Indiabulls Housing Finance to raise up to ₹1,000 crore via NCD

Depending on the tenor and series of NCD, the effective yield per annum ranges from 8.35 per cent to 9.26 per cent from Business Line - Money & Banking https://ift.tt/3xTDR...

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RBI may deflate hype around reverse repo rate hike: SBI report

The Ecowrap emphasised delaying normalisation measures is prudent in current situation which would give time for economic recovery from Business Line - Money & Banking https://ift.tt/3lyv9...

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How Financial Inclusion is playing a vital role in the Banking Sector

Financial inclusion is about delivering banking services to all sections of society. Primarily, it’s enabling to reduce the economic gap between the rich and the poor with an aim to lead economic progression in the country. from Banking & Finance – The Financial Express https://ift.tt/3Dn86...

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RBI's insolvency move against Reliance Capital may face hiccups

Lenders hope that the central bank does not direct a consolidated resolution of all three financial services companies which will mean all the work carried out so far to find a buyer for RCFL and RHFL will be down the drain. from Banking/Finance-Industry-Economic Times https://ift.tt/3pqnu...

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Market competition, lower credit offtake push banks to pursue credit growth at lower yields

Gupta added that presently banks are not witnessing a significant impact on their net interest margins (NIMs) despite lower yields because of lower cost of funds. from Banking & Finance – The Financial Express https://ift.tt/2ZSv2...

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City Union Bank to start pushing non-gold loan advances by FY22-end

He said that post Covid, only 4% to 5% of the transactions has been happening through the branches creating a huge capacity once the growth pace picks up. from Banking & Finance – The Financial Express https://ift.tt/31rFa...

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India Ratings: RBI’s new norms likely to increase NBFCs’ bad loans by one-third

On November 12, the central bank said loan accounts classified as NPAs may be upgraded to ‘standard’ assets only if the entire arrears of interest and principal are paid by the borrower. The rule will apply to both banks and NBFCs. from Banking & Finance – The Financial Express https://ift.tt/3do8C...

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Federal Bank sells ITNL owned Chenani Nashri Tunnel debt to ACRE at 25% discount

​​An income of Rs 700 crore through annuity by the company was distributed to lenders early this year. IL&FS group companies have a total exposure of Rs 1,295 crore in a combination of debt and equity in CNTL while other financial creditors have an exposure of Rs 4159 crore, documents show. from Banking/Finance-Industry-Economic Times https://ift.tt/3GaqJ...

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Indian banks behind the curve in tapping payments tech: Uday Kotak

On the homegrown payments ecosystem, Kotak said UPI payments as well as Aadhaar unique identity basis for transactions are remarkable innovations and they could be exported globally. from Banking/Finance-Industry-Economic Times https://ift.tt/3GeTm...

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Tata AIA Life Insurance bets on 40% growth over next 3 years

Plans to ramp up presence in the southern markets from Business Line - Money & Banking https://ift.tt/3Il5e...

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Indian banks behind the curve on payments: Uday Kotak

MD & CEO of Kotak Mahindra says that consumer protection is a must while fintechs grow from Business Line - Money & Banking https://ift.tt/3lx17...

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Bank employee associations plns to fight against government plan to privatise public sector banks

In the Union Budget presented in February, Finance Minister Nirmala Sitharaman had announced the privatisation of two public sector banks (PSBs) as part of its disinvestment plan. from Banking/Finance-Industry-Economic Times https://ift.tt/3xPeg...

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Reliance Nippon Life aims at over 20 pc growth in new biz premium in FY22

"In the current fiscal (year-till-date October), our new premium growth has been 20 per cent. We look forward to improving our performance in the rest of the financial year and grow over 20 per cent (for fiscal 2022)," the company's Executive Director and CEO Ashish's Vohra told PTI. from Banking/Finance-Industry-Economic Times https://ift.tt/3lvYb...

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Aggregate bank deposits slump in fortnight to November 19 after abrupt rise in previous 15 days: Report

While November 2016 was due to the demonetisation and the March and April of the same year could be attributed to seasonal year-end bulge, Soumya Kanti Ghosh, the chief economic adviser to the State Bank Group, said in a note on Friday. from Banking/Finance-Industry-Economic Times https://ift.tt/3I9Or...

