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The Ministry of Finance and Karandaaz have launched Pakistan's first special credit guarantee company, the National Credit Guarantee Company Limited (NCGCL), to provide financial assistance to small and medium-sized enterprises (SMEs) in the country. The NCGCL aims to enhance financial accessibility for SMEs by offering special credit guarantee facilities. The launch of NCGCL is seen as a significant institutional reform that will facilitate capital investment for small businesses. The company plans to create tailored products for the Pakistani market, serving over 1.5 million SMEs and a market volume exceeding PKR 3.7 trillion. [Extracted from the article]

The document provides a snapshot of recent mergers and acquisitions in the financial sector. It highlights investments made by Pantomath's Bharat Value Fund in Haldiram Bhujiawala, Easy's $35 million funding round led by Claypond Capital and SMBC, and the upcoming Niva Bupa Health Insurance IPO with investors like Temasek and Amansa Group. These developments reflect the growing interest and investments in India's financial and healthcare sectors. [Extracted from the article]

The Reserve Bank of India injected funds into the banking system to prevent overseas outflows and festival-related cash withdrawals from increasing banks' cost of funds. Navi Finserv withdrew its bond sale after the RBI banned the company from issuing new loans. Choice Finserv acquired the retail lending business of two Jaipur-based lenders in a slump sale transaction. [Extracted from the article]

The article discusses the impact of recent actions by the Reserve Bank of India on fintech firms' co-lending partnerships with non-banking finance companies. Fintech firms, which cater to sub-prime customers with unsecured credit at higher interest rates, may face challenges in their business models due to concerns raised by the RBI about usurious interest rates. Additionally, Indian banks are experiencing difficulties in attracting customer deposits to mitigate rising credit costs, leading to a slowdown in loan growth, especially in retail segments. This information is relevant for those researching the financial industry in India and the challenges faced by fintech firms and banks in the current economic climate. [Extracted from the article]

Former HDFC executives have launched a new home loan venture called Weaver Services, securing Rs 800 crore from private equity funds Gaja Capital and Lok Capital. The funds will support the company's expansion plans across India and a Rs 267 crore acquisition of Capital India Home Loans. Additionally, Fullerton Financial Holding, an investor in Lendingkart, has committed Rs 252 crore to further enhance the fintech company's reach in underserved markets and technology capabilities. The investments aim to promote financial inclusion for small businesses in India, reflecting a commitment to empowering communities and fostering success. [Extracted from the article]

Mortgage lenders in India, including PNB Housing Finance, Godrej Capital, Sammaan Capital, and Housing & Urban Development Corporation, are planning to raise over $2 billion through overseas loans. These housing finance companies are seeking alternative options to raise capital due to increasing funding costs. They are also diversifying into the affordable housing segment. In another development, Inox Wind, a wind energy solutions provider, has signed an agreement with a consortium led by ICICI Bank for a finance facility of Rs 2,200 crore, which may be increased to Rs 2,400 crore. The agreement includes non-fund limits such as bank guarantees and letter of credits. [Extracted from the article]

According to the article titled "NBFCs witness higher deposit growth than banks, records 21% rise in FY24," non-banking finance companies (NBFCs) in India, including Bajaj Finance, Chola Invest, and HDB, have raised $1.3 billion through overseas bank loans as they diversify their funding. In FY24, NBFCs have seen a 21% increase in their deposit base, while banks have only experienced a 13.5% rise. The article also mentions that 90% of Indian financial institutions are focusing on artificial intelligence (AI) and Generative Artificial Intelligence (GenAI) for innovation, according to a report by PwC India. [Extracted from the article]

EQT, a global investment firm, has announced its acquisition of Indostar Home Finance, an Indian affordable housing finance company, for INR 17.5 billion (USD 210 million). EQT will also invest INR 5 billion to support further growth. Indostar Home Finance, founded in 2017, provides affordable mortgages to retail customers in tier 2 to tier 4 cities in India and has rapidly grown to over INR 24 billion in assets under management. The company has a network of more than 130 branches and employs over 1,000 people. [Extracted from the article]

