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Hela February 22, 2019

NEW DELHI: Total gross loan portfolio of the microfinance industry stands at Rs 65,090 crore at the end of the third quarter, showing an increase of 6 per cent from the previous quarter and an annual growth of 37 per cent, according to a report by Sa-Dhan. The report is based on data provided by 124 microfinance institutions. Combined microcredit portfolio of all lenders […]

Hela February 17, 2019

A Karnataka-based businessman has been jailed for six months for allegedly not filing his income tax arrears and interest of around Rs 7.35 crore despite reminders, an official said on Saturday. “The defaulter was arrested on Friday for failing to pay his tax arrears and produced before the Tax Recovery Officer (TRO) from where he […]

Hela February 15, 2019

Non-banking finance company Manappuram Finance Ltd Wednesday has posted a 42.15 per cent rise in its profit after tax for the third quarter ending December 31, 2018 at Rs 244.11 crore. The company had recorded Rs 171.73 crore during the same period of last year. Income from operations for the October-December 2018 quarter grew by […]

Hela February 15, 2019

The Modi government had implemented the anti-benami transactions law. Confiscated benami assets worth Rs 6,900 crore: Income Tax Department  |  Photo Credit: BCCL New Delhi: The Income Tax Department has confiscated assets worth Rs 6,900 crore till now as part of its action under the anti-benami transactions law, the agency said in a public advertisement on Tuesday. […]

Hela February 15, 2019

Reliance Home Finance, part of Reliance Capital, on Tuesday posted a 37.5 increase in net profit after tax at Rs 55 crore in three months ended December 31, 2018. In comparison, the company had reported a net profit after tax of Rs 40 crore in October-December quarter of 2017, Reliance Home Finance Ltd (RHFL) said […]

Hela February 15, 2019

Non-banking finance company, Muthoot Finance on Wednesday said it plans to raise up to Rs 750 crore through non-convertible debentures (NCDs). The base size of the issue of Rs 100 crore, with an option to retain oversubscription up to Rs 650 crore. It offers nine investment options for secured NCDs with monthly, annual interest payment frequency or […]

admin February 11, 2019

The Union cabinet on Wednesday approved the creation of a fund for developing farm-markets, which will be used to upgrade existing rural agriculture markets, an official statement said. A corpus of Rs 2,000 crore will be set up at NABARD, an organisation that procures and trades farm items on behalf of government. The fund, titled […]

admin February 11, 2019

The Delhi Police had been pursuing the couple because they were proclaimed offenders in a case registered by the city police’s economic offences wing.(HT Photo used for representative purpose) A couple who are professional con artists and have scammed several persons and financial institutions of at least Rs 30 crore were arrested by Delhi police on […]