikes interest rates on fixed deposits from Jan 1; Check here

Shriram Finance Limited hikes interest rates for FDs from Jan 1, 2023. Customers can earn interest up to 9.36% on FDs, effective from January 1, 2023. NBFC offers additional interest rate of 0.50% and 0.10% to senior citizens and women respectively.

FiveStar Business Finance IPO

12 Nov 2022

FiveStar Business Finance IPO subscribed over 70%: Here's what we know so far

IPO of FiveStar Business Finance was subscribed over 70%. The Chennai-based NBFC is backed by investors like TPG, Matrix Partners, Norwest Ventures, Sequoia and KKR. The company has raised Rs 588 crore from anchor investors.

09 Oct 2022

SBI lines up NPAs over Rs 746 crore for sale in Oct-Nov

SBI said the proposed acquisition of these assets should not be funded and backed by promoters/company/guarantors or any of their related parties. SBI said only ARCs are eligible in the e-auction as it is a fraud account.

06 Jun 2022

Reserve Bank of India comes out with provisioning norms for large NBFCs

In October last year, RBI had issued a framework for scale-based regulation for NBFCs. The rate of provision for medium enterprises has been fixed at 0.4 per cent.

Reserve Bank of India

23 Feb 2022

RBI asks NBFCs to implement core financial services solution by Sep 2025

CFSS is akin to the Core Banking Solution (CBS) adopted by banks. The two categories of NBFCs have to implement CFSS on or before September 30, 2025. The Upper Layer comprises those NBFCs which are specifically identified by RBI as warranting enhanced regulatory requirement.

28 Nov 2021

RBI's recent norms may spike NPAs for NBFCs, cautions ICRA

RBI had said that classification of special mention accounts and non-performing accounts should be done on a day-end position basis. The classification should be upgraded from an NPA to standard category only after clearance of all outstanding overdue, RBI added. ICRA said that these new norms will impact on earnings performance of such entities.

30 Jul 2020

PM Narendra Modi asks banks, NBFCs to fund bankable proposals; assures support

The primary purpose of the meeting was to discuss and deliberate a roadmap and vision for the future. The meeting comes in the wake of banks and non-banking financial companies (NBFCs) seeking additional liquidity for lower rated companies.

05 May 2020

COVID-19: NBFCs ask RBI for one-time restructuring of all loans till Mar 2021

Last month, RBI had asked banks and NBFCs to maintain provisions of up to 10 per cent on all accounts that are at least 1 day past due and where a moratorium has been granted. The provision will be spread over two quarters - March, 2020 and June, 2020.

22 Aug 2019

Sebi eases buyback norms for firms with NBFC, HFC subsidiaries

The Sebi board, at its meeting, approved these proposals in respect of the repurchase of shares by listed companies governed by the market regulator's Buyback Regulations as well as by the Companies Act.

Nirmala Sitharaman

05 Aug 2019

FM Nirmala Sitharaman to meet bank heads over key sector credit growth

The Financial Stability Report (FSR) of RBI in June stated credit growth of scheduled commercial banks (SCBs) picked up, with public sector banks (PSBs) registering near double digit growth.

30 May 2019

RBI extends relaxed norms for NBFC loan securitisation till December 31

Non-banking financial companies (NBFCs) have been permitted to securitise loans of over five-year maturity after holding them for six months on their books.

29 Nov 2017

Cell headed by cop to monitor NBFCs: MP govt tells Assembly

The Madhya Pradesh government today told the state Legislative Assembly that a cell headed by a senior police officer is being constituted to monitor the activities of the non-banking financial companies (NBFCs) in the state.

Real estate sector

21 Sep 2017

Investment in realty sector at $5 billion so far this year: KPMG

Institutional investors have put in USD 5 billion so far this year into the real estate sector, largely in commercial assets, according to KPMG.

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