Latest news with #MuthootFinance
Hindustan Times
4 days ago
- Hindustan Times
Panchkula constable held in cybercrime bribe case, second arrest in four days
Just four days after an assistant sub-inspector (ASI) from the Cybercrime police station, Mansa Devi Complex, was arrested in a ₹1.15 lakh bribe case, the state vigilance and anti-corruption bureau (ACB), Panchkula, has apprehended a constable from the same police station for his involvement in the crime. The arrested individual has been identified as Pradeep Kumar. The arrested individual has been identified as Pradeep Kumar. (HT File) The ACB stated that constable Pradeep Kumar's arrest was made after sufficient evidence implicating him was uncovered during the ongoing investigation. Authorities revealed that their probe indicated Pradeep Kumar conspired with ASI Jasbir Singh, actively demanding and pressuring the complainant for the bribe. Previously, on Tuesday, the ACB had arrested ASI Jasbir Singh red-handed while he was allegedly accepting a bribe of ₹1.15 lakh. He was subsequently booked under Section 7 of the Prevention of Corruption Act. The case began when a private sanitary trading businessman approached the ACB, alleging that ASI Jasbir Singh was demanding a bribe to close a complaint against him. The complainant had initially taken a gold loan from Muthoot Finance in February 2024. To repay this loan, he contacted Cash Your Gold Company in Sector 20, Panchkula, which transferred ₹5.65 lakh to his account via RTGS. The understanding was that the complainant would retrieve the gold from Muthoot Finance and deliver it to Cash Your Gold Company. However, the firm later filed a complaint with the cybercrime police station in Gurugram, accusing the businessman of failing to return either the gold or the money. This led to the Gurugram police freezing his bank account, along with those of his creditors. The complaint was then transferred to Panchkula, where ASI Jasbir Singh allegedly demanded a bribe to unfreeze the complainant's bank account. While the initial demand was reportedly ₹2.5 lakh, the ASI later settled for ₹1.15 lakh after negotiations, prompting the complainant to approach the ACB.
Hindustan Times
09-07-2025
- Hindustan Times
Panchkula cybercrime ASI caught accepting ₹1.15 lakh bribe
The state vigilance and anti-corruption bureau (ACB) on Tuesday arrested an assistant sub-inspector (ASI) posted at the cybercrime police station in Mansa Devi Complex, Panchkula, for allegedly accepting a bribe of ₹1.15 lakh. ASI Jasbir Singh was caught red-handed and booked under Section 7 of the Prevention of Corruption Act. (HT File) According to officials, ASI Jasbir Singh was caught red-handed and booked under Section 7 of the Prevention of Corruption Act. The complainant, who runs a private sanitary trading business, had approached the ACB alleging that the ASI was demanding a bribe for closing a complaint against him. The complainant had mortgaged his gold with Muthoot Finance in February 2024 to take a loan. Later, to repay the loan, he approached the Cash Your Gold Company in Sector 20, Panchkula, which paid him ₹5.65 lakh via RTGS. The complainant was supposed to retrieve the gold from Muthoot Finance and deliver it to Cash your Gold Company. However, the firm later lodged a complaint with the Cybercrime police station in Gurugram, accusing him of not returning the gold or the money. As a result, the Gurugram police froze his bank account, along with those of his creditors. This complaint was later transferred to Panchkula following which the ASI demanded a bribe for unfreezing his bank account. Initially, the ASI had allegedly demanded ₹2.5 lakh, but later agreed to accept ₹1.15 lakh after negotiations Following this, the complainant approached the ACB, which caught ASI Jasbir Singh red-handed.
Business Standard
24-06-2025
- Business
- Business Standard
Muthoot Finance allots 4,585 equity shares under ESOP
Muthoot Finance has allotted 4,585 equity shares of face value of Rs. 10/- each under Muthoot ESOP 2013. Post allotment, the Company's paid-up capital stands increased from Rs. 401,46,38,910 consisting of 40,14,63,891 equity shares of Rs. 10/- each to Rs. 401,46,84,760 consisting of 40,14,68,476 equity shares of Rs. 10/- each. Powered by Capital Market - Live News
Times of Oman
20-06-2025
- Business
- Times of Oman
India's new gold loan regulations to reshape lending landscape: S&P Global
New Delhi: S&P Global Ratings anticipates that the new regulations in Gold-Backed Loans will necessitate business model adjustments for lenders, with nimble players likely to gain a competitive edge. India's booming gold-backed loan sector is poised for significant changes with the introduction of new regulations, expected to be fully implemented by April 1, 2026. A key change involves the inclusion of interest payments until maturity in the calculation of Loan-to-Value (LTV) ratios, which could reduce the initial loan amount disbursed to borrowers. Additionally, credit appraisals for consumption-focused loans exceeding USD 3,000 and all income-generating loans will now require a cash flow analysis of borrowers, a departure from the traditional reliance on collateral valuation. The new rules also aim to enhance customer protection by standardizing the regulatory framework and addressing prudential and conduct gaps. This includes clearer guidelines on collateral handling and auction processes, mandating the return of pledged collateral and auction surpluses to borrowers within seven working days. Disbursements above INR 20,000 (approximately USD 231) will now be made directly to borrowers' bank accounts. The RBI is also emphasizing greater transparency in interest rate and fee disclosures and scrutinizing the outsourcing of core financial services. This shift will particularly impact nonbank financial companies (NBFCs) with large gold loan portfolios, such as Muthoot Finance Ltd. and Manappuram Finance Ltd., as they will need to invest in developing new risk management policies and training loan officers. Despite these adjustments, operational agility and service excellence, including quick and seamless loan disbursement, will remain crucial differentiators for lenders. NBFCs' strong customer relationships and investments in analytics are expected to help them maintain competitiveness. While these new models offer opportunities, they also introduce risks, particularly the heightened sensitivity to sharp corrections in gold prices if higher LTV norms are adopted for income-producing loans. Gold prices have surged by nearly 80% since late 2023, leading to a significant increase in collateral value and loan books. The RBI's regulatory treatment of NBFC gold loans, which applies a 100% risk weight, helps mitigate price risk, although banks currently benefit from a 0% risk weight on these loans.
