New Delhi, Dec 18 (IANS) The prompt corrective action (PCA) framework for non-banking financial companies (NBFCs) will bring a further parity in terms of the regulations between banks and non-banks, said India Ratings and Research (Ind-Ra). Accordingly, the ratings agency cited
New Delhi, 15th December, 2021: PFC, a Maharatna company and India’s leading NBFC in the power sector, today signed an agreement to lend Rs 275 crore for deployment of 350 electric buses across nine cities of Uttar Pradesh. The agreement
New Delhi, Dec 15 (IANS) The Reserve Bank of India on Tuesday introduced the prompt corrective action (PCA) framework for non-banking financial companies (NBFCs), and it will come into effect from October 1, 2022, based on the financial position of NBFCs
Mumbai, Dec 4 (IANS) Tightening of norms may increase non-banking finance companies’ (NBFCs) headline non-performing advances (NPA) by around one third, India Ratings and Research (Ind-Ra) said. “The Reserve Bank of India’s (RBI) clarification on NPA accounting is likely to increase
Mumbai, Nov 11 (IANS) The average collection efficiency in ICRA-rated securitised retail pools originated by Non-Banking Finance Companies (NBFCs) and Housing Finance Companies (HFCs) improved significantly during Q2 FY22 on the back of continued decline in fresh Covid infections during the
Gurugram, 20th October 2021: In a first for any NBFC in India, REC Limited has successfully raised a USD 75 million, 5-year Secured Overnight Financing Rate (“SOFR”) linked Syndicated Term Loan on October 7, 2021, with Sumitomo Mitsui Banking Corporation (SMBC), Singapore
Mumbai, Oct 8 (IANS) RBI has extended dates for the classification of bank credit to focused NBFCs as priority sector lending till March 31, 2022. The provision ended on September 30 and a need was felt for extending the facility with
Mumbai, Oct 8 With a view to further strengthen the internal grievance redress mechanism of NBFCs, the Reserve Bank of India (RBI) on Friday decided to introduce the Internal Ombudsman Scheme (IOS) for certain categories of NBFCs which have higher
New Delhi: Power Finance Corporation Ltd (PFC), the leading NBFC in power sector,has successfully issued its maidenEuro 300 million 7 year Euro Bond issuance on 13.09.2021.The pricing of 1.841% achieved is the lowest yield locked in by an Indian Issuer in
New Delhi, Aug 24 The Ministry of Corporate Affairs has cautioned the public and stakeholders of ‘Nidhi’ businesses as none of the the companies scrutinised by the government so far have been able to satisfy the requisite criteria for being
New Delhi, July 10 Securitisation volumes by Non-Banking Financial Companies (NBFCs) and Housing Finance Companies (HFCs) are expected to have surged 2x and 3x on YoY (year-on-year) basis in Q1 FY22. Accordingly, securitisation volumes are expected to have risen to
Mumbai, June 20 The Finance Industry Development Council (FIDC) has urged the Ministry of Micro, Small & Medium Enterprises (MSME) to address issues faced by MSME borrowers and the NBFCs catering to these enterprises. The industry body of retail NBFCs had
New Delhi, May 23 The Confederation of Indian Industry has come up with several recommendations for changes in the Reserve Bank of India’s guidelines for appointment of statutory auditors by banks and NBFCs. Commending the RBI’s intent of working towards strengthening
Mumbai, April 29 The National Institute of Securities Market (NISM), in collaboration with CRISIL, on Thursday launched a certification programme in wealth management. It will cover the entire lifecycle of wealth management, equipping participants with deep conceptual understanding, and ability
Mumbai, April 27 The Finance Industry Development Council (FIDC) has written to the Reserve Bank of India (RBI) seeking permission to restructure loans given by NBFCs in the wake of the deep Covid crisis. The NBFC body, in its letter
New Delhi, April 19 The Finance Industry Development Council (FIDC) has urged the government to include the education sector under the Emergency Credit Line Guarantee Scheme (ECLGS). The NBFC body in a letter to Finance Minister Nirmala Sitharaman noted that
Chennai, April 8 Indian non-banking finance companies (NBFC) face asset quality and liquidity risks owing to second wave of Covid-19 pandemic, said credit rating agency Fitch Ratings. Fitch on Thursday said NBFCs will face increased challenges if the restrictions to
Mumbai, April 8 The Reserve Bank of India (RBI) has directed all banks and NBFCs to immediately put in place a board-approved policy to refund or adjust the ‘interest on interest’ charged to borrowers during the moratorium period of March
Mumbai, April 7 With a view to ensure continued availability of credit to agriculture, MSME and housing sectors and aid faster economic recovery, the RBI has extended the priority sector lending (PSL) classification for lending by banks to NBFCs for
Mumbai, March 31 The Reserve Bank of India (RBI) on Wednesday said that Non-Banking Financial Company – Micro Finance Institutions (NBFC-MFIs) will charge an applicable average base rate of 7.81 per cent from their borrowers during the April-June quarter. The
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