RBI, CARE challenge Kolkata NCLT order on moratorium to Srei

Our Bureau The Reserve Bank of India (RBI) and CARE Ratings have challenged the Kolkata National Company Law Tribunal’s order which allowed Srei Equip from Business Line - Money & Banking https://ift.tt/3w2Ps...

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RBI says engaged with prospective investors to secure best terms for PMC Bank depositors

In September 2019, the RBI had superseded the board of PMC and placed it under regulatory restrictions, including cap on withdrawals by customers, after detection of certain financial irregularities and misreporting of loans given to real estate developer HDIL. from Banking/Finance-Industry-Economic Times https://ift.tt/3fj0n...

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Large banks not adhering to bulk SMSes norms, says TRAI

Sets March 31 deadline for full compliance from Business Line - Money & Banking https://ift.tt/3rjSu...

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RBI extends ‘directions’ against PMC Bank by 3 months

Our Bureau The Reserve Bank of India (RBI) has extended the validity period of its ‘directions’ against scam-hit Punjab and Maharashtra Cooperative ( from Business Line - Money & Banking https://ift.tt/3tWAQ...

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Financial services space set for disruption over next 10 yrs: K V Kamath

"Unless you internalise it's going to be a digital world...we will see a very quick evolution of this space in the next 10 years. It's not just bank but entire financial services space is set for disruption, not necessarily a negative way, it can be also in a positive way," the former president of New Development Bank said. from Banking/Finance-Industry-Economic Times https://ift.tt/3tXNl...

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Karnataka Bank and IIFL Securities launch ‘KBLSmart Trade’

  Karnataka Bank and IIFL Securities have introduced ‘KBLSmart Trade’, a facility in which all customers of Karnataka Bank can access IIFL Securities from Business Line - Money & Banking https://ift.tt/3tXea...

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Dr. Suresh Kumar Agarwal and CA Chandan Agarwal, Investors from Kolkata on why they are making changes in their portfolio

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

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IAMAI hails govt’s move on cryptocurrencies

Our BureauThe Blockchain and Crypto Assets Council (BACC) of the Internet and Mobile Association of India (IAMAI), on Friday, welcomed the government from Business Line - Money & Banking https://ift.tt/3lRG4...

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IBC threshold limit raise may leave some creditors stranded

‘Either reduce limit or restore Companies Act clauses’ from Business Line - Money & Banking https://ift.tt/3u9qx...

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Former RBI deputy Governor KC Chakrabarty passed away

Former Reserve Bank of India (RBI) Deputy Governor (DG) KC Chakrabarty passed away in Mumbai on Friday due to a heart attack. He was 69. An outspoken from Business Line - Money & Banking https://ift.tt/3ffC8...

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Auction closes for 1.28 lakh sq mt Mumbai commercial complex; Canara Bank seeks to recover Rs 385 cr

State-run lender Canara Bank has received bids for sale of Supreme Business Park -- a 1.28 lakh sq meter commercial property with a built-up area of over 6.9 lakh sq feet in Powai, Mumbai. from Banking & Finance – The Financial Express https://ift.tt/3tWxx...

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Chennai-based NBFC Five Star Business Finance Limited raises ₹1700 crore

The investment will be made through a combination of primary infusion and secondary shares sales by existing investor Morgan Stanley Private Equity from Business Line - Money & Banking https://ift.tt/31oI4...

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Fintech will be the silver bullet for growth in 2021

Covid-19 pandemic has accelerated the move from storefronts to e-commerce by five years from Business Line - Money & Banking https://ift.tt/31kkF...

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BharatPe launches instant liquidity facility for SME

The loan is available at a low interest rate, with zero processing fees and involves minimal paperwork from Business Line - Money & Banking https://ift.tt/3lUn3...

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Passive Funds – Investment vehicle to take market exposure!

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

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Equitas SFB renews partnership with CSK for IPL 2021

Equitas Small Finance Bank has renewed its partnership with Chennai Super Kings (CSK) for the upcoming IPL season 2021. from Banking & Finance – The Financial Express https://ift.tt/3cjUg...

