Non-bank lenders in India have expanded their deposit base by 21% in FY24, outpacing banks’ 13.5% growth, according to RBI data. Major NBFCs like Bajaj Finance and Shriram Finance offer higher interest rates than banks, making them attractive to savers. The number of deposit-taking NBFCs has been reduced to 25 from 34 last year.
RITES shares rally over 12% as stock trades ex-dividend, ex-bonus
RITES Share Price: The company announced a final dividend of Rs 5 per share and a 1:1 bonus share issue earlier in July for its