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TVS Emerald announces new finance scheme to home-buyers

An aspiring home-buyer needs to pay 10 per cent as booking charge and 85 per cent of payment after two years on completion of flooring of the purchased unit. The balance 5 per cent can be payable during the possession of the apartment, the statement said. from Banking/Finance-Industry-Economic Times https://ift.tt/3EmPG...

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NBFC NPAs could increase by a third due to tightening of norms: Ind-Ra

Ind-Ra noted that NBFCs have represented to the RBI for providing a transition period on this requirement from Business Line - Money & Banking https://ift.tt/3olMc...

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PMC Bank fraud case: SC refuses to entertain bail plea of Rakesh Wadhawan, asks him to approach HC

The Supreme Court Friday refused to entertain the bail plea filed on health grounds by jailed businessman Rakesh Wadhawan, accused of money laundering in the multi-crore rupees Punjab and Maharashtra Co-operative (PMC) Bank fraud case, saying that he has been in hospital more than the jail. from Banking/Finance-Industry-Economic Times https://ift.tt/2ZPTd...

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Aadhaar looking to go global

UIDAI CEO Saurabh Garg during a panel discussion with Paytm founder Vijay Shekhar Sharma at the Infinity Forum said the authority is also exploring emerging technology to enhance security and increase the number of transactions that can be done by using Aadhaar. from Banking/Finance-Industry-Economic Times https://ift.tt/31hVU...

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Time to convert fintech initiatives into revolution: PM Modi

Fintech revolution should achieve financial empowerment of every citizen; also says Gift City is the gateway to the global Fintech world from Business Line - Money & Banking https://ift.tt/31u4d...

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Deposit growth in alternative fortnights a contrarian trend: SBI Ecowrap

Aggregate deposits slumped by ₹2.7 lakh crore during the fortnight ended Nov. 19 after a record ₹3.3 lakh crore fortnightly increase during the Diwali week from Business Line - Money & Banking https://ift.tt/3Dl5m...

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Canara Bank raises ₹1,500 crore via AT1 bonds

The AT1 instrument is perpetual, and the issuer can call back after five years. from Business Line - Money & Banking https://ift.tt/31tWr...

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Need to convert Fintech initiatives into Fintech revolution: PM Modi

Speaking at the InFinity Forum, Modi said technology is bringing a big shift in finance, and mobile payment last year exceeded ATM withdrawals. Fully digital banks without any physical branch offices are already a reality and may become commonplace in less than a decade, he said. from Banking/Finance-Industry-Economic Times https://ift.tt/31wpP...

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In a contrarian trend, aggregate bank deposit slump after abrupt increase in Nov

Aggregate deposits slumped by ₹2.7 lakh crore during the fortnight ended Nov. 19 after a record ₹3.3 lakh crore fortnightly increase never happened during a Diwali week: SBI Ecowrap from Business Line - Money & Banking https://ift.tt/3xNe0...

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FIDC seeks relaxation on IRACP norms

It has also requested the new norms for SMA and NPA classification may be aligned with the date of effect of Scale Based Regulations from October 1, 2022 for NBFCs in all layers from Business Line - Money & Banking https://ift.tt/3DhQb...

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Pradip Shah appointed NARCL Chairman; Sanjay Jain made IDRCL chief

Shah, an MBA from Harvard and chartered accountant, is credited for establishing India's first and largest housing finance company, HDFC, and ratings firm Crisil. from Banking/Finance-Industry-Economic Times https://ift.tt/31ss5...

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SBI, Adani Capital sign pact for co-lending to farmers

Registered in 2017, Adani Capital is a non-deposit taking systemically important NBFC with total assets under management (AUM) of Rs 1,292 crore as on March 31. from Banking & Finance – The Financial Express https://ift.tt/3Ic43...

