Have you ever wondered what is the way out when your demands or desires outstrip your economic potential? For example, you may want to go to a European destination with your partner for a week-long trip, but do not have the adequate money in your bank, or want to add a small extension to your new…
Mumbai: State-owned Indian Renewable Energy Development Agency (Ireda) has sought government approval to sell up to 10% stake, as the non-bank lender aims to raise about â‚ą4,500 crore in equity to fund growth. “We are seeking the Government of India’s approval for allowing natural dilution of their stake by up to 10%. The government will…
If you are staring at the shortage of funds on account of a wedding party that you have planned, an unanticipated emergency that has arisen, or a vacation that you have been looking forward to — you can arrange the money via a personal loan. You can raise a personal loan from a government bank such…
Parthasarathy, by contrast, hasn’t copped as much of the blame despite the fact that Infrastructure Leasing & Financial Services (IL&FS), the non-banking financial institution (NBFC) he had joined as president and CEO in 1987, would by 2017 become a byword for financial skulduggery of a scale rarely seen before or since. Promoted by the Central…
Have you ever wondered what you would do if you had a fixed deposit with an NBFC but wanted to prematurely withdraw it due to an emergency? Well, the latest guidelines issued by the Reserve Bank of India (RBI) make provision for this. The banking regulator released a regulatory framework via a circular dated August…
Mumbai: The Reserve Bank of India (RBI) on Monday said housing finance companies (HFCs) will need to have higher liquid assets to back deposits, and allowed these lenders to issue co-branded credit cards, in a move to put them at par with their non-bank financier counterparts. These mandates were first proposed in draft guidelines released…
Mumbai: Bajaj Finance’s loan loss provisions surged in the first quarter (April-June) of this financial year, driven largely by muted collections and higher provisioning requirements for ageing delinquencies. This, the Pune-based non-bank lender said, has prompted it to now focus on improving its collection efficiency, which indicates the proportion of a loan’s repayment amount that…