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PSB privatisation: RBI foresees four kinds of banks, in talks with govt

The question of public sector bank (PSB) privatisation is constantly under discussion between the central government and the RBI, Das said. from Banking & Finance – The Financial Express https://ift.tt/3feFu...

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LIC Housing Fin to waive off 6 EMIs under ‘Griha Varishtha’

The EMI waiver will be offered against the 37th, 38th, 73rd, 74th, 121st and 122nd EMIs when they become due, and adjusted against the outstanding principal, LIC Housing Finance said. from Banking & Finance – The Financial Express https://ift.tt/3cojl...

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‘Our credit cost will be restricted around 2.5%’

The demand has been quite good, though there was a slowdown in January. It picked up in the second half of February and March is being quite good. from Banking & Finance – The Financial Express https://ift.tt/2PaL6...

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Punjab & Sind Bank declares IL&FS account as fraud with Rs 399 crore outstanding

The NPA account Infrastructure Leasing & Financial Services Ltd (IL&FS) with outstanding dues of Rs 399.31 crore has been declared as fraud, the bank said in a regulatory filing. from Banking/Finance-Industry-Economic Times https://ift.tt/3lPIe...

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Bank of Maharashtra add six more branches

Out of these six branches, which are in Kolkata Zone, one branch is in Port Blair and other five are in West Bengal, BoM said in a statement. It will enhance customer experience with the bank's innovative digital banking solution, it said. from Banking/Finance-Industry-Economic Times https://ift.tt/3vYCT...

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Moody’s withdraws ratings of Indian Overseas Bank

PSU lender Indian Overseas Bank (IOB) said it requested Moody’s investor service in February to withdraw ratings as it has no fund raise plans throug from Business Line - Money & Banking https://ift.tt/2NSXl...

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Bank of Maharashtra adds more branches

Our Bureau Bank of Maharashtra (BoM), on Thursday, opened five branches in West Bengal and one branch on Andaman & Nicobar. In West Bengal, the pu from Business Line - Money & Banking https://ift.tt/3ffSX...

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WhatsApp Pay: Why Facebook-owned messaging service hasn’t exploded yet in its biggest market India

In April 2020, Facebook had picked up a 9.99 per cent stake in Jio Platforms at $5.7 billion. During a company event in December 2020, Facebook's Mark Zuckerberg had revealed that WhatsApp has 15 million business app users from India. from Banking & Finance – The Financial Express https://ift.tt/3fcYl...

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Special liquidity operations: Government Security prices rise

Our BureauGovernment Security (G-Sec) prices rose on Thursday in the backdrop of the Reserve Bank of India’s announcement that it will conduct special from Business Line - Money & Banking https://ift.tt/3tSmF...

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RBI to conduct ‘fine tuning’ repo auctions on March 26 and 31

The Reserve Bank of India (RBI), on Thursday, said it will conduct ‘fine-tuning’ variable rate repo auctions on March 26 and March 31for ₹25,000 crore from Business Line - Money & Banking https://ift.tt/3szjB...

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JICA signs ¥10-b loan agreement with TCCL

To support TCCL in offering loans to businesses that focus on renewable energy generation from Business Line - Money & Banking https://ift.tt/39fkP...

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India will have heterogeneous banking sector in a decade with four types of banks: Shaktikanta Das

The comments come days after the RBI appointed a panel headed by former deputy governor Shyamala Gopinath on bank licences to evaluate applications for universal banks and small finance banks. An internal panel had recently recommended allowing deep-pocketed corporates into the banking fray, something the RBI had been averse to for long. from Banking/Finance-Industry-Economic Times https://ift.tt/2P4We...

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RBI has major concerns on cryptocurrencies, flagged it to govt: Das

Since there are not many ‘practical instances’ of operationalisation of a CBDC globally, it calls for ‘utmost precaution’ before India goes ahead: Shaktikanta Das said from Business Line - Money & Banking https://ift.tt/31gZl...

