Latest news with #Non-BankingFinancialCompanies
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Business Standard
15-05-2025
- Business
- Business Standard
Samsung announces offers on Galaxy S25: Upgrade bonus, bank cashback, more
Offers on Samsung Galaxy S25 are now live on the company's official website. Deals will also be available on select e-commerce platforms and retail outlets New Delhi Samsung has announced limited-period deals on the Galaxy S25 smartphone. The deals include cashback, exchange bonus and no-interest equated monthly instalment (EMI) plans. The highlight of the sale is the upgrade bonus of Rs 11,000 on the smartphone which brings down the price to Rs 63,999. The sale is now live on Samsung's official website. The company also said that the deals will be available on select e-commerce platforms and retail outlets. Samsung Galaxy S25: Offers Launched at Rs 74,999, the Galaxy S25 smartphone will be available at Rs 63,999 with an upgrade bonus of Rs 11,000 on trade-in deals. Alternatively, consumers can get a bank cashback of Rs 10,000 on select bank cards. No-interest equated monthly instalment (EMI) plans of up to nine months are also available, along with Rs 8,000 cashback. For NBFC (Non-Banking Financial Companies) customers, the Galaxy S25 can be purchased with a no-interest EMI plan of up to 24 months. Samsung Galaxy S25 is available in 128GB, 256GB, and 512GB storage variants. Colour options include Icyblue, Navy, Mint, and Silver Shadow. There are also several exclusive colourways available only on the company's official website, including Pinkgold, Coralred, and Blueblack. Samsung Galaxy S25 : Details Samsung launched its Galaxy S25 series smartphones during the first Galaxy Unpacked event of 2025 in January. The Samsung Galaxy S25 smartphone sports a 6.2-inch FHD+ AMOLED display with up to 120Hz refresh rate. It is powered by the Qualcomm Snapdragon 8 Elite for Galaxy combined with 12GB of RAM and up to 512 GB of internal storage. Regarding optics, the Samsung Galaxy S25 features a 50MP primary camera with optical image stabilisation (OIS) coupled with a 12MP ultra-wide sensor and a 10MP telephoto lens. At the front, there is a 12MP camera for video calls, selfies and more. It has a 4,000 mAh battery with 25W wired charging support. The smartphone runs on Android 15-based One UI 7. The smartphone also features several upgraded Galaxy AI features such as Google's Circle to Search, Call Transcript, Writing Assist, and Drawing Assist, designed to improve communication, productivity, and creativity. Samsung Galaxy S25: Specifications
Mint
15-05-2025
- Business
- Mint
Personal loan process: Is submitting a blank cheque mandatory? Find out
As personal loans become increasingly accessible in the country, many borrowers are often found questioning the importance and necessity of providing a blank cheque during the submission of loan applications. Now some lenders still request for a crossed blank cheque as a security measure, still it is crucial to understand its implications, whether it is a mandatory requirement and available alternatives. To put it simply, providing a blank cheque is not a mandatory requirement for applying for and obtaining a personal loan. The required documentation and its necessity largely depends on the respective lender and their policies. Depending on individual policies and rules, traditional banks and certain Non-Banking Financial Companies (NBFC's) might request for a blank cheque as a precautionary measure to secure loan repayment, especially in cases where digital repayment methods have failed or are not prudently available. Handing over a clean signed blank cheque carries several inherent risks. If misused, it can lead to unauthorised withdrawals or legal complications under the Negotiable Instruments Act. That is why to combat the same challenges borrowers are advised to: Mention 'Account Payee Only' to strictly prevent misuse. Key a record of the cheque number, a digital copy of the cheque and obtain a written acknowledgement from the lender explaining the objective and conditions for its use. Keep a tab and ensure that the cheque is utilised solely for its intended purpose and is returned upon the closure of loan. Set a validity date or clearly mention 'not valid after' a particular date on the cheque. This limits the timeframe within which the cheque can be presented for clearance. Avoid signing multiple cheques, even if requested to don't agree to such proposals. As when multiple cheques are signed this increases the chances of financial crimes and frauds immensely. With consistent advancements in digital banking, many lenders now prefer electronic methods for loan repayments, such as: Electronic Clearing Service (ECS): Through ECS the borrower's account is automatically deducted for the loan repayment amount on a monthly basis. Through ECS the borrower's account is automatically deducted for the loan repayment amount on a monthly basis. National Automated Clearing House (NACH): Through this centralised system interbank transactions are facilitated and streamlined and help in the repayment of loans. Through this centralised system interbank transactions are facilitated and streamlined and help in the repayment of loans. Standing Instructions: This particular system allows for pre-authorised directives for periodic payments of the loan thus ensuring no EMI is missed. These methods help in enhancing security and reducing the need for physical cheques. That is why while repayment of loans these methods can be considered post proper consultation with your respective financial institution's customer support team. The Supreme Court has held that even a cheque that is issued as security can attract action under Section 138 of the negotiable instrument act. This will be applicable if the cheque was given against a legally enforceable debt. In Triumph International Finance Ltd v. State of Maharashtra (2007), the court clearly established that such cheques are not beyond the scope of dishonour proceedings. Hence, some lenders may still request a blank cheque, it is not mandatory. Safer, digital repayment options are available, offering greater clarity and transparency, along with reduced risk for borrowers. 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 scores. 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.
