I expect a minimum double-digit credit growth in FY21: Siddhartha Mohanty, MD & CEO, LIC Housing Finance

The increase in differential between circle rates and agreement values from 10-20% under section 43CA is a welcome move and augurs well for home buyers as well as developers. from Banking & Finance – The Financial Express https://ift.tt/3eV6R...

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NBFCs would have seen collection efficiencies beyond 95% in October: Analysts

Many NBFCs like Cholamandalam Investment and Finance, Shriram Transport Finance and Shriram City Union Finance have done well on the collection front, especially after the lifting of the moratorium by August 31, thanks to the opening up of businesses and the early signs of revival in the economy. from Banking & Finance – The Financial Express https://ift.tt/2JYgT...

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Muthoot Finance loan-to-value currently at 61%

Total weight of gold pledged with the company stood at 163 tonne at the end of the second quarter, against 171 tonne in the corresponding period of last fiscal. from Banking & Finance – The Financial Express https://ift.tt/3lw6q...

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Dewan Housing delays results announcement; to submit on or before Nov 30

Dewan Housing Finance Corporation Ltd (DHFL) on Friday said it is not in a position to submit the audited standalone and consolidated financial statem from Business Line - Money & Banking https://ift.tt/36BpJ...

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Standardised insurance cover for vector-borne diseases in the work

The proposed product will be available at all health and general insurers once the guidelines are finalized following a consultation process. As per the draft norms, the product is being envisaged as an annual, single premium policy with optional riders. from Banking/Finance-Industry-Economic Times https://ift.tt/3ltud...

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RBI cancels Certificate of Authorisation of five PSOs

Our Bureau The Reserve Bank of India (RBI) has cancelled the Certificate of Authorisation (CoA) of five Payment System Operators (PSOs), including Ai from Business Line - Money & Banking https://ift.tt/36x79...

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IRDAI moots standard health cover for specific vector borne diseases

Continuing with the product standardisation initiatives, the insurance regulator has now mooted vector borne disease specific health insurance policy from Business Line - Money & Banking https://ift.tt/3pnZf...

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UGRO Capital nets ₹17.2 cr profit in Q2

UGRO Capital reported a net profit of ₹17.17 crore for the second quarter of the fiscal as against a net loss of ₹5.89 crore for the same period a ye from Business Line - Money & Banking https://ift.tt/3ls9I...

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Merger of HDFC ERGO Health Insurance with HDFC ERGO General Insurance complete

The merger of HDFC ERGO Health Insurance, which was earlier known as Apollo Munich Health Insurance, with HDFC ERGO General Insurance, has been comple from Business Line - Money & Banking https://ift.tt/2IwLq...

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Kerala’s first CNG powered smart bus service flagged off in Kochi

This is the first to introduce open loop card payments in buses from Business Line - Money & Banking https://ift.tt/2JTTn...

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RBL Bank completes fund raise of ₹1,556 crore

Our BureauRBL Bank, on Friday, announced the completion of fund raise of ₹1,566 crore through preferential allotment. “The bank’s Total Capital Adequ from Business Line - Money & Banking https://ift.tt/32IFT...

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RXIL eyes ₹1,000-crore of transactions by Jan-Feb

SurabhiWith business getting back to normal and larger number of players onboarded, Receivables Exchange of India Ltd (RXIL) is confident that trans from Business Line - Money & Banking https://ift.tt/35rOU...

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MAS Financials Q2 net down 6.5%

Our BureauMAS Financial Services Limited reported a standalone net profit of ₹34.20 crore for the quarter ended September 2020, lower by about 6.5 per from Business Line - Money & Banking https://ift.tt/2UohM...

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Dvara KGFS mulls converting itself into Small Finance Bank

The Chennai-based, rural-focused NBFC is evaluating the conversion possibility, given that the rural population needs not just loans but also right savings products from Business Line - Money & Banking https://ift.tt/35p2L...

