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The asset base of non-banking financial companies has scaled past Rs 54 lakh crore as of March 2022, constituting almost a quarter of the balance sheet of the commercial banking sector, Union Minister <keyword id="15586957" type="General" weightage="80" keywordseo="bhagwat-krishanrao-karad" source="Orion">Bhagwat Krishanrao Karad</keyword> said on Tuesday. It can be noted that since the fall of the two major non-banking financial companies (NBFCs) -- IL&amp;FS and Dewan Housing <keyword id="25455" type="General" weightage="100" keywordseo="finance" source="Orion">Finance</keyword> Ltd (DHFL) -- the shadow banking industry was in a long crisis. This crisis was more to do with their ability to mop up lendable funds as banks shunned them on one side and the RBI kept on tightening the regulatory noose around them, finally bringing them on par with banks when it comes to bad loan recognition since November 2021. Addressing a CII-organised <keyword id="6355260" type="General" weightage="80" keywordseo="nbfc" source="Orion">NBFC</keyword> summit, the Union Minister of State for Finance said NBFCs have become the major growth driver of the economy by playing a vital role in providing credit to small and medium enterprises. They have helped the MSME sector scale up its operations and create more jobs. They have helped create higher credit growth than the commercial banking sector --NBFCs loans grew over 10 per cent last fiscal while for banks, it was just half of that. The main reason for their success is that they have customised products and become an innovation machine of the financial landscape, Karad said. He also credited digitisation and customer service for their success, which has seen their balance-sheet size more than double to 25 per cent of the balance sheet size of the banking sector as of March 2022 from just 12 per cent in fiscal 2010. NBFCs are investing in digital technology like artificial intelligence and big data. It will also bridge the financial gap in the coming years due to its low cost of operations, the minister said, adding NBFCs have become a strong alternative to the banking sector. CII's NBFC forum chairman <keyword id="806982" type="General" weightage="80" keywordseo="abhimanyu-munjal" source="Orion">Abhimanyu Munjal</keyword>, who also heads <keyword id="1391131" type="General" weightage="80" keywordseo="hero-fincorp" source="Orion">Hero Fincorp</keyword>, said NBFCs disbursed almost 60 per cent of their loans digitally in FY22 and have also achieved real-time customer onboarding. He said around 11.3 million MSMEs have taken collateral-free loans worth Rs 2.32 lakh crore from NBFCs till June 2022. The credit demand in the NBFC sector is expected to grow to almost Rs 30 lakh crore in the next couple of years. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/fpis-pour-11452-crore-in-financial-services-in-the-first-half-of-november/articleshow/95681904.cms">FPIs pour ₹11,452 crore in financial services in the first half of November</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/banks/news/airtel-payments-bank-rolls-out-e-kyc-based-face-authentication-for-opening-saving-accounts/articleshow/95683429.cms">Airtel Payments Bank rolls out e-KYC-based face authentication for opening saving accounts</a>