The article provides three separate updates on infrastructure projects in India. The first update discusses the National Highways Authority of India (NHAI) awarding a Toll, Operate, and Transfer (TOT) bundle for ₹6,661 crore. The concessionaire will maintain and operate a 251 km stretch on the Hyderabad-Nagpur corridor for 20 years. The second update states that wagon makers are expected to achieve 20% revenue growth this fiscal year, driven by a healthy order book and improved operations. The third update mentions that the Deendayal Port Authority plans to issue a tender for the construction of three new oil jetties under a public-private partnership model, aiming to enhance the port's liquid cargo handling capacity. [Extracted from the article]

The article discusses three different topics related to the finance industry. Firstly, it highlights the challenges faced by exporters in India due to rising commodity prices, increased freight rates, and geopolitical tensions. Secondly, it mentions the Financial Action Task Force's (FATF) proposed disclosure standards for cross-border online transactions, which could lead to higher compliance costs for banks and credit card companies. Lastly, it mentions Union Bank of India becoming the first major bank to become a signatory of the Partnership for Carbon Accounting Financials (PCAF), aligning with global efforts on climate risk management. The government of India also aims to extend an additional Rs 5 lakh crore in credit guarantees to micro and small enterprises through the CGTMSE scheme. [Extracted from the article]

India is advocating for increased information sharing on cross-border payments at the Financial Action Task Force (FATF). The country wants credit card companies, fintech firms, and payment aggregators to disclose more information so that law enforcement agencies can easily identify the sender and recipient in financial transactions. Additionally, the FATF recently released a mutual evaluation report on India, placing the country in the "regular follow-up" category, which is the highest rating given by the global watchdog. India's consumption loan portfolio grew by 15.2% to Rs 90.3 lakh crore as of March 2024, with a slowdown in the home loans segment contributing to the deceleration in growth. [Extracted from the article]

Moneyboxx Finance, a BSE-listed Non-Banking Finance Company (NBFC), has raised INR 176 crore to support micro-entrepreneurs and expand to 160 branches. The capital raise includes INR 63 crore from a preferential equity issue and INR 113 crore through equity warrants. Over two-thirds of the funds came from promoters and existing shareholders, indicating confidence in Moneyboxx's growth strategy. The company's net worth has increased by over 50% with the capital infusion and is projected to double with the full INR 176 crore investment. [Extracted from the article]

Vodafone Idea, a telecom service provider in India, has achieved the Payment Card Industry-Data Security Standard version 4.0 (PCI DSS 4.0) certification for its retail stores and payment channels. This certification ensures that customer credit/debit card information is protected from theft and fraud. The certification is already mandated by RBI Guidelines for banking and financial institutions in India. In other news, a joint venture between Foxconn and the HCL Group has secured land in Noida, Uttar Pradesh, for setting up a semiconductor outsourced assembly and testing (OSAT) unit. This would be the first OSAT unit in Uttar Pradesh pending approval from the central government. Additionally, market trackers predict that the iPhone 16 series will help Apple achieve a record 8% share in the Indian market in 2024. [Extracted from the article]

PayU, a fintech firm backed by Naspers, plans to expand its consumer vertical by utilizing the LazyPay mobile application. While merchant payments will remain the core of its business, PayU aims to build a full stack consumer payments and credit business using LazyPay. PayU has grown from an online merchant payments business to a full stack fintech firm in India through acquisitions and the development of its credit business. Sumitomo Mitsui Financial Group (SMFG), Japan's second-largest bank, has taken full control of its non-banking finance company, SMFG India Credit Co (SMICC), and has infused Rs 1300 crore to enhance the company's capital for growth. SMICC expects its consolidated assets under management (AUM) to increase by 29% by the end of the current fiscal year. The Reserve Bank of India is investigating large write-offs of overseas investments by several companies, suspecting potential fraudulent fund movements. The RBI is ensuring compliance with audit reports and valuation confirmations to validate the legitimacy of these investments. [Extracted from the article]