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SBM Bank India set to launch a neo banking platform

It was the first foreign bank in India to obtain a banking licence from RBI in January 2019 from Business Line - Money & Banking https://ift.tt/38DdH...

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PLANNING FOR A NEW HOME POST PANDEMIC

from Banking/Finance-Industry-Economic Times https://ift.tt/2Urfo...

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How to invest money in Mutual Funds?

from Banking/Finance-Industry-Economic Times https://ift.tt/3pmwW...

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Banks get margin boost in Q2 from cheaper deposits, lack of slippages

PNB chief executive SS Mallikarjuna Rao admitted that the non-recognition of slippages had helped margins and that the 3.21% NIM should be considered an exception. from Banking & Finance – The Financial Express https://ift.tt/3ng1W...

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We’re bullish on anything related to consumption story: HSBC India’s Rajat Verma

In the initial phase of the crisis, till the point where the credit guarantee scheme and the moratorium came in, credit was mostly flowing to larger creditworthy companies. from Banking & Finance – The Financial Express https://ift.tt/3eTNG...

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Lakshmi Vilas Bank for deal with Clix without compromising on its core interest

The bank said last week that a minor incremental due diligence which was requested by Clix Group had been completed and both the sides were in the process of finding a workable and mutually acceptable framework. from Banking & Finance – The Financial Express https://ift.tt/32EJX...

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Paytm, Sachin Bansal’s Navi among bidders for DHFL stake in insurer

Oaktree, Piramal, too, submit EoIs for 50% stake in Pramerica Life from Business Line - Money & Banking https://ift.tt/3eR0O...

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Petronet LNG backs out of plan to invest in Tellurian terminal

Petronet LNG has distanced itself from an investment in Tellurian Inc’s proposed Driftwood LNG terminal.Speaking to reporters a day after announcing t from Business Line - Money & Banking https://ift.tt/3nlQX...

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Retail lending activities offer tremendous potential: PK Vijayakumar, member of COD, Dhanlaxmi Bank

Indian economic activity gradually moved past the worst and is showing signs of resumption in activities. The bright spot in this otherwise bleak scenario is an upbeat rural India. from Banking & Finance – The Financial Express https://ift.tt/3eTzq...

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IRDAI tweaks norms on sale of life cover without wet signature

Our BureauLife insurers should provide a standard presentation on the product being sold without the physical signature of the policyholder. A copy of from Business Line - Money & Banking https://ift.tt/2UilD...

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India Post launches doorstep service for submission of DLC for pensioners

India Post Payments Bank (IPPB) and Ministry of Electronics and Information Technology (MeitY) on Thursday have successfully launched the initiative o from Business Line - Money & Banking https://ift.tt/3kjoQ...

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AU Small Finance Bank starts operations in eastern India

Executive director of AU Bank Uttam Tibrewal said that the banking entity has started its journey in eastern India beginning with Kolkata. from Banking/Finance-Industry-Economic Times https://ift.tt/2GXiG...

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Citibank expects card spends to reach year-ago level in Nov on festive offers, economic revival

Chowdhry said in October, spends on bank's cards were at 80 per cent of the year-ago period and have been on an upward trajectory. from Banking/Finance-Industry-Economic Times https://ift.tt/3pjLp...

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Court rejects Deepak Kochhar's bail plea

Deepak Kochhar was arrested by the ED in September under the Prevention of Money Laundering Act (PMLA) in the ICICI Bank-Videocon money laundering case. The businessman applied for bail on merits as well as on account of default, claiming the prosecution has failed to file a charge-sheet in the case within stipulated period. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2IscM...

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Irdai gives final nod for merger of HDFC ERGO Health with HDFC ERGO General Insurance

In late September, the National Company Law Tribunal, Mumbai had okayed the scheme of amalgamation between HDFC ERGO Health Insurance (formerly Apollo Munich Health Insurance Co Ltd) and HDFC ERGO General Insurance Co Ltd (HDFC ERGO). from Banking/Finance-Industry-Economic Times https://ift.tt/32Dtl...

