Tamil Nadu Industries Minister T R B Rajaa has said that the Fintech City being established in Chennai is expected to bring in an investment of Rs 1,000 crore in its first phase. The state's Chief Minister MK Stalin on Saturday laid the foundation stone of the Fintech City and a Fintech Tower, which is expected to create 90,000 jobs in the state.
Eqaro’s financial guarantees provide MSMEs with access to working capital, assets & inventory without having to put up collaterals and margin money and, Eqaro’s Rental Bond provides Zero deposit homes to the tenants and takes the uncertainty out of tenancy by covering all the financial risks in the tenancy for the landlords.
In FY 23, Ruloans facilitated the disbursement of Rs 26,000 crores of retail loans. With a vision to achieve a turnover of 2,500 crores by 2026 and disbursements of over 1,00,000 crores Ruloans is poised to expand their partner network to encompass more than 75,000 partners by 2026.
Companies in India are turning to high-yield bonds and other alternative sources of finance after the removal of taxation benefits on market-linked debentures and debt mutual funds. The move has triggered a demand for private credit funds, alternative investment funds (AIFs), family offices, and high-net-worth individuals (HNIs). Private firms with ratings between BBB and A+ have seen limited appetite among qualified institutional buyers, and that has prompted them to seek funding elsewhere.
The ports-to-power conglomerate owned by Indian tycoon Gautam Adani is mulling whether to convert the original loan into debt with a longer maturity period and has started talking to banks individually about that plan, said the people, who asked not to be identified as the discussions are private.
The RBI, in the exercise of powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934, has therefore cancelled its CoR (certificate of registration), the central bank said in a statement.
The focus area for the company would be a new business, renewal revenue and bringing down fixed cost, he said, adding new business gives scale not profitability.
Non-banking finance company L&T Finance Holdings plans to expand its rural business by offering personal loans and loan against property (LAP) to customers in the country's hinterland in a bid to step up margins by enhancing its retail portfolio of assets.
Rating agencies either rely on publicly available data or withdraw the rating of such borrowers who refuse to disclose financials and other information.