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Shriram City records highest-ever 2-wheeler loans of Rs 1,022 cr in November

With the increasing demand for electric vehicles (EVs), the NBFC foresees a rise in the average loan ticket size which will help in touching new milestones, according to a company release. from Banking & Finance – The Financial Express https://ift.tt/3xPPB...

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Dhanlaxmi Bank’s part-time chairman resigns from board

The Kerala-based bank has been in the news recently for all the wrong reasons, including an RBI advisory to ensure transparency in the nomination process of directors and follow best corporate governance practices. from Banking & Finance – The Financial Express https://ift.tt/3dkLi...

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Wondering if you should invest in Flexi Cap Funds? Here's what you need to know

Flexi Cap Funds are a new category of mutual funds, which invest a minimum of 65% of its fund corpus in equity. In this fund category, the fund manager has the flexibility to take exposure to Large Cap, Mid Cap, and Small Cap segments without any restrictions. from Banking/Finance-Industry-Economic Times https://ift.tt/32XiI...

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KreditBee partners with Mswipe to offer ‘cardless EMI’ at retail stores

KreditBee will provide ‘pay later’ options for purchases of up to ₹100,000, which can be converted into EMI ranging from 3 to 12 months from Business Line - Money & Banking https://ift.tt/3Dh9a...

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DBS revises India’s FY2023 growth forecast by 100 bps to 7%

The Singapore-based Bank’s economic research team observed that the 7 per cent y-o-y growth rate in FY23 will be amongst the fastest in its Asia-10 universe from Business Line - Money & Banking https://ift.tt/32U9a...

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Insurance web aggregators: Gift City regulator seeks public comments on draft regulations

The comments need to be submitted by December 20 to IFSCA from Business Line - Money & Banking https://ift.tt/3xKDn...

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Stride Ventures leads ₹7 crore debt funding round in sustainable footwear brand Neeman’s

The amount will be done through Stride Ventures India Fund - II and will be utilised by the shoe brand for expanding its portfolio from Business Line - Money & Banking https://ift.tt/3G6AU...

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SBI join hands with Adani Capital for co-lending to farmers

State Bank of India (SBI) has signed a master agreement with Adani Capital Private Ltd (Adani Capital), the NBFC arm of Adani Group, for co-lending to farmers for purchase of tractor and farm implements, to increase efficiency in farm operations and productivity of crops, SBI said in a release on Thursday. from Banking/Finance-Industry-Economic Times https://ift.tt/3Elw5...

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PMC Bank depositors to weigh legal options if scheme of amalgamation not modified

Chander Purswani, President, PMC Depositors Forum opined that RBI should allow individual depositors to withdraw 20-25 per cent of the balance in their deposits each year from Business Line - Money & Banking https://ift.tt/3xLmc...

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SBI signs master agreement with Adani Capital for co-lending to farmers

The lender said with this partnership it would be able to target farmer customers in the hinterland looking for adoption of farm mechanisation to enhance productivity of crops from Business Line - Money & Banking https://ift.tt/3ocQj...

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Paytm signs MoU with Skill Development Ministry to train youngsters in fintech

Selected individuals will undertake a six-month programme designed by Paytm from Business Line - Money & Banking https://ift.tt/31mq8...

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To enable EMIs on its debit cards, Kotak Mahindra Bank ties up with Worldline

The minimum purchase value for this facility is ₹5,000, and customers have the flexibility to repay over tenures between 3 to 12 months. from Business Line - Money & Banking https://ift.tt/3GcKZ...

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Federal Bank launches an exclusive feature-rich scheme for women

Includes exclusive preferential interest rates on housing loans, processing fee waiver for home loans from Business Line - Money & Banking https://ift.tt/31lN8...

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Capital expenditure by Central and State governments crossed their pre-pandemic levels faster than GDP: Crisil

While Covid necessitated huge spends by governments around the world, there was a simultaneous decline in their revenues from Business Line - Money & Banking https://ift.tt/3Dfnb...

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Explainer: Neo-banks Vs traditional banking

Neo-banks disrupt the banking system by leveraging tech while the traditional banks follow an omni-channel approach from Business Line - Money & Banking https://ift.tt/3xKp3...

