Sundaram Home registered a 51 per cent jump in net profit for the third quarter ending December 31, 2022 at Rs 53 crore on disbursements of Rs 986 crore. On the inauguration of new branch in Coimbatore, he said, "We have a strong presence in the Coimbatore region for our home finance business."

The delinquency levels are lower by 300 basis points (bps) from their peak levels during Covid-19, the rating agency said.

This is 100-150 basis points higher than the 10% margin cap these lenders used to follow before deregulation of lending rates for NBFC-MFIs which came into effect from April 2022.

Srei Equipment Finance Ltd and Srei Infrastructure Finance Ltd are currently undergoing insolvency proceedings in NCLT. The RBI has already superseded the respective boards earlier.

The Reserve Bank of India on Monday said it has cancelled registration of Pune-based Kudos Finance and Investments and Mumbai-based Credit Gate for regulatory lapses in lending practices.

TVS Capital Funds co-led the equity and debt financing, the largest-ever Series A round for an Indian insurance technology company, the startup said in a statement. Investcorp, Avataar Ventures and LeapFrog Investments participated.

Late evening on Tuesday, its administrator informed lenders that 89.2% of verified creditors voted in favour of NARCL’s resolution plan, while 83.3% voted for Authum Investment and Infrastructure,

The invested corpus will go to a CRISIL rated, RBI-registered, financial institution, which is engaged in disbursing loan against property to retail investors in semi-urban and rural geographies in South India. The entire corpus will be secured by collateral cover maintained above 1.5x of receivables.