Court takes cognisance of charge sheet against Avantha Group promoter Gautam Thapar

Avantha Group of companies promoter Gautam Thapar, 60, was arrested under the Prevention of Money Laundering Act (PMLA) on August 3 after the agency carried out raids against him and his linked businesses in Delhi and Mumbai. He is currently in judicial custody. from Banking/Finance-Industry-Economic Times https://ift.tt/3AmD6...

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Bank of Maharashtra launches digital lending platform for retail loans

Will instantly provide ‘in-principle approval’ for home loans and car loans from Business Line - Money & Banking https://ift.tt/2Yxde...

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RBI working on offline digital payments framework, hikes IMPS limit to Rs 5 lakh

Madhusudanan R, co-founder, M2P Fintech, said that the increase in the IMPS transaction limit is significant because the Unified Payments Interface (UPI) is based on that system and a whole host of peer-to-peer (P2P) payments and initial public offer (IPO) payments will be simplified as a result. from Banking & Finance – The Financial Express https://ift.tt/3DlFY...

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Punjab and Maharashtra Co-operative Bank resolution at an advanced stage: RBI

Once the draft scheme for amalgamation or reconstitution is ready, it is expected to be put in the public domain for comments. Thereafter, it will be notified through the gazette. from Banking & Finance – The Financial Express https://ift.tt/3FufN...

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RBI hikes IMPS daily transaction limit to ₹5 lakh

Geotagging of payment system touch points, fourth cohort for regulatory sandbox from Business Line - Money & Banking https://ift.tt/3Dfky...

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Bandhan Bank's collection efficiency improves sharply

The bank's repayment collection from microfinance vertical, which contributes about a third of its loan portfolio, also improved to 86% from 72% over the same period, the bank said in a regulatory filing to stock exchanges. from Banking/Finance-Industry-Economic Times https://ift.tt/2WS18...

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Gradual unwinding of liquidity measures to support growth, keep inflation under control: Bankers

The six-member MPC kept the repo rate unchanged at 4 per cent and maintained an accommodative policy stance.The RBI also suspended the G-Sec Acquisition Programme (G-SAP) and is proposed to undertake five 14-day variable rate reverse repo (VRRR) auctions on a fortnightly basis between today and December 3, 2021. from Banking/Finance-Industry-Economic Times https://ift.tt/3oKdv...

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Bank of Maharashtra launches digital lending platform for home, car loans

The bank has currently waived processing fee on housing and car loans for its customers to benefit them in the ongoing festive seasons. from Banking/Finance-Industry-Economic Times https://ift.tt/3uU7D...

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CBI files charge sheet against Rana Kapoor, Gautam Thapar, Avantha Group and Bindu Rana Kapoor

The charges against Kapoor include allegations of abuse of power while he was the head of Yes Bank, a case in that matter was registered in March 2020. from Banking/Finance-Industry-Economic Times https://ift.tt/3akpI...

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NCLT Kolkata bench admits RBI's petition against Srei group of companies

RBI filed the petition after the Bombay High Court on October 7 dismissed Srei Group's plea against RBI action on SREI Infrastructure Finance Ltd (SIFL) and Srei Equipment Finance Ltd (SEFL). from Banking/Finance-Industry-Economic Times https://ift.tt/2YEHD...

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RBI empanells Dhanlaxmi Bank as Agency Bank

It is now authorized to undertake transactions related to government businesses from Business Line - Money & Banking https://ift.tt/3oKpk...

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RBI says reviewing ATM outage circular after bank’s feedback

ET was the first to report in its September 9 edition that lenders had approached the RBI seeking relaxation in its scheme citing issues of replenishing ATMs in rural geographies that could significantly push up costs and make business unviable. from Banking/Finance-Industry-Economic Times https://ift.tt/3mRnF...

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RBI Guv responds to SBI note about excess liquidity; says banks must do own risk assessment

In mid-September, SBI Economic Research said when other costs are taken into account, banks are facing significant pressure on margins because of the low market rates caused by surplus liquidity in the banking system. from Banking/Finance-Industry-Economic Times https://ift.tt/3agNk...

