DSP Finance acquires Volt Money
The acquisition is expected to bolster DSP Finance’s offerings in loans backed by financial assets, particularly mutual funds.
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The acquisition is expected to bolster DSP Finance’s offerings in loans backed by financial assets, particularly mutual funds.
The matter relates to Paytm’s December 6, 2023 announcement that it would reduce the distribution of personal loans below Rs 50,000, particularly its postpaid loans.
BharatPe Capital currently manages a loan book of over Rs 1,750 crore and disburses around Rs 3,500 crore annually.
The latest action is part of the RBI’s ongoing efforts to strengthen oversight of the NBFC sector.
The fresh capital will be used to strengthen the platform's lending capabilities and support its growth,
The company will use the fresh capital to boost financing for solar energy solutions across rural India.
The average sanctioned ticket size during the April-December period was Rs 15,493.
The IPO comprises of fresh issue of shares worth up to Rs 1,500 crore, and an offer for sale (OFS) worth up to Rs 1,500 crore.
The investigation unit has registered a case under the Banning of Unregulated Deposit Schemes (BUDS) Act, 2019, and the probe is on.
After regulatory tightening, fintech lending adapted through MSMEs and LAP – creating growth that looks safer, but may not be.
Earlier in February this year, CreditAccess had raised $50 million from International Finance Corp (IFC).
Flexiloans will use the fresh capital to boost its operations, improve product offerings and upgrade its infrastructure.
Performance pressure is mounting at BharatPe, triggering leadership shakeups and engineering changes ahead of its IPO, sources say.
The Gurugram-headquartered fintech has appointed a new CEO of Trillion Loans, and moved its key personnel to the NBFC unit, effective immediately.
Securis Finance aims to offer education loans to teenagers across India.
However, quarter-on-quarter sanction value declined by 15% in Q3 FY24-25 compared to Q2 FY24-25.
Over the past two and a half years, Kuhoo Finance has processed more than 100,000 student applications and facilitated loans worth over Rs 300 crore for 15,000 borrowers.
The NBFC had reported Rs 232 crore in operating revenue in its 2023 financial statement, but its FY24 filings now show revenue of Rs 109 crore for the same period.
The RBI wants lenders to eliminate foreclosure charges or pre-payment penalties on all floating rate loans availed by individuals and micro and small enterprises.
More than a month after the RBI’s crackdown on peer-to-peer (P2P) lending, the Lendbox-MobiKwik partnership is showing cracks, with investors facing a lack of transparency.