India attracts $2 billion in fintech investment in H1 of 2021: Report

Insurtech has also been gaining popularity among investors from Business Line - Money & Banking https://ift.tt/3shxe...

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DICGC Act amendment may encourage merger of weak UCBs with stronger banks

DICGC can now defer or vary the time limit for receipt of repayments due to it from the insured bank or the transferee bank from Business Line - Money & Banking https://ift.tt/3m4yK...

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Ujjivan SFB plans to apply for reverse merger by early November

Q2 optimistic on business and collections, says MD and CEO from Business Line - Money & Banking https://ift.tt/3yLNX...

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Muthoot Finance expects gold loan business to drive bottom line in Q2

“We should be seeing growth in the non-gold business only from the third quarter. Vehicle finance and home loan sector has not picked up so far and is still in difficulty,”George Alexander Muthoot, managing director, Muthoot finance, said. from Banking & Finance – The Financial Express https://ift.tt/2VSCm...

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Unbundling of banking services is a reality, says MK Jain, RBI Deputy Governor

He further added that technology is revolutionising the competitive landscape in the financial system. from Business Line - Money & Banking https://ift.tt/3sbYZ...

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No plan for IPO as of now, says Bajaj Allianz Life CEO

The Pune-headquartered life insurer has been topping industry growth chart for long and has repeated it in the June 2021 quarter logging in 48 per cent growth in premium sales. from Banking/Finance-Industry-Economic Times https://ift.tt/3AHyE...

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DHFL Q1 net profit surges to ₹314.43 crore

Its revenue had fallen 13.9 per cent to ₹2,000.69 crore in the first quarter. from Business Line - Money & Banking https://ift.tt/3yL2S...

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Repco Home Finance Q1 net profit halves to ₹32.1 crore

Revenue from operations marginally dropped to ₹320.1 crore from Business Line - Money & Banking https://ift.tt/3jRuq...

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ICICI Home Finance launches on-the-spot home loan for workers having no ITR

Under the 'Big Freedom Month', ICICI Home Finance aims to assist home loan seekers who do not have income tax returns proof to buy their dream home, it said in a statement. from Banking/Finance-Industry-Economic Times https://ift.tt/3iJ0M...

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Visa could gain 5% incremental share as curbs on MasterCard continue

While Visa has a 44 per cent market share, MasterCard owns 37 per cent of the market. from Banking/Finance-Industry-Economic Times https://ift.tt/37KcR...

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GIC Re posts Q1 net loss of ₹771.73 crore

Reports underwriting loss of ₹2,811.17 crore from Business Line - Money & Banking https://ift.tt/3scO5...

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RBI gives Ind Bank Housing time till December to complete revival process

In its annual report 2019-20, Ind Bank Housing said it has put in place an aggressive recovery mechanism for realisation of existing home loans. from Banking/Finance-Industry-Economic Times https://ift.tt/3m2vm...

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MobiKwik ropes in four independent directors

Strengthens Board ahead of IPO from Business Line - Money & Banking https://ift.tt/3yLGk...

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RRBs asked to focus on financial literacy, credit counselling to boost credit flow

Regional Rural Banks should open financial literacy and credit counselling centres to improve credit flow, according to Brij Mohan Sharma, Executive D from Business Line - Money & Banking https://ift.tt/3yFJC...

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SBI’s biz activity index improves significantly in the week ended Aug 9

The index reading for May 22, 2021 was 61.4 and for July 21, 2021, was 94.2 from Business Line - Money & Banking https://ift.tt/3iIUy...

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Central Bank of India identifies 350 branches in coastal areas for aqua financing

"We are now moving onto the agri related industries like processing. In coastal areas, we have identified around 350 branches where we are bringing only aqua financing from the rural centres," M V Rao, MD & CEO, Central Bank of India, said in earnings call with analysts post June 2021 quarter results of the bank. from Banking/Finance-Industry-Economic Times https://ift.tt/3iFfs...

