Share market update: NBFC stocks mixed; PNB Housing surges 8%
The NSE Nifty50 index was trading 44.20 points up at 11928.7.
Norms push NBFCs out of CP market
Commercial paper issuances were at ₹57,065 crore in October 2019, as per data with Prime Database.
Share market update: NBFC stocks mixed; AIIL gains 5%
The NSE Nifty50 index was trading 2.40 points up at 11,897.85.
9.2 million MSMEs to benefit from fintech era, 49% of them still prefer traditional lending over digital: Survey
Illustrating the increasing popularity of digital payment technology in recent times, the report, by digital payment solution provider further highlights that currently digital payment technology is marked by a high level of MSME user satisfaction.
Share market update: NBFC stocks mixed; IIFL Finance surges 8%
The NSE Nifty50 index was trading 82 points up at 11,954.10.
PaySense explores lending opportunity, acquires an NBFC
ET had in August reported that PayU was in talks to acquire PaySense in a potential cash-and-stock deal.
RBI’s panel suggests measures to strengthen core investment companies
The working group recommended capital contribution by CIC in a step down CIC, over and above 10%, should be deducted from its net worth.
NBFC crisis sparks gold rush for some lenders
Cash-for-gold lenders face risks of their own. A major one is the price of the metal.
RBI working group calls for stronger corporate governance norms in Core Investment Companies
The group has also recommended formation of board level committees for audit and remuneration for CICs as well as group risk management committees to address the concerns over corporate governance that were compromised over the years with opaque ownership structures in large conglomerates.
Share market update: NBFC stocks mixed; Reliance Capital slips 5%
The NSE Nifty50 index was trading 16.20 points down at 11,891.95.
Billionaire Ajay Piramal plans to step down from Shriram Capital
The Shriram Group is urging Piramal to continue as chairman even if he doesn’t hold any shares, founder R Thyagarajan said by phone.
Droom acquires Xeraphin to bolster fintech credit business
The Sandeep Aggarwal-led auto services company has paid an estimated $3-$3.5 million to acquire the Delhi-based NBFC, which is expected to drive loan disbursals for purchasing pre-owned vehicles, and provide dealer financing under the Droom Credit business unit.
Banks to face capital shortfall of Rs 3.5 lakh crore in event of systemic crisis in NBFC sector: Fitch
We assume that 30 per cent of banks' NBFC exposure becomes non-performing, said Fitch.
Share market update: NBFC stocks mixed; IIFL Finance climbs 7%
The NSE Nifty50 index was trading 31.65 points down at 11,980.40.
Three months after govt’s guarantee scheme, NBFCs still awaiting funds
Lack of clarity on whether to treat the transactions between the banks and NBFCs as ‘securitisation’ deals or as ‘pass-through certificates’ (PTC) is also impeding any movement, given that these have accounting implications. While ‘securitisation’ allows the entire profit to be booked upfront, in a PTC the profits must be booked over the tenor of the loan.
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