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Shaktikanta Das: No difference of opinion between RBI and government on cryptocurrencies

Shaktikanta Das said that the RBI has flagged some major concerns to the government on cryptocurrencies. However, “it is still under examination, the government will come out with a decision on it.” from Banking & Finance – The Financial Express https://ift.tt/3vRc4...

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ICICI-Videocon PMLA case: HC grants bail to Deepak Kochhar

Kocchar had approached high court after a special court in the city rejected his bail in December last year from Business Line - Money & Banking https://ift.tt/31jbI...

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Parliament passes bill to set up National Bank for Financing Infrastructure and Development

The Rajya Sabha passed the National Bank for Financing Infrastructure and Development (NaBFID) Bill 2021 by voice vote on Thursday. from Banking/Finance-Industry-Economic Times https://ift.tt/3ck9W...

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Economic activity to continue unabated: RBI Governor

Shaktikanta Das says next year’s estimated growth rate of 10.5% would not require a downward revision from Business Line - Money & Banking https://ift.tt/3rrfg...

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SEBI orders attachment of Rana Kapoor’s assets to recover ₹1-cr dues

YES Bank founder was penalised for not making disclosures about a transaction of Morgan Credit, an unlisted promoter entity of YES Bank; Kapoor had created an opaque layer between him and stakeholders, violating LODR provisions from Business Line - Money & Banking https://ift.tt/3fakz...

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Ensuring health of banking sector top priority: Shaktikanta Das at India Economic Conclave 2021

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

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View: Good mandate, unintended repercussions

Considering the pandemic and lockdown did not give much of a breather to any industry and the banking and financial sector was no exception, such elaborate security and transparency requirements could not be put in place. So, the deadline of 1st April will certainly unleash disruption on unsuspecting customers and businesses. from Banking/Finance-Industry-Economic Times https://ift.tt/3ck7g...

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Mumbai: PMC account holders stage protest in Bhandup

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

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IRDAI allows sale of short term Covid insurance policies till September 30

In the wake of surging new cases of Covid-19 pandemic, the insurance regulator has permitted all life, general, and standalone health insurers to sel from Business Line - Money & Banking https://ift.tt/3vQ4V...

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Former RBI deputy governor Khan not seeking re-appointment on Bandhan Bank board

Khan, in a letter dated March 24, 2021, has informed the bank that due to his other pre-occupations and priorities, it would not be possible for him to continue as an independent director beyond the current term, the private sector lender said. from Banking/Finance-Industry-Economic Times https://ift.tt/39c9a...

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G-Sec prices a tad lower

Government Security (G-Sec) prices came down a tad on Wednesday due to profit booking after the previous day’s smart rally. Price of the 10-year bench from Business Line - Money & Banking https://ift.tt/3fb4Y...

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NBFCs want govt to refund interest on deposits

TT Srinivasaraghavan of Sundaram Finance also said the system-wide impact is very minimal only but they are yet to assess it fully well. from Banking/Finance-Industry-Economic Times https://ift.tt/3fehQ...

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Sebi orders attachment of bank, demat, MF accounts of Rana Kapoor

Sebi, in September 2020, had levied a fine of Rs 1 crore on Kapoor for not making disclosures regarding a transaction of Morgan Credit, which was an unlisted promoter entity of Yes Bank. from Banking/Finance-Industry-Economic Times https://ift.tt/39ag5...

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Canara Bank to sell 2,000 properties via e-auction on March 26

Our Bureau Canara Bank will conduct a mega e-auction on March 26 to sell around 2,000 properties under its possession under the Securitisation and Rec from Business Line - Money & Banking https://ift.tt/31b8v...

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Perpetual bond tweak: Small banks may still face challenges in issuances

Mid- and small-sized banks could face some challenges in the issuance of AT-1 bonds as these could see poor appetite from investors despite the relief from Business Line - Money & Banking https://ift.tt/3rqUd...