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GOLDEN TIME OF THE YEAR

from Banking/Finance-Industry-Economic Times https://ift.tt/3njYB...

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JM Financial sees a bumper year for fund-raising from capital markets

With the Covid situation easing up, more corporates will go for capital expansion, says top official from Business Line - Money & Banking https://ift.tt/3piSK...

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Yes Bank case: Rana Kapoor's daughter Roshni gets bail

Roshni Kapoor was summoned by the court last month in connection with the case. She is one of the eight accused named in the chargesheet filed in the case by the CBI. from Banking/Finance-Industry-Economic Times https://ift.tt/3kp1m...

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SIDBI commits Rs 250 cr funding to 3 firms; Stride Ventures gets up to Rs 85 cr

Last week, SIDBI had tweeted that it would provide Rs 250 crore to three entities - Stride Ventures, India SME Investments Fund and JSW Ventures Trust. "Furthering the Startup India Mission, SIDBI commits additional Rs 250 crore to 3 Alternative Investment Funds under Fund of Funds for Startups (FFS) of GoI," it had said. from Banking/Finance-Industry-Economic Times https://ift.tt/2Iw0T...

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Nirmala Sitharaman addresses media on economy, stimulus package: Key points

Union finance minister Nirmala Sitharaman addressed a press conference in an effort to pull the economy out of its historic contraction. "Economy has staged a strong recovery with growth in GST collections, bank credit, FDI inflows along with other indicators," she said. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3kiAC...

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India in historic technical recession, RBI 'nowcast' shows

India’s economy probably shrank for a second straight quarter, according to RBI, pushing the country into an unprecedented recession. Gross domestic product contracted 8.6% in the quarter ended September, the Reserve Bank of India showed. The economy had slumped about 24% in April to June. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3klKI...

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Savings glut: Covid-19 pushes household financial savings to 21% of GDP in Q1

Globally, the Covid-19 induced lockdown has led to increase in precautionary savings from Business Line - Money & Banking https://ift.tt/3pmlm...

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How should you change your financial resolutions in the pandemic

from Banking/Finance-Industry-Economic Times https://ift.tt/38AAj...

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Home loans beat five-month lull, see double-digit growth between September and October

Leading home loan providers, such as State Bank of India, ICICI Bank and Housing Development Finance Corporation said that demand for home loans surged. All these lenders have witnessed double-digit growth in home loan advances, despite a lull between April and August. from Banking/Finance-Industry-Economic Times https://ift.tt/3nbnZ...

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IBA agrees to 15% annual wage hike for bank staff

Sunil Mehta, chief executive, IBA, said, a detailed bipartite settlement and joint note were signed with UFBU, which represents four workmen unions and four officers’ associations and also Bank Karmachari Sena Mahasangh (BKSM), who were parties to the agreement. from Banking & Finance – The Financial Express https://ift.tt/32wNG...

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HDFC Bank eyeing tenfold growth in merchant base to 20 million in three years

The lender on Wednesday launched a new banking and payment solution for its merchant called SmartHub Merchant Solution 3.0. This will allow merchants and self-employed professionals to instantly open a current account and start accepting payments both through physical and digital channels, the bank said in a statement. from Banking/Finance-Industry-Economic Times https://ift.tt/3kn1i...

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ESAF SFB posts 41% rise in H1 net profit

Our Bureau ESAF Small Finance Bank has posted a 41 per cent growth in net profit at 130.42 core for the half year ended September 30, 2020, against from Business Line - Money & Banking https://ift.tt/3kpeC...

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IBA, bank unions conclude wage revision negotiations

After three years of intense negotiations, bank employees' unions and IBA, on July 22, had entered into a memorandum of understanding for an annual wage hike of 15 per cent. from Banking/Finance-Industry-Economic Times https://ift.tt/3ptpl...

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Muthoot Finance to be added to MSCI India domestic index

Our Bureau As part of MSCI’s (Morgan Stanley Capital Index) semi-annual review of indices, Muthoot Finance will be added to the MSCI India Domestic In from Business Line - Money & Banking https://ift.tt/36ouF...