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RBI slaps ₹1 crore penalty on Coöperatieve Rabobank U.A.

Penalty imposed for contravention of certain sections of Banking Regulation Act, 1949 from Business Line - Money & Banking https://ift.tt/3scyV...

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RBI empanels South Indian Bank as ‘Agency Bank’

Bank is now authorised to carry out business on behalf of RBI from Business Line - Money & Banking https://ift.tt/3xJa3...

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Senior citizens can withdraw money from SCSS, PPF etc. via authorized person: Here's how

Up until now, this was not allowed; the senior citizen would have to visit the post office branch to make withdrawals/close accounts, make premature withdrawals from post office schemes. Given below is the procedure that needs to be followed by the senior citizen to nominate an authorized person on their behalf. from Banking/Finance-Industry-Economic Times https://ift.tt/2XqnT...

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Bank credit may catch up to deposit growth

Advances of scheduled banks up ₹31,692 crore, deposits up ₹33,886 crore from Business Line - Money & Banking https://ift.tt/2VHQt...

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RBI imposes Rs 1 cr penalty on Cooperatieve Rabobank U.A.

The penalty has been imposed for contravention of certain provisions of the Banking Regulation Act, 1949 and directions related to 'transfer to reserve funds'. from Banking/Finance-Industry-Economic Times https://ift.tt/3jRR4...

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RBI slaps ₹1-cr penalty on Cooperatieve Rabobank U.A.

Penalty imposed for contravention of certain sections of Banking Regulation Act, 1949 from Business Line - Money & Banking https://ift.tt/3k5MM...

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MSME lending: U GRO Capital aims ₹20,000 crore AUM by 2025

Will soon go live with co-lending partnership with SBI from Business Line - Money & Banking https://ift.tt/3iI7B...

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Suryoday Small Finance Bank posts ₹48-cr loss in June quarter

Write-off, provision on restructuring weigh on lender’s bottomline from Business Line - Money & Banking https://ift.tt/3fTHv...

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Bank credit grows 6.11% in fortnight ended July 30: RBI data

Deposits by 9.8 per cent to ₹155.49 lakh crore from Business Line - Money & Banking https://ift.tt/3CIIQ...

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Bank credit grows 6.11% in fortnight ended July 30, shows RBI data

In 2020-21, bank credit increased by 5.56 per cent and deposits by 11.4 per cent. from Banking/Finance-Industry-Economic Times https://ift.tt/3xADn...

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Noopur Chaturvedi appointed CEO of NPCI Bharat BillPay

National Payments Corporation of India, on Thursday, announced the appointment of Noopur Chaturvedi as the Chief Executive Officer of NPCI Bharat Bill from Business Line - Money & Banking https://ift.tt/2Xol3...

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Deutsche Bank gets nod to set up IFSC banking unit at GIFT City

Set up in 2015, International Financial Services Centre in GIFT City has attracted international and domestic players across the financial services spectrum, such as banks, asset management companies, alternate investment funds and professional services firms. from Banking/Finance-Industry-Economic Times https://ift.tt/37BBL...

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Airtel Payments Bank turns profitable in July amid business growth: CEO to staff

Airtel Payments Bank CEO Anubrata Biswas said the bank has turned profitable for the first time in its history, and termed it a "cherished milestone" in the 55th month of operations. from Banking/Finance-Industry-Economic Times https://ift.tt/3jN2y...

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Very strong credit growth likely over next 3-4 years: Susmit Patodia

“This time, housing, infrastructure like roads, railways could do the heavy lifting for the capex cycle.” from Banking/Finance-Industry-Economic Times https://ift.tt/3yKA4...

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Deutsche Bank to start IFSC Banking Unit at GIFT City

It becomes the 17th IBU to be operational here. from Business Line - Money & Banking https://ift.tt/3iHms...

