&lt;p&gt;NBFC-major Bajaj Finserv posted a 31.4% growth in consolidated net profit to  &lt;span class='webrupee'&gt;₹&lt;/span&gt;1,769 crore for the fourth quarter of FY23 compared to a profit of  &lt;span class='webrupee'&gt;₹&lt;/span&gt;1,346 crore in the same quarter a year ago. Consolidated total income stood at  &lt;span class='webrupee'&gt;₹&lt;/span&gt;23,625 crore up by 25.2% versus  &lt;span class='webrupee'&gt;₹&lt;/span&gt;18,862 crore in Q3 of the previous fiscal.&lt;/p&gt;&lt;p&gt;In terms of segments, interest income increased 31% to  &lt;span class='webrupee'&gt;₹&lt;/span&gt;11,025 crore in the fourth quarter from  &lt;span class='webrupee'&gt;₹&lt;/span&gt;8,383 crore in the same period the year prior.&lt;/p&gt;&lt;p&gt;In an exchange filing, the company stated that there was ongoing inflationary pressure throughout FY23. During FY23, the RBI raised the repo rate by 250 basis points in order to offset the effects of rate increases made by central banks around the world and to clearly target inflation.&lt;/p&gt;&lt;p&gt;"In April 2023, the RBI kept the repo rate unchanged with a statement that the pause was only for this meeting. Conditions were conducive for savings which resulted in a favourable growth for the life insurance sector. With Covid-19 threat having waned, there was significant increase in vehicles on the road and non-covid treatments which had been postponed earlier, resulting in higher frequency of claims for the general insurance sector. In this environment of higher interest rates and insurance claims, our companies continued to do well," added the company.&lt;/p&gt;&lt;p&gt;Here's how Bajaj Finserv's companies have performed in Q4FY23:&lt;/p&gt;&lt;h2&gt;Bajaj Finance Ltd&lt;/h2&gt;&lt;p&gt;In comparison to Q4 FY22, the company's overall revenue climbed by 32% to  &lt;span class='webrupee'&gt;₹&lt;/span&gt;11,363 crore from  &lt;span class='webrupee'&gt;₹&lt;/span&gt;8,629 crore.&lt;/p&gt;&lt;p&gt;Profit after tax for the fourth quarter of FY23 rose by 30% to  &lt;span class='webrupee'&gt;₹&lt;/span&gt;3,158 crore from  &lt;span class='webrupee'&gt;₹&lt;/span&gt;2,420 crore in the fourth quarter of FY22, driven primarily by strong Assets Under Management (AUM) growth, greater net interest income, and improved asset performance.&lt;/p&gt;&lt;p&gt;AUM increased by 25% from  &lt;span class='webrupee'&gt;₹&lt;/span&gt;197,452 crore on March 31, 2022 to  &lt;span class='webrupee'&gt;₹&lt;/span&gt;247,379 crore on March 31, 2023.&lt;/p&gt;&lt;p&gt;Gross NPA&nbsp;and Net NPA were 0.94% and 0.34%, respectively, as of March 31, 2023, compared to 1.60% and 0.68% as of March 31, 2022.&lt;/p&gt;&lt;h2&gt;Bajaj Allianz General Insurance Co Ltd&lt;/h2&gt;&lt;p&gt;In comparison to Q4 FY22, gross written premium climbed 14% to  &lt;span class='webrupee'&gt;₹&lt;/span&gt;3,766 crore for Q4 FY23.&lt;/p&gt;&lt;p&gt;As compared to  &lt;span class='webrupee'&gt;₹&lt;/span&gt;1,988 crore in Q4FY22, net earned premium for Q4FY23 was  &lt;span class='webrupee'&gt;₹&lt;/span&gt;1,990 crore. Assets Under Management (AUM), which include cash and investments, increased by 13% to  &lt;span class='webrupee'&gt;₹&lt;/span&gt;27,809 crore as of March 31, 2023, from  &lt;span class='webrupee'&gt;₹&lt;/span&gt;24,633 crore as of March 31, 2022.&lt;/p&gt;&lt;h2&gt;Bajaj Allianz Life Insurance Co Ltd&lt;/h2&gt;&lt;p&gt;When compared to Q4FY22, gross written premium grew 13% to  &lt;span class='webrupee'&gt;₹&lt;/span&gt;6,434 crore from  &lt;span class='webrupee'&gt;₹&lt;/span&gt;5,719 crore in Q4FY23.&nbsp;&lt;/p&gt;&lt;p&gt;Assets Under Management (AUM), which are total investments, were worth  &lt;span class='webrupee'&gt;₹&lt;/span&gt;90,584 crore as of March 31, 2023, compared to  &lt;span class='webrupee'&gt;₹&lt;/span&gt;85,623 crore as of March 31, 2022, a 6% increase.&lt;/p&gt;&lt;p&gt;&lt;a class="manualbacklink" target="_blank" href="https://www.livemint.com/companies/news/bajaj-finserv-q4-results-firm-announces-dividend-check-details-here-11682584369122.html"&gt;Bajaj Finserv Q4 results: Firm announces dividend, check details here&lt;/a&gt;&lt;/p&gt;&lt;p&gt;&nbsp;&lt;/p&gt;&lt;p&gt;&nbsp;&lt;/p&gt;&lt;p&gt;&nbsp;&lt;/p&gt;

