NBFC News

Companies

Kotak Mahindra Bank share price up by 1%, after Company acquires Sonata Finance in ₹537 crore deal

As previously communicated in February 2023 and October 2023, the Kotak Mahindra Bank had expressed its intention to acquire Sonata Finance. Now finalized, this acquisition brings Sonata's extensive microfinance network under the Kotak Mahindra Bank umbrella.

1 min read01:32 PM IST
Markets

Vehicle finance NBFCs to see strong performance, says Kotak Equities; upgrades Cholamandalam, Shriram Finance to ‘Buy’

Kotak Equities expects vehicle sales growth to moderate to 3-9%, while core segment growth to decline 200-1,200 basis points (bps) in FY2025 from current levels. Moreover, credit cost is also expected to remain muted at 1.1% - 2.1% for all players.

3 min read11 Mar 2024
Companies

International Women's Day 2024: How Kinara Capital’s Hardika Shah is bridging gender gap, empowering women in MSMEs

Kinara Capital has disbursed more than ₹6,200 crore in over one lakh collateral-free business loans. The NBFC has shown strong growth over the past few years with its AUM growing 150% to ₹3,000 crore between FY22 and Q3 FY24. Women-owned MSMEs constitute nearly 12% of its customer portfolio.

3 min read7 Mar 2024
Industry

RBI on IIFL Finance, JM Financial: Actions to ensure ethical business practice, analysts say

RBI imposed an embargo on IIFL Finance’s gold loan business and then on JM Financial Products’ loan against shares & IPO financing business, citing persistent regulatory non-compliance and governance issues.

3 min read6 Mar 2024
Industry

Piramal Enterprises, IIFL Finance initiate provisions for AIF exposure after RBI tightens norms

The announcements by PEL and IIFL Finance come as a proactive measure to align with the RBI’s newly instituted norms governing the financial sector’s involvement in AIFs.

2 min read22 Dec 2023
Industry

After RBI tightens lending norms, will fintech see a slowdown? Experts explain

Experts expect India's fintech and NBFC segment to be the worst hit after the RBI released a new directive to increase risk weightage for unsecured loans. The borrowers may have to bar the cost.

3 min read20 Nov 2023
Videos

What Are Interest Rates & How They Drive Our Economy | MINT Detangle Explains In 1 Minute

What are interest rates? How do they influence our lives, and economy of the country? Detangle With MINT Explains In A Minute

31 Jul 2023
Videos

Here’s How Banks Recovered Bad Loans, NPA’s Worth 10 Lakh Crs In 9 Years | Details

According to the Reserve Bank data, Scheduled Commercial Banks (SCBs) have done aggregate recovery of ₹10,16,617 crore during the last nine financial years. According to the Central Repository of Information on Large Credits the total funded amount outstanding of SCBs to corporate company borrowers, which was classified as NPA and had an amount outstanding of ₹1,000 crore or more was ₹1,03,975 crore as on March 31, 2023.

27 Jul 2023
Videos

Mukesh Ambani Moves To Disrupt Indian Lending Space with Jio Financial Services | Key Details

Jio financial services, backed by Mukesh Ambani's Reliance is set to enter & disrupt the financial lending space in India. This development has been in the making since 2015, when Reliance got the payment bank licence from the RBI. The group recently decided to demerge its financial services business. It’ll be called Jio Financial Services (JFS). With the help of biggest customer database across telecom , home-internet fiber, retail, etc; JFS is in a unique position to leverage on future consumer spending trends. NBFC space is likely to get more competitive with JFS's entry.

20 Jul 2023
Opinion

Banks are a force in gold loans thanks to NBFCs

It is the NBFCs that have paved the way for institutional lenders to grow in this segment. But the job is still not done, and policy support is needed to draw more poor borrowers away from exploitative pawnbrokers into formalized lending

4 min read1 Oct 2021
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The Union Budget contains details about the estimated receipts and the expenditure of the government for a particular fiscal year. The Budget is allotted for the upcoming fiscal year, which runs from 1st April to 31st March of the next year. Here is a quick guide on how the Union Budget is prepared

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