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New India Assurance Q1 net profit down 68.9%

For the quarter ended June 30, 2021, the company reported a 16.1 per cent jump in gross premiums from Business Line - Money & Banking https://ift.tt/3jI7y...

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India will grow with coordination between Centre, private sector: Sanjiv Bajaj, Bajaj Finserv

"It is important to say that the LIC IPO should happen on time. The privatisation of the public sector, couple of the banks, and the insurance companies should happen. This will then create traditional confidence." from Banking/Finance-Industry-Economic Times https://ift.tt/3yHwv...

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ATM companies wary of RBI’s Rs 10,000 cash-out fine

​In a circular to banks this week, the RBI said that they should monitor the availability of cash in ATMs and ensure that there are no cash-outs. The circular said that banks would be fined Rs 10,000 if there is a cash-out at any ATM for more than 10 hours in a month. from Banking/Finance-Industry-Economic Times https://ift.tt/3jPJ2...

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10 rules of investing, saving right: Steps to follow, pitfalls to avoid

Investing is not easy. Much as we try to simplify, speak about it enough to help investors feel confident, it remains tough. The process seems to be filled with too many questions. Let’s consider some steps and some pitfalls to avoid. from Banking/Finance-Industry-Economic Times https://ift.tt/2XmCB...

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Yes Bank scouts for partner to set up asset reconstruction firm

Bidders must have global experience in the distressed assets space, and a track record of turning around or resolving non-performing assets (NPAs), apart from satisfying the central bank’s ‘fit and proper’ criteria. from Banking & Finance – The Financial Express https://ift.tt/3yAW5...

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We will be back issuing cards by mid-September, huge potential to tap: Shalini Warrier, executive director, Federal Bank

According to research, customers reach out to credit cards when the ticket size is large. Youngsters use debit cards when the ticket size is small. That is a reason why we went for credit cards. This is true for even e-commerce platforms. Credit cards are here to stay. from Banking & Finance – The Financial Express https://ift.tt/3yHNh...

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Bill for privatisation of state-run general insurance companies gets Parliament nod

The upper house passed the legislation with a voice vote in the din, in a matter of minutes, with Finance Minister Nirmala Sitharaman not replying to points raised by MPs briefly. from Banking/Finance-Industry-Economic Times https://ift.tt/2VQCP...

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Festive season to push credit demand: Au Small Finance Bank CEO

The lender also believes its recovery, as measured by collection efficiency, will remain upward of 100 per cent in the next few months. from Banking/Finance-Industry-Economic Times https://ift.tt/3AtEm...

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Indian Bank signs Memorandum of Understanding with Paralympic Committee

​​The resources from the bank would be used to meet the requirements of the para athletes ranging from their training, nutrition and equipment, among others, PCI president Deepa Malik said. Timely financial aid for the sportspersons would encourage them to focus on their efforts to win for the country, Malik said. from Banking/Finance-Industry-Economic Times https://ift.tt/37yZd...

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NCLT admits insolvency resolution petition against Mumbai-based developer Nirmal Lifestyle

The Mumbai bench of the National Company Law Tribunal (NCLT) has admitted the company under the Corporate Insolvency Resolution Process (CIRP) based on a petition filed by IDBI Trusteeship Services, on behalf of Altico Capital, after the company defaulted on its dues worth Rs 286 crore. from Banking/Finance-Industry-Economic Times https://ift.tt/3s6ti...

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Yes Bank to float asset reconstruction company, invites bids from investors

"The prospective investor would be the lead partner/sponsor of the ARC, with the bank as the other significant partner/sponsor, for conducting the business of asset reconstruction," as per the EOI. from Banking/Finance-Industry-Economic Times https://ift.tt/3fU0s...

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Shriram City expects to return to pre-Covid levels by Q2

NBFC aims to ‘aggressively push’ gold and two-wheeler loans, says CEO from Business Line - Money & Banking https://ift.tt/2VMLL...

