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
While investment and credit companies (ICC), the largest segment of NBFCs, showed subdued asset growth, infrastructure finance companies (IFCs) – a segment dominated by PSU NBFCs –decelerated in the first half of FY22. Source link
Failure rates in automated debit transactions have remained stubbornly high in June indicating that financial stress due to localized lockdowns to curb the spread of the Covid 19 pandemic has still not subsided. Data from the National Payments Corporation of India’s (NPCI) National Automated Clearing House (NACH) platform shows that failure rates for debit transactions … Read more
Mumbai: Non-bank finance companies, both local and global, can now start operations in Gujarat’s GIFT City. They will be allowed to offer the whole range of services — loans, exotic derivative trades, investment banking, and third-party product sales. The move by the International Financial Services Centre (IFSC), the regulator of the special economic zone, should … Read more
Mumbai: Bajaj Finance said on Monday it may consider additional accelerated provisioning for Covid-19 in the first quarter of fiscal year 2021 to further strengthen its balance sheet. The consumer goods financier had provided Rs 900 crore as contingency provision in the quarter ended March towards Covid-19. In an exchange filing, the company said its … Read more