Page 9 - Nbfcs

NPAs of NBFCs, HFCs may rise to 4.5-5% by March 2022, says Icra

Restrictions in movements imposed by various states are likely to impact collections of NBFCs and HFCs, which may see NPAs rising to 4.5-5 per cent by March 2022, says a report

NBFC Magma Fincorp net loss widens to Rs 648 crore in March quarter

The company had posted net loss of Rs 355.08 crore during the January-March period of FY20

We are the Tesla of credit cards: Slice founder & CEO Rajan Bajaj

We have a non-banking financial company (NBFC) that provides the financing for transactions.

Reserve Bank of India digs in heels on auditor appointments at banks, NBFCs

The para banks, however, were allowed to do the change from the second half of the fiscal year.

CII protests RBI rules on auditors, says will cause 'enormous difficulties'

The central bank has asked most banks and NBFCs to immediately appoint new auditors.

Second Covid-19 wave: NBFCs brace for defaults, grim business prospects

The collections are down as staff is not able to reach out to customers.

NBFCs had objected to RBI rules on auditor change, called for expert panel

The RBI had said in its guidelines that all banks and NBFCs, except non-deposit taking ones below Rs 1,000 crore, should change their auditors

Microfinancing lessons from a mandi that govt-run Mudra seems to have lost

MFI agents hand out 15-day loans in cash with a lecture on vaccines to the women, who would otherwise approach money lenders to buy vegetables in bulk and sell at the market next to the Ganga

NBFCs double-digit growth in Q2, Q3 of FY21 points to resilience: RBI

The profitability of the sector remained stable in the third quarter of FY2020-21.

Covid-19 second wave: Clamour for packages for banks and NBFCs grows

Senior bankers say the situation had become serious and it was tough to gauge the economic impact

Shriram Transport Finance aims 10-12% AUM growth in fiscal year 22

Shriram Transport Finance is a non-banking finance company

Reserve Bank to strengthen risk-based supervision of banks, NBFCs

The Reserve Bank has decided to review and strengthen the Risk Based Supervision (RBS) of the banking sector with a view to enable financial sector players to address the emerging challenges

Banks with assets of more than Rs 15,000 crore must hire two auditors

Any bank with a balance sheet of less than Rs 15,000 crore can have one statutory auditor. However, in all cases, concurrent auditors cannot be appointed as statutory auditors

NBFCs seek fresh debt recast as Covid-19 second wave wreaks havoc

Those who had availed themselves of the recast earlier should get a second chance, the Finance Industry Development Council said in a letter to the RBI

RBI issues guidelines for appointment of statutory auditors of banks, NBFCs

The Reserve Bank of India on Tuesday issued guidelines for appointment of statutory auditors of banks and non-banking finance companies (NBFCs), including housing finance companies

NBFCs are key to reaching underserved segments

Most small borrowers don't have other standard KYC documents and hence Aadhaar authentication becomes critical

DCB Bank acquires equity stake in Bengaluru-based Techfino Capital

DCB Bank Limited announced on Wednesday that it has acquired a minority equity stake of approximately 9% in Bengaluru-based NBFC company Techfino Capital Private Limited

IL&FS case complexities reveal what India's resolution mechanism is lacking

A stretched rescue process reveals critical deficiencies in India Inc's corporate layering and resolution mechanism worsened by the pandemic

Fresh, tailor-made stimulus package needed to fight second Covid wave

The impact of restrictions will be felt on retail loans-banks as well as NBFCs and HFCs

Covid-19 surge may hit securitisation in the near term, says Crisil

FY21 volumes below Rs 1 trn as against Rs 1.9 trn in FY20