Reserve Bank of India on Thursday said 15 large NBFCs, including LIC Housing Finance, Bajaj Finance, Shriram Finance and Tata Sons, will be subject to enhanced regulatory requirements. The central bank has categorised NBFCs into Base Layer (NBFC-BL), Middle Layer (NBFC-ML), Upper Layer (NBFC-UL) and Top Layer (NBFC-TL). A list of 15 large Non Banking Finance Companies (NBFCs) falling in the Upper Layer category has been released.
Gold prices hit record high in the third week of March as fears of bank collapses and high inflation led investors to the traditional safe haven. Gold prices are often inversely correlated to dollar strength because the international price is dollar-denominated. The Federal Reserve's (Fed's) stance indicates that the dollar may appreciate further since it is prepared to keep pushing up policy rates. But demand for gold is also up - the World Gold Council claims central banks are buying in addition to private demand.
Future Gaming and Hotel Services whose director is the lottery magnate Santiago Martin is the top purchaser of electoral bonds having purchased bonds worth Rs 1,368, according to data uploaded by the Election Commission of India on its website on Thursday.
Although IPL 2023 had a drop in advertisers during opening match, TV and digital viewership has seen an increase by 29 percent.
Jio Financial Services, the demerged financial services unit of Reliance Industries, will be listed on bourses on August 21, according to an exchange notification. Jio Financial Services Ltd (JFSL) demerged from Reliance last month and is currently listed under a dummy ticker after its price discovery at Rs 261.85 but there is no trading happening in the scrip. The listing on BSE and NSE has been scheduled a day before FTSE Russell plans to drop JFSL from its indices.
An NCD's credit rating will tell you whether risk possibility is high or low. Instruments rated below AA are regarded as high-risk.
Global trends, the last batch of Q2 earnings and domestic macroeconomic data will dictate terms in the equity market, which had an extended weekend last week, analysts said. "FIIs' behaviour along with inflation numbers from US and China will remain key factors for this week. After an extended weekend, Indian markets are likely to start a fresh week with a positive note on the global backdrop. "However, there is a risk of selling pressure at higher levels as we are underperforming the global peers where the near-term texture has changed to 'sell on rise' from 'buy on dip'," Santosh Meena, head (research) at Swastika Investmart Ltd, said.
While taking gold out of the closet to borrow money is no longer taboo in Indian households, the sharp drop in gold prices is hitting the newest loan product on the banking turf hard, explains Tamal Bandyopadhyay.
The Kerala police on Tuesday claim they have arrested Kari Satheeshan, the prime accused in the Paul Muthoot murder case. Paul was the son of Muthoot M George, managing director of the Rs 20,000 crore Muthoot group of companies. Though the police claim Satheeshan has confessed to his crime, political parties have accused the police of trying to cover up the facts.
'Many of those who invested in NCD issues are those who traditionally put their money in fixed deposits...'
Fintech unicorn Razorpay has raised $375 million in the Series F round of funding at a $7.5-billion valuation, making it India's second-most valuable start-up in this space, after Paytm. The company valuation has surged over seven times in 15 months, helping it push Walmart-owned digital payments firm PhonePe to the third spot on the country's most-valuable fintech list. Razorpay's latest round of fundraising was led by Lone Pine Capital, Alkeon Capital, and TCV.
The calm in a locality in south Delhi was shattered on Thursday evening when multiple shots rang out inside a finance office. A young security guard, in an apparent show of frustration over low wages and lack of leaves, opened indiscriminate fire inside the office of Muthoot Finance Limited in Govindpuri Extension area.
The Virat Kohli-led Indian Premier League side Royal Challengers Bangalore on Friday unveiled its new logo ahead of the upcoming season starting March 29. The club said the new logo design, which features a lion, "embodies the bold and fearless attitude" of the side.
"A lot of PE investors are interested in renewable energy and we are exploring PE investments for our wind energy initiatives," said Thomas John Muthoot, chairman and managing director.
The murder of Paul Muthoot George, son of Muthot M George, managing director of the Rs 20,000 crore (Rs 200 billion) Muthoot group of companies, has shocked Kerala.
For the first time, consumers, including those at the so-called bottom of the pyramid, are monetising gold by taking loans from banks, offering the yellow metal as collateral, says Tamal Bandyopadhyay.
Ajit Mishra, vice president, research, Religare Broking, answers your stockmarket queries.
Gold loans can be released online or by bank transfers.
India is an under-penetrated ATM market with only 98 ATMs for every 10 lakh of population.
Ajit Mishra, vice president, research, Religare Broking, answers your stockmarket queries.
Shares of gold loan companies like Manappuram Finance and jewellery makers on Monday fell sharply by up to over 13 per cent, following weakness in gold prices which hit over 15-month low.
After a significant decline in business in the quarter ended June, leading gold loan companies are set to see a reversal of fortunes. In fact, the recovery already started in August, with a revival in the southwest monsoon.
The poor deployment of WLATMs has tripped what the central bank sought to achieve back in 2012.
Is there more than meets the eye to Kitex Garments, the world's second-largest children's garment producer, abandoning Kerala for Telangana?
This measure will ensure that the price of a scrip cannot move upward or downward beyond a limit set for the day.
There are almost 1 million people in India with a cleft palate or cleft lip who have not received any treatment to remedy their condition. Every year, almost 35,000 infants are born with cleft lip and palate, reports Geetanjali Krishna.
In the first phase, 400 professionals would be recruited and trained for the 37,000 square feet new facility housed at the special economic zone notified Muthoot IT park, Cognizant Vice-Chairman Lakshmi Narayanan told reporters in Koch.
Five to six issues may hit the market if Chalet Hotels's IPO is successful and if there are no negative surprises in the Union Budget on February 1.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The superstar refuses to endorse any label except for one regional cola brand at the start of his career almost four decades ago.
The amount you can raise via a gold loan is higher than you can get via a personal loan.
Equity investors should thank cash-rich biggies such as TCS, ITC, HUL, Nestl, and Bajaj Auto for this.
With liquidity crunch hitting operations, many finance companies have put the brakes on sanctions in the third quarter in the aftermath of the IL&FS crisis.
Looking at the response time, brands are proactively snapping ties with celebrities in the face of controversy.
Additional levy to eat into Rs 6,000-crore income of top promoters
Liquidity has improved, but 20 out of 24 NBFC stocks are staring at an over 5% reduction in 12-month target prices.
The Department of Post, Tech Mahindra, Videocon Group and stock exchange NSE have joined big corporates like Ambanis and Birlas to seek entry into banking business through newly created niche category of Payments and Small Finance Banks.
Unlike bank FDs that are considered risk-free investments, NCDs do carry a certain amount of risk, primary among them is the risk of default, either servicing the interest payment or meeting their principal repayment obligations.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Kerala floods take a toll on small businesses, NBFCs brace for losses
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