Leading non-banking financial company (NBFC) Shriram Finance on Friday said Japan-based MUFG Bank would invest Rs 39,618 crore, or $4.4 billion, to acquire a 20 per cent stake on a fully diluted basis through a preferential issue of equity shares.
'The tools of warfare are changing. The MoD must deepen its engagement with technology thinkers that can present compelling visions of where warfare may be heading.'
Credit Information Bureau India Limited has entered into an agreement with 31 leading micro finance institutions to set up a credit information bureau for MFIs.
Radical Islamist networks are deliberately targeting Muslim youths embedded within the country's professional and academic ecosystems, leveraging their skills, mobility, and digital reach to quietly strengthen operational capabilities. This trend highlights a dangerous evolution in terror recruitment -- one that exploits ideological faultlines, online echo chambers and transnational radical Islamist influences to attract individuals who outwardly embody India's modern and aspirational narrative, points out Dr Kanchan Lakshman.
'With a very stable technology with limited functionalities, a large network has spanned out.'
'The dakiyas will be our partners, receiving credit proposals from micro-enterprises at the grassroots level.'
Finance Minister Nirmala Sitharaman on Tuesday asked fintech firms to focus on risk management at a time when criminals are using AI to mimic voices, clone identities and create lifelike videos to manipulate people.
Micro-finance institutions (MFIs) are planning to take legal action against YES Bank's move to recall a part of its loans to them.
UPI has catapulted India into the forefront on the global digital payments landscape. Working hand in hand, the AePS payments system is making life easy for rural folks, notes Tamal Bandyopadhyay.
In the Union Budget for Financial Year 2023-24 (FY24), Finance Minister Nirmala Sitharaman had held forth on the need for better governance and investor protection in the banking sector. She had proposed certain amendments to the Reserve Bank of India Act (RBI Act), 1934; the Banking Regulation Act (BR Act), 1949; and the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970.
Commercial banks have turned cautious in lending to smaller microfinance institutions (MFIs), which has compelled the latter to borrow from non-banking financial companies (NBFCs) at much higher rates. Recently Reserve Bank of India (RBI) Deputy Governor M Rajeshwar Rao slammed micro lenders for increasing their margins "disproportionately" and said these lenders were quick to pass on the increased cost to the borrowers but reluctant to pass on the benefits under the new regime, where margins are not capped.
'We need to be far more careful given the fact that while this is group lending, it's essentially unsecured.'
The Reserve Bank of India (RBI) has barred four non-banking finance companies (NBFCs), including two microfinance institutions (MFIs), from sanctioning and disbursing loans for charging exorbitant interest rates to the borrowers. These four entities are Asirvad Microfinance, Arohan Financial Services (also an MFI), DMI Finance, which provides personal, consumption, and micro, small and medium enterprises loans, and Flipkart co-founder Sachin Bansal's Navi Finserv, which offers home and personal loans. The ban will take effect on October 21 to "facilitate closure of transactions in the pipeline", the regulator said in a statement.
Pushpal Shinde now earns some Rs 50,000 a month.
New players show up after 3 years; northern states take lead in loan growth.
A vast majority of borrowers are in the essential services' supply chain with tiny and micro businesses, and this has sprung back.
One of the factors behind the rise in securitisation deals was State Bank of India's (SBI) decision to buy portfolio worth Rs 45,000 crore from NBFCs
Draft guidelines for Small Banks and Payments Banks were issued by the RBI in July and comments were invited till August 28.
For smaller MFIs, resuming operations is more difficult because they haven't got any fresh bank credit sanctioned from their lenders.
Even today, many MFIs already distribute pension and micro insurance products to low-income households.
The Adani group has exited the financial services business by selling its entire 90 per cent stake in Adani Capital and Adani Housing to private equity (PE) firm Bain Capital for Rs 1,440 crore. The total valuation of the Adani financial services business stands at Rs 1,600 crore. Gaurav Gupta, managing director (MD) and chief executive officer (CEO) of the Adani firms will hold the rest of the stake.
Race for Asia's No. 1 MFI spot: Bandhan now closes in on Grameen Bank
A bunch of CEOs in their mid-30s and early 40s are trying to rectify the scenario where shady lending applications trap hapless borrowers with astronomically high interest rates and even bodily harm if the money was repaid. Anup Roy reports.
Bandhan Bank to fund SMEs, create jobs, says FM
Pulbic banks have no reason to cheer Budget announcement.
MUDRA bank will help microfinancing firms to lend more.
While the total disbursement of housing loans by PSBs as well as HFCs witnessed a deceleration in 2016-17, there was significant growth for the lower slabs
For people at the bottom of the pyramid, which I would rather address as mass market or emerging class; the primary challenge in accessing banking services are not just affordability but applicability and accessibility of services.
The niche banks - small finance and payments banks -have been set up to further the regulator's objective of deepening financial inclusion.
Industry experts estimate that demand for loans from the sector outstrips supply by more than $80 billion.
To deepen the financial inclusion process, and help get more people under the formal financial system, the RBI has mooted the idea of small banks and payments banks.
Each postman has undergone a three-tier training process, after which they were evaluated by the National Institute of Banking and Finance and given certificates.
Mumbai-based Dream11, which is run by Sporta Technologies Private Limited, reported a profit of Rs 181 crore (Rs 1.81 billion) in FY2020, making it one of the few Indian consumer-tech unicorns to have turned profitable.
In 2012, Akula quit as chairman of Bharat Financial Inclusion (formerly SKS Microfinance), which he'd founded and led to a successful initial public offering
Jaitley's team presents a quintessential mix of foreign-educated, intellectual technocrats and seasoned bureaucrats
Indian economy about to take-off
Or, what will the Indian policy process allow it to be, says Ajit Balakrishnan.
'We have promised to ensure reduced tax rates.'
The BSE and the NSE have also been asked to provide inputs.
New Delhi bureaucrats, accustomed to leisurely lunches, golf in the afternoon and long weekends, have been shaken out of their somnolence, say authors. Fear and suspicion hang heavy over the red-sands.
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