HDFC Bank's NBFC arm HDB Financial Services files papers for Rs 12,500 crore IPO
Mumbai/IBNS: HDFC Bank announced on Thursday (Oct. 31) that its non-banking financial arm HDB Financial Services filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for a potential IPO of up to Rs 12,500 crore (approximately $1.49 billion).
Mumbai: Aditya Birla Capital Ltd (ABCL) reported a remarkable 42% year-on-year increase in consolidated net profit for Q2 FY25, reaching Rs 1,001 crore, driven by strong growth in its lending and insurance sectors.
Mumbai/IBNS: The Reserve Bank of India (RBI) on Thursday (Oct. 17) took action against four Non-Banking Financial Companies (NBFCs), instructing them to cease new loan sanctions and disbursements, while a Morgan Stanley report suggests that more companies in the lending sector could face similar scrutiny.
NBFC loan sanctions rise 12% YoY in Q1FY25, led by growth in home, auto, and personal loans: Report
New Delhi: Loan sanctions by non-banking finance companies (NBFCs) in India saw a 12% year-on-year (YoY) increase in the first quarter of the current financial year (Q1FY25), driven by strong growth in home, auto, and personal credit segments, media reports said.
Mahindra & Mahindra Financial Services to enter mortgage business
Mumbai: Mahindra & Mahindra Financial Services is all set to enter the mortgage business with its board greenlighting the new venture, media reports said.
Reserve Bank tightens norms for NBFC P2Ps
Mumbai: The Reserve Bank tightened regulations for Non-Banking Financial Company - Peer to Peer Lending Platforms (NBFC-P2P) to enhance transparency and ensure better compliance.
Bajaj Housing Finance launches Sambhav home loans
Kolkata: Bajaj Housing Finance launched affordable and accessible housing finance product Sambhav Home Loans.
RBI asks NBFCs to disburse cash loans only up to Rs 20,000: Report
Mumbai: The Reserve Bank of India (RBI) cautioned non-bank finance companies (NBFC) on Wednesday, advising them against providing cash loans exceeding the permitted threshold of Rs 20,000 ($240), media reported.
REC signs 200 million Euro loan agreement with German bank KfW
New Delhi: State-owned NBFC REC Limited signed a 200 million Euro loan agreement with the German bank KfW on Saturday to enhance the distribution infrastructure of DISCOMs in line with the Revamped Distribution Sector Scheme (RDSS) of the government.
Pidilite Industries to foray into lending business
Mumbai: Adhesive-maker Pidilite Industries announced on November 8 its intention to venture into the lending sector, underscoring a commitment to offering credit through small retail loans.
IREDA upgraded from ‘Schedule B’ to 'Schedule A' CPSE
New Delhi: Renewable Energy Development Agency Ltd (IREDA), the largest pure-play green financing Non-Banking Finance Company in India, has been upgraded from 'Schedule B' to the 'Schedule A' category of Central Public Sector Enterprises.
Vivriti Capital Ltd to raise Rs 500 cr via NCD; issue openson Aug 18
Mumbai: Non-banking financial company (NBFC) Vivriti Capital Ltd today announced its first public issue of non-convertible debentures (NCDs) on Friday (Aug 18) to raise up to Rs 500 crore.
L&T Finance Holdings declares highest dividend till date
Pune: L&T Finance Holdings Limited (LTFH) has recommended a final dividend of Rs. 2 per equity share (face value Rs. 10 per share) for the financial year 2022-23 at a board meeting held on Friday.
RBI approves First Loss Default Guarantee program between fintechs and partner banks, NBFCs
Mumbai: The Reserve Bank of India (RBI) has given its approval to the First Loss Default Guarantee (FLDG) program, media reports said.
Non-banks can't load credit lines into prepaid credit instruments, RBI tells fintechs: Report
The Reserve Bank of India (RBI) on Monday issued a clarification on Prepaid Payment Instruments (PPIs) such as wallets and prepaid cards, stating that they cannot offer credit lines through these instruments, media reports said.