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Mobikwik gets Sebi approval for Rs 1,900 crore IPO

Mobikwik is expected to launch its IPO before Diwali (November 4) and is likely to fetch a valuation of $1 billion from Banking/Finance-Industry-Economic Times https://ift.tt/3Dssc...

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SBI internet banking will be down for some time this weekend. Check timings

Internet banking services of the State Bank of India will be down for certain hours this weekend because of maintenance work, the bank has informed. from Banking/Finance-Industry-Economic Times https://ift.tt/3uPHi...

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RBI extends three-year SLTRO facility to SFBs

Extend this facility till December 31, 2021 from Business Line - Money & Banking https://ift.tt/3oJrn...

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RBI moves NCLT against SREI Equipment Finance and SREI Infra

Central bank inspection of the books of Srei Infrastructure Finance (SIFL) and its wholly owned unit Srei Equipment Finance (SEFL) revealed that the group's financial health had begun to deteriorate much before the pandemic, something the Kolkata financier has repeatedly blamed for its abysmal cash flows. from Banking/Finance-Industry-Economic Times https://ift.tt/3AtLS...

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Select NBFCs to now have internal ombudsman on lines of banks: Shaktikanta Das

The IOS will be on the lines of a similar system adopted at banks and will redress grievances related to deficiencies in service, Governor Shaktikanta Das said, announcing the new measure in the statement on regulatory policies along with the bi-monthly review of the monetary policy. from Banking/Finance-Industry-Economic Times https://ift.tt/3oQqR...

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Select NBFCs to now have internal ombudsman on lines of banks: Das

Will be on the lines of a similar system adopted at banks and will redress grievances related to deficiencies in service from Business Line - Money & Banking https://ift.tt/3BryR...

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Monetary Policy Committee revises FY22 retail inflation projection to 5.3%

Retained its projection for real GDP growth at 9.5% from Business Line - Money & Banking https://ift.tt/3DmH8...

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RBI more than doubles limit on IMPS to Rs 5 lakh

"In view of the importance of the IMPS system in processing of domestic payment transactions, it is proposed to increase the per-transaction limit from Rs 2 lakh to Rs 5 lakh for channels other than SMS and Interactive Voice Response System (IVRS),"the RBI said as part of its monetary policy announcement. from Banking/Finance-Industry-Economic Times https://ift.tt/3uSE4...

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RBI Gov hints on ‘gradual’ unwinding of exceptional liquidity measures

Underscores that the RBI will continue to absorb surplus liquidity via the 14-day variable rate reverse repo auction from Business Line - Money & Banking https://ift.tt/3Bo3X...

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RBI proposes framework for offline digital retail payments

Transaction limit for IMPS to be increased to ₹5 lakh from Business Line - Money & Banking https://ift.tt/3DojG...

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RBI increases IMPS limit to Rs 5 lakh from Rs 2 lakh earlier

RBI Governor Shaktikanta Das announced that the increased limit for the digital payment mode used for making immediate transfer of money will make it convenient for consumers to tansfer higher sums. from Banking/Finance-Industry-Economic Times https://ift.tt/3oGIC...

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RBI maintains status quo on rates

The repo rate stands at 4 per cent and the reverse repo rate at 3.35 per cent. from Business Line - Money & Banking https://ift.tt/3iE9G...

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Become F.I.R.E (Financially Independent and Retire Early)

from Banking/Finance-Industry-Economic Times https://ift.tt/3af8R...

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Importance of Financial Independence in Today's World

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

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SREI group's financial health withered well before pandemic, says RBI order

The regulator was quite annoyed with repeated violations of prudential norms, including income recognition, asset classification and provisioning (IRACP), ever-greening of loans and deterioration of corporate governance standards. from Banking/Finance-Industry-Economic Times https://ift.tt/3BnuM...

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Eko to disburse $1 billion worth of loans in the next three to five years

The company secured two significant investments of $5.5 million in 2011 and $1.5 million in 2017 from Creation Investments, which were utilized to strengthen its product development, R&D, and technological framework. from Banking/Finance-Industry-Economic Times https://ift.tt/306NV...

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Banks need to accelerate green lending to achieve sustainable growth: SBI chief Dinesh Khara

India's green finance definition could be formed through a combination of adopting international practices, developing a set of principles for green economic activities and obtaining stakeholders' views, SBI Chairman Dinesh Khara suggested. from Banking/Finance-Industry-Economic Times https://ift.tt/306Vo...