The article provides a snapshot of the finance industry, highlighting three key topics. Firstly, Navi, a fintech firm led by Sachin Bansal, has launched a Credit Line on UPI product in partnership with Karnataka Bank. This product offers pre-approved credit to registered Navi customers. Secondly, the Reserve Bank of India (RBI) has issued guidelines allowing depositors to seek premature withdrawal of deposits opened with NBFCs (Non-Banking Finance Companies). Lastly, declining bank deposits raise concerns about the fund-raising capacity of NBFCs, with the credit-deposit ratios posing a potential issue. The report emphasizes the importance of enhanced regulatory supervision for the stability of the sector. [Extracted from the article]

According to a report by Crisil Ratings, the new deposit norms issued by the Reserve Bank of India (RBI) are unlikely to be burdensome for housing finance companies (HFCs). The report states that most HFCs have limited reliance on public deposits and only a few may need to enhance their liquidity profile. The revised regulations, which include acceptance of public deposits, maintenance of minimum liquid assets, and repayment of public deposits, will be implemented in phases starting from January 1, 2025. In other news, India's exports contracted by 1.2% in July, causing the trade deficit to widen to USD 23.5 billion. Imports rose by about 7.45% due to increased shipments of crude oil, silver, and electronic goods. [Extracted from the article]

Arka Fincap, a non-banking finance company specializing in SME and MSME lending, is in talks with three large public sector banks, including Indian Bank, State Bank of India, and Indian Overseas Bank, for co-lending partnerships. Co-lending involves partnerships between a bank and a non-bank lender to offer loans to different segments. In other news, the growth of the asset reconstruction sector moderated to 15% in the previous financial year, impacted by the decline in gross non-performing assets in the banking system. However, the redemption of security receipts by asset reconstruction companies has risen by 30% due to strong economic growth. [Extracted from the article]

Piramal Capital, a non-bank lender, is planning to raise up to $400 million through its first overseas bond issue. The company is working with several leading banks, including Deutsche Bank and Citigroup, for this initiative. The funds raised will support Piramal Capital's retail business, which has experienced significant growth in recent years. The company is initially looking to raise $300 million, with the potential to increase to $400 million based on demand. [Extracted from the article]

Indiabulls Housing Finance has officially changed its name to 'Sammaan Capital Limited' after receiving the necessary certificates from the Registrar of Companies and the RBI. The company plans to submit applications to the stock exchanges for a change of name and trading in its new name and symbol. They will also update their branches, website, stationery, and conduct customer outreach campaigns. In Indian advertising, there is a growing trend of adapting messages to resonate with hyperlocal tastes and community identities, reflecting a consumer demand for culturally rooted stories. [Extracted from the article]

Punjab National Bank (PNB) has signed an agreement with India Infrastructure Finance Company (IIFCL) to provide long-term financial assistance to viable infrastructure projects. The two institutions will collaborate to fund these projects through consortium or multiple lending arrangements, subject to due diligence. This Memorandum of Understanding (MoU) aims to find new avenues of lending to infrastructure projects in India. PNB is one of the oldest banks in India, offering a wide range of services to various audiences. In other news, Unified Payment Interface (UPI) transactions reached a new record in May, processing 14.04 billion transactions worth 20.45 trillion rupees. This represents a significant increase compared to previous months and years. Immediate Payment Service (IMPS) transactions also saw a slight increase in volume and value. [Extracted from the article]

The article provides three energy-related updates. Firstly, it states that over 32 crore Indians now use LPG, with 86.6% of sales in the domestic sector, highlighting the continued reliance on LPG as a primary energy source in Indian households. Secondly, Avaada Energy has successfully closed financing of about Rs 315 crore for a solar PV power project in Karnataka, which will be developed under a long-term captive Power Purchase Agreement with Karnataka Cooperative Milk Producers' Federation Limited. Lastly, India Ratings and Research has upgraded Adani Green Energy Ltd's long-term issuer rating to 'IND AA-' from 'IND A+' with a stable outlook, citing strong operational asset performance and healthy counterparty diversification as factors contributing to the upgrade. [Extracted from the article]

LeafyBus and AMU have joined forces to introduce 10 new electric inter-city buses, aiming to reduce carbon emissions and offer a cost-effective travel option. The buses, financed by AMU, will initially operate on busy routes like the Delhi-Dehradun corridor. Equipped with safety features like CCTV surveillance and real-time tracking, these buses prioritize passenger safety and convenience. [Extracted from the article]