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‘NBFCs have made adequate provisions, do not expect a quantum jump in bad loans’

Non-banking financial companies (NBFCs) have already made provisions for non-performing assets and do not expect a sharp spike in bad loans following from Business Line - Money & Banking https://ift.tt/3shVf...

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Only subscribers of GPF, dedicated pension funds eligible for ₹5 lakh limit

The amendment proposed by Finance Minister Nirmala Sitharaman to the Budget provision related to capping of employee provident fund contribution for t from Business Line - Money & Banking https://ift.tt/3tV7o...

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Karnataka Bank appoints DS Ravindran as additional director

Karnataka Bank Ltd appointed DS Ravindran as Additional Director (non-executive, independent) at its board meeting held on March 24. His appointment from Business Line - Money & Banking https://ift.tt/3f73n...

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New RBI norms: Uni-State UCBs can convert to multi-State UCBs via amalgamation

 A uni-State Urban Co-operative Bank (UCB) can metamorphose into a multi-State UCB through amalgamation with a uni-State bank registered in another St from Business Line - Money & Banking https://ift.tt/39beo...

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ICICI Bank enables customers to break high-value transactions into EMIs

Customers can purchase gadgets or pay for their insurance premium or school fees in easy EMIs from their savings account using the internet banking platform, bank said. from Banking/Finance-Industry-Economic Times https://ift.tt/3lNyM...

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Privatising two PSBs: India Ratings warns of rating impact if govt cedes control

Factoring in timely intervention from the government and minimal probability of default, the agency said it has a rating floor of 'IND AA-' for senior instruments and Tier 2 instruments of banks, which are majority-owned by the government. from Banking/Finance-Industry-Economic Times https://ift.tt/3siCv...

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Privatisation of 2 PSBs could lead to negative migration of their ratings: Ind-Ra

The Budget proposal to privatise two public sector banks (PSBs) could lead to material negative migration of the long-term issuer ratings and the rati from Business Line - Money & Banking https://ift.tt/2P3DM...

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Govt may seek details of interest on interest charged by banks

Sources said that the government wants to collect individual bank data to assess the total liability on the sector to reimburse interest on interest collected on loan exposure over Rs 2 crore for the period between March-August 2020. from Banking/Finance-Industry-Economic Times https://ift.tt/39bdZ...

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Banks closed for 7 days out of 9 from March 27; check full list of holidays during Mar 27-Apr 4

All banks in India will remain closed for three days in a row during March 27-29, including the two-day weekend and the Holi festival. from Banking & Finance – The Financial Express https://ift.tt/3d0JH...

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Indian Overseas Bank launches ‘IOB Trendy’ savings account for millennials

Indian Overseas Bank (IOB) on Wednesday launched ‘IOB Trendy’, a savings account customised for the growing millennial population in the country by ke from Business Line - Money & Banking https://ift.tt/3w3dy...

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Can Fin Homes' CEO has aggressive growth plans for next couple of years

" In Q3 last year, we did extremely well, Q4 was pretty good. Due to Covid-induced lockdown the next two quarters were quite muted and again from Q3 -this year onwards -growth started showing up and Q4 is going to be very good. On a steady state, we should be able to grow at about 17-18%," Girish Kousgi, MD & CEO Can Fin Homes from Banking/Finance-Industry-Economic Times https://ift.tt/3tQ1v...

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ICICI Bank launches instant EMI facility on net banking for high value transactions

Private sector lender ICICI Bank has launched an instant EMI facility on its internet banking platform.Called ‘EMI @ Internet Banking’, the facility from Business Line - Money & Banking https://ift.tt/3shYR...

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Removal of bad debt ‘hangover’ to lend clarity to banks’ earnings, growth

Uncertainty on who will foot bill following top court's ruling that banks won’t be able to charge borrowers for additional interest on loans incurred during moratorium from Business Line - Money & Banking https://ift.tt/3sjB2...