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Bank of Baroda reduces home loans rates to 6.5%

The rate will be offered to customers applying for fresh loans, loan transfers, or looking to refinance their existing loans. from Banking/Finance-Industry-Economic Times https://ift.tt/3Dh95...

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Former SBI chairman Rajnish Kumar's memoirs to release on October 18

Rajnish Kumar joined SBI as a probationary officer in 1980. Later, he served as the chairman from October 2017-October 2020. from Banking/Finance-Industry-Economic Times https://ift.tt/3iHSu...

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Life insurance companies poised for strong Q2

Elara Securities expects the top four life insurers - HDFC Life, ICICI Prudential Life, Max Life and SBI Life - to post an annualised premium equivalent (APE) growth of between 14% and 34% in the second quarter. from Banking/Finance-Industry-Economic Times https://ift.tt/306HG...

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Exim Bank targets 8-10% loan growth in FY2022, says Managing Director Harsha Bangari

In the fiscal ended March 31, 2021, Exim Bank's loan portfolio grew by 4.43 per cent to Rs 1,03,851 crore compared to Rs 99,447 crore in FY2020. from Banking/Finance-Industry-Economic Times https://ift.tt/3agms...

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Bombay HC dismisses petition by Srei promoters

The RBI can now move the National Company Law Tribunal to initiate proceedings against the two companies from Business Line - Money & Banking https://ift.tt/3Bk5n...

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Bombay HC dismisses Srei Group petition against RBI bankruptcy move

A division bench of Justices Ujjal Bhuyan and Madhav Jamdar, after hearing both sides dismissed the petition in an oral order and observed that the court is not inclined to entertain the matter further as there was no merit to it. from Banking/Finance-Industry-Economic Times https://ift.tt/3mzXR...

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ICICI Bank executes first term loan derivative deal linked to SOFR

The transactions were carried out with a corporate client through the Bank’s International offices. The value of the transaction will be a tiny one going by the industry trend. "Transaction value would be in the range of $15-20 million," said a market source. from Banking/Finance-Industry-Economic Times https://ift.tt/3FtbJ...

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‘We want to have more ‘buy now, pay later’ customers than any card company’

MobiKwik co-founder Upasana Taku outlines the payment company’s post-IPO plans from Business Line - Money & Banking https://ift.tt/3AkbG...

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BoB pares home loan rate by 25 bps

This special rate is valid till December 31 and is available for customers applying for fresh loans and those seeking loan transfer from Business Line - Money & Banking https://ift.tt/3lh9I...

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Nivesh Sanskar- Beating inflation with your investments

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

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Practice the Bandha Sarvangasan and the Trikonasan

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

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Learn to calculate returns and make more informed decisions

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

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CoinSwitch Kuber is India’s 2nd crypto unicorn

Despite regulatory uncertainty, raises $260-m Series C, Bengaluru start-up valued at $1.9 b from Business Line - Money & Banking https://ift.tt/3Dmfz...

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No time to die: Pramod Puranik

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

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Equitas SFB launches ASBA facility

In association with Aditya Birla Money, the bank provides the facility of instant trading cum demat account that can be activated digitally in minutes. from Banking & Finance – The Financial Express https://ift.tt/3ae0Y...

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Retail loan margins thin, won’t take risks higher than appetite: Sumit Bali, group executive & head – retail lending, Axis Bank

Clearly, we had a very good Q4 as an industry and specifically for us, if you see the numbers, we grew almost 6% quarter-on-quarter. So we went into Q1 of this financial year with that kind of momentum, but post-April 20, the bottom just fell off. from Banking & Finance – The Financial Express https://ift.tt/3Fpuy...

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Foreign banks vie for bigger slice of home loan market

HSBC India reduced home loan interest rates by 10 basis points (bps) to 6.45% per annum. This rate will be applicable on balance transfers by existing customers of other lenders. Citi is offering home loans starting at 6.5% as is South Korea-headquartered Shinhan Bank. from Banking & Finance – The Financial Express https://ift.tt/3lfo1...