Kotak Mahindra Bank has announced its acquisition of Standard Chartered Bank India's personal loan book valued at ₹4,100 crore. The agreement was finalized on October 18, 2024, with Kotak Mahindra Bank disclosing the outstanding loan amount as of September 30, 2024. This development may impact fintech firms relying on co-lending partnerships with non-banking finance companies, following recent regulatory actions by the Reserve Bank of India. [Extracted from the article]

The article "India's 250 million smart meter target by 2025 unlikely to be met - ICRA" discusses the challenges in meeting India's goal of installing 250 million smart meters by 2025. As of December 2023, only 8 million smart meters had been installed out of the 98.7 million awarded. Additionally, another report mentioned in the article estimates that India will need around USD 200 billion in investments to develop renewable energy assets by 2030, aligning with the country's renewable energy goals. [Extracted from the article]

Housing finance companies (HFCs) have proposed to the government to increase the guarantee cover for affordable home loans up to ₹ 25 lakh from the current ₹ 5 lakh. The revamped scheme aims to provide up to 75% guarantee on a ₹ 25 lakh home loan, benefiting a wider set of customers in low-income housing categories in 124 districts. Additionally, startups raised $10 billion in the July-September quarter, showing a 15% decline in total funding compared to the previous quarter, as reported by market intelligence firm 1Lattice. [Extracted from the article]

The article discusses a decrease in the number of deals in the finance industry, with only 229 deals in Q3 compared to 318 in Q2. It highlights some of the top funded startups during this period, including PhysicsWallah, Zepto, and Rapido. Additionally, the Competition Commission of India (CCI) has approved JM Financial's acquisition of a 43% stake in JM Financial Credit Solutions, a subsidiary of JM Financial Ltd engaged in wholesale lending activities. [Extracted from the article]

RBI Governor Shaktikanta Das warned Non-Banking Finance Companies (NBFCs) against pursuing aggressive growth without sustainable business practices and risk management frameworks. He cautioned that an 'growth at any cost' approach could be detrimental to their own health. The warning was issued during the Monetary Policy Committee meeting on October 9, 2024, emphasizing the importance of responsible growth in the finance industry. [Extracted from the article]

The article "3 financial stocks look good, real estate is overdone: Samir Arora" discusses insights from Samir Arora, Founder of Helios Capital, who believes that certain non-banking financial companies (NBFCs) are poised for success, while microfinance companies are currently avoided. Arora highlights the positive outlook for HDFC Bank, Kotak Bank, and Bajaj Finance, which have shown promising stock price performance. Additionally, Finance Minister Nirmala Sitharaman predicts a significant increase in Indians' living standards, projecting a rapid growth in per capita income over the next few years. [Extracted from the article]

According to a release by TransUnion CIBIL, the share of new-to-credit (NTC) consumers in originations dropped to 12% in the June quarter, the lowest ever recorded. This is a decline from 16% in the previous year. The consistent decline over the past five years suggests that there is significant potential for lenders to provide credit opportunities to these customers. Increasing NTC originations would also help lenders reduce concentration risk in their credit portfolios. [Extracted from the article]

Bajaj Finance, Chola Invest, and HDB Financial Services have raised a total of $1.3 billion in overseas bank loans. This comes as these non-banking finance companies (NBFCs) seek to diversify their funding following stricter regulations by the Reserve Bank of India (RBI). Bajaj Finance and Cholamandalam Investment and Finance Co raised $700 million and $300 million respectively, while HDB Financial Services is in the final stages of completing a $300 million loan. Additionally, NBFCs have seen a 21% increase in deposit growth in FY24, outpacing the modest 13.5% rise in banks. [Extracted from the article]

Aye Finance, a non-banking finance company based in Gurugram, India, is set to raise Rs 250 crore in a funding round led by ABC Impact, a Singapore-based impact investment fund backed by Temasek. British International Investment, which led Aye Finance's previous funding round, is also participating. This funding will bring Aye Finance's total equity funding to Rs 1,250 crore, allowing the company to raise further debt from its lending partners. Onsurity, an employee healthcare benefits provider in India, has secured $24 million in Series B funding led by the International Finance Corporation, with participation from Nexus Venture Partners and Quona Capital. This funding will support Onsurity's growth and expansion. [Extracted from the article]