NBFCs' asset base scales past Rs 54 lakh crore: MoS Finance

<keyword id="166412" type="COMPANY" weightage="20" keywordseo="International-finance-corporation">International Finance Corporation</keyword> (<keyword id="85860" type="COMPANY" weightage="20" keywordseo="IFC">IFC</keyword>) plans to invest $100 million in secured debt of Hero <keyword id="1497430" type="DOMAIN" weightage="20" keywordseo="Fincorp-Ltd">Fincorp Ltd</keyword> belong to the <keyword id="46577" type="COMPANY" weightage="20" keywordseo="Hero-group">Hero Group</keyword>. <keyword id="1391131" type="COMPANY" weightage="20" keywordseo="Hero-FinCorp">Hero Fincorp</keyword> is primarily into financing of two-wheeler purchases, loans to micro, small and medium enterprises (<keyword id="6358354" type="COMPANY" weightage="20" keywordseo="MSME">MSME</keyword>), personal loans, used car purchase loans and corporate loans, IFC said. According to IFC, the proposed investment will enable Hero Fincorp to expand is loan book across its business verticals. The company will also deploy three times its loan amount, through its own resources and other sources of funding, towards the same target beneficiaries over the next three years, IFC added. According to IFC, the consolidated loan portfolio composition of Hero Fincorp includes two-wheeler finance (37 per cent), used car finance (7 per cent), personal loans (11 per cent), home loans (6 per cent), MSME loans (21 per cent) and corporate loans (18 per cent). The shareholders of Hero Fincorp include Hero MotorCorp Limited (41.2 per cent), investment companies of the Munjal family (38.3 per cent), <keyword id="48085" type="COMPANY" weightage="20" keywordseo="Credit-Suisse">Credit Suisse</keyword> (2 per cent), Chrys Capital (10 per cent) and Apis Growth (2 per cent) and <keyword id="281546" type="COMPANY" weightage="20" keywordseo="HFCL">HFCL</keyword>'s dealers/employees (6.5 per cent). SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/nokia-x20-specifications-nokia-new-phones-price-in-india/articleshow/81981039.cms">Six new Nokia smartphones announced – price, specifications and availability details you should know</a> <a href="https://www.businessinsider.in/business/startups/news/founders-take-note-heres-why-most-startups-fail/articleshow/81981138.cms">Founders, take note: here’s why most startups fail</a> <a href="https://www.businessinsider.in/tech/apps/news/google-phone-app-now-lets-you-record-calls-automatically-from-unknown-numbers/articleshow/81982791.cms">Google Phone app now lets you record calls automatically from unknown numbers</a> <a href="https://www.businessinsider.in/business/startups/news/adar-poonawalla-serum-institute-of-india-has-bought-stake-policybazaar/articleshow/81985425.cms">Serum Institute of India buys into IPO-bound insurance unicorn PolicyBazaar, as True North sells part stake in secondary sale</a>

International Finance Corporation proposes to invest $100 million in Hero Fincorp's secured debt

<ul><li><keyword id="2181438" type="PERSON" weightage="20" keywordseo="Aye-Finance">Aye Finance</keyword>, the lending startup for micro, small and medium enterprises, has roped in former <keyword id="1391131" type="COMPANY" weightage="20" keywordseo="Hero-FinCorp">Hero Fincorp</keyword> Chief Business Officer <keyword id="252940" type="PERSON" weightage="20" keywordseo="Samir-Mehta">Samir Mehta</keyword> as its deputy CEO. </li><li>Mehta will focus on scaling up Aye’s business and will implement strategies to enhance the MSME lenders’ performance and capability.</li><li>Recently, in June, Aye Finance had raised ₹210 crore from CapitalG – Google’s parent company Alphabet’s growth fund. </li></ul>Aye Finance, the lending startup for micro, small and medium enterprises, has roped in former Hero Fincorp Chief Business Officer Samir Mehta as its deputy CEO. Mehta comes with 22-year experience in BFSI, and at Aye Finance, he will focus on scaling up Aye’s business and will implement strategies to enhance the MSME lenders’ performance and capability. “Aye provides much-needed financial services to India’s micro-scale informal businesses and the entrepreneurs who run them – a critical, but often overlooked and underserved population,” Mehta said about joining the startup. “He adds further strength to our team, as we successfully negotiate the times of this economic disruption. Samir’s expertise in P&amp;L management of large businesses and in scaling up lending to the SME segment will be very valuable as we emerge from this period,” said Sanjay Sharma, Managing Director of Aye Finance. Recently, in June, Aye Finance had raised ₹210 crore from CapitalG – Google’s parent company Alphabet’s growth fund. The Series E round also saw participation from GT Lightstone, Falcon Edge Capital, A91 Partners, and MAJ Invest. Aye Finance, founded in 2014, has disbursed loans worth ₹3000 crores to over 200,000 businesses in six years. In November last year, the startup had raised ₹125 crores from the Dutch entrepreneurial development bank – FMO. The company also recently ranked 14 in India’s best places to work by Great Place to Work Institute. The six-year-old Aye Finance is getting aggressive on its focus sector – the <keyword id="6393272" type="UNKNOWN" weightage="20" keywordseo="MSMEs">MSMEs</keyword>, given the government push for the growth of India’s small businesses. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/masayoshi-son-best-bet-for-future-profit-is-paypay-in-japan-built-on-vijay-shekhar-sharma-paytm-model-in-india/articleshow/77518892.cms">Masayoshi Son’s best bet for future profit is PayPay in Japan⁠ — built on Vijay Shekhar Sharma’s Paytm model in India</a>

Google-backed Aye Finance brings on board former Hero Fincorp Chief Business Officer

