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IndoStar Capital to Exit Corporate Lending Activities by March 2022, to Focus on Retail Segment
MUMBAI : Alternative asset manager Brookfield and private equity player Everstone have promoted non-bank finance firm IndoStar Capital Finance plans to exit corporate lending altogether by March 2022, its vice-president said. executive chairman and chief executive officer R. Sridhar. The company has reduced its portfolio of securities over the past two years and has reduced …
Northern Arc Prepares to Strengthen Direct Lending Business
Northern Arc Capital, a non-bank finance company (NBFC) that provides access to debt to underbanked individuals and businesses in India, plans to step up its direct lending business to focus on small business lending (SBL) , consumer loans, microfinance and middle market loans to emerging companies. “In the last six months, we’ve had a large …
New Zealand-based consumer credit firm Harmoney made lackluster stock market debut
Consumer credit firm Harmoney had a lackluster start on the Australian and New Zealand stock exchanges. Harmoney, based in New Zealand and specializing in personal loans, has made the Australian stock exchange its main trading center with the NZX as a secondary market. Photo: RNZ The company’s shares were trading at AU $ 3.26, 7% …
Air India to raise short-term loans of Rs 6,150 crore by end of month
The financially troubled carrier Air India has applied for government guaranteed loans of Rs 6,150 crore via a short-term loan (STL) from domestic lenders by the end of this month. The money will be used to refinance the loans taken out for the purchase of seven Boeing 787. According to the tender document, the company …
Chola launches co-loan business with technology from Nucleus Software
Nucleus Software, the leading provider of lending and transaction banking solutions, announced that Cholamandalam Investment and Finance Company Limited (Chola), the financial services arm of the Murugappa Group, has successfully launched Nucleus’ advanced co-lending solution Software. The co-lending model is a great opportunity for banks and NBFCs to build on each other’s strengths. The co-loan …
On the money: Upstart lending platform files $ 100 million IPO application
Upstart Holdings, one of the leading cloud-based consumer lending platforms, on Thursday filed with the SEC to raise $ 100 million in an initial public offering. Upstart provides a cloud-based lending platform that harnesses artificial intelligence, and the company believes this enables consumers to benefit from higher approval rates, lower interest rates, and an experience. …
China publishes draft rules to regulate online microcredit activities
Writes with details, backgrounds BEIJING, November 3 (Reuters) – The Chinese central bank and regulators on Monday released draft rules to tighten oversight of online microcredit as it tries to curb rising debt levels in the coronavirus-hit economy. The People’s Bank of China (PBOC) and China Banking and Insurance Regulatory Commission (CBIRC) draft rules aim …
UPDATE 1-China publishes draft rules to regulate online microcredit activities
(Written with details, backgrounds) BEIJING, Nov. 3 (Reuters) – The Chinese central bank and regulators on Monday released draft rules to tighten oversight of online microcredit as they try to curb rising debt levels in the affected economy by the coronavirus. The People’s Bank of China (PBOC) and China Banking and Insurance Regulatory Commission (CBIRC) …