Access to low-cost technology and cheap funds is perhaps one of the biggest challenges faced by the nation’s small businesses. But, even as small businesses across the country go through a bad patch, lenders are willing to take on the risk and give them the support they need. Similarly, technolog…
Tag: NBFCs
Demonetisation | Impact assessment
India had its own 9/11, as it woke up to the demonetisation of high-value currency notes. It is arguably the boldest, newest, largest, riskiest and most influential reform since 1991. This exercise would cause inconvenience to everyone in the country in the short term but prove helpful in the med…
Education loans firm Shiksha gets funding from Michael & Susan Dell Foundation, Aspada
Chennai-based school financing company Shiksha Financial Services India Pvt. Ltd has received about Rs 6.7 crore ($1 million) from The Michael & Susan Dell Foundation along with Aspada Investment Company, said a statement. Shiksha Finance provides loans in the range of Rs 0.5 to 10 million (…
Currency Switch Impact | RBI gives small borrowers 60 extra days to repay credit
The Reserve Bank of India (RBI) on November 21 said small borrowers, who have been facing the brunt of demonetisation, would get an additional 60 days to repay their credit, including agriculture and housing loans. Borrowers with loans up to Rs 1 crore from banks and finance companies would be el…
Services NBFCs are providing to SMEs to support their growth
The Small and Medium Enterprise (SME) sector has been playing a key role in the emergence of India as one of the leading economies of the world. The sector is fomenting inclusive growth of our country by creating employment opportunities through industrialisation in the rural and semi-urban areas…
DIPP notifies 100% FDI in more financial services
The commerce and Industry Ministry notified 100 percent foreign direct investment in ‘other financial services’ carried out by NBFCs. The move will help attract foreign capital into the country. “The government has liberalised its FDI policy in Other Financial Services and non-b…
5 crucial aspects money lenders check before disbursing credit
Written exclusively for SMEpost.com by Harshvardhan Lunia, Co-Founder & CEO of Lendingkart Technologies The universal law of business states that ‘money makes money’. Every businessman is well-aware of the scope and opportunity that the influx of capital can bring to their business. This is w…
Mudra reports Rs 66 cr net profit in first year of operation
Micro Units Development & Refinance Agency (Mudra) on October 3 reported a net profit of Rs 66 crore and an income of Rs 364 crore in the first year of its operations. Mudra Chairman Kshatrapati Shivaji said the company’s net profit and deferred tax adjustments stood at Rs 65.93 crore w…
Enhance credit absorption capacity of weaker sections, RBI tells financial intermediaries
The Reserve Bank of India wants financial intermediaries such as banks and non-banking finance companies to focus on a ‘3x3x3’ matrix so that small and marginal farmers, micro and small enterprises (MSEs), and low-income earners in the unorganised sector are financially included. Speaking at a BR…
Aadhaar, eKYC, UPI to fuel innovation in fintech, says report
Financial technology built around India Stack, (a set of tools to build software) Aadhaar, electronic know your customer (eKYC) process and Unified Payments Interface (UPI) will fuel innovation that can help 400 million more Indians access credit, insurance and investment opportunities, a report …