SBI hikes minimum interest rate on home loans by 25 bps to 6.95%

 In a clear signal that soft interest cycle for home loan borrowers is over, State Bank of India (SBI) has hiked the minimum interest rate on home loa from Business Line - Money & Banking https://ift.tt/39EKx...

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Individual loan business continues to improve in Jan-Mar: HDFC

"During the quarter, pursuant to the buyback option embedded in the home loan arrangement between the Corporation and HDFC Bank, the Corporation assigned loans to the bank amounting to Rs 7,503 crore," HDFC said in a regulatory filing. from Banking/Finance-Industry-Economic Times https://ift.tt/3ujUq...

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Digital payments: India pips China, US, others in 2020; leads global tally with this many transactions

India’s digital payments market led by Paytm, PhonePe, Pine Labs, Razorpay, BharatPe, and others has surged during the pandemic even as incentives such as cash backs, rewards, and offers have helped businesses to attract more customers. from Banking & Finance – The Financial Express https://ift.tt/39FBu...

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Covid-19 surge derails banks’ plans to get back to HQs

Bank corporate offices are getting back to a work-from-home mode (WFH) with a skeletal staff attending office, given the resurgence of Covid in Mumbai where most of them are headquartered. from Banking/Finance-Industry-Economic Times https://ift.tt/3uhMs...

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PSU banks go slow on asset sales, await privatisation list

Public sector banks that were not part of the consolidation process are going slow on their plans to monetise assets as part of their capital-raising efforts. These banks have decided to wait and see whether they are candidates for the government’s privatisation plan before initiating any stake sale. from Banking/Finance-Industry-Economic Times https://ift.tt/2PnOy...

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India a key market, our numbers here speak for themselves: Surendra Rosha, CEO, HSBC India

India is a key component of the HSBC Group’s growth story. In the Group’s annual financial results announced recently, HSBC India recorded a PBT of over $1 billion, that too in a challenging year. from Banking & Finance – The Financial Express https://ift.tt/3uiLz...

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Hope to grow our loan book by 35-40% over next 3-4 years: Rajeev Yadav, MD & CEO, Fintech Small Finance Bank

The regulator has various rules for different products. Right now, our capital adequacy is of the order of 27-28% (of which nearly 95% is tier-I), although the minimum requirement is only 15%. from Banking & Finance – The Financial Express https://ift.tt/3uiVN...

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CSB Bank’s gold loan portfolio slowed down, overall business picked up in Q4

The lender has reported that its deposits stand at Rs 19,140 crore as on March 31, 2021, while CASA stands at Rs 6,161.80 crore and term deposits at Rs 12,978.24 crore. from Banking & Finance – The Financial Express https://ift.tt/3sMTM...

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Karnataka Bank targets over Rs 1.42 lakh cr business turnover in FY22; says digital the way forward

Even before the COVID-19 outbreak, the Indian banking industry had been undergoing a paradigm shift from traditional ways of banking with digital technology powering this change, its Managing Director and CEO Mahabaleshwara M S said. from Banking/Finance-Industry-Economic Times https://ift.tt/3dxCm...

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Non-banking finance cos seek easier rules for cancelling NACH mandates

NACH facilitates high volume, electronic transactions that are repetitive in nature from Business Line - Money & Banking https://ift.tt/3sPoG...

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PNB plans to hire non-judicial member to scrutinise proposals on compromise, write off

"Punjab National Bank, one of the leading public sector bank in India having its corporate office in Dwarka, New Delhi, invites Expression of Interest from professional/ retired personnel based in or around Delhi, for honorary positions (One Non- Judicial member)," it said in a notice. from Banking/Finance-Industry-Economic Times https://ift.tt/2Oeg9...

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Piramal Enterprises appoints Khushru Jijina as executive director, Financial Services

Piramal Capital is the financial services arm of the Piramal Enterprises set up in 2010, Piramal Enterprises said in a statement. from Banking/Finance-Industry-Economic Times https://ift.tt/39xcf...

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UPI transactions rise rose 19% month-on-month to hit Rs 5.05 lakh crore in March

In the early years of its growth, UPI was growing largely on the back of peer-to-peer (P2P) payments, with the P2M piece accounting for 20-30%. from Banking & Finance – The Financial Express https://ift.tt/3mdVg...

