Latest news with #NBFCs
NDTV
3 hours ago
- Business
- NDTV
Delhi Residents Can Now Resolve Gas, Loan, Banking Disputes Without Court
New Delhi: Delhi residents facing issues loan defaults, gas supply disruptions or service lapses by banks and NBFCs may no longer need to take the long road to court. Delhi Lieutenant Governor V.K. Saxena has approved a proposal designating banking, non-banking financial companies (NBFCs), and gas supply as Public Utility Services, enabling their disputes to be resolved through Permanent Lok Adalats (PLAs). This decision allows complaints about banking, NBFCs, or gas services—such as billing errors or service delays—to be settled out of court via Lok Adalats. The Law Department of the Delhi government had sent the proposal, flagging a rising number of consumer disputes tied to banks, NBFCs and gas providers. "Most of these cases involve everyday issues like EMI defaults, faulty billing, or service delays," a senior official from the department said, adding that "a lot of complainants don't have the time or means to fight prolonged legal battles." Permanent Lok Adalats are quasi-judicial forums that offer a quicker and low-cost alternative to courts for resolving service-related disputes. Unlike regular courts, they can settle cases even if one party doesn't agree to a compromise, provided the matter falls under public utility services and doesn't involve criminal allegations. This inclusion is expected to ease the load on civil courts while offering consumers a more accessible legal remedy. "People shouldn't have to wait years to resolve simple issues like incorrect bank deductions or faulty gas billing,"an official associated with the Delhi State Legal Services Authority (DSLSA) said. At present, Delhi has three PLAs, mainly handling electricity-related disputes with private discoms. A fourth Lok Adalat is being planned to deal with other notified services like transport, telecom, water, health, sanitation and insurance. The move is seen as particularly helpful for consumers who are typically at a disadvantage when facing off against large financial or utility companies. "This could be a game-changer, especially for senior citizens, daily wage workers, or those with limited legal access," a legal aid volunteer told NDTV. For now, the DSLSA will be responsible for implementing the change and facilitating the hearing of cases under the newly included services. Residents can approach the nearest Permanent Lok Adalat for any non-criminal disputes involving these three sectors.
News18
10 hours ago
- Business
- News18
Banking, NBFCs, gas supply declared public utility services in Delhi
Agency: Last Updated: New Delhi, Jul 29 (PTI) Delhi Lieutenant Governor V K Saxena has approved the inclusion of banking, non-banking financial companies (NBFCs), and gas supply under public utility services, Raj Niwas officials said on Tuesday. The move will facilitate the swift resolution of disputes in these sectors through permanent Lok Adalats, they said. A proposal of the Delhi government's Law Department to include these services under the category of public utility services was sent to the Lt Governor, citing an increasing volume of disputes. It was pointed out by the proposal that a large number of disputes related to loans, financial recovery, savings and investments, service deficiencies, and billing issues in banking and non-banking financial sectors could be effectively and expeditiously resolved outside conventional courts, if these were notified as public utility services. 'Such inclusion would empower permanent Lok Adalats to take up these matters, reduce the burden on regular courts and provide accessible, low-cost, and time-bound legal remedies to the public," said an official. The three services were closely aligned with the characteristics of public utility services, and given the increasing volume of cases related to them, there was a pressing need to ensure expeditious, cost-effective and amicable resolution of such matters, the proposal said. Further, disputes related to these services often involved individuals who could not afford prolonged litigation and, therefore, the permanent Lok Adalats could provide a simplified and affordable alternative for resolving such disputes. In Delhi, three permanent Lok Adalats are currently functional for the resolution of electricity-related disputes involving the power discoms. The Delhi State Legal Services Authority (DSLSA) is also in the process of setting up another permanent Lok Adalat to cater to other public utility services that include transport, postal, telecom, water supply, public sanitation, health and insurance services, among others, the official added. PTI VIT RHL view comments First Published: July 29, 2025, 18:15 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
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Business Standard
15 hours ago
- Automotive
- Business Standard
India Inc to offer avg salary hike of 6.2-11.3% across industries: Report