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Removal of bad debt ‘hangover’ hands Indian banks clarity

The top five lenders State Bank of India, HDFC Bank, Bank of Baroda, ICICI Bank, Punjab National Bank who hold about half of the $1.8 trillion financial sector’s loans will have to refund $500 million while the rest will mainly be spread among more than 50 local banks and shadow lenders. Still, this is a small amount compared with their combined annual operating profit of more than $28 billion, according to ICRA’s Gupta. from Banking/Finance-Industry-Economic Times https://ift.tt/2OU2C...

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South Indian Bank gets nod to raise Rs 240 crore

The lender said that up to 28,30,18,867 equity shares of face value of Rs 1 each at an issue price of Rs 8.48 each will be issued to the insurance companies. from Banking & Finance – The Financial Express https://ift.tt/3skCL...

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FE CFO Awards 2020: India’s UPI is better for transactions than cryptocurrency

While the US and Chinese digital economies have been centred around data monopolies, India's digital infrastructure has laid the railroads for democratisation of services, he said. from Banking & Finance – The Financial Express https://ift.tt/3rgzI...

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Bankers welcome SC order but brace for hit on reversal of interest

Although the Supreme Court (SC) has rejected petitions for a complete waiver of interest and extension of moratorium until the end of FY21, banks may have to refund or adjust the interest charged on a compounded basis and move to simple interest calculations between March and August 2020. from Banking/Finance-Industry-Economic Times https://ift.tt/3re3K...

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‘Now, customer’s NPA status will be recorded everywhere’

A customer who defaults will find his rating impacted and banks may start normal recovery action, says UBI chief from Business Line - Money & Banking https://ift.tt/3tMk8...

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‘SC verdict will ensure the economy continues its course to normalcy’

Banking stocks gained on Tuesday soon after the Supreme Court pronounced its verdict on loan moratorium. Bank Nifty was up 1.73 per cent. Indusind Ban from Business Line - Money & Banking https://ift.tt/2OYrR...

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CA Institute approves revised networking guidelines for firms

To approach RBI, CAG to recognise “networks” from Business Line - Money & Banking https://ift.tt/398QF...

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South Indian Bank gets shareholders' nod for ₹240-cr preferential allotment to QIPs

Private sector South Indian Bank said shareholders of the bank on Tuesday approved raising equity capital of ₹240 crore through qualified instituti from Business Line - Money & Banking https://ift.tt/393pc...

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Award for Esaf Small Finance Bank

Our Bureau Esaf Small Finance Bank has been awarded ‘Great Place to Work’ certification by the Great Place to Work Institute. The certification is the from Business Line - Money & Banking https://ift.tt/3lION...

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SC ruling on loan moratorium case a ‘mixed bag’ for borrowers, lenders

Widely hailed by industry, legal fraternity; public sector banks not entirely enthused from Business Line - Money & Banking https://ift.tt/3cY23...

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Easing of valuation rule for perpetual bonds to help in avoiding panic redemption, feel experts

This would provide a breather to the mutual fund industry from Business Line - Money & Banking https://ift.tt/3cdEo...

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PSB privatisation: UFBU warns of more strikes

The United Forum of Bank Unions (UFBU) has decided to undertake further preparatory programmes to go for intermittent strikes, prolonged strikes, and from Business Line - Money & Banking https://ift.tt/3lFll...

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Banks' NPAs declined to Rs 5.70 lakh crore at December-end: Anurag Singh Thakur

"There has been a reduction in gross NPAs. The NPAs - which stood at Rs 8.96 lakh crore in 2018 - has reduced to Rs 5.70 lakh crore in December 2020. Recovery of Rs 2.74 lakh crore was also made," Thakur said while replying to a supplementary question in the Upper House. from Banking/Finance-Industry-Economic Times https://ift.tt/3vQSh...

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PAG invests ₹2,366 crore in Edelweiss Wealth Management

Will work towards demerger, eventual listing of the business from Business Line - Money & Banking https://ift.tt/393V4...