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Volatility not for us, ours is a model of steady growth: TT Srinivasaraghavan, former MD, Sundaram Finance

There is aversion to lending to NBFCs every time there is a problem in the financial market, though, if you look at the track record of the smaller NBFCs, there has been virtually no failure in a long time. from Banking & Finance – The Financial Express https://ift.tt/2Pk2O...

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Growth, earnings, asset quality to be top priorities for Indian Bank

Padmaja Chunduru, MD & CEO, Indian Bank, said the bank’s primary focus will be on customer service and satisfaction from Banking & Finance – The Financial Express https://ift.tt/3mo2Y...

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UPI transactions cross ₹5 lakh crore in March

Unified Payments Interface (UPI), the flagship digital payment platform, touched a new high in March and crossed the ₹5 lakh crore mark in terms of va from Business Line - Money & Banking https://ift.tt/3sIXD...

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PhonePe logs $388bn in annual TPV run rate, crosses 1-bn UPI transactions in March

Fintech major PhonePe on Thursday said it has hit an annual total payment value (TPV) run rate of USD 388 billion dollars in March this year. from Banking & Finance – The Financial Express https://ift.tt/31Dlv...

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IL&FS completes stake sale in China road asset to Pingan

The stake is sold to China Merchants and Pingan Infrastructure Phase 1 Equity Investment Fund (Tianjin) Co Ltd, a fund jointly owned by Pingan Insurance and China Merchants. from Banking/Finance-Industry-Economic Times https://ift.tt/3cGyB...

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India Inc's credit quality improves sharply in H2FY21, likely to sustain

"From an outlook perspective, credit quality will sustain in the next fiscal because of the fiscal policies in the budget, unlocking which is underway," its managing director Gurpreet Chhatwal told reporters. from Banking/Finance-Industry-Economic Times https://ift.tt/39yKx...

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UCO Bank to consider raising ₹2,600 crore through preferential issue

The board of UCO Bank will consider issuance of equity shares against capital infusion of ₹2,600 crore from the central government. “The proposal for from Business Line - Money & Banking https://ift.tt/3sJff...

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Indian Bank-Allahabad Bank amalgamation most challenging, yet most satisfying: Indian Bank MD and CEO

Chennai-headquartered Indian Bank has been reporting better performance than its peers amid the pandemic situation. Growth is steady and its asset qua from Business Line - Money & Banking https://ift.tt/3dr1Q...

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BHIM UPI transactions more than double to 273 crore in March

The value of UPI transactions during the month stood at Rs 5,04,886 crore against that of Rs 2,06,462 crore in the year-ago month. from Banking/Finance-Industry-Economic Times https://ift.tt/3rGyr...

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NPCI sets up subsidiary NPCI Bharat BillPay

National Payments Corporation of India (NPCI) on Thursday announced the formation of its wholly-owned subsidiary firm - NPCI Bharat BillPay Ltd. (NBBL from Business Line - Money & Banking https://ift.tt/39yAw...

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Paytm Money opens technology development centre in Pune

Plans to hire over 250 front-end, back-end engineers and data scientists to build new wealth products and services from Business Line - Money & Banking https://ift.tt/3cDnE...

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Yes Bank loan fraud: ED files charge sheet against Mumbai realty firm owners, others

The charge sheet names chairman of Omkar Realtors and Developers Kamal Kishore Gupta, its managing director Babulal Varma, actor-producer Sachin Joshi (also the promoter of Viiking Group) and their companies. from Banking/Finance-Industry-Economic Times https://ift.tt/3cHOw...

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State Bank of India customers face network glitches for online transactions

Several customers took to social media to vent their frustration. While few customers claimed that they were unable to receive payments, others claimed that transactions were failing while transferring money using the Unified Payments Interface (UPI). from Banking/Finance-Industry-Economic Times https://ift.tt/31EPi...

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Loans to mid-size Indian firms up most in a decade on cash surge

“Banks are keen to lend given the abundant liquidity,” said Avneesh Sukhija, an analyst at BNP Paribas. That along with emergency credit lines and an overall recovery in the economy is giving banks the confidence to lend to this sector, Sukhija said. from Banking/Finance-Industry-Economic Times https://ift.tt/3cKU5...