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Srei promoter challenges RBI action against group firms in Bombay High Court

The banking regulator had on Monday superseded the boards of directors of Kolkata-based Srei Infrastructure Finance and Srei Equipment Finance citing governance concerns and defaults, and said it will initiate insolvency proceedings against the two firms with the National Company Law Tribunal (NCLT). from Banking/Finance-Industry-Economic Times https://ift.tt/2Ys8R...

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RBI to keep rates unchanged, retain accommodative stance: Abheek Barua

The central bank will announce the fourth bimonthly monetary policy review on Friday amid inflation remaining above its target for two months in row. from Banking/Finance-Industry-Economic Times https://ift.tt/2Yw0G...

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Insurers can maintain current accounts in appropriate number of banks: Irdai

The central bank in its August 2020 circular instructed banks not to open current accounts for customers who have availed of credit facilities in the form of cash credit (CC) / overdraft (OD) from the banking system. from Banking/Finance-Industry-Economic Times https://ift.tt/2Yopf...

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Bank credit grows by 6.67 pc; deposits by 9.34 pc

In the previous fortnight ended September 10, 2021, bank credit had risen by 6.7 per cent and deposits by 9.32 per cent. from Banking/Finance-Industry-Economic Times https://ift.tt/3mLNG...

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Srei promoters move Bombay HC

Promoters of Srei Infrastructure Finance and Srei Equipment Finance have moved the Bombay High Court challenging the Reserve Bank of India’s decision from Business Line - Money & Banking https://ift.tt/2WMit...

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Visa launches CoF tokenisation service for Grofers, BigBasket and MakeMyTrip

RBI guidelines mandate replacing actual card data with encrypted digital tokens from Business Line - Money & Banking https://ift.tt/3li7t...

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Bank of India kick starts Outreach Programme

The public sector lender started its pan India intiative from Srinagar, and will seek to further promote banking schemes like PM Svanidhi, MSME Mudra Loan and social security schemes. from Banking/Finance-Industry-Economic Times https://ift.tt/3mvAM...

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Moody's affirms ratings of 9 Indian banks, changes outlook to stable

Moody’s also affirmed the long-term local and foreign currency deposit ratings of Bank of Baroda, Canara Bank, Punjab National Bank and Union Bank of India. The rating outlooks of these banks has also been changed to stable from negative. from Banking/Finance-Industry-Economic Times https://ift.tt/3AgP0...

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Visa launches India’s first Card-on-File tokenization service for merchants

The RBI’s recent CoF tokenization guidelines mandate replacing the actual card data with encrypted digital tokens, which are then used to facilitate and authenticate transactions. This devaluation of sensitive card details alleviates risk and reduces vulnerability of sensitive data, as only tokens are present in transit, across the ‘in-rest’ and ‘in-use’ phases. from Banking/Finance-Industry-Economic Times https://ift.tt/3uNAG...

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Affordable Housing Finance Companies bear the brunt of Covid: ICRA

The growth in the loan book for such companies moderated to 10% year on year at the end of the March 2021 quarter due to the lockdowns following Covid wave 2; while portfolio remained flat as on June 30, 2021, as compared with March 31, 2021. from Banking/Finance-Industry-Economic Times https://ift.tt/3Fkmy...

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CoinSwitch Kuber bags $260 million funding, turns unicorn

Coinbase Ventures and Andreessen Horowitz (a16z) are among the newer investors in the Series C round from Business Line - Money & Banking https://ift.tt/3FwoT...

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Bharatpe enters ‘Buy Now Pay Later’ segment

Launches postpe; aims to facilitate a loan book of $300 million in the first 12 months from Business Line - Money & Banking https://ift.tt/3uMIJ...

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SBI extends partnership with TCS for another 5 years

TCS will support the bank in launching newer offerings from Business Line - Money & Banking https://ift.tt/3oG0Y...

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IDBI bank unveils attractive offers this festive season

The products would include Auto loans, Education loans, home loans with augmented features. With these offerings, IDBI believes that its products would resonate with the festive and auspicious vibe in each household. from Banking/Finance-Industry-Economic Times https://ift.tt/3lerk...

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Leading companies come together to set up Merchants Payments Alliance of India

Would promote digitalisation and financial literacy in the country from Business Line - Money & Banking https://ift.tt/3mwLe...