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Loan moratorium: SC orders full waiver of interest on interest

Govt may have to provide relief of about ₹7,000-7,500 cr to borrowers having loan exposure of over ₹2 cr: ICRA from Business Line - Money & Banking https://ift.tt/3d4Ql...

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DK Mittal has two suggestions for RBI to improve banking sector

"RBI should consider giving banks longer time, maybe a time of maybe 180 to 270 days to declare NPAs because the fact still remains that Covid is not over, "--DK Mittal, Former Banking Secretary. from Banking/Finance-Industry-Economic Times https://ift.tt/3lIiS...

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Notify health policy for rare diseases by March 31, HC asks Centre; directs setting up of R&D body

The court said the Policy shall be placed before it and the petitioners shall make a representation to the Committee for further processes in terms of the directions and listed the matter for further hearing on April 19. from Banking/Finance-Industry-Economic Times https://ift.tt/3f6eY...

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Sense has prevailed, moratorium is a commercial decision that banks should take: Uday Kotak

In its awaited ruling, the SC denied to interfere with the Centre's and Reserve Bank of India's (RBI) decision to not extend the loan moratorium beyond August 31, 2020. The apex court said it is a policy decision. However, it directed that no compound or penal interest shall be charged from borrowers for the six-month loan moratorium period. from Banking/Finance-Industry-Economic Times https://ift.tt/3ri02...

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Digital lenders on fund raising spree

Analysts believe sector set to grow further from Business Line - Money & Banking https://ift.tt/3d2NV...

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SC Verdict: Additional relief of about ₹7,000 crore to borrowers may have to be given

The Centre may have to allocate an additional ₹7,000 crore as relief to borrowers following the Supreme Court verdict on loan moratorium on Tuesday, a from Business Line - Money & Banking https://ift.tt/3shsl...

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No compound interest on loan, irrespective of amount, during moratorium, rules SC

Extending the date of the loan moratorium "not viable", says the apex court from Business Line - Money & Banking https://ift.tt/3c9RM...

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Supreme Court pronounces verdict on plea seeking extension of loan moratorium

Supreme Court pronounces verdict on plea seeking extension of loan moratorium from Banking/Finance-Industry-Economic Times https://ift.tt/2P2kP...

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SC order a big relief, removes uncertainties: Bankers

A three judge bench of justice Ashok Bhushan, R Subhash Reddy and MR Shah while rejecting a further extension beyond August 31 said there cannot be a complete waiver of interest during the period. from Banking/Finance-Industry-Economic Times https://ift.tt/3ch1y...

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No interest on interest lockdown loan moratorium, rules SC; refuses to extend relief

The Supreme Court further directed banks to credit or adjust the amount already charged by them from borrowers. from Banking & Finance – The Financial Express https://ift.tt/31bSu...

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Interest waiver not possible, can't allow extension of loan moratorium period, says SC

from Banking/Finance-Industry-Economic Times https://ift.tt/319rA...

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Can't allow extension of loan moratorium period, says SC; waiver of interest not possible

The SC said no direction can be issued to the govt or RBI to announce any particular financial packages or reliefs, and held that it cannot issue directions to provide relief to particular sectors over and above others. from Banking/Finance-Industry-Economic Times https://ift.tt/3seSW...

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‘RuPay’s market share by volumes is 34%’

E-commerce is a very significant driver, but we are also seeing a lot of other interesting categories emerge. For example, we now have some of the bus transport corporations going live on UPI. from Banking & Finance – The Financial Express https://ift.tt/2Qxd5...

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Digital wallets emerge second-most popular in-store payment method

Debit cards and credit cards had a share of 20% and 12%, respectively. The report projected that digital wallets would overtake cash as the most popular in-store payment method by 2024, accounting for 33% of payments. from Banking & Finance – The Financial Express https://ift.tt/3lEiu...

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Muthoot Fincorp looks to close fiscal with 28% loan growth

The group also known as Muthoot Blue has four NBFCs -- Muthoot Fincorp which is into gold loans, Muthoot Capital, its listed entity which is into two-wheeler and used car loans, Muthoot Microfin, and Muthoot Housing Finance. from Banking/Finance-Industry-Economic Times https://ift.tt/3d0pg...