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Indiabulls Housing Finance Q2 profit falls to ₹323 crore

Our BureauIndiabulls Housing Finance’s net profit for the second quarter of this fiscal fell 54.44 per cent to ₹323.20 crore against ₹709.52 crore in from Business Line - Money & Banking https://ift.tt/3lnBh...

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After FM pitch for promoting RuPay, Visa says competition offers innovation, choice to customers

A day after Finance Minister Nirmala Sitharaman asked banks to "only promote" RuPay cards, Visa's country manager for India and South Asia T R Ramachandran said that digital payments penetration is very low in India at only 18 per cent of overall personal consumption expenditure. from Banking/Finance-Industry-Economic Times https://ift.tt/3neDL...

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IBA, UFBU ink wage revision agreement

Settlement provides for 15 per cent increase in pay slip from Business Line - Money & Banking https://ift.tt/3lmF7...

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HDFC Bank launches banking and payment solution for merchants

Our BureauPrivate sector lender HDFC Bank, on Wednesday, launched comprehensive banking and payment solution for merchants.Called SmartHub Merchant So from Business Line - Money & Banking https://ift.tt/2Io0n...

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IRDAI nod for remote agent exams could help insurers recruit more easily

Pilot on but challenges in terms of infrastructure remain from Business Line - Money & Banking https://ift.tt/3kkWL...

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India is world's third largest fintech market with innovations in digital payments

India is world's third largest fintech market with innovations in digital payments from Banking/Finance-Industry-Economic Times https://ift.tt/32yjI...

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WhatsApp Pay goes official after NPCI approval

Now you can send money to your friends and family through WhatsApp as easily as sending a message. There’s no fee, and it’s supported by more than 140 banks. And because it’s WhatsApp, it’s secure and private too. from Banking/Finance-Industry-Economic Times https://ift.tt/3pdYE...

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Worldline’s buy of Ingenico a big plus for Indian market merchants and customers, says top official

The combined entity can now offer unified solutions: Deepak Chandnani from Business Line - Money & Banking https://ift.tt/3lkk1...

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Sundaram Home Finance sees green shoots, to raise ₹2,000 cr in H2

Funds raised will be used to grow its business in non-metro towns from Business Line - Money & Banking https://ift.tt/3kdO3...

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BankBazaar plans to hire 500 by March 2021 to support business expansion

Majority of new hires to be for product, technology, customer service domains across levels from Business Line - Money & Banking https://ift.tt/2UgDe...

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Paytm Insider resumes on-ground events with Covid-19 safety precautions

After almost eight months of Covid-19 induced restrictions, people have begun to venture out. Against this backdrop, Paytm Insider, an entertainment t from Business Line - Money & Banking https://ift.tt/36q2r...

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ICICI Bank's retail home loan portfolio crosses Rs 2 lakh crore

ICICI's total mortgage loan portfolio which also includes loans against property stood at Rs 2.12 lakh crore at the end of September, accounting for nearly half of its retail loan book. The bank's gross loan portfolio was at Rs 6.53 lakh crore. The growth was also aided by the bank’s expansion of footprint in tier 2, 3 and 4 cities, ICICI's executive director Anup Bagchi said. from Banking/Finance-Industry-Economic Times https://ift.tt/35owJ...

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Bank of Baroda cuts MCLR by 0.05 per cent across tenors

The one-year tenor -- which is the benchmark for all consumer loans such as auto, retail, housing -- has been reduced to 7.45 per cent from 7.5 per cent. from Banking/Finance-Industry-Economic Times https://ift.tt/3nhDK...

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ICICI Bank’s mortgage loan portfolio crosses ₹2-lakh crore mark

Reports highest ever mortgage disbursement in October from Business Line - Money & Banking https://ift.tt/2GPIa...

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1 in 3 people are making digital payment at least once a day during festival season: Survey

Digital payments continue to be the preferred payment method for 39 per cent of consumers in India, ahead of debit and credit card payments (26 per ce from Business Line - Money & Banking https://ift.tt/2GOFb...