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How to deal with emotions in financial markets

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

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Approach to financial planning: Investing and Disinvest

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

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HDFC Bank eyes strategic investor in NBFC arm, sees $9-billion valuation

The discussions are preliminary in nature, but with the management confident of asset quality improving in a post-pandemic economy, this is the right time to kickstart a monetisation exercise, said experts. Some HDFC Group watchers also see this as a precursor to an eventual listing. from Banking/Finance-Industry-Economic Times https://ift.tt/3ah8k...

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Canara Bank cuts MCLR by up to 15 basis points

Other than Canara Bank, DCB Bank also reduced its its marginal cost of funds based lending rate by 0.05 per cent across tenors. It is effective from October 6. from Banking/Finance-Industry-Economic Times https://ift.tt/3a9vh...

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US-based Arena Investors evinced interest to acquire Srei before RBI took control

The Srei group had forwarded the proposal to RBI for a review a couple of months ago, the executives said. Arena is an institutional asset manager that provides solutions for those seeking capital in special situations from Banking/Finance-Industry-Economic Times https://ift.tt/3BfQz...

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Axis Bank economists see RBI holding rates on Friday

"(We se) growth-inflation trade-off" said Saugata Bhattachrya, chief economist at Axis Bank. "There will be focus on ( liquidity) normalisation" With inflation achieved and good progress on its way, a late 2021 taper may be on the way later , said an Axis report. from Banking/Finance-Industry-Economic Times https://ift.tt/3lf4b...

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IDFC First Bank clocks 10 per cent loan growth in Q2

Retail funded assets grew by 7.0% during Q2-FY22 versus year ago. Housing loan registered strong Q-o-Q growth of 11.0% in Q2. from Banking/Finance-Industry-Economic Times https://ift.tt/3a6Gu...

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HDFC AMC files paper for 9 passive funds

The fund house has few passively-managed funds on Nifty and Sensex, one banking sector-linked passive fund and a gold ETF from Business Line - Money & Banking https://ift.tt/3oOi6...

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Festive fervour: Credit card spends zoom 54% over last year

“We are seeing a significant revival on ground, and shows that consumer spending is back, our range of festive offers on credit cards is not just about coming back with a bang but also about spurring India’s consumption story,” said Parag Rao, Group Head - Payments, Consumer Finance, Digital Banking, and IT, HDFC Bank. from Banking/Finance-Industry-Economic Times https://ift.tt/3mu1H...

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Paytm rightfully worth less than $20 billion, says NYU valuation professor

Mapping out Paytm's financial pathway in a scenario in which it remains a dominant digital payments player for the next 10 years, Damodaran argues that even with favorable assumptions, a justifiable valuation of equity would be around $19.6 billion. from Banking/Finance-Industry-Economic Times https://ift.tt/2ZOG0...

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HDFC Bank reports 15.4 per cent growth in advances

Disbursements rise for most lenders in Q2 from Business Line - Money & Banking https://ift.tt/3oAXe...

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Kotak Mahindra Bank becomes 1st scheduled private sector bank to collect direct, indirect taxes

With this, the bank becomes the first scheduled private sector bank to receive approval after the announcement by Finance Minister Nirmala Sitharaman allowing all banks to participate in government-related business. from Banking/Finance-Industry-Economic Times https://ift.tt/3uJzI...

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HDFC Bank posts strong loan growth in September quarter

Retail loans grew by around 13% over September quarter last year and 5.5% over June. Commercial and rural banking loans grew by around 27.5% year-on-year at the end of the September 2021 quarter while other wholesale loans grew by around 6%. from Banking/Finance-Industry-Economic Times https://ift.tt/3oAnd...

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MFI body Sa-Dhan writes to FM seeking Rs 7,500 crores towards Credit Guarantee Scheme

“We would like to take this opportunity to request you to approve an additional amount of Rs 7500 crores for the Credit Guarantee Scheme for the MFIs,” the letter states. “The additional amounts will support the funds flow for MFIs with lower grading, which are smaller and cater to poorer sections and remoter areas.” from Banking/Finance-Industry-Economic Times https://ift.tt/3uFg2...

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