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Relief for MFs: SEBI eases norms on perpetual bonds

Life span of bonds to increase over years from Business Line - Money & Banking https://ift.tt/3cVCP...

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Edelweiss raises Rs 2,400 cr from Pacific Alliance Group

“With all regulatory approvals the investment has come into the Edelweiss Group,” said a senior executive familiar with the matter. This investment will help in scaling up the Wealth franchisee and will also aid in funding other growing businesses including Alternatives, Asset Reconstruction, Life & General insurance, mutual funds & retail lending. from Banking/Finance-Industry-Economic Times https://ift.tt/3scWO...

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RBI appoints panel for new universal bank & SFB licences

The applications for universal banks and SFBs will be initially screened by the RBI to ensure prima facie eligibility of the applicants. Thereafter, the committee will evaluate the applications, RBI said. A universal bank is a bank that offers retail, wholesale and investment banking services under one roof. from Banking & Finance – The Financial Express https://ift.tt/313T4...

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Paytm payment gateway registers 750m monthly transactions, surpasses pre-Covid level, says company

Adoption of payment instruments issued by Paytm Payments Bank, including Paytm Wallet and Paytm UPI contributed about 60 per cent to the total transactions registered on the gateway. from Banking & Finance – The Financial Express https://ift.tt/3lEJM...

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Govt to cancel last G-Sec auction of FY21

Our Bureau The government has decided to cancel the last weekly Government Securities (G-Secs) auction of FY21, aggregating ₹20,000 crore. This could from Business Line - Money & Banking https://ift.tt/3saB6...

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Hinduja Group launches new Berryllus Capital wealth advisory joint venture

The new JV with NASDAQ-listed Focus Financial Partners Inc, a leading partnership of independent, fiduciary wealth management firms, is dubbed a multi-family office that will cater to some of the most prominent families in the world through offices in London, Geneva and Singapore. from Banking/Finance-Industry-Economic Times https://ift.tt/2Pi11...

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RBI imposes ₹15-lakh penalty on Fedfina

Our Bureau The Reserve Bank of India (RBI) has imposed a monetary penalty of ₹15 lakh on Fedbank Financial Services Ltd (Fedfina), Mumbai, for non-com from Business Line - Money & Banking https://ift.tt/3rbuE...

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Focus Financial, Hindujas join hands to launch Beryllus Capital

Focus Financial Partners Inc, a leading wealth management firm, announced on Monday that it has launched Beryllus Capital in a joint venture with the from Business Line - Money & Banking https://ift.tt/3vZfE...

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Dvara KGFS raises 8 million euros as External Commercial Borrowings (ECB)

The company intends to deploy the ECB proceeds for their onward lending program targeted to support their microfinance as well as small business customers in more than 9000 deep rural villages with little or no access to formal means of credit. from Banking/Finance-Industry-Economic Times https://ift.tt/3944A...

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RBI sets up 5-member panel for evaluating applications for universal, SFBs

Our Bureau The Reserve Bank of India (RBI) has set up a five-member committee, headed by former Deputy Governor Shyamala Gopinath, for evaluating app from Business Line - Money & Banking https://ift.tt/3c7i4...

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Moody’s affirms IndusInd Bank’s ratings, revises outlook to ‘stable’

Our Bureau Mumbai, March 22Moody’s Investor Service has affirmed the long-term local and foreign currency deposit ratings of IndusInd Bank at ‘Ba1’ an from Business Line - Money & Banking https://ift.tt/3175z...

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FM Nirmala Sitharaman introduces DFI Bill in Lok Sabha

Dedicated institution will give financial aid to infra projects in India, partly in India and partly outside country from Business Line - Money & Banking https://ift.tt/3lBdp...

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True Balance raises $10 million in debt funding for its NBFC True Credits

Fintech app True Balance on Monday announced that it has raised $10 million in debt funding from a group of investors. “The investment has come from N from Business Line - Money & Banking https://ift.tt/39lFL...

