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NBFC counters rise as RBI extends NPA norms compliance date

NBFC counters rise as RBI extends NPA norms compliance date

🕔07:33, 17.Feb 2022

New Delhi, Feb 17 (IANS) Shares in the NBFC space have shown a healthy gains on Wednesday as the RBI provided an extension for the implementation of the new NPA rules. The RBI on Tuesday extended the deadline for non-banking financial

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Rising economic activity to boost NBFC-MFIs’ AUM in FY2023

Rising economic activity to boost NBFC-MFIs’ AUM in FY2023

🕔07:39, 8.Feb 2022

New Delhi, Feb 8 (IANS) Healthy demand along with increasing level of economic activity and rising vaccinations across the country is expected to boost non-banking financial companies-microfinance institutions’ (NBFC-MFIs) portfolio growth as well as profitability in FY2023. According to ICRA Ratings,

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NBFC PCA to bring parity between banks, non-banks: Ind-Ra

NBFC PCA to bring parity between banks, non-banks: Ind-Ra

🕔18:36, 18.Dec 2021

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

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PFC enters pact to finance 350 electric buses in Uttar Pradesh

PFC enters pact to finance 350 electric buses in Uttar Pradesh

🕔17:14, 15.Dec 2021

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

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RBI announces PCA framework for NBFCs, to be in place from Oct 2022

RBI announces PCA framework for NBFCs, to be in place from Oct 2022

🕔07:26, 15.Dec 2021

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

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Tightening of norms may increase NBFCs’ headline NPAs: Ind-Ra

Tightening of norms may increase NBFCs’ headline NPAs: Ind-Ra

🕔15:42, 4.Dec 2021

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

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NBFC collections for securitised retail pools remain steady

NBFC collections for securitised retail pools remain steady

🕔08:06, 11.Nov 2021

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

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REC Limited closes US$75million SOFR linked Term Loan with Sumitomo Mitsui Banking Corporation (SMBC)

REC Limited closes US$75million SOFR linked Term Loan with Sumitomo Mitsui Banking Corporation (SMBC)

🕔15:39, 20.Oct 2021

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

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RBI extends dates for classification of bank credit to focused NBFCs

RBI extends dates for classification of bank credit to focused NBFCs

🕔12:22, 8.Oct 2021

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

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RBI proposes Internal Ombudsman schemes for NBFCs with high customer interface

RBI proposes Internal Ombudsman schemes for NBFCs with high customer interface

🕔12:22, 8.Oct 2021

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

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“PFC issues India’s first-ever Euro Green Bonds”

“PFC issues India’s first-ever Euro Green Bonds”

🕔13:58, 16.Sep 2021

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

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Govt cautions public as 348 firms fail to meet norms as ‘Nidhi’ cos

Govt cautions public as 348 firms fail to meet norms as ‘Nidhi’ cos

🕔21:41, 24.Aug 2021

 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

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NBFCs, HFCs YoY securitisation volumes likely to have surged in Q1FY22

NBFCs, HFCs YoY securitisation volumes likely to have surged in Q1FY22

🕔07:15, 10.Jul 2021

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

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FIDC urges govt to address issues of MSME borrowers & NBFCs

FIDC urges govt to address issues of MSME borrowers & NBFCs

🕔06:04, 21.Jun 2021

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

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CII suggests changes in RBI norms for appointment of statutory auditors by banks, NBFCs

CII suggests changes in RBI norms for appointment of statutory auditors by banks, NBFCs

🕔18:43, 23.May 2021

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

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NISM, CRISIL launch certification for wealth managers

NISM, CRISIL launch certification for wealth managers

🕔13:37, 29.Apr 2021

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

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NBFC body urges RBI to allow loan restructuring

NBFC body urges RBI to allow loan restructuring

🕔18:39, 27.Apr 2021

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

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NBFC body seeks inclusion of education in ECLGS

NBFC body seeks inclusion of education in ECLGS

🕔16:32, 19.Apr 2021

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

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NBFCs to face asset quality, liquidity risk due to Covid 2.0

NBFCs to face asset quality, liquidity risk due to Covid 2.0

🕔11:06, 8.Apr 2021

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

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RBI asks banks to put in place policy to refund ‘interest on interest’

RBI asks banks to put in place policy to refund ‘interest on interest’

🕔04:43, 8.Apr 2021

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

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