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Views | India crudely tries to prevent payments dominance

Transactions will be limited for third-party app providers but not those with various bank licences from Business Line - Money & Banking https://ift.tt/35fTp...

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Views | India crudely tries to prevent payments dominance

Transactions will be limited for third-party app providers but not those with various bank licences from Business Line - Money & Banking https://ift.tt/35fTp...

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5 THINGS TO AVOID IN RETIREMENT PLANNING IN THE NEW NORMAL

from Banking/Finance-Industry-Economic Times https://ift.tt/32xEJ...

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Retired PSU bankers may get one rank, one pension plan

Finance minister Nirmala Sitharaman has sounded off banks to do more for employees who retired earlier so they are not discriminated against in terms of pension. The government has also asked banks to review the family pension scheme so that the pension for the spouse is the same as the government. from Banking/Finance-Industry-Economic Times https://ift.tt/3kg83...

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Godrej Group forays into housing finance business

Amid a spurt in demand for home loans, Godrej Group, on Tuesday, announced its foray into the financial services industry with the launch of Godrej Ho from Business Line - Money & Banking https://ift.tt/35hvl...

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Toyota Kirloskar Motor declares lockout at two plants in Bidadi

Our BureauPassenger car-maker Toyota Kirloskar Motor has declared a lockout at its two plants in Bidadi near Bengaluru following labour unrest.A state from Business Line - Money & Banking https://ift.tt/35hie...

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CBI books Best Foods Ltd for ₹1,006 cr bank fraud

Conducts searches at four locations. from Business Line - Money & Banking https://ift.tt/2InSC...

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Amazon Prime bags rights to stream New Zealand cricket in India

Our BureauAmazon Prime Video has announced its first foray into live sports in India with the acquisition of India territory rights for New Zealand from Business Line - Money & Banking https://ift.tt/2UaK1...

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Unpaid dues from previous months may keep credit cost higher for MFIs

Cumulative repayments continue to be low in the range of 60-70%, industry organization Sa-Dhan said. Another area of concern for the sector is that 4-5% of customers are yet to begin repayments. from Banking/Finance-Industry-Economic Times https://ift.tt/3kkIw...

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Gold loans likely to shoot up this fiscal; check how much gold does India’s top 3 gold loan NBFCs have

The outstanding organised gold loan is expected to grow to Rs 4 lakh crore in FY21 from Rs 3.4 lakh crore in FY 2020. from Banking & Finance – The Financial Express https://ift.tt/3kltw...

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Ensure all accounts are seeded with Aadhaar numbers by March next: FM to banks

Union Finance Minister Nirmala Sitharaman was addressing at the Indian Banks’ Association’s 73rd annual general meeting. from Business Line - Money & Banking https://ift.tt/32vBP...

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Rs 946-cr bank fraud case: CBI carries out searches against Ezeego promoters in Mumbai

The Central Bureau of Investigation (CBI) has booked company promoters Ajay Ajit Peter Kerkar and Urrshila Kerkar, and directors Neelu Singh, Arup Sen, Manisha Amrapurkar, Pesi Patel and Karthik Venkatrman for alleged diversion of loan funds, the officials said. from Banking/Finance-Industry-Economic Times https://ift.tt/32uZg...

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Ensure all accounts are linked with Aadhaar by Mar: FM to banks

Finance minister Nirmala Sitharaman on Tuesday asked banks to ensure that all accounts are linked with Aadhaar numbers of respective customers by March 31, 2021. She said the financial inclusion story is not over and banks still have inclusion to carry forward. There are many accounts which are not linked with Aadhaar. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/36kSg...

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Flipkart offers customised group health insurance cover issued by Bajaj Allianz

Customers opting on the Flipkart platform are not required to undergo any pre-emptive medical tests from Business Line - Money & Banking https://ift.tt/35gVU...