Bajaj Finserv Q4 results: Consolidated profit jumps 31.4%

&lt;p&gt;NEW DELHI: Customers are required to carry additional factor authentication (AFA) on all recurring payments done through their debit cards, credit cards, UPI and prepaid payments instruments (PPIs), according to the Reserve Bank of India (RBI) guidelines,&lt;/p&gt;&lt;p&gt;AFA is a one-time process for transactions below  &lt;span class='webrupee'&gt;₹&lt;/span&gt;5,000 and is same as approval using OTP at the time of registration.&lt;/p&gt;&lt;p&gt;With UPI AUTOPAY, customers can enable recurring e-mandate using any UPI application for recurring payments such as mobile bills, electricity bills, EMI payments, entertainment/OTT subscriptions, insurance, mutual funds, and loan payments, paying for transit/metro payments among others of up to  &lt;span class='webrupee'&gt;₹&lt;/span&gt;5,000. If the amount exceeds  &lt;span class='webrupee'&gt;₹&lt;/span&gt;5,000, customers have to execute every mandate with UPI PIN.&lt;/p&gt;&lt;p&gt;With the RBI’s new auto-debit rule on AFA has been made applicable since 1 October, here’s an explanation of the process of setting up an e-mandate in the UPI app to maximise the benefits of using autopay option.&lt;/p&gt;&lt;p&gt;First login to BHIM UPI App and click on ‘Auto Debit’ option, and then ‘Mandate’.&lt;/p&gt;&lt;p&gt;Any UPI-enabled application would have a ‘Mandate’ section, through which customers can create, modify, pause as well as revoke auto-debit mandate.&lt;/p&gt;&lt;p&gt;Next step is to manage mandate. This section allows customers to view their past mandates for their reference and records. UPI users can create e-mandate through UPI ID, QR scan, or Intent.&lt;/p&gt;&lt;p&gt;Users should next select payment frequency or period. As per the National Payments Corporation of India (NPCI), the pattern for auto-debit mandate has been created keeping in mind customers’ spends on recurring payments. The mandates can be set for one-time, daily, weekly, fortnightly, monthly, bi-monthly, quarterly, half-yearly, and yearly.&lt;/p&gt;&lt;p&gt;Next users should add name of the merchant and select auto debit date and then finally click on ‘Proceed’.&lt;/p&gt;&lt;p&gt;Customers have to authenticate their account through UPI PIN one-time and subsequent monthly payments would be debited automatically.&lt;/p&gt;&lt;p&gt;Individual users and merchants are expected to benefit from this feature, as mandates are generated instantly and payments get deducted automatically on the authorized date.&lt;/p&gt;&lt;p&gt;As per NPCI, some of the banks, merchants, and aggregators who are live with UPI AUTOPAY are Axis Bank, HDFC Bank, ICICI Bank, IDFC Bank, Paytm Payments Bank, State Bank of India, YES BANK, IIFL Securities, Helpage India, CRY, Bajaj Finserve, Netflix and Disney+ Hotstar.&lt;/p&gt;

