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India`s Navi Finserv withdraws bond sale after RBI action, traders say India's Navi Finserv has withdrawn a planned bond sale scheduled for bidding later in the day, five merchant bankers said on Monday, days after the country's financial regulator barred the non-bank finance company (NBFC) from issuing new loans. The company was scheduled to raise 1 billion rupees (nearly $12 million) through two-year and three-month bonds, with a coupon of 10.40%, payable on a quarterly basis, the bankers said. Navi Finserv did not give a reason for withdrawing t...
India`s Navi Finserv withdraws bond sale after RBI action, traders say
India`s Navi Finserv withdraws bond sale after RBI action, traders say
Source: Reuters
2024-10-21 10:42:56 am
India cenbank bars four non-bank lenders from issuing loans for breaching norms  India's central bank on Thursday barred four non-banking finance companies (NBFCs) from sanctioning and disbursing loans, effective close of business on Oct. 21, due to non-compliance with norms, it said on Thursday. The four NBFCs are Asirvad Micro Finance, Arohan Financial Services, DMI Finance and Navi Finserv, the central bank said in a release. The NBFCs' pricing policy in terms of their weighted average lending rate (WALR) and the interest spread charged over their c...
India cenbank bars four non-bank lenders from issuing loans for breaching norms
India cenbank bars four non-bank lenders from issuing loans for breaching norms
Source: Reuters
2024-10-17 06:02:13 pm
Some NBFCs not pursuing strong underwriting for high growth: RBI Governor Reserve Bank of India (RBI) Governor Shaktikanta Das said banks and NBFCs need to carefully assess their exposures in unsecured loan areas, both in terms of quality and size.   During his briefing on the decisions of the RBI Monetary Policy Committee (MPC), he said: "Some NBFCs were not pursuing strong underwriting for high growth. Self-improvement by NBFCs is the desired option. These NBFCs are also being closely monitored by the RBI and we will not hesitate to take action, if n...
Some NBFCs not pursuing strong underwriting for high growth: RBI Governor
Some NBFCs not pursuing strong underwriting for high growth: RBI Governor
Source: IANS
2024-10-09 02:53:07 pm
Securitisation volume surges to Rs 70,000 cr in Q2 FY25, vehicle financiers propel growth  Driven by vehicle financing, securitisation volume in India rose 56 per cent (year-on-year) to Rs 70,000 crore in the second quarter of this fiscal (FY25), a report showed on Wednesday.  This was propelled by large issuances by some key players, especially a large private sector bank, and a few NBFCs that are primarily into vehicle financing, according to a report by CRISIL Ratings. The performance helped securitisation volume surpass Rs 1.15 lakh crore for the first half of ...
Securitisation volume surges to Rs 70,000 cr in Q2 FY25, vehicle financiers propel growth
Securitisation volume surges to Rs 70,000 cr in Q2 FY25, vehicle financiers propel growth
Source: IANS
2024-10-09 11:51:52 am
NBFCs tap alternatives to grow as loans from banks slow: Crisil Ratings Crisil Ratings has said that non-banking financial companies (NBFCs) are increasingly attempting to access funding sources beyond banks, such as through non-convertible debentures (NCD), commercial papers (CP), foreign currency borrowings (FCB) and securitisation, to continue their growth march. As per the rating agency, this follows challenges in availability of bank loans as freely as in the past after risk weights on bank lending to higher-rated NBFCs were raised last year.  A stud...
NBFCs tap alternatives to grow as loans from banks slow: Crisil Ratings
NBFCs tap alternatives to grow as loans from banks slow: Crisil Ratings
Source: Accord Fintech
2024-10-03 10:39:09 am
Organised gold loans by banks, NBFCs likely to exceed Rs 10 trillion in FY25: ICRA Credit rating agency ICRA in its latest report has said that the organised gold loans (GL) by banks and non-banking financial companies (NBFCs) are likely to exceed Rs 10 trillion in the current financial year (FY25) and are set to reach Rs 15 trillion by March 2027. It highlighted that banks remain dominant driven by their gold jewellery-backed agriculture loans. At the same time, NBFCs hold the pole position in retail gold loans and are expected to expand at 17-19% in FY25. The moderation i...
Organised gold loans by banks, NBFCs likely to exceed Rs 10 trillion in FY25: ICRA
Organised gold loans by banks, NBFCs likely to exceed Rs 10 trillion in FY25: ICRA
Source: Accord Fintech
2024-09-26 11:57:43 am
Indian financial institutions well placed to ride on robust economic growth: Moody's Indian banks and non-bank finance companies (NBFCs) are well placed to seize opportunities from the country's strong economic prospects through lending growth in sectors such as infrastructure, energy transition, manufacturing, small businesses and retail, a Moody’s report said on Wednesday.   The credit quality of India’s financial system has strengthened over the past 3-4 years. Record-high profitability, low delinquencies and stable domestic-oriented funding underpi...
Indian financial institutions well placed to ride on robust economic growth: Moody's
Indian financial institutions well placed to ride on robust economic growth: Moody's
Source: IANS
2024-06-13 09:18:34 am