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RBI slaps Rs 3.1 lakh fine on IIFL Finance for gold auction surplus payments to borrowers

RBI slaps Rs 3.1 lakh fine on IIFL Finance for gold auction surplus payments to borrowers

The Reserve Bank of India has imposed a Rs 3.1 lakh penalty on IIFL Finance after a supervisory inspection found regulatory compliance failures. RBI said IIFL Finance did not pay certain borrowers the surplus proceeds from auctions of pledged gold items, over and above the loan outstanding. Separately, RBI fined Appnit Technologies Rs 5.8 lakh for KYC and prepaid payment instrument violations, including allowing Aadhaar OTP e-KYC based PPI accounts to run beyond one year without required identification. RBI cited these issues as compliance deficiencies.

Summarised by Beize from a story on The Economic Times on 15 May 2026
Muthoot Finance MD George Alexander Muthoot says gold loan demand is steady despite shifting borrower sizes

Muthoot Finance MD George Alexander Muthoot says gold loan demand is steady despite shifting borrower sizes

Muthoot Finance’s gold loan business is holding up strongly, with growth still near 50% year-on-year as rising gold prices lift collateral values. The firm notes a structural slowdown in volumes: gold tonnage is down and active loan accounts have fallen for the second straight quarter. Management says the decline is driven by shorter loan tenures and churn, not weaker demand. Smaller-ticket loans are shrinking while larger loans gain. Tighter unsecured lending also funnels borrowers toward gold-backed credit.

Summarised by Beize from a story on The Economic Times on 15 May 2026

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Mutual funds shift April bets toward capital goods NBFCs utilities and logistics while trimming tech banks and healthcare

Mutual funds shift April bets toward capital goods NBFCs utilities and logistics while trimming tech banks and healthcare

In April, Indian mutual funds rebalanced sector exposure, adding weight to capital goods, NBFC lending, utilities and logistics, while trimming technology, private banks, and healthcare. Motilal Oswal Financial Services data shows private banks remained the largest holding at roughly 17.3% but fell marginally by 0.3% month on month. The biggest traction came from sectors including NBFC non-lending and logistics, whereas multiple areas saw single-digit value gains.

Summarised by Beize from a story on The Economic Times on 14 May 2026
Goldman Sachs Offloads Jio Financial Services Shares in 62 Cr Block Deal With Morgan Stanley Buying Entire Lot

Goldman Sachs Offloads Jio Financial Services Shares in 62 Cr Block Deal With Morgan Stanley Buying Entire Lot

Goldman Sachs has sold 26.8 lakh shares of Jio Financial Services in a ₹62 crore block deal, selling at ₹231.45 per share—about a 1.1% discount to the previous day’s price. Morgan Stanley Asia Singapore Pte bought the entire quantity. Despite the large divestment, JFS shares closed up 1.1% at ₹234.20 on the BSE. The move adds to a period of rapid expansion, even as critics question differentiation amid profit decline in Q4 FY26.

Summarised by Beize from a story on Inc42 on 14 May 2026
RBI cancels CIC registrations for two firms after surrender requests and merger-linked legal changes

RBI cancels CIC registrations for two firms after surrender requests and merger-linked legal changes

The Reserve Bank of India has cancelled the certificates of registration of two core investment companies after they requested surrender, including RR Holdings and Anjali Capfin. RBI said the cancellations fit criteria for unregistered CICs that need no fresh registration. Separately, it cancelled HDFC Holdings’ CoR because the NBFC ceased to exist as a legal entity after amalgamation or merger, linked to HDFC Bank’s consolidation with HDFC Ltd. RBI also reported CoR surrenders by four other NBFCs and cancelled 150 registrations overall.

Summarised by Beize from a story on The Economic Times on 14 May 2026
RBI cancels licenses of 150 NBFCs leaving many firms suddenly unable to operate

RBI cancels licenses of 150 NBFCs leaving many firms suddenly unable to operate

The Reserve Bank of India has cancelled the registrations of 150 non-banking financial companies, effectively barring them from conducting financial business. The highest number of affected firms are registered in Delhi (about 67) and West Bengal (about 75). The move, taken under the RBI Act, 1934, impacts lending, leasing, and investment activities tied to these NBFCs.

