non-banking finance company

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Banking, Fintech & Insurance 01 Nov 2026, 05:00 PM IST

Equitas Small Finance Bank Chief PN Vasudevan Plans Exit Amid Conflict Concerns Over Daughter’s NBFC

Equitas Small Finance Bank managing director PN Vasudevan has announced plans to step down, citing a perceived conflict of interest linked to his daughter’s non-banking finance company. The development triggered a sharp intraday fall in the bank’s shares before a partial recovery, even as the lender continues to show strong operating momentum after a robust second-quarter profit performance.

By RDU Global Wire5 min read

Banking, Fintech & Insurance26 Oct 2026, 05:00 PM IST

Astranova Mobility arm wins RBI NBFC licence, targets Rs 5,000 crore AUM in five years

Astranova Mobility’s lending subsidiary, Novafusion Capital, has received Reserve Bank of India approval to operate as a non-banking financial company, giving the group a regulated platform to expand financing for India’s electric mobility transition. The company said it aims to build assets under management of Rs 5,000 crore over the next five years, with a focus on commercial EV adoption in a market it says will require about $100 billion in capital.

5 min readRead →

Banking, Fintech & Insurance25 Oct 2026, 08:00 AM IST

Bank of America Arm Seeks CCI Approval for Up to 49.9% Stake in Jio Credit

A Bank of America-affiliated investment vehicle has sought clearance from India’s competition regulator to acquire up to 49.9% in Jio Credit, the non-banking financial company housed within the Jio Financial Services group. The filing underscores continued foreign interest in India’s fast-expanding financial services and consumer credit market, even as regulators scrutinise ownership structures and market concentration.

4 min readRead →

Banking, Fintech & Insurance22 Oct 2026, 08:00 PM IST

Astranova Mobility arm wins RBI NBFC licence, eyes Rs 5,000 crore AUM in five years

Astranova Mobility’s lending subsidiary, Novafusion Capital, has secured Reserve Bank of India approval to operate as a non-banking financial company, giving the group a regulated platform to expand financing for India’s electric mobility transition. The company said it aims to build assets under management of Rs 5,000 crore over the next five years, with a focus on commercial EV adoption, a segment it says will require about $100 billion in capital to scale nationwide.

5 min readRead →

Banking, Fintech & Insurance20 Oct 2026, 02:00 PM IST

PNB Housing Sees 5-8 bps NIM Lift After RBI Rate Hike, CEO Ajai Shukla Says

PNB Housing Finance expects a modest 5-8 basis point improvement in net interest margin following the Reserve Bank of India's recent rate hike, according to CEO Ajai Shukla. The lender said the move should also support customer affordability through cheaper loans, while demand in the housing finance market remains healthy and Crisil has upgraded the company to AAA/Stable.

5 min readRead →

Banking, Fintech & Insurance19 Oct 2026, 02:00 PM IST

National Housing Bank Orders Forensic Audit of SRG Housing Finance Over Suspected Fictitious Loans

The National Housing Bank has initiated a forensic audit of SRG Housing Finance amid allegations of dubious lending practices, including fictitious loans, unsupported accounts and inconsistencies in repayment records. The probe will examine consumer data and loan origination processes, building on earlier findings that flagged potentially fictitious loans worth an estimated ₹300 crore to ₹400 crore.

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Startups & Venture Capital15 Oct 2026, 05:23 PM IST

Google.org Pledges $15 Million to The/Nudge to Broaden Credit Access for Indian MSMEs

Google.org has committed $15 million to nonprofit The/Nudge to help expand credit access for micro, small and medium enterprises across India. The funding is aimed at strengthening financial inclusion for smaller businesses that remain underserved by formal lending channels despite their central role in the economy.

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Banking, Fintech & Insurance14 Oct 2026, 02:07 PM IST

NBFC Services to Banks in Co-Lending Will Attract 18% GST

India’s GST framework will levy 18% tax on the service supplied by an NBFC to a bank in co-lending arrangements, while interest on the underlying loan will remain exempt, according to the latest committee decision. The panel also moved to align valuation of the NBFC’s service with the methodology prescribed by the Reserve Bank of India, a change that could bring greater consistency to a fast-growing lending model.

5 min readRead →

Banking, Fintech & Insurance14 Oct 2026, 05:50 AM IST

RBI clears Anup Saha for Kotak Mahindra Bank CEO role from 2027

The Reserve Bank of India has approved Anup Kumar Saha’s appointment as managing director and chief executive officer of Kotak Mahindra Bank for a three-year term beginning January 1, 2027. He will succeed Ashok Vaswani, with the Kotak board now expected to formalize the appointment and seek shareholder approval.

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Co-Occurring Entities

Entities frequently referenced alongside non-banking finance company:

PN Vasudevan(1)New Delhi(1)Equitas Small Finance Bank(1)