Bajaj Finance Sees New Loans Growth Of 10% After RBI Lifts Curbs
Bajaj Finance Ltd.'s Assets under management rose 31% to Rs 3.54 lakh crore in the three months through June, according to a provisional quarterly business update filed with stock exchanges on Wednesday.
The non-banking financial service provider's loan book grew by 10% year-on-year to 1.09 crore in the quarter-ended June, after it resumed sanction and disbursal of loans under ‘eCOM' and ‘Insta EMI Card' and issuance of EMI cards, following the central bank's removal of restrictions on these businesses in early May.
The Reserve Bank of India in November had barred the company from lending under its two offerings due to non-adherence to the digital lending guidelines—non-issuance of key fact statements to borrowers and deficiencies in KFS issued with respect to other digital loans sanctioned by the company.
The reversal of RBI's restrictions happened based on the remedial actions taken by the company, Bajaj Finance said.
Net liquidity surplus stood at Rs 16,200 crore as of June, while the company's deposits book came at Rs 62,750 crore, a growth of 26% year-on-year.
Shares of Bajaj Finance closed 1.25% higher at Rs 7,251.8 apiece, ahead of the announcement, as compared to 0.69% advance in the benchmark S&P BSE Sensex.
-
Navigating Energy Crossroads: S Jaishankar's Call For Diversified Supply Chains At G20 Ministerial Meeting
As geopolitical fault lines continue to test maritime trade routes and commodity flows, Jaishankar's message remains pertinent: true economic resilience requires open markets, protected transit lines, and a genuine commitment to multilateral cooperation rather than coercion.
-
Indians Are Travelling, But Not Every Journey Is A Holiday | The Week In Whys
Pilgrims, patients and working women are the real travellers, and the system hasn't quite caught up with them.
-
Getting To Work Costs Women More | The Reason Why
It is not just about women paying more than men. It is about women paying much more in cities than in villages.
-
AI Bias In Investing Cannot Be Eliminated, But It Can Be Governed
Framing is a particularly important example as identical financial information presented in terms of gains rather than losses can lead an LLM to reach a different assessment.
-
Joining The Dots | Dark Skies, Steady Diya: Why Hope Holds This Diwali
With war, a weak rupee and foreign outflows weighing on sentiment, policymakers at the NDTV World Summit and market veterans at NDTV Profit Ignite: Diwali Edition offered the same advice: stay invested and filter out the noise.
-
The Curious Case of Equitas Small Finance Bank And A CEO Who Quit For Stock
PN Vasudevan believes persistent investor concerns over a perceived conflict of interest had become a governance overhang on Equitas Small Finance Bank's stock, even as the lender improved profitability and asset quality.
-
Talking Points This Week: AI Cash Burn, A Tiger Comeback And An India That Still Finds Its Own Path
India is not immune to higher oil or tighter global liquidity, yet its earnings base is broader, its domestic policy levers are still available.
-
Foreign Investors Own Half Of HDFC Bank and ICICI Bank. An LTCG Cut Could Matter Most Here
Foreign portfolio investors have US$115 billion parked in HDFC Bank, ICICI Bank. If the government cuts long-term capital gains tax, Jefferies says returning foreign money could land here first.
-
'Never Seen This Level Of Negativity': Sandeep Tandon Says The Next Rally May Be Closer Than You Think
Veteran investor Sandeep Tandon says foreign selling is easing, large-caps are due a comeback and mid-caps are crowded, while he turns positive on gold, power and pharma this Diwali.