Summarised by Beize from a story on The Economic Times on 14 May 2026

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Pharma and NBFCs surge as mutual funds pivot to defensive bets in April

Pharma and NBFCs surge as mutual funds pivot to defensive bets in April

In April, Indian fund managers leaned into defensive stocks, with pharmaceuticals drawing fresh inflows tied to potential upside from the semaglutide patent expiry. Mutual funds also increased focus on NBFCs and asset management companies, adding PNB Housing Finance as money tilted toward retail lending. The broader shift points to worries over oil prices and West Asian geopolitical risks.

Summarised by Beize from a story on The Economic Times on 14 May 2026
NBFCs can tie up dealers for outward remittances without prior RBI nod

NBFCs can tie up dealers for outward remittances without prior RBI nod

A new framework for outward remittances eases the process for NBFCs handling dealer tie-ups. Instead of seeking prior RBI approval, the regulatory emphasis shifts to what happens after onboarding—stronger compliance, transparency, and consumer protection obligations enforced at the regulated banks facilitating these transactions.

Summarised by Beize from a story on The Economic Times on 13 May 2026
Gold financiers jump up to 11% as India hikes gold import duty and prices spike

Gold financiers jump up to 11% as India hikes gold import duty and prices spike

Manappuram Finance, Muthoot Finance and IIFL Finance surged as the government raised gold import duty to 15%, pushing up domestic gold prices. The rally is tied to improved collateral value for gold-backed loans, which can strengthen borrower margins and potentially increase lending demand for these financiers.

Summarised by Beize from a story on The Economic Times on 13 May 2026
IPO Bound InCred Holdings profit rises 5% to ₹290 cr as revenue jumps 39%

IPO Bound InCred Holdings profit rises 5% to ₹290 cr as revenue jumps 39%

InCred Holdings, parent of Bengaluru NBFC InCred Finance, reported 9M FY26 net profit of ₹290.1 crore, up about 5% from FY25. Revenue from operations jumped 38.6% to ₹1,848.9 crore, mainly driven by interest income. The company has filed an updated DRHP for an IPO with fresh issue up to ₹1,250 crore and an OFS component, alongside stable asset quality metrics.

Summarised by Beize from a story on Inc42 on 8 May 2026

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Northern Arc Capital Q4 profit nearly triples to Rs 139 crore on income surge

Northern Arc Capital Q4 profit nearly triples to Rs 139 crore on income surge

Northern Arc Capital reported a sharp jump in Q4 performance, with net profit rising nearly threefold to Rs 139 crore. In the same quarter last year, profit was Rs 47 crore. The company also said total income increased to Rs 735 crore in January to March 2025-26, up from Rs 593 crore a year earlier, according to a regulatory filing.

Summarised by Beize from a story on The Economic Times on 8 May 2026
Bajaj Finance and Tata Capital launch 150 billion bond drive as NBFCs rush ahead of risk

Bajaj Finance and Tata Capital launch 150 billion bond drive as NBFCs rush ahead of risk

Bajaj Finance and Tata Capital are among five AAA-rated NBFCs planning to raise up to ₹150 billion by selling 2- to 5-year bonds. Corporate debt yields, particularly for shorter maturities, have eased—down around 15 bps—as oil prices cooled. With potential volatility looming in the Indian debt market, firms are front-loading borrowing this May.

Summarised by Beize from a story on Republic on 8 May 2026
OnEMI Technology Kissht IPO to debut today with grey market premium signals

OnEMI Technology Kissht IPO to debut today with grey market premium signals

OnEMI Technology Solutions, the parent behind Kissht, is set to list today as grey market trends point to a strong debut. Shares are expected to trade above the issue price, reflecting hefty IPO interest, especially from institutional investors. Funds raised will strengthen the firm’s NBFC subsidiary, supporting faster loan growth as investors watch for a fintech success story.