Hindustan Times
08-05-2025
- Business
- Hindustan Times
Give ‘credit' where credit is due
India's financial landscape is not defined by banks alone. In countless towns and villages, Non-Banking Financial Companies (NBFCs) offer crucial credit to people and businesses often overlooked by traditional lenders. They handle everything from small gold backed loans to large infrastructure financing, forging a path to Viksit Bharat 2047 by expanding access to capital where it is needed most. NBFCs provide credit, lease financing, and investment options but lack a full banking license. They cannot accept demand deposits or issue checks, and their liabilities are not protected by deposit insurance. Instead, NBFCs rely on market borrowings, bank loans, and institutional funds, frequently issued at higher costs. NBFCs operate under stringent rules imposed by the Reserve Bank of India (RBI). Yet, NBFCs shine where banks hesitate. In rural areas, microfinance NBFCs have extended millions of small-scale loans, often to women with little or no collateral. These funds support activities like small scale dairy or tailoring, cultivating self-employment and economic resilience. NBFCs also help micro, small, and medium enterprises (MSMEs) that lack formal balance sheets or credit histories. They employ innovative underwriting methods such as cash flow analysis to disburse loans quickly. This flexibility is a lifeline for small businesses, which drives local economies and create jobs. Likewise, specialised NBFCs finance projects where banks may fear longer profit gestation periods such as infrastructure sector. Over time, NBFCs have proven pivotal in housing finance, consumer credit, vehicle loans, and most importantly in sectors traditionally underserved by banks. But, as NBFCs grow, so does RBI scrutiny. They must register, meet minimum net owned fund requirements (currently at ₹10 crore), and maintain capital adequacy ratios. Setting a limit of ₹10 crore as minimum required funds to become a NBFC effectively hampers the progress of rural lending entities which do not command such funds, and yet are making a difference in their local economics by financing even small-scale self-employment projects (as discussed earlier) while also restricting financial inclusion in distant corners of the economy. Larger NBFCs, or those determined to be systemically important, must adhere to robust risk management, governance, and auditing standards. They also face the Prompt Corrective Action (PCA) framework by the RBI if their financial health weakens, mirroring the regime banks face. Notwithstanding, these NBFCs lack low-cost public deposits, relying heavily on more expensive sources. To discourage over reliance on bank credit, RBI assigns higher risk weights when banks fund NBFCs heavily. While this guards against excessive leverage, it can limit credit flow to smaller NBFCs lacking strong ratings in debt markets. Coupled with the introduction of liquidity coverage ratios for large NBFCs, these measures raise costs, prompting lending to consolidate. Another restrictive regulation appears in the form of a ceiling for IPO funding. As the RBI assigns higher risk weights and banks consolidate their lending, IPOs are the only viable options for NBFCs to raise funds. Here too, they face a ceiling of ₹1 crore per borrower. IPOs are at times the only source of earnings for the majority of NBFCs which are non-deposit. Compliance burdens also weigh on NBFCs. Implementing Indian Accounting Standards under the Accounting Standards Board which align with global standards of book keeping, forming multiple oversight committees, and meeting detailed reporting requirements demand significant resources. For smaller or rural focused NBFCs, these overheads can be prohibitive. If regulatory framework continues to prefer scale over agility, the rich tapestry of localized financial services may soon lose the very diversity that has fueled inclusivity. Regulators need to carve out space where these smaller NBFCs can thrive, innovate, and continue to bridge the gap between traditional banking and the vast, untapped segments of the economy. If allowed less restrictive norms, NBFCs hold immense potential to drive India's growth towards Viksit Bharat. The democratisation of credit will underpin growth across sectors, ensuring that the fruits of development are widely shared. It aligns perfectly with the inclusive ethos of Viksit Bharat. The story of NBFCs is of an entrepreneurial spirit in finance, of taking calculated risks on the underdog borrower and often winning. A thriving NBFC sector alongside a strong banking sector will give India a twin-engine credit infrastructure, capable of powering an economy that is not only growing, but growing inclusively. This article is authored by Shishir Priyadarshi, president, Chintan Research Foundation, New Delhi.