Corporate India is expected to dole out average salary hike in the range of 6.2 per cent to 11.3 per cent this fiscal, as employers are reshaping their workforce strategies by focusing more on skill certification and incentive-led engagement, a report said on Tuesday. According to the TeamLease Services - Jobs and Salaries Primer 2025-?26 report, the average salary hikes is projected to be in the range between 6.2 per cent and 11.3 per cent across industries, while some role-level salary increments are expected to reach up to 13.8 per cent. "The projected salary growth, ranging from 6.2 per cent to 11.3 per cent, signals a broader realignment in India's job and wage landscape. As new-age industries scale rapidly, demand is shifting toward roles that combine technical capability with immediate business impact," TeamLease Services CEO - Staffing, Kartik Narayan said. The report, based on inputs from 1,308 businesses across 23 industries and 20 cities, noted that the highest salary increments are expected in sectors such as EV and EV infrastructure (11.3 per cent), consumer durables (10.7 per cent), retail (10.7 per cent), and NBFCs (10.4 per cent). Top roles within industries with the highest salary increment are Electrical Design Engineer (12.4 per cent) in EV & EV Infrastructure, In-Store Demonstrator (12.2 per cent) in Consumer Durables, Relationship Executive (11.6 per cent) in NBFC, and Fashion Assistant (11.2 per cent) in Retail, it added. The report also found a strong blue-collar rebound as this segment is now experiencing healthy increments, driven by rising infrastructure investments, the expanding EV ecosystem, and the ongoing revival in real estate and manufacturing. The fastest-growing blue-collar roles are mechanic (10.4 per cent), material handler (10 per cent), machine operator (9.9 per cent), and electrician (9.3 per cent), it stated. "In the upward momentum in blue-collar wages even the traditionally stable roles like mechanic and material handler are seeing double-digit hikes. We see this shift as a critical signal for employers to align hiring with new growth engines, and for job seekers to upskill toward relevance and resilience," Narayan said. Amid increasing competition among skilled operational workers, employers are reshaping their workforce strategies by focusing more on skill certification, retention, and incentive-led engagement, the report said. A few of the roles within cities are expected to show exceptional salary increments -- Quality Control Inspector (13.8 per cent) in Pune, MIS Executive (13.4 per cent) in Hyderabad, Data Engineer (12.9 per cent) in Bengaluru, Electrical Design Engineer (12.6 per cent) in Mumbai and Sales Executive (12.4 per cent) in Gurgaon among others, it added. The report further noted that across functional areas, sales and marketing roles are projected to see the highest average salary increment at 9.9 per cent, followed closely by engineering (9.5 per cent). Other core functions, such as finance, customer service and back office, blue collar, and HR and admin, are expected to receive moderate hikes of between 8.2 per cent and 8.6 per cent, indicating a balanced growth trend across business-critical areas. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Mint
2 days ago
- Business
- Mint
Personal loan volume spikes, year-on-year growth drops in FY 2025: Report
Resorting to borrowing when the credit need arises is a typical behaviour of consumers. Be it for car, home, consumer durables or for personal needs, borrowing is the part and parcel of life of consumers everywhere. CRIF High Mark released its annual report listing out latest trends relating to borrowing trends of Indian consumers. The report highlights that personal loan POS grew from ₹ 10.7 lakh crore to ₹ 14.6 lakh crore over two years but year-on-year growth fell sharply from 25.2 percent in FY2024 to 9.1 percent in FY2025. The report titled How India Lends Credit Landscape in India FY 2025 provides in depth insights into originations, portfolio and delinquency trends across major product categories. When it comes to the lender type, the share of NBFCs has increased from 27.6 percent to 36.4 percent in the past two years from 2023 to 2025. During this time, the share of private banks fell from 32.5 percent to 29.2 percent. The share of PSU banks declined from 35.3 percent to 30.5 percent. The share of origination value for personal loans over ₹ 10 lakh has risen steadily from 28.2 percent in FY24 to 30.9 percent in FY25, indicating a growing preference for higher-value loans. Meanwhile, the share for loans between ₹ 1 lakh and ₹ 10 lakh has declined, suggesting a shift away from mid-sized lending. Interestingly, loans under ₹ 1 lakh are also gaining market share in origination value, driven by the increasing adoption of digital and small-ticket lending solutions, especially by NBFCs. Loans below ₹ 1L also continue to dominate in volume, increasing from 87.1% in FY24 to 89.3% in FY25. The origination value of two-wheeler loans jumped from ₹ 99,543 crore in FY24 to ₹ 110,056 crore in FY25, though the growth rate moderated from 25.1 percent to 10.6 percent over the same period. The report suggests that tighter credit policies aimed at managing default risks, along with increasing stress among sub-prime borrowers, may have influenced this slowdown. Two-wheeler loan delinquencies increased across all lender types from Mar '24 to Mar 2025, with PAR 31-90 percent for PSU Banks climbing from 1.27 percent to 1.61 percent and private banks rising from 3.27 percent to 3.62 percent. In terms of credit cards, the share of private banks fell from 70.8 percent to 69.6 percent (active loans) and from 69.9 percent to 68.9 percent (portfolio outstanding). New card originations fell to 216.4 lakh in FY25, down 26.4 percent YoY, reversing the strong growth seen in FY22 and FY23. This follows a peak of 294.1 lakh cards that were issued in fiscal 2024, indicating a clear slowdown in momentum and tightening credit criteria. For all personal finance updates, visit here Disclaimer: Mint has a tie-up with fintechs for providing credit, you will need to share your information if you apply. These tie-ups do not influence our editorial content. This article only intends to educate and spread awareness about credit needs like loans, credit cards and credit score. Mint does not promote or encourage taking credit as it comes with a set of risks such as high interest rates, hidden charges, etc. We advise investors to discuss with certified experts before taking any credit.
