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ICRA affirms BBB Credit Rating with Stable Outlook to CASHe Owned NBFC

Mumbai (Maharashtra) [India], November 22 (ANI/NewsVoir): India's leading credit-led, AI-driven financial wellness platform, CASHe, today announced that its wholly-owned NBFC, Bhanix Finance & Investment Ltd. (BFIL) has been assigned a [ICRA] BBB (Stable) credit rating from ICRA. The rating covers NCD / MLD / CP and bank facilities and is for an amount of Rs. 1025 crores. Instruments with [ICRA] BBB are considered to have a moderate degree of safety regarding the timely servicing of financial obligations. The company stated that it considers these investment-grade ratings from ICRA as supportive of its financing strategy and is committed to maintaining an investment-grade rating. To arrive at the ratings, ICRA has taken a consolidated view of the credit profiles of BFIL and its holding company, Aeries Financial Technologies Private Limited (AFTPL), given their business linkages, common management, and operational synergies. BFIL provides short-term unsecured personal loans to s ....

United Arab Emirates , Dhruv Jain , Bhanix Finance Investment Ltd , Aeries Financial Technologies Private Limited , Investment Limited , Pte Ltd , Bhanix Finance , Chief Executive Office , Reserve Bank , Mumbai Maharashtra India , Ovember 22 Ani Newsvoir India 39s Leading Credit Led , I Driven Financial Wellness Platform , Oday Announced That Its Wholly Owned Nbfc , Hanix Finance Amp Investment Ltd Bfil Has Been Assigneda Icra Bbb Stable Credit Rating From The Covers Ncd Mld Cp And Bank Facilities Is For An Amount Of Rs 1025 Crores Instruments With Are Considered To Havea Moderate Degree Safety Regarding Timely Servicing Financial Obligations Company Stated That It Considers These Grade Ratings As Supportive Its Financing Strategy Committed Maintaining Arrive At , Cra Has Takena Consolidated View Of The Credit Profiles Bfil And Its Holding Company , Eries Financial Technologies Private Limited Aftpl , Iven Their Business Linkages , Common Management , Nd Operational Synergies Bfil Provides Short Term Unsecured Personal Loans To Salaried Individuals Through The Technology Platform , Ith Its Competence Reflected In The Low Turnaround Time And Fully Digitised Process Adequate Capitalisation Rating Factor Bfil 39s For Current Scale Of Operations Over Last Five Years Till Fy2022 , Fil Has Received Equity Of Rs 260 Crores From Aftpl With The Last Infusion 142 In Fy2022 Funding Promoters Promoter Owned Entities Further , T Has Reporteda Consolidated Net Profit Over The Last Three Years Till Fy2022 That Added To Its Capital Buffer Profitability Supported By Higher Yields At Level , Ftpl Reporteda Net Profit During The Last Three Years Fy2020 Fy2022 With Improved Scale Of Operations And Moderation In Credit Costs , He Return On Average Managed Assets Roma And Equity Roe Have Improved Icra Noted In Its Report That Bfil 39s Profitability Is Supported By Higher Lending Yields Net Interest Margins Nims , Hich Remained Adequate To Cover The Operating Expenses And Credit Costs Liquidity Position Bfil 39s Is With No Negative Cumulative Mismatches In Asset Liability Management Alm Statement As On September 30 , Wing To The Short Tenure Of Loan Book Bfil 39s Borrowing Is Largely Dominated By Non Banks Witha Share 49 Total Borrowings Stood At 25 While Debentures Accounted For 24 As On September 30 ,

Ghost Loans by Faulty Fin-tech: Credit Bureaus Should Send Real-time Alert about Change in Credit Reports

The issue of ghost loans or fake loans that can wreck a person’s credit report burst into the public domain when a large number of people began to discover that their credit scores had plummeted or their credit reports contained incorrect information about loans they had never availed. ....

Uttar Pradesh , Jio Mart , Bajaj Finserv , Sunny Leone , Gagan Banga , Tech Pvt Ltd , Dhani Loans Services , Kreditbee Services Pvt Ltd , Quadrillion Finance Pvt Ltd , Investment Ltd , Moneylife Foundation , Karur Vysya Bank , National Rural Employment Guarantee , Reserve Bank , Dhani Loans , Systemic Issues , Wrong Credit Disbursal , Urgent Solution Needed , National Rural Employment Guarantee Act , Central Registry , Securitisation Asset Reconstruction , Security Interest , Slice Card , Pvt Ltd , Bhanix Finance , Kreditbee Services Pvt ,

Systemic Issues with KYC Verification Leads to Wrong Credit Disbursal by Dhani and Other Digital Lenders; Urgent Solution Needed

A couple of weeks ago there was a furore on twitter when several people found to their shock that their credit reports showed loans that they had never availed. ....

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