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At 11 lakh, LIC sees surge in death claims in FY21

17% jump in the number of claims reported to the state-run insurer in FY20 from Business Line - Money & Banking https://ift.tt/3AD5O...

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Franklin accumulates ₹1,111 crore more from sale of six debt scheme assets

SBI Funds will disburse later this month from Business Line - Money & Banking https://ift.tt/37vKA...

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Took conservative approach while phasing out NPAs: VP Nandakumar, Manappuram Finance

"In microfinance we have provided adequately and we have been very conservative with the write off after 180 days." from Banking/Finance-Industry-Economic Times https://ift.tt/3jNrk...

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KVB contributes Rs 10 lakh under CSR to hold free vaccination drive

​​The state government has appealed to corporate and financial institutions towards contributing under the corporate social responsibility for holding free vaccination drive at private health care facilities. from Banking/Finance-Industry-Economic Times https://ift.tt/3xEaw...

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Fintechs attract record $2 billion in H1: Report

Razorpay's raised USD 160 million in the series E round, making it the eighth largest, and lending app Kreditbee's mopped up USD 153 million in series C round, the tenth-largest in Asia. from Banking & Finance – The Financial Express https://ift.tt/3jDsU...

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Franklin Templeton MF says returned ₹21,000 cr to investors of six shuttered schemes

Also, cash to the tune of ₹1,111 crore was available for distribution as of July 31 this year from Business Line - Money & Banking https://ift.tt/3lUKc...

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10 banks come together to set up Secondary Loan Market Association

A self-regulatory body, SLMA will look to promote wider participation in the loan market from Business Line - Money & Banking https://ift.tt/3AoW8...

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A new phishing attack lurking to scam banking customers: Advisory

The Indian Computer Emergency Response Team or CERT-In is the federal technology arm to combat cyber attacks and guarding the cyber space against phishing and hacking assaults and similar online attacks. Phishing denotes to the fraud when an attacker, masquerading as a trusted entity, tricks a victim into clicking evil links to steal passwords, login credentials and one-time password (OTP). from Banking/Finance-Industry-Economic Times https://ift.tt/3fRbw...

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RBL Bank empanelled as Agency Bank by RBI

The accreditation comes on the heels of the RBI’s guideline authorising scheduled private sector banks as Agency Banks to carry out specific government-related business transactions from Business Line - Money & Banking https://ift.tt/3lYsX...

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YES Bank scouts for investors to set up ARC

The prospective investor should have minimum assets under management of $5 billion in the immediately preceding completed financial year from Business Line - Money & Banking https://ift.tt/3fRYn...

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Global banks unwind lucrative India trades after RBI warning

The Reserve Bank of India warned the banks of a regulatory breach last week, saying they must limit their holdings of unlisted securities to no more than 10% of investments classified as the non-statutory liquidity ratio portfolio. from Banking/Finance-Industry-Economic Times https://ift.tt/3lWQ1...

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Link UAN with Aadhaar before August 31 to ensure EPF amount can be credited to your account

The government has made it mandatory for UAN to be linked with Aadhaar so that employers are able to file Employee Cum Return (ECR) challan and deposit the money into your EPF account. from Banking/Finance-Industry-Economic Times https://ift.tt/37AHI...

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NPS risk-return profile has changed: What it means for investors, what they should do now

The ability to tap mid-caps will give scope to fund managers to generate alpha. At the same time, mid-cap stocks tend to exhibit higher volatility than large-caps. This basket is also prone to higher drawdown during downturns. This will get reflected in NPS equity portfolios. from Banking/Finance-Industry-Economic Times https://ift.tt/3fSyb...

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‘Won’t need significant loan recast as market has improved’

For Shriram Housing Finance (SHFL), which has completed a decade of operations, the second quarter this fiscal promises to be one of the highest quarters ever in terms of disbursements, says its MD & CEO Ravi Subramanian. from Banking & Finance – The Financial Express https://ift.tt/3CFb2...

