Muthoot Finance last week reported 90 per cent growth in profit after tax at ₹2,046 crore in Q1FY26 as against ₹1,079 crore in Q1FY25, led by improvement in asset quality and stable margins | Photo Credit: AMIT DAVE Belstar Microfinance, backed by Muthoot Finance, has started opening gold loan branches after the Reserve Bank of
“My shareholding has to be shifted to the NoFHC structure, where we need to figure out the process and the modalities,” Agarwal said. “We just got it (the approval) last night, so it takes some time, but it should not be so complex in my opinion. Also, we need to change our name from AU
The bank submitted its application to transition into a universal lender on September 3, 2024, under the RBI’s ‘on tap’ licensing guidelines (August 2016) and April 2024 framework for the voluntary conversion. “We have made history by receiving in-principle approval from the RBI to transition into a universal bank. This milestone is a reaffirmation of
Follow TNM’s channel for news updates and story links. The Banking Laws (Amendment) Act, 2025, aimed at improving governance standards in the banking sector and ensuring enhanced protection for depositors and investors, will come into effect from August 1, the Finance Ministry said on Wednesday. The Act, notified on April 15 this year, also seeks
Lenders can invest up to 20% of the corpus of AIF against 15% allowed in draft guidelines | Photo Credit: wutwhanfoto The Reserve Bank of India on Tuesday relaxed norms on lenders’ investments in schemes of Alternative Investment Funds (AIFs), allowing an individual lending entity to invest up to 10 per cent of the corpus
The government and the Reserve Bank of India are looking at the entry of new banks and merge some of the existing public sector banks to create a financial system that can encourage risk-taking ability to support the pace of growth in a country that is slated to be the third largest economy by 2027-28.
The Finance Ministry has granted an exception to the IDFC First Bank to raise its shareholding above 30 percent in Niraj Kakad Constructions. The decision comes after the recommendations from the Reserve Bank of India in the matter. In its notification, the Ministry of Finance said, “The provisions of sub section (2) of section 19
RBI directs banks to stop levying pre-payment charges on business loans for individuals and MSEs, effective January 1, 2026. New rules aim to improve access to affordable financing. Mumbai, Jul 2 (PTI) The RBI on Wednesday directed banks and other lenders not to levy any pre-payment charges on all floating-rate loans and advances, including for
Mumbai: Bank credit growth to non-banking financial companies (NBFCs) continues to lose steam, even after the Reserve Bank of India (RBI) rolled back tighter risk-weight norms earlier this year to support the sector. Experts said NBFCs are increasingly turning to bond markets for cheaper and quicker funding, while stress in microfinance and unsecured business loans
The inflows follow a 50-basis-point interest rate cut by the Reserve Bank of India (RBI) at its most recent Monetary Policy Committee (MPC) meeting, a move aimed at spurring growth amid controlled inflation levels. Foreign portfolio investors (FPIs) pumped a net Rs 13,107.54 crore into Indian equity markets during the week of 23 to 27