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Cholamandalam Investment and Finance launches co-lending biz with technology from Nucleus Software

The solution would help Cholamandalam process the co-lending applications much faster, assess credit risk through a robust framework and ensure compliance with regulatory requirements, a company statement said. from Banking/Finance-Industry-Economic Times https://ift.tt/3lhWn...

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Gold loan market will continue to shine on high prices: World Gold Council

Our BureauThe organised gold loan market, which continues to hold much promise, got a significant push from the current pandemic and economic downtu from Business Line - Money & Banking https://ift.tt/3eIpA...

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Paytm introduces Payout Links for businesses

Paytm has launched Payout Links for businesses, enabling them to instantly process payouts to customers, employees and vendors, without collecting the from Business Line - Money & Banking https://ift.tt/3pfsq...

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Adani, Piramal, others revise offers for troubled non-banking finance company DHFL

Adani Group, Piramal Enterprises, US-based Oaktree and Hong Kong-based SC Lowy have submitted 10-70 per cent higher price for either a stake in the company or buying out some of its assets. from Banking/Finance-Industry-Economic Times https://ift.tt/3ke7N...

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Godrej forays into housing finance, aims Rs 10,000-crore balance sheet in 3 years

To begin with, the company will commence operations in four key markets of Mumbai, Bengaluru, National Capital Region and Pune with loan against property, home loans and expand product portfolio to business and personal loans later. It will partner with developers including Godrej Properties, to provide financing experience to their existing and new customers. from Banking/Finance-Industry-Economic Times https://ift.tt/3n88C...

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Gross direct premium by non-life insurers decline marginally in October

However, the new business premium of life insurers has risen 32 per cent. from Business Line - Money & Banking https://ift.tt/38qef...

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GNPAs of banks show improvement QoQ

‘Moratorium till Aug provided space in terms of recognition of NPAs which could have improved the ratios; have to wait to see true levels of NPAs in the system’ from Business Line - Money & Banking https://ift.tt/3kfF4...

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CHOOSING THE RIGHT FUND FOR FIRST TIME INVESTMENT

from Banking/Finance-Industry-Economic Times https://ift.tt/3n2X0...

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Banks report lower NPAs for September quarter

Contrary to expectations that there would be an increase in bad loans in the banking sector due to Covid-19, the ratio of non-performing assets (NPAs) to total loans has improved during the quarter ended in September 2020. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3kgl7...

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How Bandhan Bank plans to hold on to its title as the nation’s most profitable lender

Bandhan Bank, which received $1.4 billion from investors including BlackRock Inc. and Singapore’s GIC Pte in August, aims to maintain a 4% return on assets by diversifying. It plans to lend to less-risky sectors such as gold, as well as providing home and car loans. from Banking/Finance-Industry-Economic Times https://ift.tt/2IlqO...

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TCS to buy Deutsche Bank’s tech unit for 1 euro

Tata Consultancy Services (TCS), India’s second-most valued company, agreed to acquire the technology services unit of Deutsche Bank for one euro on Monday. The move will save about 9% of the 18,000 jobs placed in jeopardy by the German giant’s decision to restructure operations and restore profitability. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2ImaR...

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MobiKwik partners Amex for ‘MobiKwik Blue American Express Card’

Brings digital-only card experience to its young user base; marrying wallet to prepaid Card will improve offerings, says MobiKwik’s Upasana Taku from Business Line - Money & Banking https://ift.tt/3eL0Y...

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Abundant Caution: PSU banks make chunky provisions for a rainy day

Despite little clarity on asset quality, analysts are by and large satisfied with the kind of provisioning. “There are some grey areas, but banks have made provisions and investors will be willing to forgive them,” an analyst with a foreign brokerage said. from Banking & Finance – The Financial Express https://ift.tt/3eJOK...

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Rajeev Misra, three others resign as SoftBank internal board directors

“These initiatives are aimed at increasing the proportion of external board directors on the board, and separating the management decision-making function from the business execution function to clarify the persons responsible for business execution, the group said in a statement. from Banking & Finance – The Financial Express https://ift.tt/35cTM...

