NBFC risk-weight move sends gold finance companies’ shares soaring

Mumbai: Gold finance companies Manappuram FinanceNSE 0.72 % and Muthoot FinanceNSE 0.39 % rallied on Thursday after the RBI in its sixth bi-monthly monetary policy said that it will assign risk weights for rated exposure of banks to all NBFCs. While Muthoot Finance ended up 6.5 per cent to Rs 515.60 and Manappuram Finance gained 7.7 per cent to Rs 104.05 on Thursday. Earlier, claims on exposure of corporates, asset financing companies and infrastructure NBFCs were risk-weighted as per their ratings. But for NBFCs, which are systemically important non-deposit taking NBFCs there was a blanket 100 per cent…

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NBFC Indian School Finance plans to raise $30-35 million from PE investors

 Indian School Finance Co. Pvt. Ltd (ISFC), which lends to companies in the education sector, is looking to raise around $30-35 million (approximately Rs200-230 crore) from private equity investors, said two people aware of the development. ISFC, a non-banking financial services company (NBFC), founded in 2008, lends to schools and education institutions. It lends to private schools, affordable schools, vocational institutes and coaching classes to help them build their infrastructure such as setting up of computer and science labs, construction of additional floors or wings in existing premises or for…

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