Social News XYZ     

Manappuram Finance shares plunge after RBI crackdown

Manappuram Finance shares plunge after RBI crackdown

Mumbai, Nov 17 (SocialNews.XYZ) Manappuram Finance fell close to 3 per cent in the morning trade on Friday after the RBI imposed a Rs 42.78 lakh fine on the NBFC for breach of norms and tightened norms for consumer loans.

Manappuram Finance was fined for non-compliance of certain provisions of the Non-Banking Financial Company - Systemically Important Non-Deposit taking company and deposit taking company (Reserve Bank) directions.


Manappuram Finance was hit by the RBI's tightening of consumer lending norms, as the banking regulator increased the risk weightage to 125 per cent from 100 per cent on consumer loans exposure of all commercial banks and non-banking finance companies.

The lenders will now have to set aside more capital against these loans which will impact their profitability.

Source: IANS

Facebook Comments
Manappuram Finance shares plunge after RBI crackdown

About Gopi

Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.

He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.

When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.

He can be reached at

%d bloggers like this: