HDFC Bank Ltd, India's largest private lender, on Saturday posted a nearly 33% jump in standalone net profit for the quarter to December helped by growth in its loans portfolio. HDFC Bank reported a net profit of 74.16 billion Indian rupees ($1.04 billion) for its third quarter, up from 55.86 billion a year earlier, it said in a regulatory filing.

Moody's said that Indian non-bank-lenders could face solvency stress in 2020 despite surplus system liquidity, with high-street banks advancing less money to a financing industry segment battling fund constraints for a while. Ever since the default by IL&FS became public in September-2018, NBFCs as a sector has been facing a severe liquidity crisis. Central-bank data showed that bank funding to NBFCs has slowed down.

Mumbai-police has arrested gang-of-fraudsters for duping companies on the pretext of providing them loans at lower-interest-rates. The gang, involving five-people, has duped over a dozen of companies across the country with the promise of securing-high-value-loans from banks. All the accused, identified as Shoaib Kasam Chandiwala, Ravindra Baburao Kamat, Shafique Babumiya Shaikh alias Mamu, Vijay Virendra Grover and Hiren Kishor Bogayata, are natives of Mumbai.