New Delhi, Mar 12 () The Competition Commision of India (CCI) has approved acquisition of additional equity shares in Hero FinCorp Ltd by Otter Limited and Link Investment Trust, according to the Ministry of Corporate Affairs.As per a joint notice filed with CCI, Hero FinCorp, Otter, Link and certain other subscribers entered into a share subscription agreement in January, pursuant to which Otter and Link propose to acquire certain additional equity shares in Hero FinCorp. Otter is a Mauritius-based investment company while Link Investment is a private trust registered in India and is engaged in making investments, as per a Ministry of Corporate Affairs release.Hero FinCorp is a non-banking financial company engaged in the business of consumer finance and commercial lending, it added. SRS ANSANS

CCI approves acquisition of addl equity shares in Hero FinCorp by Otter, Link Investment Trust

<keyword id="151763" type="COMPANY" weightage="100" keywordseo="ChrysCapital">ChrysCapital</keyword>, India’s largest and oldest private equity house, has raised $610 million for its seventh fund taking its assets under management to about $3.2 billion. The fund raising was supported by several of ChrysCapital's long-standing limited partners or LPs such as GIC, Asia-Alternatives and the <a href="http://www.businessinsider.in/searchresult.cms?query=Harvard+Management+Company&amp;sortorder=effectivedate">Harvard Management Company</a>, along with new marquee investors in funds which included global insurance companies, university endowments and family offices. 
 
LPs are institutions, family offices and individuals who participate as investors in funds. 
 
According to the company’s MD, regardless the environment of fund raising being tough, ChrysCapital's latest mop up took just over a year. 
 
This was a testament to the firm's strong track record of generating good returns and realisations in a market where both have been elusive, he said. 
 
The company’s latest fund will continue to pursue the firm's strategy of investing in minority growth and select control opportunities across its key focus sectors - business services, financial services, pharmaceuticals/healthcare, consumer and manufacturing. It has already made two investments from this fund - the first in <a href="http://www.businessinsider.in/searchresult.cms?query=L%26T+Infotech&amp;sortorder=effectivedate">L&amp;T Infotech</a>, part of the industrial conglomerate <keyword id="821340" type="COMPANY" weightage="20" keywordseo="LT-Group">L&amp;T Group</keyword> and India's largest mid-tier IT services company, and in Hero <keyword id="232544" type="COMPANY" weightage="20" keywordseo="Fincorp">FinCorp</keyword>, the consumer finance arm of <a href="http://www.businessinsider.in/searchresult.cms?query=Hero+MotoCorp&amp;sortorder=effectivedate">Hero MotoCorp</a>.

India's ChrysCapital raises $600 million from several investors

New Delhi, Apr 23 () The country's largest two wheeler maker Hero MotoCorp has come up with a financial package to support its dealers who have been facing liquidity crunch due to nationwide lockdown amid the coronavirus pandemic.The package, announced by Hero MotoCorp Chairman Pawan Munjal at a digital Town Hall over video conference earlier this week, includes a revised pricing structure on new products, financial support towards the interest on dealer stocks and financing options from Hero FinCorp, the company's retail finance arm.  "We have revised the pricing structure that will enhance your profitability, and the new structure will be applicable on all dispatches post the lockdown. Additionally, I am also happy to announce financial support towards the interest on the dealer stock for the complete lockdown period of 41 days," Munjal said at the Town Hall.The event was attended by the company's dealers, sales and after sales staff and its senior leadership team.To support the dealers with liquidity for operating expenditure (OPEX), the two wheeler major has come up with a solution with Hero FinCorp, which would disburse an amount in line with the respective dealer's wage and rental liabilities at a subsidised rate of interest.Several company dealers confirmed the steps announced by the company to improve their liquidity position.Munjal has now addressed the company's dealers twice over video conference in less than a month since the lockdown was announced.In his first town hall held on March 28 Munjal had announced the company's support measures for the dealers to help them in liquidating the BS-IV stock and for manpower up-skilling at dealerships.Hero MotoCorp' sales network includes over 6,000 touch points, comprising around 1000 dealers, service centres etc, across the country.Auto dealers of various companies are staring at huge losses as the lockdown has hampered retail sales and they are saddled with the large BS-IV inventory.Already, Honda Motorcycle and Scooter India (HMSI) has come up with a slew of measures, including buyback of unsold BS-IV stock, in order to support its sales partners. The company has also released payments of around Rs 1,700 crore to its suppliers, dealers and service providers.  MSS   SHWSHW

