IIFL Finance Limited, a major player in India’s non-banking financial services sector, reported a consolidated net loss of Rs. 93 crores for Q2FY25. This significant loss comes against the backdrop of a regulatory embargo imposed by the Reserve Bank of India (RBI) on its gold loan business earlier this year. The company’s standalone net loss […]
Muthoot Microfin Limited (NSE: MUTHOOTMF, BSE: 544055), a forefront microfinance institution in India, has successfully announced the closure of a significant financial deal, securing a syndicated social term loan of USD 75 million in the form of an External Commercial Borrowing (ECB). This financial endeavor saw the participation of a consortium of banks including Standard […]
In a significant announcement for the digital payments landscape in India, the Reserve Bank of India (RBI) has confirmed that Paytm’s QR, Soundbox, and Card Machine services will continue to operate seamlessly beyond March 15, 2024. This clarification came as part of an RBI-released note addressing Frequently Asked Questions (FAQs) related to payment services. One97 […]
Mumbai-based RBL Bank (formerly Ratnakar Bank) said that it has been given authorization from the Reserve Bank of India (RBI) for collecting indirect taxes on behalf of the Indian Central Board of Indirect Taxes and Customs (CBIC). The authorization to RBL Bank is based on the Controller General of Accounts’ recommendation. Recently, the private sector […]
Rattanindia Enterprises, an Indian conglomerate which holds a significant stake in Revolt Motors, has welcomed a proposal from Niti Aayog to the Reserve Bank of India (RBI) to categorize loans to electric vehicles (EVs) as priority sector lending (PSL). By including EVs under priority sector lending, the costs of finance will be reduced and will […]