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Bank credit to grow 10% in FY22 on faster GDP expansion, policy measures: Crisil

The GDP growth is expected to stand at 11 per cent for the newly begun fiscal year, after a 7.7 per cent contraction in the pandemic-impacted 2020-21, it said. from Banking/Finance-Industry-Economic Times https://ift.tt/3uhth...

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SBI internet banking, digital platform shut for maintenance

State Bank of India (RBI) has informed its customers via Twitter that its internet banking, digital banking platform ‘YONO’ and Unified Payments Inter from Business Line - Money & Banking https://ift.tt/3miAV...

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Mastercard to invest $100 million in Airtel Africa

Will get around 3.75% stake in the company from Business Line - Money & Banking https://ift.tt/31FHW...

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Jana SFB files DRHP

Looking to raise ₹700 crore through a fresh issue of shares, offer-for-sale from Business Line - Money & Banking https://ift.tt/3rPb8...

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Paytm Money opens new Technology Development Centre in Pune

Plans to hire over 250 engineers & data scientists from Business Line - Money & Banking https://ift.tt/3wrLu...

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ICICI Bank, PhonePe tie up for issuance of FASTags

This integration allows over 28 crore registered PhonePe users to order and track the ICICI Bank FASTag conveniently on the app, ICICI Bank said in a release. Those PhonePe users who are also ICICI Bank customers do not need to visit physical stores or toll collection locations to buy a FASTag. from Banking/Finance-Industry-Economic Times https://ift.tt/2PIcC...

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Mastercard to invest about Rs 733 cr in Airtel Africa's mobile money business

AMC BV is currently the holding company for several of Airtel Africa's mobile money operations and is intended to own and operate the mobile money businesses across all of Airtel Africa's 14 operating countries. from Banking/Finance-Industry-Economic Times https://ift.tt/3m7My...

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SBI mobile banking faces issues

Customers of the State Bank of India’s (SBI) were facing issues with online transactions on Thursday morning.Customers took to social media to report from Business Line - Money & Banking https://ift.tt/3fv6t...

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ICICI Bank, PhonePe partner to issue FASTag

PhonePe users would now get a fully digitised experience; wouldn’t have to visit physical stores, toll locations to buy a FASTag from Business Line - Money & Banking https://ift.tt/31DjV...

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Yes Bank takes over Anil Ambani's Reliance Centre for ₹1,200 crore

Anil Ambani-backed Reliance Infrastructure Limited has sold its office Reliance Centre at Santacruz, Mumbai to YES Bank for ₹1,200 crore."Entire proc from Business Line - Money & Banking https://ift.tt/3ud6T...

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Auto debit rule: New deadline is September 30

In August 2019, RBI had issued a framework for processing of e-mandates on recurring online transactions. Initially applicable to cards and wallets, the framework was extended in January 2020 to cover Unified Payments Interface (UPI) transactions as well. from Banking & Finance – The Financial Express https://ift.tt/3dmj6...

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Govt to infuse Rs 14,500 crore in 4 PSU banks through recapitalisation bonds

The four lenders in which government will infuse capital include Central Bank of India, Indian Overseas Bank, Bank of India and UCO Bank. from Banking & Finance – The Financial Express https://ift.tt/2PnRh...

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Non-food credit growth falls to 6.44%

Deposits with banks continued to grow in double digits and stood at Rs 149.56 lakh crore, up 12.12% YoY. The credit-deposit ratio was 71.74%. from Banking & Finance – The Financial Express https://ift.tt/2POJb...

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Axis Bank to sell its UK subsidiary

Enters share purchase agreement with OpenPayd Holdings from Business Line - Money & Banking https://ift.tt/3fujI...

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PFC, REC reduce lending rates

Initiative undertaken to offer competitive rates, in line with the rates being offered by peers from Business Line - Money & Banking https://ift.tt/3fCkh...