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How Nabard fast-tracked approval time to just 5 days during the pandemic

The bank has seen has a huge demand from State govts for funds to set up hospitals, medical colleges from Business Line - Money & Banking https://ift.tt/3oe6X...

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Visa CEO: Covid caused permanent shift to digital payments

While the shift to online shopping is helping Visa, the company is facing new forms of competition, particularly from Silicon Valley from Business Line - Money & Banking https://ift.tt/3DeU9...

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Cryptos, far from the regulators’ glare

Tech-based innovations such as cryptos and digital lending grow silently. They must be checked early to prevent disruptions from Business Line - Money & Banking https://ift.tt/3Djo8...

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RBI's action against Reliance Capital: Better late than never

As a practical matter, a company can't be referred to the National Company Law Tribunal (NCLT) within weeks and months of a first default. The promoters should be given a fair chance to revive the company. from Banking/Finance-Industry-Economic Times https://ift.tt/3Eet2...

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Changes in Banking Regulation Act in works

The move is aimed at aligning certain sections of the Banking Regulation Act with the norms stipulated by the banking regulator, Reserve Bank of India. from Banking/Finance-Industry-Economic Times https://ift.tt/3lpP8...

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Gift City's regulator wants more say in fund formation for business district

Since IFSC is treated as 'foreign territory' from exchange control perspectives, capital infusion for setting up a fund in the IFSC is considered as 'outbound investment' for floating an offshore financial services subsidiary from Banking/Finance-Industry-Economic Times https://ift.tt/31lIm...

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India's new crypto law set to red-flag chit fund, MLM business models

Regulators including the Reserve Bank of India (RBI) and Securities and Exchange Board of India (Sebi) have raised concerns before a parliamentary panel about how some individual investors are collecting money in small towns - with business models resembling those of chit funds - for investing in crypto assets. from Banking/Finance-Industry-Economic Times https://ift.tt/3xHHn...

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Bank credit to industry revives, but real estate, education loans lag

According to RBI's data, credit to industry sector increased 4.1% on year to Rs 28,54,571 crore as on October 22. On the other hand, loans to commercial real estate fell 0.5% on year to Rs 2,53,582 crore while education loans credit deployment by banks by 8.7% to Rs 47,260 crore. from Banking & Finance – The Financial Express https://ift.tt/3o8rR...

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FSS launches UPI eVoucher to advance financial inclusion

The UPI eVoucher enables customers to transfer funds for a specific purpose in real-time to any mobile number, regardless of whether the beneficiary has a bank account, the company said in a statement. from Banking/Finance-Industry-Economic Times https://ift.tt/3pfvt...

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Private sector banks lower lending rates more than PSU Banks during the pandemic

Weighted average lending rates for outstanding rupee loans of commercial banks fell 96 basis points- bps (one basis point is 0.01 per cent) between March 2020 and October 21, data released by the RBI indicates. from Banking/Finance-Industry-Economic Times https://ift.tt/3d6Sw...

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SBI to engage consultant for performance evaluation of Directors

The parameters that the consultant draws up for performance evaluation will include the aspects suggested by Nomination & Remuneration Committee of the Bank from Business Line - Money & Banking https://ift.tt/3d6M8...

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Bank unions call for two-day nationwide bank strike on Dec 16-17

Seek to oppose plan to privatise banks from Business Line - Money & Banking https://ift.tt/3obdl...

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Bank unions threaten two-day nationwide strike against proposed privatisation of PSBs

The government has already privatised IDBI Bank by selling its majority stake in the lender to LIC in 2019 and merged 14 public sector banks in the past four years. from Banking/Finance-Industry-Economic Times https://ift.tt/3G3fQ...

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Fintech start-up Simpl raises $40 million Series B from Valar Ventures, IA Ventures

Simpl’s flagship product is a ‘buy now pay later’ offering called 1-tap Pay Later from Business Line - Money & Banking https://ift.tt/3oaDX...

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Deutsche Bank expands wealth management team in India

Hires more staff for relationship management and investment advisory services from Business Line - Money & Banking https://ift.tt/3Dapv...

