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Mumbai Infrastructure Investment Trusts (InvITs) enjoy immunity from insolvency proceedings and should fall under the Insolvency and Bankruptcy Code, a senior SBI official said on Friday.Ashwini Kumar Tewari, managing director of the bank, said lenders need assurance that they can recover...

New Delhi [India], As part of the preparations for the Union Budget, Finance Minister Nirmala Sitharaman chaired the second pre-budget consultation here today with leading experts from the financial and capital markets sector.The discussions covered topics ranging from the NBFC sector, GST...

Mumbai, The Reserve Bank on Wednesday invited applications for recognition of self-regulatory organizations (SROs) for the NBFC sector under the central bank's omnibus framework.The applicant must have acquired a minimum net worth of Rs 2 crore within a period of one year after being...

New Delhi, UGRO Capital, an NBFC focused on MSME lending, on Tuesday announced the successful completion of its equity capital raising and allotment of compulsorily convertible debentures (CCDs) and warrants worth Rs 1,265 crore.UGRO said in a statement that the company's board had approved...

Mumbai, Fintech startup Fincel has raised Rs 15 crore in a bridge round led by Unicorn India Ventures and Cfund, with participation from other institutional investors.The company said the funds raised will be used to set up the NBFC to scale up lending operations and provide greater value to...

New Delhi, NBFC Moneybox Finance, which provides small business loans to micro entrepreneurs, on Tuesday reported a multifold rise in net profit to Rs 4.1 crore in the March quarter.The company had reported a profit of Rs 0.42 crore in the same period a year ago.According to a regulatory...

New Delhi: The Reserve Bank has asked NBFC companies not to disburse more than Rs 20,000 in cash on loan against gold in line with income tax laws.In an advisory issued to gold loan financiers and microfinance institutions earlier this week, the Reserve Bank of India has advised them to comply...

The country's largest pure-play green financing NBFC also said it has reduced its net non-performing assets (NPAs) from 1.66 per cent in FY 2022-23 to 0.99 per cent in FY 2023-24 from 40.52 per cent. Shows a significant decrease. Year-on-year percentage.IREDA's loan book has grown by 26.81 per...

New Delhi, Deposit-taking NBFC PHF Leasing Ltd on Tuesday said it has raised USD 10 million capital through equity and debt which will be used to expand into new areas.This comprises approximately 60 per cent equity and 40 per cent debt, the Jalandhar-headquartered company said in a release...