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RBI fixes WMA limits at ₹1.20 lakh crore for April-September 21

The Reserve Bank of India (RBI), in consultation with the Government, has decided that the limits for Ways and Means Advances (WMA) for the first hal from Business Line - Money & Banking https://ift.tt/3ue0V...

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HDFC Ltd increases rates on fixed deposits maturing between 33 and 99 months by 10-25 basis

From March 30, fixed deposits of 33-month duration will fetch 6.2% annualised returns. For 66-month deposits, the rate would be 6.6% and 6.65% for 99-month deposits. Senior citizens would get 25 basis points more. Distributors said this is the first time after October 2018 that HDFC Ltd has raised deposit rates. from Banking/Finance-Industry-Economic Times https://ift.tt/3dqIS...

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ICICI Bank, Axis Bank to co-lead NUE with Amazon, Visa as partners

Concerns over concentration risk and a need to fast-track cashless payments had led the RBI to invite applications for a NUE to rival the NPCI, which currently delivers services like UPI-based payments. from Banking/Finance-Industry-Economic Times https://ift.tt/39xPq...

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As FY21 concludes, rupee loses some of its sheen

Rising greenback, possible dollar-purchases by nationalised banks weigh on the currency unit from Business Line - Money & Banking https://ift.tt/3rCSI...

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Retail payments: Half-a-dozen consortiums set to apply for NUE licence

SurabhiLeading banks, fintechs and India Inc companies are joining hands to apply for licences for the umbrella entity for retail payments. According from Business Line - Money & Banking https://ift.tt/3ftbv...

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India to inject $2 billion capital in four weakened state banks

Central Bank of India, Indian Overseas Bank, Bank of India and UCO Bank will receive the funds through zero-coupon bonds, according to a government notification dated Tuesday from Banking/Finance-Industry-Economic Times https://ift.tt/2Pkqc...

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Recurring online transactions: RBI gives banks a 6-month breather to comply with framework for e-mandates processing

The primary objective of the framework was to protect customers from fraudulent transactions and enhance customer convenience. from Business Line - Money & Banking https://ift.tt/39tEe...

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SBI signs $1-b loan deal with JBIC

  State Bank of India (SBI) has signed a loan agreement amounting to up to $ 1 billion with Japan Bank for International Cooperation (JBIC). SBI had s from Business Line - Money & Banking https://ift.tt/3u9e0...

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Srei Equipment Finance sets up panel to raise fresh capital

Due to pandemic-driven economic stress, the company is facing cash flow issues. from Business Line - Money & Banking https://ift.tt/39x84...

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Northern Arc Capital partners CDC Group to create first pooled bond issuance

Will provide systemic liquidity to six Indian microfinance institutions from Business Line - Money & Banking https://ift.tt/2O7nI...

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MPC meet dates announced

Unlike last year when it was advanced due to Covid-19, this year the dates are evenly spread out from Business Line - Money & Banking https://ift.tt/31z4I...

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Financial institutions should keep capital buffers to absorb losses: RBI Dy Governor

Though optimistic of a higher future growth, Rajeshwar Rao cautioned that the recent surge in Covid cases pose a downside risk to recovery from Business Line - Money & Banking https://ift.tt/3sHgu...

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Book Summary: Manias, Panics and Crashes:A History of Financial Crises

from Banking/Finance-Industry-Economic Times https://ift.tt/3cE7R...

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Book Summary: Misbehaving: The making of behavioral economics

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

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Book Summary: The Education of a Value Investor

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

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SBI signs loan agreement of $1 billion with JBIC, taking total facility to $2 billion

The loan is intended to promote smooth flow of funds for the whole range of business operations of Japanese automobile manufacturers in India, SBI said in a statement. from Banking/Finance-Industry-Economic Times https://ift.tt/3wddH...

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Make new arrangements for recurring credit, debit card transactions as new norms kick in from April 1

Most banks, payment companies yet to comply with RBI norms for e-mandate from Business Line - Money & Banking https://ift.tt/3rDLJ...

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Rupee falls 20 paise to 73.58 against US dollar in early trade

Government likely to announce borrowing plan for Apr-Sept; Apr-Feb fiscal deficit data due; RBI likely to release Oct-Dec current account data from Business Line - Money & Banking https://ift.tt/3wecM...