Hero MotoCorp announces financial support to dealers amid lockdown

By K J Bennychan Mumbai, Feb 17 () Adani Group, KKR, Bain Capital, Kotak Mahindra Bank and Piramal Enterprises are among the more than two dozen entities that have put in bids for crippled DHFL, the first financial services player undergoing insolvency process, according to two sources.The sources told that out of the interested entities, at least 14 are keen to take over the whole operations of the mortgage lender. In November, the Reserve Bank referred DHFL, the third largest pure-play mortgage lender, to the National Company Law Tribunal (NCLT) for insolvency proceedings.Prior to that, the company's board was superseded and R Subramaniakumar was appointed as the administrator. He is also the resolution professional under the Insolvency and Bankruptcy Code (IBC).The last date for submission of bids under the insolvency process was Monday.One of the sources said the company has received 24 bids, of which 14 are for the entire operations.According to the second source, the number of bidders was close to 30.While Subramaniakumar could not be reached for comments, calls made to a DHFL spokesperson remained unanswered.Bain Capital's Integral Investments South Asia VII fund, the US-based KKR Credit Advisors, Adani Properties, Welspun group's Astronomical Logistics, Blackstone arm BCP Topco VIII fund, Piramal Enterprises and Hero Fincorp, are among those that have bid for the entire operations of DHFL, the first source said.The source said Hong Kong-based Lonestar Asia Pacific Acquisition, Kotak Ivestment Advisors, Singapore-based SSG Capital Management, Varde Partners' VFSI Holdings, Aion arm Racion Revitalisation, Oaktree's India Opportunities Investment Fund and leading domestic ARC Arcil, are also looking for DHFL's full operations.As per the second source, Deutsche Bank AG, Edelweiss Financial Services, Barings' Maple II BV, Phoenix ARC, Warburg Pincus' Baywater Investment, SC Lowey Primary investments and Multiples Private Equity III, have put in their bids for part of DHFL.This list also includes Vastu Housing Finance Corporation, Asia Pragati Strategic Investment Fund, Promontoria Holding 206 BV (Cerberus), and Burlington Loan Management (Davidson Kempner), the source added.As of July 2019, the company owed Rs 83,873 crore to banks, the National Housing Board, mutual funds and bondholders.Most banks led by the State Bank have declared DHFL account as an NPA in the third quarter.DHFL was sent to bankruptcy after the government on November 15, 2019 enabled the Reserve Bank to sent large financial services companies, excluding banks, to the NCLT for insolvency proceedings. BEN RAM

