NBFC

More in NBFC

• IIFL Securities appoints Nemkumar as managing director

  The said appointment is subject to requisite regulatory and shareholders' approval, IIFL Securities said in a regulatory filing.

  

• RBI says 15 NBFCs surrendered registration certificates

  The Reserve Bank of India (RBI) announced on Friday that 15 Non-Banking Financial Companies (NBFCs), including Tata Capital Financial Services and Revolving Investments, have surrendered their certificates of registration for various reasons. Among these, nine NBFCs have ceased to exist as legal entities due to factors such as amalgamation, merger, dissolution, or voluntary strike-off. These nine include Tata Capital Financial Services, Tata Cleantech Capital, Naperol Investments, USG Financial Services, Urja Capital, Vandana Dealers, ABRN Finance, Jodhani Management, and JDS Securities.

  

• Co-lending accelerates balance sheet growth and optimal fund utilisation, say NBFC leaders

  With India's credit gap growing at a CAGR of 12-13%, how has the co-lending model fared till date to bridge this divide? How do entities capitalise on such collaborative models? What unique value do partners bring that traditional banks can't? Hear from the NBFC leaders as they explore these aspects of co-lending while addressing the crucial challenges head-on.

  

• TVS Holdings acquires 80.74% stake in Home Credit India Finance for ₹554 Crore

  The deal is expected to be completed by the end of 2024, so for now we are very much focusing on 'business as usual, said Ondrej Kubik, Chief Executive Officer, Home Credit India Finance in a letter to the employees of the company which ETBFSI has seen. Here are the details:

  

• Gold finance companies plunge on RBI cash advisory

  "The regulation is expected to slightly reduce the competitive advantage of NBFCs against banks and the likelihood of some share of gold loan customers shifting to the unorganised segment can't be ruled out," said Shweta Daptardar, VP- institutional equity research, Elara Securities. "The share prices have already reacted today, so the downside is expected to be limited."

  

• Morgan Stanley notes operational changes for gold financiers following RBI directive

  In its recent advisory to all the NBFCs dealing in the gold loan businesses, the RBI referred to the provisions of the Section 269 SS of Income Tax Act, 1961, that stipulates no individual can receive more than Rs 20,000 as loan amount in cash. Further, the MD & CEO of Manappuram Finance said that the RBI’s advisory reiterating the limit of Rs 20,000 for disbursing cash loans would not hamper the company’s business.

  

• 100% sure new RBI guideline on gold financing is not going to impact our volumes: Muthoot Finance

  George Alexander Muthoot affirms Muthoot Finance's readiness for the RBI's directive, ensuring seamless transitions to bank transfers for loans exceeding Rs 20,000. Compliance remains a key focus in the NBFC sector, with vigilance against non-compliant lenders. Muthoot says: Nobody is going anywhere because the customer will not get cash elsewhere. All NBFCs are the same way."

  

• Piramal Enterprises approves merger of its housing finance arm to form Piramal Finance

  As a part of the merger consideration, for every share of Piramal Enterprises, shareholders will receive one equity share of PFL and subject to RBI's approval, one NCRPS (non-convertible non-cumulative nonparticipating redeemable preference share) of Rs 67 of PFL.

  

• India's Manappuram Finance accepts bids worth $300 mln for dollar bond issue

  INDIA-DEBT/BONDS-India's Manappuram Finance accepts bids worth $300 mln for dollar bond issue

  

• L&T finance plays the complete home loan tune

  The series of TV commercials introduce the customers to ‘Home Décor Finance’ and the second and third introducing the customers to benefits such as ‘Digitized Process’ and ‘Dedicated Relationship Manager’. The Company has also launched its sonic brand identity. Kavita Jagtiani, chief marketing officer, L&T Finance said, “We are building futuristic digital solutions by integrating technology across all our customer touchpoints."

  

• Muthoot Finance raises $650 million via offshore dollar bonds

  The non-banking financial company raised the funds through bonds maturing in three years and nine months at a coupon rate – or rate of interest – of 7.125%. The funds will be used for onward lending and other activities that are allowed under the Reserve Bank of India’s external commercial borrowing guidelines.