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Banks may take up to $10-billion hit on Archegos loss: JPMorgan

Previously estimated losses were in the range of $2 billion to $5 billion. from Business Line - Money & Banking https://ift.tt/3fpWq...

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HDFC Bank customers face internet and mobile banking issues yet again

Last year in December, RBI had temporarily barred HDFC Bank from launching new digital banking initiatives and issuing new credit cards after taking a serious view of service outages at the lender over the last two years. from Banking & Finance – The Financial Express https://ift.tt/3fwgp...

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SBI to revamp MSME lending ops to increase efficiency

“With the objective of becoming banker of choice for MSMEs, SBI intends to improve existing processes and structure in the SME space for achieving improvement in market share/enhance the portfolio while ensuring the asset quality,” SBI said. from Banking & Finance – The Financial Express https://ift.tt/3rxeW...

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Push e-mandate rules to June for smooth transition, say experts

The deadline for implementing the Payment Aggregators and Payment Gateways (PAPG) guidelines should be extended till June to enable smooth transaction from Business Line - Money & Banking https://ift.tt/3m6Uo...

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Punjab & Sind Bank declares loans worth ₹150 cr to IL&FS Transportation as fraud

Public sector lender Punjab & Sind Bank on Tuesday said it has declared the account of IL&FS Transportation Network Ltd (ITNL) with total due from Business Line - Money & Banking https://ift.tt/3djHK...

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HDFC Bank customers face problems with internet, mobile banking

Customers of private sector lender HDFC Bank faced intermittent problems with internet and mobile banking on Tuesday.“Some customers are facing interm from Business Line - Money & Banking https://ift.tt/3w9BE...

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Automatic recurring payment to comply with RBI direction from April 1

Under the new norms, banks will be required to inform customers in advance about recurring payment due and transaction would be carried following nod from the customer. So the transaction would not be automatic but would be done after authentication from the customer. from Banking/Finance-Industry-Economic Times https://ift.tt/3frEX...

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Rising Covid cases could derail financial sector recovery

​​The brokerage has highlighted risks emerging for AU Small Finance Bank and RBL Bank which have a high proportion of loans to small enterprises and micro finance. from Banking/Finance-Industry-Economic Times https://ift.tt/2O4cq...

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Punjab & Sind Bank declares loans worth Rs 150 cr to IL&FS Transportation as fraud

It is informed that an NPA Account, viz IL&FS Transportation Network Limited (ITNL) with outstanding dues of Rs 149.98 crore has been declared as fraud and reported to the RBI as per regulatory requirement, Punjab & Sind Bank said in a filing. from Banking/Finance-Industry-Economic Times https://ift.tt/3u5hc...

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PayPal launches crypto checkout service

PayPal Holdings Inc will announce later on Tuesday that it has started allowing US consumers to use their cryptocurrency holdings to pay at millions o from Business Line - Money & Banking https://ift.tt/3cyxl...

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‘Claims of data breach being probed’

Will get a third party to conduct forensic data security audit, says Mobikwik CEO from Business Line - Money & Banking https://ift.tt/3wbgI...

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Muthoottu Mini’s NCD issue opens with coupon rates ranging from 9%–10.25%

Muthoottu Mini Financers Ltd, the non-deposit taking NBFC, has announced the opening of its public issue of Secured and Unsecured Debentures of the fa from Business Line - Money & Banking https://ift.tt/3rEzL...

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India in watchlist for inclusion in FTSE government bond index

India will be added to the watch list for potential inclusion in the FTSE Emerging Government Bond Index (EMGBI), according to FTSE Russell.FTSE Russe from Business Line - Money & Banking https://ift.tt/39rt0...

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‘Offloading of LIC stake in IDBI Bank will hit policyholders’

The All-India IDBI Officers’ Association has cautioned that any move by the Life Insurance Corporation (LIC) of India to offload the stake held in IDB from Business Line - Money & Banking https://ift.tt/3m3oR...

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Karnataka Bank operationalises non-financial subsidiary

Karnataka Bank operationalised its wholly owned non-financial subsidiary – KBL Services Ltd – on Tuesday. With its registered and head office in Benga from Business Line - Money & Banking https://ift.tt/3w93j...