KKR, Adani, Piramal, Kotak, among two dozen bid for DHFL

<ul><li>Global sports brand Puma has signed a strategic 3-year partnership with <keyword id="6354506" type="COMPANY" weightage="20" keywordseo="Royal-Challengers-Bangalore">Royal Challengers Bangalore</keyword>.</li><li>Puma will have exclusive retailing rights to RCB’s take down and replica jerseys.</li><li>We speak to Abhishek Ganguly, Managing Director, PUMA India and Southeast Asia to find out more about brand’s objective behind choosing RCB and growth of merchandising in India.</li></ul>IPL has broken many viewership records in the past two years and cricket is considered a religion in India. However, the <keyword id="11013376" type="UNKNOWN" weightage="20" keywordseo="sports-merchandising-market">sports merchandising market</keyword> is still at a nascent stage here. As per Duff &amp; Phelps 2021 report, on an average, the IPL franchisees’ earnings from matchday revenues (including ticket prices, merchandising, and food and beverages) account for less than 20% of their overall revenues. Indian sports leagues are still young and haven’t created as much of a fan following as their Western counterparts. For example, European and American sports leagues last for eight to nine months in a year and IPL lasts for two to three months. Most of the global football teams such as Manchester United, Chelsea, Barcelona and Real Madrid’s merchandising revenue contribution is in the range of 15% to 20% of their total revenue, whereas in case of IPL, this may be less than 5% (as per Duff &amp; Phelps). So this year, Puma has entered into a 3-year merchandising partnership with Royal Challengers Bangalore. The global sportswear brand aims to accelerate the merchandising market’s growth in our country. Puma will have exclusive retailing rights to RCB’s take down and replica jerseys, adding pan-India merchandise reach for the franchise across retail and e-commerce channels. The collection will also include a fanwear range of polo tees, shorts, pants, flip flops and caps. Telling us more what the brand intends to achieve from their partnership with RCB, Abhishek Ganguly, Managing Director, PUMA India and Southeast Asia said, “We want to achieve three things. One, there is a commercial opportunity around merchandising, which we feel is still a bit under indexed in India. The sports culture is still work-in-progress, unlike football teams in more established sports countries. In India’s sports market, the merchandising is at a very nascent stage and we would like to substantially grow that with our RCB Association. We believe that with a global sportswear brand, RCB can really do a lot more on merchandising. And merchandising is very important as a part of fan engagement as well as building the culture of sport because if you follow a team or a player, you'd like to cherish and share merchandise. It's probably the most emotional connect that a fan has with the team. So, we see this as a big opportunity of growth for future. And third, we believe that the RCB fan base is substantial. And we would like to connect with that audience and engage with them.” According to Licensing International, in 2019, the global licensed sports merchandise market was valued at approximately $292.8 billion, and was forecast to reach a value of 33.99 billion U.S. dollars by 2023. In India, sports merchandising makes revenue of barely $18 million. Now that most fans would be watching the game from home, it would be an additional challenge for the merchandising industry. Sharing why it is important to boost merchandising for the growth of sports marketing, Ganguly said, “The team merchandise market in India is pretty restricted. Today, it's a Rs 50-60 crore market and we believe that our association can substantially add to this even in the first year. And for sports culture, it is very important that this market grows because this has a trickle-down effect in the overall growth of sports in India, because the more people follow their heroes and their teams, there will be kids who take to sport more seriously, because it creates that emotional connect with their favorite team and their favorite player. So, we believe that this is something that has to grow in India to become a more established sports market.” Puma’s RCB merchandise will be promoted through its social media platforms, website, exclusive stores, multi-brand channels, large format stores like Lifestyle and Shoppers Stop and even in RCB Bar and Café. This year also marks Puma's entry in the IPL again. Puma was around for the first few seasons and had exited the league for a while. According to media <a href="https://timesofindia.indiatimes.com/sports/cricket/news/after-puma-adidas-to-bid-for-kit-sponsorship-rights-of-india-cricket-team/articleshow/77415609.cms">reports</a>, Nike, Adidas and Puma were keen to pick up RCB’s kit sponsorship last year as BCCI had decreased the base price to Rs 61 lakh per game, down around 30% from the Rs 88 lakh which Nike was shelling out earlier. With the pandemic, RCB’s value also dropped from Rs 595 crore in 2019 to Rs 536 crore in 2020. However, in 2020, RCB’s Title Sponsor was Muthoot Fincorp and the other brands associated with the franchise were Myntra, Jio, Exide, Nuvoco, Astral Pipes and Balkrishna Industries Ltd (BKT). Telling us why Puma chose to partner with RCB, Ganguly said, “We decided to come back to IPL and when we were considering which team to associate with, RCB landed on our table as a very natural choice. First and foremost, we tracked the popularity of the brand. RCB team is popular not just in Bangalore and Karnataka, but across India. And we found it to be one of the most popular and most followed teams. We also saw that it has got some huge social media following, and high engagement rates. So that gave us an idea that the fans really have a strong point of view and association with the club.” Puma also has a 9-year brand endorsement deal with RCB’s captain Virat Kohli signed in 2017.

You Searched For "hero fincorp" and got 8 results

NBFCs' asset base scales past Rs 54 lakh crore: MoS Finance

PTI

International Finance Corporation proposes to invest $100 million in Hero Fincorp's secured debt

IANS

Google-backed Aye Finance brings on board former Hero Fincorp Chief Business Officer

Sanchita Dash

CCI approves acquisition of addl equity shares in Hero FinCorp by Otter, Link Investment Trust

PTI

India's ChrysCapital raises $600 million from several investors

BI India Bureau

Hero MotoCorp announces financial support to dealers amid lockdown

PTI

KKR, Adani, Piramal, Kotak, among two dozen bid for DHFL

PTI

Puma aims to fuel growth of the Rs 60 crore merchandise market in India through its partnership with Royal Challengers Bangalore

Karuna Sharma

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