How to setup UPI autopay for your recurring payments

&lt;p&gt;Here is a list of stocks that are buzzing in early trade on Wednesday:&lt;/p&gt;&lt;p&gt;&lt;strong&gt;RBL Bank:&lt;/strong&gt; Shares of the private lender slumped more than 19%, hitting a 52-week low in early deals after it reported a sharp fall in its net profit for the September quarter. The bank posted a 73.4% decline in profit to  &lt;span class='webrupee'&gt;₹&lt;/span&gt;54.3 crore due to substantial rise in provisions combined with deterioration in asset quality. Chief Executive Officer Vishwavir Ahuja said the bank has made higher-than-required provisions for some corporate accounts, impacting the bottomline.&lt;/p&gt;&lt;p&gt;&lt;strong&gt;Bajaj Finserve:&lt;/strong&gt; Shares traded higher after the company reported a 71% jump in its consolidated net profit to  &lt;span class='webrupee'&gt;₹&lt;/span&gt;1,204 crore in the second quarter of the current fiscal driven by strong growth in revenues. The company had posted a net profit of  &lt;span class='webrupee'&gt;₹&lt;/span&gt;704 crore a year ago. The stock traded up more than 2%.&lt;/p&gt;&lt;p&gt;&lt;strong&gt;Jubilant Foodworks:&lt;/strong&gt; Shares jumped more than 6% as the September quarter revenue from operations of the company, which operates fast-food chains Domino's Pizza and Dunkin' Donuts, offset the fall in bottomline during the quarter. It reported a decline of 3.4% in its consolidated net profit to  &lt;span class='webrupee'&gt;₹&lt;/span&gt;72.98 crore. However, its revenue from operations was up 12.2% to  &lt;span class='webrupee'&gt;₹&lt;/span&gt;998.1 crore during the quarter.&lt;/p&gt;&lt;p&gt;&lt;strong&gt;Bank of Maharashtra:&lt;/strong&gt; The stock traded more than 3% higher as the state-owned bank’s net profit jumped four-fold to  &lt;span class='webrupee'&gt;₹&lt;/span&gt;114.7 crore in the September quarter due to a decline in bad loans leading to lower provisioning requirement. Gross non-performing assets (NPAs) fell to 16.9 % of the total advances in July-September from 17.9% in the quarter ended June.&lt;/p&gt;&lt;p&gt;&lt;strong&gt;DHFL:&lt;/strong&gt; Shares of the company traded down nearly 5% due to fears around the company’s financial situation and uncertainty over the debt resolution plan. In a filing to stock exchanges today, the troubled finance company said recent media reports have hurt the image and goodwill of the company and create panic in the market.&lt;/p&gt;&lt;p&gt;&lt;strong&gt;OBC:&lt;/strong&gt; State-owned Oriental Bank of Commerce Ltd announced its results for the September quarter on Tuesday. It posted net profit of  &lt;span class='webrupee'&gt;₹&lt;/span&gt;125.9 crore, up 23% on year, as fewer new loan accounts turned bad and on account of a rise in net interest margin. Bad loans declined due to lower fresh slippages. The stock was up nearly 3%.&lt;/p&gt;

Stocks in News: RBL Bank, Bank of Maharashtra, Jubilant Foodworks

&lt;p&gt;How deep is the consumption slowdown? While everybody in the market has been asking the question, not many have an answer. Sanjiv Bajaj, managing director of Bajaj Finserve that has a thriving business of consumer loans under Bajaj Finance, thinks the slowdown is “dramatic”.&lt;/p&gt;&lt;p&gt;Bajaj, in a CNBC-TV18 interview on Monday, said the company had seen lower growth in the first quarter of FY19. The 8% drop in Bajaj Finance stock on Monday should give some hint as to how this fear has gripped the market.&lt;/p&gt;&lt;p&gt;The fact that consumption stocks haven’t seen great days and revenue growth looks benign, for everyone from toothpaste makers to home appliance builders, shows that Indians have begun postponing their purchases.&lt;/p&gt;&lt;p&gt;&lt;a href="https://www.livemint.com/market/stock-market-news/sensex-falls-over-900-points-in-two-days-after-budget-5-things-to-know-1562563661244.html" target="_blank"&gt;Bajaj Finance&lt;/a&gt;’s business model is wrapped around hooking Indians to consume, one equated monthly instalment (EMI) after another.&lt;/p&gt;&lt;p&gt;Bajaj finds unusual that television sales are lower even as a mega event like cricket World Cup series is on. Indians can never get enough of cricket and how much of this drop in television numbers is due to shift to streaming services is unclear.&lt;/p&gt;&lt;p&gt;HDFC Bank, another lender with more than half of its loan portfolio consisting of retail loans saw its growth drop to multi-quarter lows in April-June period, the lender said in a pre-earnings release on Monday.&lt;/p&gt;&lt;p&gt;The upshot is that the consumption slowdown is real and in Bajaj’s words dramatic.&lt;/p&gt;&lt;p&gt;As our column pointed out last week, the commentary from consumer staples companies is not encouraging.&lt;/p&gt;&lt;p&gt;With the &lt;a href="https://www.livemint.com/budget" target="_blank"&gt;Union Budget&lt;/a&gt; giving no immediate fillip to consumption, all eyes are now on monetary policy to push consumption demand. Even so, it is likely that it could get worse before it gets better and most analysts are foreseeing a delay in consumption revival.&lt;/p&gt;&lt;p&gt;&lt;br&gt;&lt;/p&gt;

How deep is the consumption slowdown? Bajaj Finance gives hints

Bajaj Finserv Limited is a holding company for various financial services businesses. The Company is engaged in the business of promoting financial services such as finance, insurance, and wealth management, through its investments in subsidiaries and joint ventures. It is also engaged in the business of generating power through wind turbines, a renewable source of energy. Its segments include life insurance, general insurance, windmill, retail financing, and investments and others. The Company focuses on six categories: consumer lending, small and medium enterprise (SME) lending, rural lending, mortgages, loan against securities, and commercial lending. It serves various customers through its subsidiaries by providing financial products and services for asset acquisition through financing, asset protection through general insurance, family and income protection in the form of life and health insurance, and retirement and savings solutions. Its subsidiary is Bajaj Finserv Direct Ltd.

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