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Dvara KGFS raises €8 million via ECB

Dvara KGFS, a Chennai-based non-banking finance company, on Monday announced that it had raised €8 Million from leading European social impact funds, from Business Line - Money & Banking https://ift.tt/3lDH8...

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Parliament passes Insurance Bill to hike FDI limit to 74 per cent

Move will strengthen insurance sector; should not be seen as govt selling the family silver: Finance Minister from Business Line - Money & Banking https://ift.tt/3lBEm...

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CRISIL upgrades Muthoot FinCorp’s rating to A+

CRISIL has upgraded its rating of Muthoot FinCorp Ltd from ‘ A’ (Stable) to ‘A+ (Stable)’. The CRISIL rating upgrade underscores a high degree of saf from Business Line - Money & Banking https://ift.tt/3sdVR...

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After reaching pre-Covid levels, we will now focus on surpassing industry growth: SBI Cards Boss

Given the kind of low penetration of credit card in India, we work on multiple levers. We are leading player in open market acquisition space. We have our people present in all the premium malls, airports, commercial spaces to source applications. We do have a very profitable partnership with SBI to tap customer base, said Rama Mohan Rao Amara. from Banking/Finance-Industry-Economic Times https://ift.tt/3r7Av...

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RBI may buy out Centre’s 51% stake in CERSAI

The Central Registry was set up in 2011 to prevent frauds in loan cases involving multiple lending from different banks on the same immovable property from Business Line - Money & Banking https://ift.tt/3lOHO...

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‘Current financial year turning out to be much better in terms of overall investment returns’

The current fiscal is turning out to be much better than what was expected at the beginning of the year in terms of overall investment returns, believ from Business Line - Money & Banking https://ift.tt/3tABV...

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Piramal Capital and Housing Finance raises ₹4,050 crore through NCDs

Piramal Capital and Housing Finance Ltd (PCHFL), a wholly owned subsidiary of Piramal Enterprises Limited (PEL), has raised ₹4,050 crore through issu from Business Line - Money & Banking https://ift.tt/315td...

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‘Be more transparent in health insurance claims settlement’

Insurance sector regulator Irdai has asked all insurers to be more transparent in their health insurance claim settlement process and apprise the po from Business Line - Money & Banking https://ift.tt/2NByQ...

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Digital lending: Government blocks 27 fraud lending apps offering instant credit online

The Reserve Bank of India had constituted a Working Group on January 13, 2021, to study all aspects of digital lending activities including lending through online platforms and mobile apps by RBI regulated and unregulated entities. from Banking & Finance – The Financial Express https://ift.tt/3lIYM...

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Digital payments to skyrocket 3X to over Rs 7,000 lakh cr by FY25; mobile payments to see highest growth

The digital payments market, which has been led by companies such as Paytm, PhonePe, Pine Labs, Razorpay, BharatPe, and others on both B2C and B2B sides, has surged expeditiously with businesses offering cash backs, rewards, and offers to woo customers. from Banking & Finance – The Financial Express https://ift.tt/3tE4s...

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Irdai asks insures to be more transparent in health insurance claims settlement, specify reasons of denial

"All the insurers shall ensure putting in place systems to enable policyholders track the status of cashless requests/claims filed with the insurer/TPA through the website/portal/app or any other authorised electronic means on an ongoing basis. "The status shall cover from the time of receipt of request to the time of disposal of the claim along with the decision thereon," said the regulator. from Banking/Finance-Industry-Economic Times https://ift.tt/3f2jn...

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Post exit from PCA framework, IDBI Bank to focus on improving efficiency ratios, says MD

"With restrictions imposed by RBI gone, we will like to go in a calibrated way and grow the business in a more profitable fashion so that my efficiency ratios improve. Our revenue, profitability and other ratios will certainly show improvement," Sharma told in an interaction. from Banking/Finance-Industry-Economic Times https://ift.tt/3lyGK...

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