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CRED to acquire Happay for $180 million

Fintech sees corporate expense management as natural extension of its credit card services from Business Line - Money & Banking https://ift.tt/3lnIM...

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Sumitomo Mitsui Financial acquires 74.9% stake in Fullerton India

Acquisition gives the Japanese company a pan-India presence from Business Line - Money & Banking https://ift.tt/3rtCk...

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Marginal decline in digital payments in November

The number of transactions through the UPI declined marginally to 418 crore in November 2021 compared to 421 crore transactions recorded in October from Business Line - Money & Banking https://ift.tt/3ocko...

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Deutsche Bank strengthens wealth management team in India

Among the new hires are Rajasekar Ayyalu who will take over as director in Chennai where he will be responsible for expanding and deepening Deutsche Bank’s presence in South India. Ayyalu was executive director (investments) at Julius Baer. from Banking/Finance-Industry-Economic Times https://ift.tt/32T2E...

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Sumitomo Mitsui completes purchase of 74.9 pc stake in Fullerton India

As part of the transaction, Fullerton India's board will be reconstituted to comprise Nobuyuki Kawabata, Rajeev Veeravalli Kannan, Hong Ping Yeo, Anindo Mukherjee, Shantanu Mitra, Shirish Moreshwar Apte, Milan Robert Shuster and Sudha Pillai, the release said. from Banking/Finance-Industry-Economic Times https://ift.tt/3rnpI...

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States need to take credible steps to address debt sustainability concerns: RBI report

The combined debt-to-GDP ratio of States, which stood at 31% at end-March 2021 and is expected to remain at this level by end-March 2022, is worryingly higher, it says from Business Line - Money & Banking https://ift.tt/3EeCr...

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PB Fintech arm invests ₹10.8 crore more in Visit Health, holds minority stake

Visit Health is engaged in the business of providing healthcare and wellness through website and mobile application from Business Line - Money & Banking https://ift.tt/3roVS...

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SBI Ecowrap: Private investment revival seems around the horizon

GDP growth likely to top 9.5% in FY22 from Business Line - Money & Banking https://ift.tt/3pfPg...

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HDFC, Axis Bank sold Reliance Capital debt facilities to ACRE

HDFC and Axis Bank were the only two lenders that had provided term loans to RCap, according to the company's annual report for the financial year March 31, 2021. from Banking/Finance-Industry-Economic Times https://ift.tt/3d7XQ...

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Only half recovery likely for Reliance Capital bondholders

Large institutional investors, including LIC and Employee Provident Fund Organisation (EPFO), collectively own about ₹6,000 crore of RCap bonds. They are also expected to report considerable recoveries. from Banking/Finance-Industry-Economic Times https://ift.tt/3pcyg...

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Srei: Administrator admits Rs 22,910 cr claims from banks

Administrator Rajneesh Sharma has rejected claims of around Rs 1,604.63 crore by the commercial banks, while Rs 601.37 crore is under verification as of November 19. from Banking & Finance – The Financial Express https://ift.tt/31iGN...

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ESG, Green bond issues rise sharply in 2021 as Indian firms promote sustainable business

Dealers said companies get better rates on their ESG instruments rather than the normal fundraising instruments. Bank of America has made a global $1.5 billion sustainable finance commitment by 2030, which will focus on environment transition and development aligned to the United Nations sustainable development goal. from Banking & Finance – The Financial Express https://ift.tt/3d1zm...

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Collections near normal level, but smaller MFIs still facing liquidity crunch, says CreditAccess Grameen MD

Hebbar said smaller MFIs with a portfolio of less than Rs 500 crore find it difficult to acquire funds because of their dependency on borrowing largely from non-banking finance companies (NBFCs) and other informal sources. Mainstream banks not extending credit is an issue. from Banking & Finance – The Financial Express https://ift.tt/3xEge...

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PB Fintech arm invests Rs 10.8 cr more in Visit Health, holds minority stake

Visit Health is engaged in the business of providing healthcare and wellness through website and mobile application. from Banking/Finance-Industry-Economic Times https://ift.tt/2ZCHy...

