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The central bank's new directive to lenders shall be applicable from December 1, 2023.
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NBFCs are likely to benefit from factors such as specialised business models and an increase in the number of students travelling abroad is one of the key factors, said the CRISIL report.
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Some of the NBFCs whose CoR got cancelled include Dhanbad Properties Private Limited, Soorya Vanijya & Investment Ltd., Jainex India Limited., Jayam Vyapaar Pvt Ltd, and JM Holdings Pvt Ltd, among others.
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RBI has tightened its grip on NBFCs post collapse of Dewan Housing and IL&FS
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CRISIL Ratings in a report on Tuesday also said demand for gold loans from micro enterprises and individuals -- to fund working capital and personal requirements, respectively -- has increased with the pick-up in economic activity and the onset of the festive season.
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The move comes against the backdrop of financial sector players like Dewan Housing Finance Corporation Ltd (DHFL) facing troubles.
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SME credit is expected to grow at 23-25 percent in FY19, according to Icra, driven by sizeable unmet demand, increased working capital requirement post GST implementation and limited credit availability from banks.
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Ajay Srivastava of Dimensions expects major consolidation in the non-banking financial companies (NBFC) space in the medium-term. Smaller NBFCs in the industry can gain on these potential M&A opportunities, he added.
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Consolidation in the telecom space would lead to bottoming out of the market. Bharti Airtel remains their top pick from the space because of its leadership and cost effectiveness of P&L account, Susmit Patodia, Head, Institutional Sales, MOSL.
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He is positive on the local market. He said it is currently a part of a 'globally optimistic rally'.
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NBFC's business has also been affected by the moderation in disbursements with limited cash availability, especially microfinance and gold-backed lending.
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Speaking to CNBC-TV18, Sudha Suresh, CFO of Ujjivan said that monthly collections have picked up strongly in January and there has been an encouraging trend in terms of repayment as customers are willing to repay but with a time lag.
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Speaking to CNBC-TV18 Udayan Mukherjee said that the next 3 months is going to throw up a lot of opportunities for buying. “You need to be opportunistic. We are going through a painful phase and it is not over. It is only getting entrenched.â€
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Speaking to CNBC-TV18 Rajeev Jain, MD of Bajaj Finance said that post demonetisation all verticals except for business loans have seen growth and the company has decided to be more cautious on loan against property and small businesses.
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Digant Haria of Antique Stock Broking says the NBFCs may face challenges for the coming 1-2 quarters. He is confident that the demand for white goods may make a comeback after a couple of quarters.
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P Phani Sekhar of Karvy Stock Broking is of the view that one may look at Hero Motocorp, Maruti Suzuki and non banking financial companies.
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The market will be led by financial, capital goods and utilities sector for the next few years. He does not see the IT sector turning around anytime soon.
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Mihir Vora, Director And Chief Investment Officer at Max Life Insurance expects a 10-15 percent compounded growth from the market over the next two years. He says the market has delivered a little more than the economy till now. It is high time the economy delivers too.
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In an interview with CNBC-TV18, Sanjiv Bhasin of IIFL said that these are standout earnings numbers from IndusInd and the bank will continue to command a premium valuation.
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Siddharth Purohit, Angel Broking prefers Axis Bank over other large private banks. He expects around 20 percent loan growth for Axis Bank in the third quarter of FY17. He also sees no incremental worsening with respect to asset quality for the bank.
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In an interview on CNBC-TV18, V Vaidyanathan of Capital First said that the cost of borrowing is expected to fall by 100 basis points and all NBFCs will see improvement in return on equity (RoE) due to the change in bond pricing.
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Cement sector will be the biggest beneficiary of government spend and infrastructure projects, says S Krishna Kumar, CIO Equity, Sundaram Mutual Fund.
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Mahantesh Sabarad of SBICap Securities believes various sectors will be impacted by the rate of Goods and Services Tax (GST), expected to be around 18 percent.
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As per the "Guidelines for 'on tap' Licensing of Universal Banks in the Private Sector", the initial minimum paid-up voting equity capital for a bank should be Rs 500 crore and thereafter, the bank should have a minimum net worth of Rs 500 crore at all times.
