NBFC
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Business
Vivek Bansal and Sunil Daga to Launch MSME-Focused NBFC, Saarathi Finance
Vivek Bansal, Group CFO at InCred, and Sunil Daga, President at Kotak Mahindra Bank, are set to launch Saarathi Finance, an MSME-focused NBFC, after completing their notice periods. Saarathi Finance, registered in August and based in Mumbai, has applied for an NBFC license from the RBI and is in talks to raise Rs 600 crore in equity, aiming for a…
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Business
Bajaj Housing Finance Launches Rs 6,560 Crore IPO, Opens for Subscription Today
The highly anticipated IPO of Bajaj Housing Finance, worth Rs 6,560 crore, opens for public subscription today, September 9, with investors eagerly awaiting strong listing gains, as indicated by the grey market premium (GMP). On Friday, September 6, the company raised Rs 1,758 crore from anchor investors. This follows similar recent public listings of housing finance companies like Aadhar Housing…
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Business
TVS Credit Sees 20% Growth in AUM, Reports ₹140 Cr Net Profit
Bengaluru: TVS Credit Services Limited, one of India’s leading NBFCs, published its unaudited financial results for the quarter ended June 30, 2024. The Company reported Assets Under Management (AUM) of Rs. 26,351 Crore as of Jun’24, an increase of Rs. 4,427 Crore and a growth of 20% as compared to Jun’23. The Company’s Total Income increased by 19% year-on-year and…
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Money
RBI Tell Banks, NBFC to Scrutinize Potential “Wilful Default” Cases in NPA
The Reserve Bank of India (RBI) has issued new guidelines urging banks and Non-Banking Financial Companies (NBFCs) to scrutinize potential ‘wilful default’ cases in non-performing asset accounts with outstanding amounts of Rs 25 lakh and above. These directives, outlined in RBI’s latest Master Direction on the Treatment of Wilful Defaulters and Large Defaulters, will be applicable to all regulated entities…
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