George Alexander Muthoot, MD, Muthoot Finance, says “the RBI instruction is an universal one, applicable to all NBFCs. The Reserve Bank is clarifying that more than Rs 20,000 should not be paid in cash. I do not think there is any impact of that because even otherwise most of our customers have bank accounts and … Read more
Mumbai: Tinkering with the interest rate alone may not help with the repayment ability of home loan borrowers, according to a research paper supported by the Reserve Bank of India. Prudential measures like risk weights and loan-to-value adjustments, along with interest rates, will be more effective in repayments of loans. This will also help in … Read more
AdaniConneX is in the final stage of discussions to raise $900-950 million (₹7,500-7,920 crore) through a six-year offshore loan from a group of eight lenders, including MUFG Bank, Sumitomo Mitsui Banking Corp (SMBC) and Standard Chartered Bank, people with knowledge of the matter said. The loan agreement is set to be signed early this week, … Read more
Mumbai: Bajaj Finance, India’s largest non-banking finance company by assets, reported a 22% increase in net profit for the quarter ended December 2023 to ₹3,639 crore from ₹2,973 crore a year earlier, driven by strong loan growth. Assets under management (AUM) grew 35% to ₹3.10 lakh crore during the quarter from ₹2.30 lakh crore a … Read more