Mint
2 days ago
- Business
- Mint
Banks, NBFCs continue to battle rising stress in unsecured loans in Q1
Mumbai: Indian banks continued to experience stress in their unsecured loan books in the first quarter of the current financial year, with select lenders and non-banking financial companies (NBFCs) flagging higher bad debt in new segments such as credit for small businesses and retail commercial vehicles. Notably, the pockets of unsecured stress were seen in various segments such as microfinance, retail commercial vehicle, MSME (micro, small, and medium enterprises) and personal loans and credit cards, according to bankers' post-earnings analyst calls in recent days. Add to that the cyclical impact of higher farm loan slippages, and most lenders saw elevated provisions for potential loan losses and credit cost weighing on their balance sheet during the three months through June. 'Lenders are still cautious amid the asset quality stress in unsecured segment, which is reflected in slow loan growth in this segment. This continues to tighten liquidity for the borrowers and their ability to refinance the existing loans, which in turn is leading to asset quality stress for lenders. The big challenge for the lenders is assessment of income," said Anil Gupta, senior vice president, Icra. The country's largest private sector lenders such as HDFC Bank, ICICI Bank and Axis Bank highlighted a seasonal jump in agriculture slippages. Axis Bank was also an outlier in terms of bad-loan provisions, which surged due to a shift in its classification methodology for certain loan segments such as retail cash credit and one-time settlement of stressed loans. While Axis Bank said that the shift in methodology was to align the bank's stress recognition as per industry best practices, the country's largest consumer finance lender Bajaj Finance reported a substantial rise in delinquencies in MSME and business banking loans for the first time, besides the auto finance portfolio. 'MSME business has shown some strain since February so it's coming a little too suddenly. We've taken a whole host of actions to prune business. It's likely that both these businesses will grow a lot more slowly in the current year," Rajeev Jain, vice-chairman, Bajaj Finance, said in a post-earnings call on Friday. 'Credit costs were principally elevated in two-wheeler and three-wheeler business, which is a winding down business. That's a good news. The captive book has given us a lot of trouble, or continues to give us trouble," Jain added. However Shriram Finance was an outlier, seeing a sequential drop in credit cost to 1.9% in the first quarter from 2.4% in the preceding three months. 'The questions from investors have been that their numbers always come with a lag and hence we are not confident," said Suresh Ganapathy, managing director of Macquarie Research. "Plus, the guidance on margins and consequent delivery of the same has been a disappointment, as per investors." Loan jolt Banks such as IDFC First Bank, Kotak Mahindra Bank and Bandhan Bank reported weaker profitability on the back of a rise in microfinance slippages. The management of these banks said that while stress in the sector is expected to remain elevated in the current quarter, it seems to have peaked. As such, lenders highlighted early signs of easing and said that they expect the asset quality of the portfolio to start improving Q3 (October-December) onwards. 'The MFI book is a typically 24-30-month kind of book and therefore, it obviously runs off pretty fast. Currently, the new disbursements we are doing is in about the same level of run-offs. So the book will kind of stabilise and start climbing again once disbursements pick up," Kotak Bank's managing director and chief executive officer Ashok Vaswani said on 26 July. Kotak Bank and HDB Financial, the NBFC arm of HDFC Bank, also flagged a rise in commercial vehicle slippages, which the bank attributed to overall macro-economic slowdown, especially in the logistics and infrastructure sectors, and delayed payments from central and state governments. Some large banks such as HDFC Bank and Bank of Baroda also made additional prudent provisions in order to beef up their buffers. HDFC Bank and ICICI Bank said that, outside of the agriculture loan book, they are bracing for the possibility of asset quality worsening through the rest of the year. 'The credit cost continues to be benign, and some point in time, it will revert to the mean. What that means is a moot point, and how long it takes is also a moot point, but as of now, it continues to be benign and healthy," HDFC Bank's chief financial officer Srinivasan Vaidyanathan said in a post-Q1 analyst call. ICICI Bank's finance chief Anindya Banerjee said while the current sort of credit behaviour and asset quality is extremely benign, the bank will 'probably see some increase going forward". 'Credit costs today are negligible. So, they may go up slightly," he said in the analyst call.
