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'.
Seeing start of credit appetite, especially in the flow to NBFCs: Romesh Sobti
"The net slippages have come at 42 basis points compared to 46...
Do away with GST on services by microfinance companies: Industry's Budget wish-list
Highlighting the key demands, Sa-Dhan Executive Director ...
Bandhan Bank Q3 results: Profit more than doubles to Rs 731 crore
Non-interest income rose 52.99 per cent to Rs 358 crore from Rs 234 crore on a YoY basis. The company added 7.3 lakh customers during the quarter with total customer base at 1.9 crore as on December 31, the company said in a BSE filing.
Fusion Microfinance raises Rs 500 crore from Warburg Pincus, others
In December 2018, Warburg had invested Rs 520 crore in the company which achieved a 45 per cent growth in assets under management in 2018-19 financial year and had an outstanding portfolio of Rs 3,350 crore as of December 2019, the statement added.
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.
Kerala may take the lead in leveraging blockchain
The state plans to use blockchain technology to make its financial system more efficient and implement pilot government schemes by creating a talent pool of professionals in the field.
Fusion MFI gets Rs 500 crore from Warburg, others
Warburg has invested Rs 360 crore in the Fusion, while Creation has put in Rs 160 crore.
ESAF Small Finance Bank files papers for Rs 976 crore IPO
The Kerala-based SFB's IPO comprises a fresh issue worth Rs 800 crore and an OFS of up to Rs 176.2 crore.
View: Charitable trusts must not exert corporate control
A charitable trust cannot invest money in shares. But that privilege continues for the Tatas and Birlas.
Room for strong growth for microfinance in India: KPMG
"Microfinance is growing at 48 per cent CAGR in the last five years, there is still room for growth given that microfinance penetration is 25 per cent of the addressable market," KPMG India national head (Financial Services) Gayathri Parthasarathy said in a report. Microfinance players have also been actively pursuing activities beyond lending to meet their social objectives and improve their margins, the report added.
Lenders in Assam may be staring at 8% irrevocable bad loans in state portfolio
The repayment crisis in upper part of the northeast state begun in November when protesters demanding ban against microfinance activities in the state. In December, repayment dropped further with protests against the Citizenship (Amendment) Act, 2019 impacting business across the state.
Five NBFCs beat sector gloom, clock over 50% returns; Aavas tops at 117%
The list is dominated by micro and SME lenders who demonstrated better loan growth.
Axis Bank evaluating the acquisition route to scale up microfinance business
Axis Bank managing director and chief executive Amitabh Chaudhry said the bank has studied the market but has not found a perfect match yet. "We are evaluating opportunities all the time," he said, adding that the microfinance firms, which are doing well and can be a good fit, are mostly overvalued. "Nothing is on the cards at present."
CreditAccess Grameen to acquire Madura Microfinance
The transaction is subject to the approval of Reserve Bank of India, the Securities and Exchange Board of India and other regulators.
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