Nbfc

Fintech NBFCs sanctioned 8.3 crore loans worth Rs 81,365 crore between Apr-Dec 2024

Fintech NBFCs sanctioned 8.3 crore loans worth Rs 81,365 crore between Apr-Dec 2024

28 Mar 2025, 16:32 PM

However, quarter-on-quarter sanction value declined by 15% in Q3 FY24-25 compared to Q2 FY24-25.

RBI invites applications for SRO in account aggregator space

RBI invites applications for SRO in account aggregator space

17 Mar 2025, 14:46 PM

In its notification, the central bank said that the interested parties should apply through the PRAVAAH portal before June 15.

Student lending platform Kuhoo Finance gets NBFC licence from RBI

Student lending platform Kuhoo Finance gets NBFC licence from RBI

12 Mar 2025, 15:33 PM

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.

Indifi posts revenue jump in FY24; profit declines

Indifi posts revenue jump in FY24; profit declines

07 Mar 2025, 15:24 PM

Indifi’s cost of bad debt written off surged two times to Rs 45 crore in FY24.

BharatPe’s NBFC Trillion Loans FY24 statement: Auditor flags ‘material weakness’ in financial controls

BharatPe’s NBFC Trillion Loans FY24 statement: Auditor flags ‘material weakness’ in financial controls

25 Feb 2025, 08:57 AM

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.

OfBusiness

OfBusiness' lending arm Oxyzo secures Rs 100 crore in debt

24 Feb 2025, 22:49 PM

The proceeds will be used to augment the long-term resources of the company and meet working capital requirements.

PhonePe plans to surrender account aggregator (NBFC-AA) licence

PhonePe plans to surrender account aggregator (NBFC-AA) licence

07 Feb 2025, 17:01 PM

The fintech giant plans to exit the account aggregator (AA) space, and said it will partner with other AAs.

SME lender BizLoan raises Rs 35 crore from Michael & Susan Dell Foundation, others

SME lender BizLoan raises Rs 35 crore from Michael & Susan Dell Foundation, others

28 Jan 2025, 15:22 PM

The NBFC aims to expand its footprint, particularly in underserved markets, enhance its loan product offerings, and invest in advanced technology...

RBI cancels NBFC licence of X10 Financial, backer of 30 digital loan apps

RBI cancels NBFC licence of X10 Financial, backer of 30 digital loan apps

22 Jan 2025, 14:22 PM

X10, according to the RBI, violated guidelines on the code of conduct in outsourcing of financial services in its digital lending operations.

Amazon to acquire digital lender Axio (Capital Float)

Amazon to acquire digital lender Axio (Capital Float)

16 Jan 2025, 21:53 PM

Once the acquisition receives regulatory approval, it will make Amazon the first big tech company in India to gain access to an NBFC license through Axio.

Infinity Fincorp raises $35 million from Jungle Ventures, others

Infinity Fincorp raises $35 million from Jungle Ventures, others

09 Jan 2025, 20:08 PM

This investment boosts Infinity’s net worth to Rs 530 crore, the company said in a statement.

RBI lifts loan disbursal restrictions on DMI Finance, Asirvad Micro Finance

RBI lifts loan disbursal restrictions on DMI Finance, Asirvad Micro Finance

09 Jan 2025, 19:14 PM

In October, the banking regulator had barred four NBFCs to "cease and desist" from sanction and disbursal of loans.

InCred Finance eyes Rs 4000-5000 crore IPO next year; appoints CFO

InCred Finance eyes Rs 4000-5000 crore IPO next year; appoints CFO

24 Dec 2024, 18:18 PM

Last week, InCred Finance, the consumer and MSME lending arm of the InCred Group, appointed Gaurav Maheshwari as its chief financial officer.

SME lender Aye Finance board approves IPO plan

SME lender Aye Finance board approves IPO plan

14 Dec 2024, 00:47 AM

Aye Finance has received its board approval to launch Rs 1450 crore ($174 million) initial public offering (IPO).

Digital lender Avanti Finance raises $14.2 million from Dia Vikas Capital, others

Digital lender Avanti Finance raises $14.2 million from Dia Vikas Capital, others

11 Dec 2024, 11:45 AM

Existing investors IDH Farmfit Fund, NRJN Family Trust, Rabo Partnerships and select HNIs.

Education-focussed lender Varthana raises $15 million from BlueOrchard

Education-focussed lender Varthana raises $15 million from BlueOrchard

11 Dec 2024, 11:27 AM

The funding will be used to expand the NBFC's lending portfolio, providing private schools and vocational students in tier II and tier III cities...

The curious case of Jammu-Based NBFC,

The curious case of Jammu-Based NBFC, 'Mahashakti Financiers'

10 Dec 2024, 10:42 AM

The Pandora’s box opened when the Reserve Bank of India called the new directors of this NBFC to a meeting on November 8…

RBI lifts ban on Sachin Bansal-led Navi Finserv

RBI lifts ban on Sachin Bansal-led Navi Finserv

02 Dec 2024, 18:49 PM

In October, the banking regulator had barred Navi Finserv and three other NBFCs to "cease and desist" from sanction and disbursal of loans.

SME lender Lendingkart sees marginal fall in FY24 profit

SME lender Lendingkart sees marginal fall in FY24 profit

26 Nov 2024, 19:06 PM

Revenue from co-lending - which accounted for 54% of the operating revenue - jumped by 88% to Rs 591 crore in FY24.

RBI bars fintech lenders Navi, DMI Finance, and others from issuing new loans

RBI bars fintech lenders Navi, DMI Finance, and others from issuing new loans

17 Oct 2024, 21:20 PM

This action, according to the RBI, is based on material supervisory concerns observed in the Pricing Policy of these companies.

Fintech Hightlights

  1. MobiKwik reports Rs 1.26 crore fraud by ex-employee

  2. smallcase raises $50 million led by Elev8 Venture Partners

  3. Fintech infra firm OneStack raises $2 million in Series A

  4. Fintech NBFCs sanctioned 8.3 crore loans worth Rs 81,365 crore between Apr-Dec 2024

  5. Zaggle to acquire 45.33% in PoS firm Effiasoft for Rs 36.72 crore
  6. Read more highlights...

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