The Reserve Bank of India (RBI) has imposed penalties on HDFC Bank and Axis Bank for non-compliance with directives. HDFC Bank was fined Rs 1 crore and Axis Bank was fined Rs 1.91 crore. The penalties were imposed because HDFC Bank opened savings deposit accounts in the name of eligible entities and provided gifts, while Axis Bank did not comply with certain directives. India is also advocating for more information sharing on cross-border payments at the Financial Action Task Force (FATF). [Extracted from the article]

The Reserve Bank of India (RBI) has imposed monetary penalties on four entities, including SMFG India Credit Company, BNP Paribas, Hewlett Packard Financial Services (India) Pvt Ltd, and Muthoot Vehicle & Asset Finance, for rule violations. The penalties range from Rs 7.90 lakh to Rs 31.80 lakh. This action by the RBI is aimed at enforcing compliance with regulations in the finance industry. [Extracted from the article]

Accel Atoms 4.0, a pre-seed scaling program by global venture capital firm Accel, has been launched to invest up to $1 million in startups focused on 'Bharat' and AI. The program aims to support visionary founders and promising entrepreneurs in these two distinct cohorts. Additionally, chosen startups will receive perks worth over $5 million from Accel network partners. This initiative builds on the success of previous editions and aims to make the startup journey as smooth as possible. [Extracted from the article]

According to a report by rating agency Crisil, road engineering, procurement, and construction (EPC) companies in India are expected to experience slower revenue growth of 5-7% in the next fiscal year. This is due to a decrease in national highway awarding, which is impacting their order books. However, Crisil states that the credit profiles of these companies will remain stable, supported by steady operating profitability and strong balance sheets. In related news, the government is working on a policy to extend the lifespan of national highways by using a technique called "white-topping" to strengthen aging asphalt pavements. The Ministry of Road Transport and Highways is seeking comments on a draft policy that outlines the technique and its benefits. [Extracted from the article]

The article focuses on American Express reporting a significant 39 present increase in second-quarter profits, driven by higher cardmember spending and an increase in customers carrying balances, with earnings reaching 3.02 billion U.S. dollar compared to 2.17 billion dollar a year ago.

The first article discusses the Bank of Baroda's provision in the GoFirst bankruptcy case, stating that the bank is confident in fully recovering the loans due to the high collateralization of the account. The second article reports that Bijith Bhaskar, ICICI Bank's head of cards and payments, has resigned for personal reasons after 21 years with the bank. The third article highlights a report showing that women in India are outpacing men in credit uptake, indicating their growing business and wealth creation ambitions, with many women utilizing digital tools for their businesses. [Extracted from the article]

According to data released by the Ministry of Statistics and Programme Implementation, the Indian government completed 281 central infrastructure projects costing over ₹150 crore in the fiscal year 2023-2024, representing the second-highest completion rate in nearly a decade. However, the proportion of delayed projects has increased, with 41.6% of central government projects being delayed as of March 2024. Additionally, worries have arisen over the Reserve Bank of India's stricter draft guidelines on the financing and accounting of project loans, which could potentially impact the balance sheets and valuation multiples of state-owned banks, non-banking finance companies, and infrastructure firms. RailTel Corporation, a state-owned company in India, is exploring international business opportunities and targeting major infrastructure projects in Vietnam. [Extracted from the article]

The article provides a snapshot of the finance industry, highlighting the rising trend in the current account-savings account (CASA) ratio for several banks in the fourth quarter. It also reports that Tata Group has approached the Reserve Bank of India (RBI) seeking a waiver to avoid listing its holding company and non-banking finance firm, Tata Sons, as required by revised regulations. Additionally, the article mentions that Indian banks are considering using iris scans for transaction authentication, particularly for senior citizen customers, due to the distortion of fingerprints or thumb impressions with age. [Extracted from the article]

The article discusses two main topics. Firstly, the Reserve Bank of India (RBI) has shortened the time frame for regulated entities, such as commercial banks, to submit reports in order to reduce compliance burden and obtain information faster. Secondly, some lenders have approached the RBI seeking exemption for government-backed infrastructure finance companies from the increased risk weights on their loans to non-banking finance companies (NBFCs), which has made bank borrowing more expensive for these entities. Additionally, Union Minister of Commerce and Industry Piyush Goyal emphasized the importance of Indian startups and their innovation across various sectors. [Extracted from the article]