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Microfinance industry sees 31% rise in loan portfolio at Rs 2.36 lakh crore in FY20: Report

According to Sa-Dhan's 'Bharat Microfinance Report 2020', the industry's loan portfolio outstanding as on March 31, 2020, had stood at Rs 2,36,427 crore. The year-on-year growth of loan outstanding in 2019-20 was 31 per cent, which is substantially lower than the growth of 41 per cent in 2018-19. from Banking/Finance-Industry-Economic Times https://ift.tt/3kmGL...

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IRDAI sets up panel to revisit retail business of engineering tariff

"There is a need to modify the current products under the engineering retail segment in line with the changing needs and demand," it said in an order constituting the working group 'to revisit the engineering products (which are as per the erstwhile tariffs) for the retail segment'. from Banking/Finance-Industry-Economic Times https://ift.tt/2Ih4g...

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PMC depositors move Delhi HC, seek higher withdrawal limit for all emergencies

Forum GandhiDepositors of the scam-hit Punjab and Maharashtra Co-operative Bank (PMC Bank) have filed a plea with the Delhi High Court seeking higher from Business Line - Money & Banking https://ift.tt/2Uboj...

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HDFC cuts retail prime lending rate by 10bps

Home loans are set to get cheaper as mortgage financier Housing Development Finance Corporation Ltd has cut its Retail Prime Lending Rate by 10 basis from Business Line - Money & Banking https://ift.tt/2ImHq...

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Get the edge of Sharp Focus in a High conviction portfolio

from Banking/Finance-Industry-Economic Times https://ift.tt/2U6b8...

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‘General insurance business may reach pre-lockdown levels by mid-2021’

G Naga Sridhar The general insurance industry is likely to bounce back to pre-Covid19 levels by mid-to-late 2021, according to Anup Rau, Managing Dire from Business Line - Money & Banking https://ift.tt/3n7SL...

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Savita Singh quits LIC Housing Finance

Our BureauSavita Singh has tendered her resignation as an Independent Director of LIC Housing Finance Ltd (LICHFL) citing personal reasons.Singh is th from Business Line - Money & Banking https://ift.tt/2JHSQ...

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Concentration of MF equity investment worries investors

Top 10 market-cap companies have attracted 36 per cent of overall equity AUM of mutual funds from Business Line - Money & Banking https://ift.tt/35aS4...

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Banks await clarity from RBI on current account opening norms

The RBI circular is intended to enable lenders to have a better control on borrowers’ cash flows and monitoring the same from Business Line - Money & Banking https://ift.tt/3n7LK...

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L&T Finance Holdings gets approval to raise ₹3,000 cr via rights issue

L&T Finance Holdings on Monday said its board has approved raising of up to ₹3,000 crore through a rights issue.“The board approved the offer and from Business Line - Money & Banking https://ift.tt/35bOp...

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Bank of Maharashtra cuts repo-linked lending rate by 15 basis points to 6.90%

​​"Reduction in RLLR makes our home loan, car loan, gold loan, education loan, personal loan along with MSME loans more attractive and affordable," bank's executive director Hemant Tamta said. from Banking/Finance-Industry-Economic Times https://ift.tt/3k66D...

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BoI puts on hold branch expansion plan as customers prefer digital banking

Also, the bank mulls offering educational loans to students enrolling for online courses from reputable universities from Business Line - Money & Banking https://ift.tt/2U5lA...

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Karnataka Bank launches National Common Mobility Debit card

Karnataka Bank Ltd has launched National Common Mobility Debit Card.A press release by the bank said on Monday that this Rupay card is a contactless d from Business Line - Money & Banking https://ift.tt/2U9WW...

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UBS announces management changes in India

Uday Odedra appointed UBS Country Head India from Business Line - Money & Banking https://ift.tt/3p9pJ...

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Over 10 lakh terminals in the country accept Visa contactless cards

In a reflection of the increasing usage of contactless payment channels. Visa on Monday said that over 10 lakh terminals in India now accept Visa cont from Business Line - Money & Banking https://ift.tt/2JK9j...

