Non-banking finance company News

 L&T Infrastructure Finance Company said it will raise up to Rs 60 crore by issuing bonds on private placement basis.

 Riding on upbeat market sentiment, as many as 44 small and medium enterprises (SMEs) got listed on capital markets with initial public offerings worth Rs 290 crore in the past fiscal.

The Pune-based company had reported net profit of Rs 211.36 crore in the corresponding period a year ago.

Mammen said Mudra Bank has already received a non-banking finance company (NBFC) licence from the Reserve Bank of India (RBI) and is registered under the Companies Act.

"There is enough headroom to grow the two new business segments of tractor and construction equipment financing," said T T Srinivasaraghavan, Managing Director, Sundaram Finance.

The Reserve Bank of India plans tougher rules for takeovers involving non-banking financial companies (NBFCs), according to a draft guideline published on Monday, outlining a demand that all substantial deals seek its prior approval.

The Reserve Bank on Monday proposed that non-banking financial companies would have to take prior approval from the regulator for takeover or acquisition of such firms.

The Reserve Bank of India proposed in draft guidelines published on Monday that prior written permission be obtained from the central bank for any takeover of a non-banking finance company (NBFC).

City-based Sundaram Finance Ltd will acquire 26 percent stake held by Britain`s RSA Group in Royal Sundaram Alliance Insurance for Rs.450 crore, the company said Wednesday.