The Economic Times
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| 01 March, 2021, 05:47 AM IST | E-Paper


    SME lender NeoGrowth Credit launches digital initiatives for small borrowers

    The platform was conceptualised based on a research done during the pandemic that small businesses need to digitise their offerings to meet stiff competition from big brands and shopping apps and portals.

    Prepared to handle any responsibility given by govt: IIFCL MD

    The Union Budget 2021-22 presented in Parliament earlier this month proposed to set up a Development Finance Institution (DFI) with an initial capital of Rs 20,000 crore to fund the Rs 111 lakh crore ambitious National Infrastructure Pipeline (NIP).

    Committee set up to examine if payment gateway can be reporting entity under PMLA: Centre to HC

    The submission was made before Justice Prathiba M Singh by Additional Solicitor General (ASG) Chetan Sharma who said the committee held a meeting on February 23 and another is scheduled on March 4 after which it would submit its final report.

    BharatPe facilitates Rs 1,000 crore loan disbursal so far, targets Rs 1,250 crore by end of FY21

    While stating that it has enabled loans to over 1.1 lakh merchants across over 75 cities in India, BharatPe said it is likely to end up facilitating disbursals of Rs 1,250 crores in FY 21.

    Need to increase credit flow to businesses as economy grows: Modi

    "As our economy is growing, and growing fast, credit flow has also become equally important. You have to see how credit reaches new sectors, new entrepreneurs. Now you will have to focus on creation of new and better financial products for Startups and Fintech," Modi said.

    Private asset rejig companies will need cash to boost bad loans business

    According to banking sources, lenders have already identified corporate loans of over Rs 1.5 lakh crore to be transferred to the NARC, which will be promoted in the public sector. The NARC will offer to purchase bad loans at a negotiated rate. However, once a negotiated rate is struck, private ARCs will be allowed to better the bid.

    DHFL resolution: Company receives no objection from RBI, files application with NCLT

    In November 2019, the Reserve Bank had referred DHFL, the third-largest pure-play mortgage lender, to the National Company Law Tribunal (NCLT) for insolvency proceedings.

    NBFCs to be under the impact of Covid-19 even in the next fiscal, says ICRA

    ICRA expects NBFC's non performing assets (NPAs) to increase to 5.60% to 6.80% of loans at the end of the current fiscal from 4.50% reported at the end of fiscal 2020 and stay nrar those levels in fiscal 2022 NBFCs linked to auto financing and small businesses remain vulnerable to the post Covid shock.

    Central government asks investors to check antecedents of Nidhi companies before making investments

    Under the amended Companies Act, 2013 and the Nidhi Rules, 2014, companies need to get themselves updated or declared as Nidhi company by applying to the Ministry of Corporate Affairs (MCA) in form NDH-4.

    Indiabulls Real Estate, Embassy Group aim to complete merger by December end

    The merger that will create one of India's largest listed property development platforms has received nod from anti-monopoly watchdog the Competition Commission of India (CCI). It has also received regulatory approvals from the NSE, BSE, capital market regulator Securities & Exchange Board of India (SEBI).

    Home loan demand rising in mid, high-range segments

    Home loan demand rising in mid, high-range segments

    A total of around 46 per cent of the consumer preference is now in the range of Rs 30 lakh-Rs 1 crore and above category, with most of the demand being generated from the key residential markets of Bengaluru, Hyderabad and Delhi.

    Kerala Financial Corporation loan assets cross record Rs 5000 crore

    Kerala Financial Corporation loan assets cross record Rs 5000 crore

    "KFC has achieved the highest growth among the Government owned State Financial Corporations (SFCs) in India. This important achievement was facilitated by fresh loan sanctions of Rs 3385 crore so far in the current financial year," said Tomin J Thachankary, CMD of KFC.

    Indian fintech lenders grab turf from China as Google begins app clean-up

    Indian fintech lenders grab turf from China as Google begins app clean-up

    Most domestic fintech lenders that ET spoke with said that their business rose 20-40% month-on-month since December, when the crackdown started. Recently, Google pulled the plug on more than 500 instant-credit apps that had their roots in China and were not compliant with the central bank norms.

    Shriram Housing Finance aims to double loan book in two years

    Shriram Housing Finance aims to double loan book in two years

    The lender, which expects to close the year at Rs 3,700 crore, aims to close FY23 with a book size of Rs 10,000 crore. Bulk of the growth is expected to come from the affordable housing loan segment.

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