The initial public offering (IPO) of fintech company MobiKwik may hit a significant roadblock with the new rules for P2P lending implemented recently by the Reserve Bank of India (RBI) and these can affect the company's business too.
As per the Reserve Bank of India (RBI), the Indian financial system remains resilient and is gaining strength from broader macroeconomic stability.
The Reserve Bank of India (RBI) on Friday tightened norms for Non Banking Financial Company-Peer to Peer (NBFC-P2P) Lending Platforms to improve the transparency and compliance.
Fintech NBFCs doubled their share in six years, accounting for 65% of the loan sanction volume and 11% of the loan sanction value in the overall personal loan market in FY23-24.
Indian banks and non-bank finance companies (NBFCs) are well placed to seize opportunities from the country's strong economic prospects through lending growth in sectors such as infrastructure, energy transition, manufacturing, small businesses and retail, a Moody’s report said on Wednesday.
REC has declared a final dividend of Rs 5 per equity share and the total dividend for FY 2023-24 now works out to Rs 16 per equity share.
This has led to a significant growth of 26.71% in the loan book, which now stands at Rs 59,650 crores.
Public sector Non-Banking Finance Company (NBFC), REC, on Tuesday registered its highest ever nine-month profit of Rs 10,003 crore.
Comments on the draft circular are invited from NBFCs, HFCs and other stakeholders by February 29, 2024.
Reserve Bank of India (RBI) Governor Shaktikanta Das on Wednesday expressed grave concern over the high “concentration” of credit that NBFCs were availing from banks to finance their lending operations and said this has emerged as “a risk” in the system.