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Airtel Payments Bank ties up with Bharti AXA General for car insurance

Airtel Payments Bank has partnered with Bharti AXA General Insurance to offer comprehensive car insurance to the payments bank’s customers.The Smart D from Business Line - Money & Banking https://ift.tt/36eR3...

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A DEEP INSIGHT TO SECURING YOUR RETIREMENT PLAN FROM MARKET FALL

from Banking/Finance-Industry-Economic Times https://ift.tt/3eGl5...

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Paytm aims to disburse ₹1,000 crore in loans by March 2021

Expands financial support to MSMEs through collateral-free loans from Business Line - Money & Banking https://ift.tt/35aQP...

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Banking sector stress expected to drop following collection boost, income improves in Q2

The sample's NII rose sequentially for the second consecutive quarter to Rs 1.3 lakh crore compared with Rs 1.2 lakh crore in the previous quarter. NII had fallen sequentially by 2% to Rs 1 lakh crore in the March quarter following a nationwide lockdown in the last week of March to curtail the spread of the Covid-19 pandemic. from Banking/Finance-Industry-Economic Times https://ift.tt/3eFTd...

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Less than half of ₹8,000-crore Covid claims filed so far have been settled

Insurers pin blame on ‘unreasonable’ claims and time lag for low settlement ratio from Business Line - Money & Banking https://ift.tt/38p8H...

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Indian Overseas Bank seeks about Rs 1,000 crore capital support from govt

Indian Overseas Bank (IOB) has sought a capital support of about ₹1,000 crore from the government in order to create buffer for any exigency, a top o from Business Line - Money & Banking https://ift.tt/3k5Hm...

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IRDAI issues exposure draft on compensating shareholder on merger of insurers

Under Section 37A (4A) of the Insurance Act, 1938, the shareholders and members whose rights have been adversely impacted by the scheme of amalgamation or merger would be entitled to compensation. from Banking/Finance-Industry-Economic Times https://ift.tt/2IdmL...

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Lakshmi Vilas Bank makes its stance clear to Clix group on Religare deposit case

The Reserve Bank of India had advised the bank to maintain provisions, on a prudential basis, to cover potential losses for the "claim against the bank not acknowledged as debt." In case of an adverse judgment, the bank needs to provide an additional Rs 594 crore. from Banking/Finance-Industry-Economic Times https://ift.tt/38otB...

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Closely monitoring inventory, asking builders to start selling as demand gains traction: PNB Housing

"When we talk to the builders and our sales team and people who are on the ground, who go and talk to the consumers and prospective borrowers, there are green shoots that we are seeing everywhere," MD and CEO Hardayal Prasad said. from Banking/Finance-Industry-Economic Times https://ift.tt/358W3...

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Indian Overseas Bank seeks about Rs 1,000 cr capital support from government

"We expect the trend to continue and book profit quarter after quarter aided by prospects of better recovery. There will be no question of going back," IOB Managing Director P P Sengupta told PTI. from Banking/Finance-Industry-Economic Times https://ift.tt/2JFEA...

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SIP - A GREAT INVESTMENT OPTION EVEN AMIDST THE MARKET TURMOIL

from Banking/Finance-Industry-Economic Times https://ift.tt/2I7u2...

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Fresh investment demand from corporates is some time away, says SBI Chairman Dinesh Kumar Khara

Capacity utilisation in the economy was somewhere around 69%, and expecting any fresh investment demand coming from the private corporates looked quite unlikely for some time to come, he pointed out. from Banking & Finance – The Financial Express https://ift.tt/3l8If...

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Made significant progress with Clix group, says Lakshmi Vilas Bank

Sources said the board did not take up the Clix issue at the meeting, as the two-member panel, mandated to hold negotiations on the merger modalities, had informed that the process was still on and will take some more time to reach a deal. from Banking & Finance – The Financial Express https://ift.tt/3kd6I...

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