NBFCs growth to be stronger due to unsecured loans, says ICRA Rating agency ICRA has revised its growth forecast for non banking finance companies (NBFCs) to 18% to 20% from 12% to 14% earlier due to likely strong demand for unsecured retail loans. However, higher cost of funds will keep margins under pressure for these lenders, the rating agency said. ICRA said that NBFC growth will come from the unsecured loans segment, consisting of personal […]

NRIs who invest in India through AIFs set up in Gift City get tax exemption   Non-resident clients’ income from foreign assets that pass via an Alternate Investment Fund established in an International Financial Services Centre is not taxed. Legally, the IFSC is distinct from the rest of India in that it provides foreign currency banking services. On July 12, the Central Board of Direct Taxes issued a memo clarifying a notice it issued in […]

IRDA considering Managed General Agencies in insurance   A new-age entity may be well on its way to entering India as the country’s insurance regulator is considering the feasibility of allowing managed general agencies or MGAs in the domestic market. A managed general agency is similar to a non-banking finance company in the banking space. An MGA can onboard customers, manage products, underwrite customers and also share the risk with larger insurance manufacturers. Such entities […]

Google for Startups Accelerator invites applications, focus on AI-first startups Google for Startups Accelerator is inviting applications for its eighth cohort with a focus on AI-first startups, the company announced in a blogpost on Thursday. Indian startups funded from Seed to Series A level can apply for the three-month programme till August 22, 2023, it said. “We are looking for Indian AI-first startups working across different sectors to solve complex problems and tackle the toughest […]

Register your LLC or Company Registration in Egypt or Start up business in Egypt Company Formation in EGYPT In Egypt, the formation of an LLC (Limited Liability Company) requires a minimum of two partners, who can be individuals or legal entities. The LLC must also have at least one manager responsible for the administrative work, who can be of any nationality or residence. The steps to form an LLC include reserving the company name, submitting […]