Unsecured retail loans have been growing at over 20 per cent in many banks and NBFCs for a very long time.
The Reserve Bank on Thursday tightened norms for consumer credit as it asked banks and NBFCs to assign a higher risk weight for unsecured personal loans.
Borrowings mainly for personal-use products, less for big-ticket buys
Total revenue from operations for JFSL rose about 48% on a sequential basis to Rs 608 crore.
Brokerage firm Motilal Oswal Financial Services also feels the stock can rise further after the company’s fundraising announcement.
There is a prescribed methodology to identify the NBFCs in the Upper Layer as per their asset size and scoring methodology.
In a meeting with MD''s and CEO's of upper layer non-bank lenders, the apex bank discussed risks associated with high credit growth in retail segment, particularly in unsecured lending space.
Two men, who were part of the Arumbakkam NBFC heist case last August, were arrested on Saturday for robbing an employee of a private firm to the tune of Rs 3.36 lakh last week.
This gives customers more options to choose and closes door for any exclusive tie-ups between banks and card networks.
A towering presence in NBFC sector Irinjalakuda - headquartered ICL FINCORP hardly needs an introduction.