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India's gold loan market to touch Rs 4,617 billion by 2022

"Moving forward, these companies are expected to focus on optimising their asset utilisation and leveraging their existing branch infrastructure to maximize the branch-level AUM and customer outreach," KPMG India said in the report 'Return of gold financiers in India's organised lending market'.

RBI should act as lender of last resort, provide liquidity to NBFCs: SBI

In its report on Budget expectations, the economists said RBI should "seriously think" of providing liquidity to NBFCs against the assets held by the lenders. "Given the crisis of confidence in the financial markets, it is imperative that central banks don't forget their primary function of being the lender of the last resort," they said.

Bain Capital looks to team up with Sunil Munjal to buy Max Financial Services

Apax Partners also approached; Hero Corp & Analjit Singh currently in exclusive discussions

IL&FS case: NCLAT to provide formula for distribution of proceeds among creditors

The tribunal have also asked some of the lenders to file revised framework proposed by the Ministry of Corporate Affairs within a week, stating their position in the resolution of IL&FS group, which has a cumulative debt of over Rs 90,000 crore.

Five easy steps to make yourself investment ready

One of the biggest drawbacks today is the lack of awareness. We often follow what is blindly told to us, either by our parents, friends or financial advisor....

KKR infuses $150 million 'confidence' capital in India NBFC arm

This is the second time the parent is infusing ‘confidence’ capital after putting in $100 million in 2009, when the PE group launched its credit business in India in what was then hailed as a pioneering strategy. Till date its other investors Abu Dhabi Investment Authority (ADIA) and Texas Teacher Retirement System have each infused $100 million.

Edelweiss Financial Services asked to appear before ED on Wednesday

The development follows the statement by the company's Chairman Rashesh Shah stating the firm has no relationship with Capstone Forex, which is being investigated by the ED for foreign exchange rules violation. The ED had recently summoned Shah in connection with the company's dealings with Capstone Forex Pvt Ltd.

Shapoorji Pallonji Group raises $200 mn against Tata Sons shares

This short-term finance is part of a larger round of balance sheet restructuring to reduce debt.

Court rejects Actis plea against call by Super-Max founder

Super-Max on February 8, 2018 moved a requisition to convene an extraordinary general meeting to ratify appointment of the four new directors. It had also sought to appoint an executive chairman for TMPL and amend its articles of association.

Reliance Home investors plan more actions to recover dues

Complaints to the National Financial Reporting Authority (NFRA), the regulator of CA firms, are likely to cite failures of Grant Thornton and PwC in spotting irregularities, market sources said. Investors have also demanded a copy of the forensic audit conducted by Grant Thornton. PwC was the statutory auditor of Reliance Home Finance.

Reliance Home Finance gave Rs 12,000 crore loans to 'indirectly linked' borrowers: Forensic audit

Reliance Home Finance gave Rs 12,000 crore loans to 'indirectly linked' borrowers: Forensic audit

The forensic auditor found “anomalies” in the credit appraisal process of the home financier and noted that more than 80% of disbursals comprised corporate loans to a group of 47 borrowers that shared these common characteristics, according to these people. This included similar registered addresses, common directors and key management personnel.

Morgan Stanley PE unit close to buying 20% in Centrum HF

Morgan Stanley PE unit close to buying 20% in Centrum HF

Centrum Housing Finance, which started operations in 2016, is a stepdown subsidiary of Centrum Capital, the listed group entity of Centrum. The firm reported revenue of Rs 37.64 crore in financial year 2019 compared to Rs 10.4 crore in the previous year. Its profit after tax stood at Rs 1.4 crore during the period compared with Rs 18.9 lakh in FY18, its annual report showed.

Forensic audit finds no fraud, fund diversion at Reliance Home Finance

Forensic audit finds no fraud, fund diversion at Reliance Home Finance

Lenders of the company had appointed Grant Thornton for the audit, as required under the RBI guidelines.

Financial services sector: Tackling demand and credit crises

Financial services sector: Tackling demand and credit crises

With banks risk-averse & NBFCs facing liquidity crunch, the sector wants to regain confidence to restart lending.

PFC ceases to be among five largest creditors of IL&FS

PFC ceases to be among five largest creditors of IL&FS

IL&FS will seek directions from the NCLAT for removal of Power Finance Corporation (PFC) as one of the top five creditors, due to the transfer of wind power assets.

IFC eyes 4.5% in Navi Tech for $30 mn

IFC eyes 4.5% in Navi Tech for $30 mn

Navi Technologies is in the process of acquiring 100% stake in microfinance company Chaitanya Rural Intermediation Development Services Private Limited, which has a fully owned subsidiary, Chaitanya India Fin Credit Private Limited, which has made an application to the central bank for a universal banking licence.

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