Latest news with #FinancialCompanies
Business Standard
10-07-2025
- Business
- Business Standard
Gross loan advances by Non-Banking Financial Companies have doubled over last four years says FM
Union Finance Minister Nirmala Sitharaman has highlighted that the loan recovery practices of Non-Banking Financial Companies (NBFCs) must be conducted in a fair, empathetic and respectful manner, as well as strictly aligning with the RBIs Fair Practices Code. FM stated this while addressing the NBFC Symposium 2025 in New Delhi. The Minister said that financial inclusion cannot be used as a pretext for financial exploitation. She added that lending should be based on the genuine needs and repayment capacity of customers. The Minister also underscored the need for NBFCs to integrate governance, risk management, and customer protection as part of their core beliefs and ethics. Finance Minister Nirmala Sitharaman revealed that gross loan advances by Non-Banking Financial Companies (NBFCs) have doubled over the last four years, surging from Rs 24 lakh crore in March 2021 to Rs 48 lakh crore as of March 2025. The finance minister emphasized the growing significance of NBFCs in Indias financial landscape, particularly in serving segments historically excluded from formal credit systems.
India.com
21-05-2025
- Business
- India.com
Stock market update: Sarveshwar Foods Approves Increase in Authorised Capital
Home Business Stock market update: Sarveshwar Foods Approves Increase in Authorised Capital – Full Details Inside Stock market update: Sarveshwar Foods Approves Increase in Authorised Capital – Full Details Inside Sarveshwar Foods entered into collaborations with select Non-Banking Financial Companies (NBFCs) to improve access to finance for farmers. Stock market- File image- For Representational purpose Stock market update: Jammu-based FMCG and food processing company Sarveshwar Foods Limited has informed the stock exchanges that its Board of Directors has approved a proposal to increase the company's authorised share capital. As per the regulatory filing, the board has cleared a resolution to raise the authorised capital from ₹120 crore to ₹160 crore, marking a significant step towards enhancing the company's financial flexibility. The proposed change will also involve an amendment to the company's Memorandum of Association (MoA) to replace the existing Clause V with the updated clause, subject to shareholder approval. 'Approved increase in authorised capital of the Company from ₹120,00,00,000 (Rupees One Hundred and Twenty Crores only), consisting of 120,00,00,000 equity shares of Re.1/- each, to ₹160,00,00,000 (Rupees One Hundred and Sixty Crores only), consisting of 160,00,00,000 equity shares of Re.1/- each, subject to members' approval,' the filing stated. Strategic Partnerships with NBFCs In a strategic move announced last year, Sarveshwar Foods entered into collaborations with select Non-Banking Financial Companies (NBFCs) to improve access to finance for farmers. The company is acting as a facilitator, linking farmers with NBFCs to support agricultural productivity and financial inclusion. Importantly, the financing arrangements are entirely between the NBFCs and the farmers, with no financial obligation or recourse to Sarveshwar Foods. Stock Market Update On the broader market front, Indian benchmark indices rebounded sharply on Wednesday following a heavy sell-off in the previous session. Investor sentiment was buoyed by strong buying in banking and blue-chip stocks, alongside positive cues from Asian markets. While BSE Sensex surged 835.2 points (1.02%) to 82,021.64, the NSE Nifty gained 262.3 points (1.06%) to reach 24,946.20. Top gainers from the Sensex pack included Sun Pharma, Bajaj Finance, UltraTech Cement, Mahindra & Mahindra, Bajaj Finserv, Tech Mahindra, HDFC Bank, and Tata Motors. For breaking news and live news updates, like us on Facebook or follow us on Twitter and Instagram. Read more on Latest Business News on More Stories