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High stress: PSBs set aside over 60% of operating profit as provisions

Bankers say the first quarter saw stress mounting in the retail and small business segments as a result of the second Covid wave. from Banking & Finance – The Financial Express https://ift.tt/3AC0y...

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Shriram City, STFC raise record retail FDs worth Rs 2,000 crore in July

Shriram City raised retail FDs worth Ra 390 crore, while STFC raised Rs 1,610 crore in July — the highest-ever funds raised from retail FDs for both entities from Banking & Finance – The Financial Express https://ift.tt/2U6fx...

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323 frauds in UCBs, 482 in state co-op banks in FY21: FM

Finance minister Nirmala Sitharaman said urban cooperative banks reported 323 frauds in FY21 as against 568 in the previous year and 1,193 in FY19. Similarly, state cooperative banks witnessed 482 frauds in FY21, down from 508 in the previous fiscal but much higher than the FY19 level of 290, she said in a written reply to a question. from Banking & Finance – The Financial Express https://ift.tt/37tY8...

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CoinDCX raises $90-m funding led by Facebook co-founder’s B Capital

Becomes the first cryptocurrency unicorn in India from Business Line - Money & Banking https://ift.tt/3AxWm...

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SFBs mull transitioning into universal banks

Most of them meet minimum net worth criteria of ₹500 crore from Business Line - Money & Banking https://ift.tt/3AvB8...

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Strengthen systems to monitor availability of cash, RBI to banks, White Label ATM operators

RBI comes out with a ‘scheme of penalty for non-replenishment of ATMs’ from Business Line - Money & Banking https://ift.tt/2XhcP...

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Infibeam eyes short-term lending for SMEs, merchants

Plans to provide NBFCs, banks AI algorithms, merchant data, framework for the service from Business Line - Money & Banking https://ift.tt/3Ass2...

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Manappuram Finance Q1 net profit up 18.7% at ₹437 crore

Declares interim dividend of ₹0.75 per share from Business Line - Money & Banking https://ift.tt/3lRI4...

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PNB Housing to focus on affordable housing segment, co-lending to conserve capital

“There is (a) massive opportunity that is going to come up in India on the affordable housing side and loans less than Rs 2 crore.” PNB Housing chief executive Hardayal Prasad said. from Banking/Finance-Industry-Economic Times https://ift.tt/3jGra...

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ATM installed in Meghalaya hospital where inventor was born in 1925

"The teller machine was installed on August 7 after a petition was submitted to State Bank of India for setting up an ATM on the premises before the centennial celebrations of our facility next year," Medical Superintendent of the hospital Dr Roken Nongrum told. from Banking/Finance-Industry-Economic Times https://ift.tt/3yBvI...

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SIDBI launches ‘Digital Prayaas’ app for providing loans

The App facilitates speedy onboarding of loan applicants in a digital and integrated process with better risk management from Business Line - Money & Banking https://ift.tt/3iAKF...

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RBI to impose penalties on banks for failing to ensure cash availability at ATMs

“It has been decided that the banks and White Label ATM Operators (WLAOs) shall strengthen their systems and mechanisms to monitor availability of cash in ATMs and ensure timely replenishment to avoid cash-outs,” the RBI said on Tuesday. “Any non-compliance in this regard shall be viewed seriously and shall attract monetary penalty.” from Banking/Finance-Industry-Economic Times https://ift.tt/3iAaq...

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Max Financial Services net down 49% in Q1 sequentially

Max Life registered a 32 per cent jump in new business premium from Business Line - Money & Banking https://ift.tt/3fSsH...

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Bharat ATM to add 20 lakh outlets by 2022-end to offer banking services to rural area

The app offers banking services, including account opening, deposits, remittances and cash withdrawals to rural masses in tie-up with local kirana stores, thereby eliminating the need to invest time and money travelling significant distances to the closest bank branch or ATM, it said. from Banking/Finance-Industry-Economic Times https://ift.tt/3xFhx...