Time of India
05-05-2025
- Business
- Time of India
NBFCs will continue to grow at a faster pace, have grown above India's GDP historically: Report
Non-Banking Financial Companies (NBFCs) are growing at a higher rate than India's overall economic growth and it is expected to continue its growth at a faster pace, according to a new report released by Mavenark Advisors. #Pahalgam Terrorist Attack Inside Operation Tupac: Pakistan's secret project to burn Kashmir Who is Asim Munir, the Zia-style general shaping Pakistan's faith-driven military revival 'Looking for partners, not preachers': India's strong message for EU amid LoC tensions The report highlighted how NBFCs have played an increasingly important role in India's financial system over the past two decades and are now well-positioned to continue expanding, especially in the retail and rural segments. It says "credit growth of NBFCs which has trended above India's GDP growth historically, is expected to continue to rise at a faster pace". Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Complete protection with iPru All-in-one Term Plan ICICI Pru Life Insurance Plan Get Quote Undo The report noted that NBFCs have shown strong resilience over the years. Their assets under management (AUM) have grown significantly--from less than Rs 2 trillion around the year 2000 to Rs 43 trillion by the end of FY24. From FY19 to FY24, credit growth by NBFCs is estimated to have grown by a compounded annual growth rate (CAGR) of 12 per cent. Live Events The report expects this trend to continue in FY25, supported by a rapid revival in the Indian economy and rising consumer demand. In India's banking system, banks primary focus has largely remained on wholesale lending to large corporates, services, and agriculture sectors. As of FY24, only 34 per cent of the total bank credit went to retail borrowers. This has left a significant gap in the retail lending space, which NBFCs have stepped in to fill. According to the report, 48 per cent of the total credit given by NBFCs is to the retail segment--much higher than the share held by banks. This indicates a clear focus by NBFCs on serving individual borrowers, especially those from low-income or riskier profiles. NBFCs have also been key in driving financial inclusion in India. With strong grassroots connections, these institutions cater to people in rural and semi-urban areas who are either unbanked or underbanked. They also lend to those without formal credit histories, such as workers in the informal sector. This role makes them an important part of the country's financial ecosystem and supports the government's broader goals of financial inclusion. Overall, the report suggested that NBFCs will continue to grow rapidly, playing a critical role in bridging financial access gaps across the country.
Zawya
02-04-2025
- Business
- Zawya
Indian Mining and Construction Equipment industry faces modest growth amidst financial constraints and price pressures
New Delhi: Indian mining and Construction Equipment (MCE) industry experience muted volume growth of about 3 per cent in first 11 months of FY2025, a notable decline compared to 26 per cent growth in both FY2024 and FY2023. According to a report by ICRA, the slowdown is because of the reduced domestic project awards and execution momentum in the first half of the fiscal year due to the general elections code of conduct, followed by extended monsoon-related impediments. The export momentum also witnessed a tapering during the same period. While a recovery began in Q3 FY2025, overall industry volumes are expected to remain largely flat, with a modest 2-3 per cent growth in FY2025. Within the domestic market, earthmoving equipment, the dominant sub-segment, saw a 5 per cent (YoY) growth, contrasting with declines in most other sub-segments in the 11 months of FY2025. In exports, concrete and road equipment showed remarkable growth, with increases of 133 per cent and 122 per cent (YoY) respectively. However, overall export volume growth moderated to 7 per cent (YoY), following a 49 per cent jump in FY2024. ICRA anticipates modest growth of 2-5 per cent for MCE industry volumes in FY2026 as well. This projection is set against a high base, with sales exceeding 1 lakh units for three consecutive years. The report also highlights the impact of tight liquidity with Non-Banking Financial Companies (NBFCs). The MCE sector is heavily dependent on financing, with 85-90 per cent of MCEs sold in India being financed. The industry will also pose a challenge as tight liquidity may affect disbursement and lower loan-to-value ratios particularly for the first-time buyers. Price escalations from stricter emission norms and the incorporation of new safety features, which will be fully implemented starting July 2025 are other challenges before the industry. ICRA says that despite potential dampening effects on demand due to price hikes and a constrained financing environment, the industry's stable outlook is supported by expectations of continued government emphasis on infrastructure development and favourable commodity prices. The report forecasts that the credit metrics of the domestic MCE industry will remain stable in FY2026, with revenue growth of 8-10% YoY. However, profitability margins are expected to contract by 50-100 bps, driven by higher costs, estimated to increase by 12-15 per cent due to regulatory changes and the staggered passing of these costs to customers. © Muscat Media Group Provided by SyndiGate Media Inc. (