Mint
20-06-2025
- Business
- Mint
Muthoot Finance, BEL to MCX: 19 Nifty 500 stocks hit 1-year highs this week amid geopolitical uncertainty
Stock market today: The Indian stock market remained range-bound this week as tensions in West Asia continued to keep investor sentiment fragile toward risky assets. The conflict between Iran and Israel, which showed no signs of de-escalation as it entered its eighth day, has pushed crude oil prices higher and dampened sentiment in India. Crude prices jumped nearly 3% on Thursday after Israel reportedly bombed nuclear targets in Iran, prompting retaliatory missile and drone strikes by Iran, including an attack on an Israeli hospital overnight. With prices staying elevated, crude is set to end the week with healthy gains, marking its third straight weekly advance. Meanwhile, all eyes are on the White House as President Donald Trump weighs launching direct military strikes on Iran, with a decision expected within two weeks. In response, Russia has warned the United States against taking military action, adding to the geopolitical uncertainty. While the heightening geopolitical tensions keep the markets wary, the lack of domestic triggers has also failed to provide fresh momentum for the bulls. Meanwhile, rich valuations in the mid- and small-cap segments have raised caution among investors, resulting in sharp corrections over the past few sessions." Foreign portfolio inflows have also been unsupportive, fluctuating throughout the week. While domestic institutional investors have offered some support, it hasn't been enough to lift the markets decisively higher. Amid ongoing market volatility, 19 stocks from the Nifty 500 index managed to touch fresh 52-week highs this week. Notably, most of these names came from the mid- and small-cap segments, outperforming the broader market. NBFC stocks have led the rally, boosted by the RBI's surprise 50 basis point cut in the repo rate and a 100-basis point reduction in the CRR. This has improved investor sentiment, with expectations that enhanced system liquidity will drive a sharp uptick in vehicle loans. Additionally, the hike in loan-to-value (LTV) ratio for gold loans has fueled a rally in gold-focused NBFCs. Scrip Name 52-week high price Muthoot Finance ₹ 2,669.90 Authum Investment ₹ 2,591.80 Au Small Finance Bank ₹ 808 Aditya Birla Capital ₹ 259.42 Max Financial Services ₹ 1,606.10 Navin Fluorine International ₹ 4,795.50 Multi Commodity Exchange ₹ 8,029.50 Redington ₹ 309.95 Bharat Electronics ₹ 407.50 Solar Industries ₹ 17,300 Lloyds Metals & Energy ₹ 1,545.50 Max Healthcare ₹ 1,256.20 Intellect Design Arena ₹ 1,255 Karur Vysya Bank ₹ 253.50 Narayana Hrudayalaya ₹ 1,957 Laurus Labs ₹ 683 JK Cement ₹ 6145 The Ramco Cements ₹ 1,082.50 Manappuram Finance ₹ 284.90 Source: Trendlyne Select defence and pharma stocks have also continued their upward momentum. In the previous trading session, NBFC stocks like Muthoot Finance, Authum Investment & Infrastructure, Aditya Birla Capital, and Max Financial Services hit their respective 52-week highs. Other stocks that touched their one-year peaks this week include Navin Fluorine, MCX, Redington, defense majors like Bharat Electronics and Solar Industries, as well as Lloyds Metals & Energy, Max Healthcare, Karur Vysya Bank, Intellect Design Arena, Laurus Labs, JK Cement, The Ramco Cements, and Manappuram Finance. Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, said, 'Nifty, which has been trading within the 24500-25000 range for about a month now, is likely to remain within this range in the near term. The upper side of the range will be broken only on news of de-escalation of the Israel-Iran conflict or an abrupt end to the war.' There is uncertainty on this. The lower side of the range is unlikely to break since big buying, particularly by domestic institutions, will emerge on dips. If the war lingers and crude rises beyond $85, the lower band of the range will be broken. "A distinct feature of the market trend visible in yesterday's trade was the weakness in the broader market. While Nifty remained almost flat, SMIDs cracked, with the small-cap index correcting sharply by 2%. This trend of weakness in the broader market is likely to continue since they are excessively valued, and the ongoing risk-off can lead to further selling in this segment. Money may move from the overvalued SMIDs to the fairly valued, safe large caps in financials, industrials, autos, and real estate," he further added. Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.