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NBFC-MFIs gross loan portfolio may grow 10-15 pc in FY22: Report

"The GLP for NBFC-MFIs in FY22, is expected to return to the growth path and register around 10-15 per cent growth due to a pick-up in disbursements owing to the expected recovery in economic activity, kickstarting of expansion plans that were halted due to the pandemic and increased need for credit among low-income segments," the rating agency said. from Banking/Finance-Industry-Economic Times https://ift.tt/3fRT6...

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‘Government does not recognise cryptocurrency as legal tender’

Finmin replies in Rajya Sabha also point to a slight dip in the number of billionaire Indians from Business Line - Money & Banking https://ift.tt/3g84c...

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HFCs may see robust growth but NPAs could rise: CARE Ratings

However, collections and asset quality for housing finance companies would improve in the second half as economy improves, it says from Business Line - Money & Banking https://ift.tt/3xvSS...

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Neeraj Chopra roped in for RBI awareness campaign

A public awareness campaign is being run by the Reserve Bank of India to warn people of digital banking frauds. The RBI has roped in Neeraj Chopra, Olympic gold medalist for this campaign. The RBI tweeted about this campaign, and asked people to be cautious when banking online. from Banking/Finance-Industry-Economic Times https://ift.tt/3xvH1...

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Saverin-backed exchange becomes India’s first crypto unicorn

The latest funding round values CoinDCX at $1.1 billion, CEO Sumit Gupta said from Business Line - Money & Banking https://ift.tt/3AxOr...

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INTERVIEW| Demand for loans has come back, says Nitin Chugh, MD & CEO, Ujjivan SFB

In an interview with Mithun Dasgupta, Chugh informs collection efficiency for every single state improved in July compared to June. However, Assam and Kerala are lagging behind. Excerpts: from Banking & Finance – The Financial Express https://ift.tt/3AvRT...

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‘We believe liquidity scenario should change in next few months’

Given the fact that there’s abundance of liquidity and pricing is under pressure on the corporate side, we have focused on growth on the retail side. from Banking & Finance – The Financial Express https://ift.tt/3s1ma...

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CUB June quarter net profit grows 12%

The bank's bad assets increased in the quarter, with gross NPA at 5.59%, rising from 3.90%. Net NPA too rose to 3.49% from 2.11%. from Banking & Finance – The Financial Express https://ift.tt/2U3NQ...

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Banks interested in funding Amrapali’s stalled projects, says NBCC

Days after SBICAP Ventures Ltd, which is managing the government's Rs 25,000-crore special window fund to revive stalled housing projects signed an MoU with Court Receiver for infusing Rs 650 crore in six projects, the monitoring Committee appointed by the Supreme Court held a meeting with nationalised and private banks to discuss the financing for Amrapali Projects on Monday. from Banking/Finance-Industry-Economic Times https://ift.tt/3jHhM...

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SAT’s split verdict leaves PNB-Carlyle deal in limbo; case may go to apex court

One judge said SEBI was right to ask for valuation of PNB HFC, other said no need from Business Line - Money & Banking https://ift.tt/2VDb6...

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RBI moves to ease overseas direct investment regulations under FEMA

Seeks feedback on draft by Aug 23 from Business Line - Money & Banking https://ift.tt/37snT...

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HDFC Bank receives Rs 30,000 crore prepayments amid signs of economic recovery and deliveraging

HDFC Bank, India’s most valuable lender, did not reply to ET's queries on the subject. Industry sources didn’t reveal the names of individual corporate borrowers prepaying their loans to HDFC Bank. from Banking/Finance-Industry-Economic Times https://ift.tt/3s3mY...

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Consultant for MARS: Pension regulator comes with new RFP

Relaxes the experience criteria for potential bidders as compared to earlier RFP from Business Line - Money & Banking https://ift.tt/3jF9o...

