Mumbai: Microfinance companies such as Ujjivan have either stopped or slowed lending in pollbound Uttar Pradesh, saying local politicians are spreading rumours that the demonetisation drive is something like a farm loan waiver and people need not repay their loans. “We are not lending in UP till …
Tag: NBFC
Alibaba ramps up B2B commerce play in India to aid SMEs
Amid talk of Alibaba’s foray into the consumer-facing e-commerce space in India, the Jack Ma-led Chinese internet behemoth has gone ahead and struck a string of partnerships to prop up its existing business-to-business marketplace venture here in India. Alibaba is partnering with DHL and De…
BlackSoil Capital closes its first venture debt deal of ₹15 cr with ‘nearbuy’
India’s largest local commerce platform nearbuy, raises venture debt of ₹15 crore from BlackSoil Capital Private limited. Featuring hyper local offers in segments like food & beverage, spa, salons, wellness & getaways nearbuy allows customers to discover the best things to do around them.…
We are here to bridge the funding gap for MSMEs | Harshvardhan Lunia, CEO, Lendingkart
Have a dream to fly giving wings to your unique business idea. Now is the time to get going! Gone are the days when your business idea would die an unsung death for want of viable funding. Welcome to the world of new-age fund missionaries: if your SME business idea has business potential, Lending…
Arpwood, Indostar vie for $400m Karvy NBFC
At least two bidders — Arpwood Capital, and Indostar Capital Finance (which is jointly owned by Everstone Capital and Goldman Sachs) — are in the fray to acquire the non-banking finance company (NBFC) Karvy Finance, people directly familiar with the matter said. Karvy Finance is a lender to micro…
Mahindra Finance to raise Rs 1000 cr from NCDs
Mahindra Finance said it will raise Rs 1,000 crore through retail bond sale. The public issue of thecthe first from the company, will open on May 25 and closes on June 10, said the NBFC from the Mahindra group. Mahindra Finance Vice Chairman and Managing Director Ramesh G Iyer said it is their ma…
Anshu Jain, ex-colleague Bhupinder Singh to launch NBFC in India
Deutsche Bank’s former co-chief executive Anshu Jain is partnering with former colleague Bhupinder Singh to launch a non-bank finance company in India, counting on the millions underserved by the banking sector in his home country. The NBFC will lend to individuals, SMEs and entrepreneurs, …
Now, Payjo’s bot will recharge your phone
Fintech payments startup Payjo has launched its product Recharge Bot, an application virtualisation platform for recharging prepaid phone accounts through Facebook messenger, the product has seen up to 2,000 users since its launch over 48 hours ago. The application does not need to be downloaded …
Vermillion sets Rs 100 Crore loan disbursal target
Vermillion Finalytics, which runs the online portal LoanXpress, has set itself a loan disbursal target of Rs 100 crore for the current fiscal. The Mumbai-based company has sanctioned a dozen loans amounting to Rs 32 crore since its launch in November 2015, its Founder Pratapsingh Nathani told. &#…
Despite high target, Mudra refinance to remain low
Even as the government has set a lofty target of Rs 180,000 crore of loan sanctions under its Mudra Yojana, the actual refinance by Mudra, Non-Banking Finance (NBFC) arm of Small Industries Development Bank of India (SIDBI), will be not more than Rs 4,000 crore this year. In the 2015-16 budget,…