Decision to split the shares was taken on December 23, 2024. Previous Rs 10 share will now be split into 5 shares of Rs 2 each The split will be effective from January 10, 2025 Stock splits as such don’t add any fundamental value to the business or it’s prospects. The greater number of shares … Read more
The Centre has circulated a draft legislation to ban lending by unregulated entities, including by platforms, with violators facing imprisonment of up to seven years. Lenders, who harass and use unlawful means for recovery, face up to 10 years in jail, with those promoting such lending facing a term of up to five years. The … Read more
The co-branded card partnership has been one of the most successful and in running for 8 years. Existing portfolio of 3.4 mn co-brand credit cards issued till date will continue to operate as usual without any change Upon renewal, these cards will be reissued as RBL Bank branded credit cards Reason for termination Not immediately … Read more
HDFC Bank currently owns 94.6% in HDB Financial Services. The bank has announced a Rs 12,500 cr IPO of HDB. HDB incorporated in 2007, is a non-banking financial company (NBFC) that provides lending and business process outsourcing (BPO) services to individuals and businesses The lending involves both secured and unsecured loans and the BPO services … Read more
Godrej Capital (GCL), the financial subsidiary of Godrej Industries (GIL) was started in 2020. Since then it has been providing home loans in select geographies. It is the holding entity for Godrej Housing Finance (an HFC) and Godrej Finance Limited (an NBFC). The business is ramping up nicely and GIL has now shared the following … Read more
Fintech NBFCs may need to revisit their business model and temper loan disbursements in light of tighter funding and a regulatory warning on growth strategies, India Ratings (Ind-Ra) has cautioned. They need to be watchful in growing their unsecured consumer lending exposure in FY25 in the backdrop of an increase in funding costs, along with … Read more
The Tata group’s unlisted financial services businesses have reported hefty profits for the year, with Tata Capital, the group’s financial services business, reporting a profit of Rs 2,492 crore on revenues of Rs 13,309 crore, as per Tata Sons’ annual report for the financial year ended March 2024. The two insurance joint ventures, Tata AIA … Read more
SMFG India Credit Company Ltd is looking at a capital infusion of up to Rs 2,000 crore from its parent—Japanese financial services group SMFG—till 2026 to support future growth in India. The business plans factor in possible inclusion in the upper layer list of finance companies, requiring the listing of equity shares on bourses. Its … Read more