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Microfinance firm Satin Creditcare Network reports Rs 81 crore net loss in June quarter

Collection efficiency, a gauge for repayment of loans, was lower at 82 during the quarter under review. Satin's disbursements for the quarter fell to Rs 282 crore as compared with Rs 2,376 crore in the January-March period. The firm's consolidated loan portfolio shrunk to Rs 7464 crore at the end of June against Rs 8100 crore a year back. Its microfinance book stood at Rs 6450 crore as against Rs 7100 crore. from Banking/Finance-Industry-Economic Times https://ift.tt/3iuKN...

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Aptus Value a play on affordable housing, but IPO not cheap: Analysts

52 per cent of Aptus Value's loan portfolio comes from Tamil Nadu, and past experiences of Repco and Can Fin Home suggest that slowdown in home states impact growth as well as profitability for regional HFCs. from Banking/Finance-Industry-Economic Times https://ift.tt/3lRbl...

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RBI policy review: A subtle shade of policy normalisation, says Acuite Ratings

The agency expects RBI to start normalisation of policy rates by increasing reverse repo rate from Business Line - Money & Banking https://ift.tt/3CvYm...

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GIFT City, India Insurtech Association ink pact to promote fintech in insurance space

The aim is to emphasise on India’s international financial services potential from Business Line - Money & Banking https://ift.tt/3xxJZ...

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PNB Housing Finance targets to bring corporate loan book below Rs 10,000 crore by end of March 2022: Hardayal Prasad

The business of the company, promoted by state-owned Punjab National Bank (PNB), has been hit by the second COVID wave. The company has reduced its corporate book by 25 per cent since March 2020. At some stage, the company would like to take a decision on the size of corporate lending, Prasad said, adding that it was essential to have some amount of builder finance. from Banking/Finance-Industry-Economic Times https://ift.tt/37tnX...

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Banks report improved NII, lower NPA provisioning in Q1

The aggregate provision by the public sector (PSU) banks fell by 27% year-on-year due to a sharp double digit drop reported by State Bank of India, Punjab National Bank, Canara Bank, and Bank of Baroda. from Banking/Finance-Industry-Economic Times https://ift.tt/2X9Ve...

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RBL Bank selects AWS to accelerate AI efforts

It will leverage Amazon Textract across the bank’s risk and operations to analyse documents from Business Line - Money & Banking https://ift.tt/3CuAA...

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Digital transactions grew 80% in last 250 days: Razorpay report

Digital transactions by freelancers and homepreneurs saw a growth of 69 per cent from Business Line - Money & Banking https://ift.tt/3iyhi...

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Now, depositors can withdraw up to ₹5 lakh if bank placed under moratorium

Parliament clears amendments to DICGC Act from Business Line - Money & Banking https://ift.tt/3jALt...

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CASA ratio moved from 39% to nearly 40% over last 12 months: Sanjiv Chadha, Bank of Baroda

"We have tried to be disciplined, make sure that our deposits grow in line with our loan growth. Because we were choosy there, we have been able to make sure that most of the growth has come from CASA deposits." from Banking/Finance-Industry-Economic Times https://ift.tt/3lLGW...

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Equitas SFB lanches fintech accelerator programme ‘Equitech’

The scheme will help fintechs to curate their products and define a go-to-market strategy from Business Line - Money & Banking https://ift.tt/3xztX...

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Gold loans saw good growth, demand in Q2: George Alexander Muthoot, Muthoot Finance

"If you are in the money, why should we trouble a customer. We can definitely hold those loans as stage 3 and still work in the company so that it does not affect our growth." from Banking/Finance-Industry-Economic Times https://ift.tt/2U1eB...

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Recovery will be sharper this time, but certain segments may lag: Nitin Chugh, Ujjivan SFB

"We are confident that things will definitely improve, but at the same time we do want to be careful and conservative and not open up things rather rapidly." from Banking/Finance-Industry-Economic Times https://ift.tt/3lM9m...