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HDFC Bank customers facing issues with net banking, mobile banking

Private sector lender HDFC Bank on Tuesday said that it was facing certain intermittent issues with its NetBanking/MobileBanking App.“Some customers a from Business Line - Money & Banking https://ift.tt/3fshy...

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HDFC Bank faced intermittent glitches with payments platform

It could not be immediately determined what caused the problem, but an HDFC Bank spokesperson said it was not widespread. from Banking/Finance-Industry-Economic Times https://ift.tt/3dhLb...

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RBL Bank, Tide tie up for SME-focussed India platform

UK-based business banking fintech to start India operations from Business Line - Money & Banking https://ift.tt/3wbHY...

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GIC Housing Finance raises ₹195 cr via issuance of NCDs

NCDs allotted to Aditya Birla Sun Life Mutual Fund; carry interest rate of 6.94% per annum from Business Line - Money & Banking https://ift.tt/2QSoQ...

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FIDC appoints TT Srinivasaraghavan as Chairman Emeritus

The Finance Industry Development Council (FIDC) on Tuesday announced the appointment of TT Srinivasaraghavan, Managing Director, Sundaram Finance, as from Business Line - Money & Banking https://ift.tt/3m5mP...

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Banks closed for up to 10 days in various states in April 2021; check complete list of holidays

Banks in India will remain closed for over 10 days in April 2021, including weekends and festivals. In the first four days of April, banks will remain shut for three days. from Banking & Finance – The Financial Express https://ift.tt/3diJf...

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Visa moves to allow payment settlements using cryptocurrency

Launches pilot programme with platform Crypto.com from Business Line - Money & Banking https://ift.tt/3u3Jg...

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‘Retail segment is waiting to be mined’

Bank of Baroda (BoB) expects to grow above industry levels in the next financial year. In an interview, Vikramaditya Singh Khichi, executive director (ED), BoB, highlights the reasons to Ankur Mishra for the bank's stellar growth in the home loan segment. Excerpts: from Banking & Finance – The Financial Express https://ift.tt/3sBft...

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Banks want FinMin to pick up the tab for refund of interest on interest for loans above ₹2 cr

Banks fear this will lead to an impact on their bottomline from Business Line - Money & Banking https://ift.tt/3daJu...

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Credit Suisse says it faces a ‘significant loss’

Loss is resulting from a default by a US-based hedge fund on margin calls from Business Line - Money & Banking https://ift.tt/3fv4u...

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Marginal impact of SC verdict on moratorium on earnings

Economic recovery may boost credit demand from Business Line - Money & Banking https://ift.tt/31sGn...

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Government not inclined to bear loan moratorium costs

The government has already compensated banks for the interest on interest they had lost on loans outstanding below Rs 2 crore. Analysts estimate the additional cost to reimburse banks for all loans at Rs 7,000-10,000 crore. from Banking/Finance-Industry-Economic Times https://ift.tt/3ddpU...

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Will launch country-wide agitations: All India Bank Officers’ Confederation

Say will strike if CSB Bank does not implement the terms of the industry-wide 11th Bipartite wage settlement from Business Line - Money & Banking https://ift.tt/31qs4...

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Manappuram looks to take MFI arm Asirwad public

With a loan portfolio of over Rs 5,360 crore and close to 25 lakh customers across 23 states, the Chennai-headquartered Asirvad is the fourth largest microfinance lender in the country in terms of the loan book. from Banking/Finance-Industry-Economic Times https://ift.tt/39hKv...

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Banks to conduct special clearing operations for closure of government accounts on March 31

Normal clearing timings as applicable to any working Wednesday shall be followed on March 31, 2021, the RBI said in a notification addressed to the member banks, urban and state cooperative banks, payments banks, small finance banks as well as the NPCI. from Banking/Finance-Industry-Economic Times https://ift.tt/3suBT...

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Govt unlikely to continue with zero-coupon bond route to recap PSU banks

The government is unlikely to take zero-coupon bond route to further recapitalise public sector banks after the Reserve Bank expressed some concerns in this regard, sources said. from Banking/Finance-Industry-Economic Times https://ift.tt/3w97P...

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