Summarised by Beize from a story on The Economic Times on 8 May 2026
Muthoot Microfin grew 13 percent as industry shrank 20 percent CEO details the turnaround

Muthoot Microfin grew 13 percent as industry shrank 20 percent CEO details the turnaround

Muthoot Microfin outperformed a shrinking lending market, expanding assets by more than 13% while industry growth fell about 20%. The CEO attributed the turnaround to improved repayment performance and lower bad loans. New individual loan products are gaining traction, and further margin expansion and profitability gains are expected in the coming years.

Summarised by Beize from a story on The Economic Times on 7 May 2026

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InCred Holdings updates Sebi IPO papers plans to raise Rs 1250 crore fresh issue

InCred Holdings updates Sebi IPO papers plans to raise Rs 1250 crore fresh issue

Retail-focused NBFC InCred Holdings has filed updated draft IPO papers with SEBI, targeting an estimated valuation of about Rs 15,000 crore. The proposed issue is pegged at Rs 3,000–4,000 crore, combining a fresh issue with an offer for sale by existing shareholders. The company says it will launch only when market conditions are suitable.

Summarised by Beize from a story on The Economic Times on 7 May 2026
Paytm drops NBFC licence bid after RBI cancels payments bank

Paytm drops NBFC licence bid after RBI cancels payments bank

Paytm says it will not pursue an NBFC licence, choosing a partnership model for lending instead. The decision follows the RBI cancelling Paytm Payments Bank’s licence. Despite the regulatory setback, Paytm reported a consolidated profit of Rs 183 crore in the fourth quarter, marking a strong turnaround, while revenues also rose.

Summarised by Beize from a story on The Economic Times on 7 May 2026
InCred Holdings files IPO draft to raise ₹1250 crore through fresh issue and OFS

InCred Holdings files IPO draft to raise ₹1250 crore through fresh issue and OFS

InCred Holdings, parent of NBFC InCred Financial Services, has filed its updated draft red herring prospectus with SEBI. The proposed public issue includes a fresh share sale of up to ₹1,250 crore and an offer for sale of up to 9.9 crore equity shares. Proceeds will mainly strengthen InCred Finance’s capital base and back onward lending. Several investors are set to offload shares via OFS.

Summarised by Beize from a story on Inc42 on 7 May 2026
Ecofy bags 15 million from Mirova to turbocharge green loans for solar and EVs

Ecofy bags 15 million from Mirova to turbocharge green loans for solar and EVs

Climate NBFC Ecofy has raised $15 million from Mirova to expand lending for rooftop solar and electric mobility, including two- and three-wheelers. Founded in 2022, it claims to be India’s first green-only NBFC and will use the funds for onward lending to residential and commercial customers. It already serves 130,000 users across 26 states.

Summarised by Beize from a story on YourStory on 6 May 2026

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Banks Are Quietly Exiting Small Ticket Durable Loans to NBFCs

Banks Are Quietly Exiting Small Ticket Durable Loans to NBFCs

Bank lending for consumer durables like washing machines and televisions is shrinking, while credit cards are increasingly used for these smaller purchases. The space is being filled by non-banking finance companies that can profit from low-ticket ticket sizes. Consumer durable loans remain a tiny share of total bank lending, and the shift toward cards and NBFCs is likely to keep growing.

Summarised by Beize from a story on The Economic Times on 5 May 2026
RBI warns borrowers of fake loan waiver campaigns charging upfront fees

RBI warns borrowers of fake loan waiver campaigns charging upfront fees

The Reserve Bank of India has cautioned borrowers about misleading loan waiver campaigns that claim to wipe off debts to banks and NBFCs. The regulator says these offers are often fraudulent traps run by dishonest actors who profit through false promises and upfront fees. RBI urges people to stay alert and verify any waiver claims through official channels.

Summarised by Beize from a story on The Economic Times on 4 May 2026
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