India's largest non-banking finance company, Bajaj Finance, is planning to borrow up to $500 million offshore due to stricter regulations limiting domestic options. The company is currently negotiating the terms of the loan with a group of foreign banks, and the debt's tenor may range from three to five years. The pricing of the loan will be linked to the Secured Overnight Financing Rate, a common benchmark for deals in Asia. [Extracted from the article]

EQT, a buyout group, is a top contender to acquire affordable housing finance company Aavas Financiers Ltd as the current promoters, private equity firms Kedaara Capital and Partners Group, are looking to exit their investment. EQT is competing with two other private equity firms, CVC Capital Partners and Bain Capital, for the deal. The binding offers are expected in early August. In other news, the average cost of data breaches in India reached $2.18 million in 2023, a 28% increase since 2020, with phishing being the most prevalent form of cyberattack. [Extracted from the article]

Piramal Capital and Housing Finance, an Indian shadow lender, is planning to issue its first dollar-bond sale in order to secure funding amidst tighter regulations by the Reserve Bank of India. The company is in discussions with global investment banks to raise $300 million to $500 million through these bonds, which will have a tenor of three to five years. The move comes after the Reserve Bank of India implemented a rule change in November to curb risky debt, making it more expensive for shadow lenders to obtain bank loans. [Extracted from the article]

According to a finance industry snapshot, securitization volume in Q1 FY25 increased by 17% to Rs 45,000 crore. This growth was driven by active participation from banks as originators, offsetting the impact of HDFC's absence. The rise in personal loan securitization was supported by pass-through certificates originated by a private sector bank. In other news, HDFC Bank shares may receive increased attention due to a potential weight change in the MSCI Standard Index, which could result in significant inflows. [Extracted from the article]

Several banks in India have requested clarification from the Reserve Bank of India (RBI) regarding guidelines issued on March 6. These guidelines require banks and non-banking financial companies to offer customers the option to choose from multiple card networks for credit cards. The directive will come into effect on September 6, 2024. One suggestion is that the guidelines should only apply to new credit card customers, allowing existing customers to continue with their current network until renewal. [Extracted from the article]

The Reserve Bank of India (RBI) has urged banks to revise their business plans due to the ongoing gap between credit and deposit growth rates, which poses challenges in managing liquidity, re-pricing, and rollover risks. RBI Governor Shaktikanta Das emphasized the need for a balanced approach between assets and liabilities. Additionally, the governor cautioned non-banking finance companies (NBFCs) and microfinance firms against charging high rates on small loans, stating that the regulator will monitor the growth and risks associated with unsecured loans. [Extracted from the article]

Punjab National Bank (PNB) has signed an agreement with India Infrastructure Finance Company (IIFCL) to provide long-term financial assistance to viable infrastructure projects. The collaboration between the two institutions will involve consortium or multiple lending arrangements to support prospective borrowers, subject to due diligence. This Memorandum of Understanding (MoU) is seen as a significant step in finding new avenues for lending to infrastructure projects in India. PNB is one of the oldest banks in the country, offering a range of services to a diverse audience. [Extracted from the article]

Ford Motor has appointed Sherry House, former CFO of Lucid Group, as its next CFO. House will join the company in June as vice president of finance and will transition to the CFO role in early 2025. She will succeed John Lawler, who will become vice chair. Ford's EV business is currently facing challenges due to slow demand in the industry, with the company projecting a loss of $5 billion to $5.5 billion this year. House's appointment comes as Ford aims to build a profitable EV business and generate new revenue streams. [Extracted from the article]

The article discusses the Indian political party Bharatiya Janata Party's (BJP) election promises of job creation, infrastructure development, and welfare expansion if it wins a third term under Indian Prime Minister Narendra Modi, aiming to address concerns over unemployment, inflation, and rural distress in India. It mentions creating jobs in various sectors, expanding welfare programs, and economic growth while facing criticism from the opposition over past performance and empty promises.