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.
It was revealed that the ownership documents as well as particulars of borrowers were false, forged & manipulated. The complainant NBFC company, suffered a huge loss due to this act of cheating and fraud.
With this the firm will be one of the top-40 Indian companies by market capitalisation. The list is headed by Reliance at $233 billion.
The Capital Adequacy Ratio of the company stands at a comfortable 25.78 per cent as on March 31, 2023, implying ample opportunity to support future growth.
The accused Mrs. Amrita Kindo, Managing Director of Diya Diary Agro Processor Pvt. Limited had availed the loan by resorting to fraudulent practice from another Bhubaneswar-based NBFC Annapurna Finance Private Limited.
The US Agency for International Development (USAID) is an international development agency of the US government and works towards uplifting lives
