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The Latest Breaking News from NBFC

Kissht parent OnEMI Technology shares list at 11% premium over IPO price

OnEMI Technology Solutions, parent of digital lending platform Kissht, debuted on Dalal Street with an 11% premium over its IPO price. The Rs 926 crore IPO saw strong demand, particularly from institutional investors. Proceeds will bolster its NBFC subsidiary for future loan growth.

The Economic Times

Paytm rules out NBFC licence plans

Paytm, the fintech major, has decided against seeking a Non-Banking Financial Company license. The company prefers a partnership model for lending operations. This comes after Paytm Payments Bank's license was cancelled by the RBI. Paytm reported a consolidated profit of Rs 183 crore in its fourth quarter, a significant turnaround…

The Economic Times

Malankara Society’s rise and its deepening financial ties with Boby Chemmanur’s firms

Kerala businessman Boby Chemmanur’s financial muscle power is not just built through his gold jewellery business and a maze of Limited Liability Partnership (LLP) firms, as reported in the first part of this investigation. It is also tied to a series of acts through a cooperative society that he has…

Newslaundry

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Consumer panel orders NBFC to pay compensation for its failure to lift hypothecation

Ernakulam Consumer Disputes Redressal Commission orders NBFC to pay ₹1.2 lakh to customer for service deficiency.

The Hindu

Karnataka High Court relief to Razorpay in one of the Chinese-controlled loan apps fraud cases

The High Court of Karnataka has quashed criminal proceedings initiated against Bengaluru-based payment gateway, Razorpay Software Pvt. Ltd., by the Enforcement Directorate (ED), for allegedly facilitating the transfer of “proceeds of crime” generated through extortion of borrowers by a Mumbai-based non-banking finance company (NBFC) through mobile-based loan apps, allegedly controlled…

The Hindu

Reliance Capital auction: Torrent Group highest bidder at Rs 8,600 crore

NEW DELHI: Torrent Group on Wednesday emerged as the highest bidder for debt-ridden Reliance Capital in the auction conducted as part of its resolution process.

The Times of India

Piramal Enterprises demerger: All you need to know

NEW DELHI: The National Company Law Tribunal (NCLT) had on August 12 approved the demerger of Piramal Enterprises Ltd (PEL).

The Times of India

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Loan app fraud: ED attaches bank balance worth ₹105.32 crore

Proceeds of crime stand at ₹819 crore; total attachment is ₹264.3 crore so far

The Hindu

Delhi: Woman held for duping people by posing as executive of non-banking firms

NEW DELHI: A 27-year-old woman was arrested for allegedly duping people by impersonating as executive of different non-banking financial companies (NBFCs), police said on Sunday.

The Times of India

NSEL case: SAT notes serious charges against brokers, asks Sebi to probe afresh in 6 months

MUMBAI: The Securities Appellate Tribunal (SAT) has directed the Sebi to conduct an independent inquiry against five brokers and persons associated with the brokers, and probe their role in the Rs 5,600-crore NSEL payment default case afresh within six months.

The Times of India

NBFCs to see Rs 18 lakh crore loans getting repriced in FY23: Crisil

MUMBAI: Non-banking financial companies are likely to witness close to Rs 18 lakh crore of their outstanding debt getting repriced at higher levels in FY23 amid the rising interest rate scenario, Crisil Ratings said in a report on Tuesday.

The Times of India

Reserve Bank introduces principles for mid, large NBFCs

MUMBAI: Reserve Bank of India (RBI) on Monday introduced certain principles, standards and procedures for mid and large non-banking financial companies.

The Times of India

ED: NBFC with less than Rs 10 crore gave Rs 2,000 crore loans

HYDERABAD: The Enforcement Directorate (ED) investigating Chinese rogue loan apps cases and their money-laundering activities has opposed the bail petition of Pavitra Pradip Walvekar, the Pune-based promoter director of Kudos finance and investments company.

The Times of India

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