RBI takes stringent action against Paytm Payments Bank

Paytm group is not new to RBI’s penal actions. Check Paytm’s track for details. Earlier in March 2022, RBI had stopped Paytm Payments Bank (PPB) from onboarding new customers due to certain material supervisory concerns. The regulator had then directed the bank to appoint a reputed external auditor to conduct a comprehensive audit of it’s … Read more

Jio Financial shifting focus from unsecured to secured

Jio Financial Service (JFS) had earlier planned to concentrate on unsecured lending. Now it has decided to shift focus towards secured loans, including leasing. (It has also set up a 100% leasing subsidiary to undertake lease operations) “Large opportunity in the secured lending space. Noticeable market reaction vis-à-vis unsecured lending leading to calibrated approach towards … Read more

RBI reviews regulatory structure for HFCs

The Reserve Bank of India (RBI) on Monday took another step to harmonize regulations applicable to mortgage financiers and other non-bank lenders, proposing higher liquid assets to back deposits at housing finance companies, smaller aggregate deposits as a proportion of their own capital, and allowing them to issue co-branded credit cards. These are part of … Read more

Rural fintech firm Navadhan raises $5 mn from Prime Venture Partners, others

Rural fintech firm Navadhan has raised $5 million (about ₹40 crore) in a pre-Series A round led by Prime Venture Partners. Existing investors Gemba Capital and Varanium NexGen Fintech Fund also participated. The new funds will be used to enhance the company’s AceN tech platform, which connects small, rural businesses with NBFCs and banks, and … Read more

RBI sounds alarm bells over strong personal loan growth

The RBI is concerned about the strong growth in some personal loans and is watching out for any stress in that segment, asking banks, NBFCs and fintechs to strengthen their surveillance mechanisms. “Certain components of personal loans are recording very high growth… These are being closely monitored by RBI for any signs of incipient stress,” … Read more

Return asset papers within 30 days of loan repayment: RBI

The Reserve Bank of India (RBI) on Wednesday said regulated entities have to release original property documents to retail loan borrowers within 30 days of full repayment, and any delay would attract a penalty. This would include consumer credit, education loans, loans given to create or enhance immovable assets and loans for investment in financial … Read more

Piramal shares business plans

In an interview with ET, Piramal Enterprises (PEL) Chairman, Ajay Piramal projected the following. To double loan book by FY28 to about 1.2-1.3 lakh crore i.e., a CAGR of about 15% The growth will come significantly in retail through secured as well as unsecured lending. Like many other NBFCs, PEL is also banking on technology … Read more

Reliance AGM today: What to expect

The 46th Annual General Meeting (AGM) of Reliance Industries Limited (RIL) is being held on Monday. The RIL AGM is a major event for the Indian business community. The announcements made at the meeting could have a significant impact on the Indian economy. Investors are therefore eagerly awaiting the meeting to hear what Mukesh Ambani … Read more