After a growth moderation in FY21, Non-Bank Finance Companies (NBFCs) are estimated to witness a 9.5 per cent jump in their assets under management in FY22, a report said on Thursday. Housing Finance Companies (HFCs) will post a higher growth at 10 per cent as home sales go up, India Ratings and Research said, maintaining its stable outlook on both NBFCs and HFCs for FY22. It estimated the growth to slowdown to 4-5 per cent for NBFCs and 6.5 per cent for HFCs in FY21, driven largely by the impact of the coronavirus pandemic. The system liquidity has improved considerably while the majority of large non-banks have strengthened their capital buffers and the sector has started witnessing disbursement growth, the rating agency said.
Read more about Non-FATF area investors can t have significant influence in NBFCs: RBI on Business Standard. The Reserve Bank on Friday said investors from non Financial Action Task Force complaint jurisdictions can only hold less than 20 per cent of the voting power in India-based NBFCs.
Read more about After RBI s paper on new regulatory framework, what next for NBFCs? on Business Standard. Over the last five years, their balance sheet more than doubled to Rs 49.22 trillion
Read more about Bajaj Finance declines after RBI imposes monetary penalty on Business Standard. Bajaj Finance fell 0.97% to Rs 5071.15 after the Reserve Bank of India (RBI) imposed a penalty of Rs 2.50 crore on the NBFC for use of coercive means of recovery.