In the stock filing, Paytm asserted that it acts as a distributor of loans, and does not provide a First Loss Default Guarantee (FLDG) or other loan guarantees to lending partners
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During the financial year 2023-24 (FY24), net profit rose to Rs 8,245 crore recording a robust growth of 228.8 per cent against Rs 2,507 crore posted during FY23
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On a quarter-on-quarter (QoQ) basis the growth in the net profit has been 125.87 per cent due to a lower base effect
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The central bank's advisory comes within weeks of regulatory action against IIFL Finance, India's second-largest gold loan player, for violation of cash disbursal and other norms.
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The move comes as part of the bank’s effort to upgrade its technological infrastructure following regulatory actions by the Reserve Bank of India (RBI), which recently imposed restrictions on the bank’s digital operations
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RBI in its recent draft circular on prudential norms has said provisioning of infrastructure and non-infrastructure loans to 5 per cent
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Generally, whenever we make expectations related to deposits and advances, we do it conservatively, but the results always outperform our expectations, says K Satyanarayana Raju, MD & CEO, Canara Bank.
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Balanced advantage funds are generally meant for conservative investors, but those who want to have proper asset allocation between debt and equity can also invest in balanced advantage funds
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