Namdev Finvest, a non-banking financial company specializing in small business lending, reported significant growth in its assets under management (AUM), which nearly doubled to over Rs 1,200 crore during the fiscal year 2023-24. The Jaipur-based company witnessed a remarkable 92.62 percent increase in AUM, reaching Rs 410 crore in net worth. Operating across eight states in northwest India, Namdev Finvest expanded its presence and received funding totaling USD 41.5 million, including a recent USD 19 million investment from Maj Invest in its Pre-Series C round.
9,800 MSME loans sanctioned in FY22 under SIDBI’s 59-minute loan scheme; this many disbursed : Rashtra News #MSME #loans #sanctioned #FY22 #SIDBIs #59minute #loan #scheme #disbursed Credit and Finance for MSMEs: SIDBI’s 59-minute loan approval scheme for micro, small and medium enterprises (MSMEs), PSB Loans in 59 Minutes, sanctioned only 9,868 loans involving Rs 5,197
IDBI Bank has been focusing on reducing bad loans by selling NPAs and resolving stressed assets. The bank is looking to bring down its gross NPA ratio, which was 4.69% as of December 2023, gradually with a recovery target of ?3,000 crore. It wants to maintain the net NPA level at below 1%.
The RBI has mandated that all regulated entities provide a Key Fact Statement (KFS) to retail and MSME borrowers, ensuring greater transparency and enabling customers to make informed decisions