Last week, the Centre revised the interest rates applicable to three-year term deposit scheme by 10 basis points for the January-March quarter. According to a finance ministry circular, the deposit under Sukanya Samriddhi scheme would attract an interest rate of 8.2 per cent from the existing 8 per cent, while the 3-year term deposit would … Read more
The Reserve Bank of India (RBI) has directed banks and non-banking financial companies (NBFCs) to not make investments in any Alternative Investment Funds (AIFs) that has downstream investments either directly or indirectly in a debtor company of the bank. The notice aims to address concerns relating to possible evergreening through this route. The move is … Read more
“Similarly MFIs have been ignored for long but MFIs follow a cycle so if you get the cycle right the upside can be big. So MFIs and mortgage or housing finances within NBFCs where we are currently investing,” says Viral Berawala, Director, Buoyant Capital.Have you started buying pharma yet because that too is showing sparks … Read more
“This is a year in which if you look at the recent automobile sales they have been strong and they are likely to get stronger going into 2023 which is another positive for M&M Finance,” says Chakri Lokapriya, CIO & MD, TCG AMC. Just wondering what to do with Bajaj Finance, their quarterly update is … Read more
India‘s financial system, including banks and NBFCs are in a position to withstand even the worst of macro economic stress emanating from global spillovers and the central bank will focus on management of shocks and building the buffers of financial system, the RBI said in its half yearly Financial Stability Report. The central bank’s stress … Read more
NEW DELHI: Crediting Sebi regulations aimed at reducing the impact of leveraged positions on the Indian stock market, Zerodha CEO Nithin Kamath today said earlier when the US market caught a cold, Dalal Street would catch a fever. “But since 2010, volatility-wise, we’ve been much better compared to the US. While the credit is usually … Read more
Mumbai: The capital markets regulator has relaxed certain requirements for the initial public offering of Life Insurance Corp of India (LIC). The Securities and Exchange Board of India (Sebi) has allowed the government to divest 3.5% in the insurer, exempting it from the mandatory 5% stake sale for large issues. Anchor investors in LIC’s listing … Read more
Mumbai: The Reserve Bank of India (RBI) has fine-tuned the capital norms for NBFCs, allowing revaluation of reserves from property to be counted as tier-1 capital instead of tier-2. It also permitted calculation of earnings subject to deductions of dividend based on past years. “Revaluation reserves arising out of change in the carrying amount of … Read more
Mumbai: Non-bank financing companies have approached the central housing ministry seeking clarity on its stance on continuing fresh disbursals under the PMAY Credit Linked Subsidy Scheme (CLSS) for the poor and the underprivileged. NBFCs are seeking an extension of the plan, due to end this month, for another two years. “We have sought a meeting … Read more
The Reserve Bank of India on Tuesday extended the timeline by six months for NBFCs to adhere the new NPA recognition norms. Earlier the regulator had set March 31 deadline for non-bank lenders to upgrade NPAs only after all arrears and principal dues are paid. “NBFCs will have time till September 30, 2022 to put … Read more