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Merger helps Bank of Baroda step up retail loans: CEO

The merger of Vijaya Bank has given Bank of Baroda a lead in retail lending, particularly loans against jewellery, which rose 35% to be one of the fastest-growing segments last year. from Banking/Finance-Industry-Economic Times https://ift.tt/3s0L8...

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Exempt public sector and commercial banks from Deposit Insurance Scheme: AIBEA

Employees’ association terms ₹12,000-crore annual premium payout by public sector banks as unwarranted, owing to pre-existing regulation from Business Line - Money & Banking https://ift.tt/3jApr...

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Indian bankers in talks as court rulings threaten over $6 billion in loans

The Supreme Court rulings pertain to proposed Future Group-Reliance deal and telecom players’ outstanding dues from Business Line - Money & Banking https://ift.tt/3fKr4...

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IDBI stake sale: 7 firms in transaction adviser shortlist

The government has kick-started the process of sale of its stake in IDBI Bank, where government shareholding is at 45.48%, LIC of India holds 49.24% and non-promoter shareholding is at 5.29%. The Cabinet Committee on Economic Affairs had given an in-principle approval for the strategic divestment of IDBI Bank in May this year, which includes giving up management control. from Banking/Finance-Industry-Economic Times https://ift.tt/3fLZa...

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Corporate lending by major PSBs declines

But banks remain ‘optimistic’ about future prospects from Business Line - Money & Banking https://ift.tt/3lJPm...

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‘Ethereum Improvement Proposal’ all set to bring major change to crypto world

Industry players said with the current updates, Ether stands a chance to outperform Bitcoins. from Business Line - Money & Banking https://ift.tt/37roM...

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Banks stare at higher provisioning as Voda-Idea singes books

Banks may go for pre-emptive provisioning in the next couple of quarters to insulate their balance sheet from the possible impact of troubles at the l from Business Line - Money & Banking https://ift.tt/3lJcO...

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Banking tech firm Zeta eyes $300 m in revenue by 2025

The start-up is expanding its sales and marketing team in North America from Business Line - Money & Banking https://ift.tt/3iwXU...

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Indian bankers in talks as court rulings threaten over $6 billion in loans

Any failure to recoup the money adds to stress in the banking sector, which is already dealing with an increased level of bad loans and reduced profits because of the impact of the pandemic. from Banking/Finance-Industry-Economic Times https://ift.tt/3AqgF...

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UCBs: RBI may nix norm to constitute Board of Management

Amendment to the Banking Regulation Act gives RBI full control over their functioning. from Business Line - Money & Banking https://ift.tt/3jCvo...

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PNB Housing Finance to step up recovery efforts this month onwards: CEO Prasad

The company's gross non-performing assets (NPAs) jumped to six per cent of the gross advances (or Rs 3,625 crore) in the quarter ended June 30, 2021, from 2.7 per cent by the end of June 2020, mainly on account of the impact of the second wave of the pandemic. from Banking/Finance-Industry-Economic Times https://ift.tt/3jE25...

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RBI empanels Karnataka Bank as ‘agency bank’ for govt business

As an empanelled “agency bank”, Karnataka Bank is now authorised to undertake the government businesses such as revenue receipts and payments on behalf of the central and state governments, pension payments of governments, collection of stamp duty charges and other items of work advised by the RBI, the bank said in a statement. from Banking/Finance-Industry-Economic Times https://ift.tt/2VsIw...

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Central Bank of India enters into strategic co-lending partnership with Dhanvarsha Finvest

To offer loan against gold to MSME borrowers from Business Line - Money & Banking https://ift.tt/3jskV...

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IDBI Bank strategic sale: 7 firms in race for transaction advisor

The firms that have bid for acting as transaction advisor are Deloitte Touche Tohmatsu India LLP, Ernst and Young LLP, ICICI Securities, JM Financial Ltd, KPMG, RBSA Capital Advisors LLP and SBI Capital Markets. from Banking/Finance-Industry-Economic Times https://ift.tt/37rn0...

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