“We cannot have an economy where credit growth slows down to 10-11% and the economy grows at 6.5-7%. But if you just look at what is starting to happen is there was a deficit of liquidity of about three lakh crores and just recently we seem to see that there are signs of the central … Read more
The Reserve Bank of India (RBI) announced on Monday, December 2, that it has lifted the restrictions imposed on Navi Finserv Limited, a non-banking financial company (NBFC) led by Sachin Bansal. The decision comes after the company demonstrated significant reforms in its practices and adherence to regulatory guidelines. “The Reserve Bank has decided to lift … Read more
The Union government has revised its guidelines regarding capital restructuring of Central Public Sector Enterprises (CPSEs) to address the critical interlinked issues such as leveraging of assets lor fresh investment, capital restructuring, financial restructuring and such other matters. The guidelines stipulate eligibility conditions for CPSEs for payment of dividend, buyback of shares, issue of bonus … Read more
“UGRO is now expanding from its current base of 105 locations to 250 locations this year and 400 next year and all of these physical infrastructure which we are building is in tier II to tier V town,” says Shachindra Nath, Founder & MD, UGRO Capital.We have heard a lot in terms of how the … Read more
Shachindra Nath, Founder & MD, UGRO Capital, says “UGRO is now becoming India’s largest, most dedicated data tech driven MSME financing company and we keep saying MSME accha hai, which means the underlying MSME economy and especially the micro enterprises economy is becoming so robust and the recent Crisil upgrade to “A” is a reflection … Read more
Mukesh Ambani-owned Jio Financial Services has submitted an application to the Reserve Bank of India (RBI) for the conversion of the firm to a Core Investment Company (CIC) from a Non-Banking Financial Company (NBFC). Jio Financial has applied for the company’s conversion to CIC as mandated by the banking watchdog, the company informed exchanges late … Read more
Mumbai: Muthoot FinCorp plans to raise up to ₹400 crore through the issuance of secured, redeemable, non-convertible debentures with varying tenures. “The Tranche I Issue with a face value of ₹1,000 has been open to the public from Friday, September 1 till Thursday, September 14, 2023, subject to an early closure as may be approved … Read more
Mumbai: The ₹1,025-crore initial public offering of Delhi-NCR-based SBFC Finance was subscribed 70.16 times on the final day of bidding on Monday. The issue received bids for 936.67 crore shares against the 13.35 crore shares on offer. The qualified institutional buyer portion was subscribed 193 times, while the non-institutional investor‘s portion was subscribed 49.09 times. … Read more
The Rs 300-crore India Microfinance Equity Fund (IMEF), which the Small Industries Development Bank of India (Sidbi) re-launched in November last year, does not seem to have many takers yet even as the small and medium sized microfinance lenders are longing for institutional funding support. Several NBFC-MFIs found the clauses attached for taking the funding … Read more
Mumbai: Housing, vehicle and consumer finance-linked NBFCs are expected to report about a 20% rise in earnings for the March quarter though profit margins may be squeezed due to the rising cost of funds. Bajaj Finance, Cholamandalam Investment and Finance and Shriram Finance may lead the growth due to strong consumer demand and as they … Read more