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Dynamic asset allocation products and their importance

From data experience, liquidity criteria and tax point of view we have observed that debt and equity are the best investment opportunities for asset allocation which successfully covers all required aspects of investments. from Banking/Finance-Industry-Economic Times https://ift.tt/3E7CH...

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Edelweiss Financial Services to raise up to ₹500 crore

Edelweiss will raise the funds via public issue of secured, redeemable, non-convertible debentures of face value ₹1,000 each from Business Line - Money & Banking https://ift.tt/3pgew...

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Unwise to place a ban on private crypto assets: Report

It advocates a balanced regulatory approach that addresses concerns of fiscal stability, money laundering, investor protection from Business Line - Money & Banking https://ift.tt/3o8gB...

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India could be the third-largest economy in the next decade; MFs may be one of the major beneficiaries

Branch Network plays an important role in reaching out to the masses for investments. Where there is a branch whether it’s a category B town, village panchayat, tehsil, gram panchayat the branch is playing its part in promoting the “Mutual Funds Sahi Hai concept”. from Banking/Finance-Industry-Economic Times https://ift.tt/3I3o7...

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Three things banks need to keep in mind before leading a digital transformation

Fintechs are promoting a vision of a world without banks. Blockchains and cryptocurrencies have taken over paper money or credit cards. In short, fintechs are facilitating a fast, seamless, immersive, cross-channel digital experience that customers have always wanted. It is satisfying their needs and bringing to them so much more that they can anticipate. from Banking/Finance-Industry-Economic Times https://ift.tt/3G0BN...

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Gen Z hardest hit professionally by the economic impact of Covid-19: Report

Report is based on ADP’s survey of more than 32,000 adult workers across 17 countries from Business Line - Money & Banking https://ift.tt/3o6UC...

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NBFC Agriwise Finserv partners Central Bank of India for agri loan disbursals

Co-lending pact between Agriwise Finserv and Central Bank of India seeks to disburse agri loans speedily from Business Line - Money & Banking https://ift.tt/3Dj3V...

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Reverse repo hike to be split between Dec and Feb policy reviews: Acuité

The anticipated move in reverse repo rate from 3.35 per cent currently to 3.75 per cent by February 2022 would help restore the width of the policy rate corridor to its normal level from Business Line - Money & Banking https://ift.tt/3FQHx...

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Supreme Court stays notice by UP police on Yes Bank in Dish TV case

Yes Bank can now participate in the Dish TV AGM from Business Line - Money & Banking https://ift.tt/3o2mD...

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Outlook for Indian banks is stable, says Moody's

“Pickup in activity levels will drive credit growth, with positive effects to asset risks,” the global rating company said in a report on banks in the emerging market. from Banking/Finance-Industry-Economic Times https://ift.tt/3D6sE...

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Paytm launches card tokenisation for online transactions

Partners Visa, Mastercard and Rupay to launch the Paytm Token Gateway from Business Line - Money & Banking https://ift.tt/3ljWE...

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The unraveling of Reliance Capital shows why RBI hates big business in banking

The unraveling of Reliance Capital Ltd. shows why the Reserve Bank of India remains reluctant to allow big business groups into mom-and-pop banking, despite facing huge pressure to allow a wave of corporate capital into the industry and reignite credit growth. The financiers’ potential to do harm is lethal even without access to insured deposits. from Banking/Finance-Industry-Economic Times https://ift.tt/3lkCx...

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WhatsApp gets NPCI nod for doubling payments user base

The development comes at a time when concerns over big tech firms' play in the financial sector are being expressed unequivocally by regulators from Business Line - Money & Banking https://ift.tt/3ljEj...

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Cashfree Payments invests $15 million in UAE-based Telr

The investment will enable Cashfree to launch its offerings in the MENA region from Business Line - Money & Banking https://ift.tt/32P6U...

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Nivesh forays into insurance space with Samavesh

The insurance platform will cater to both urban and rural customers and will be a pan-India initiative, offering all kinds of insurance products in the market. from Banking/Finance-Industry-Economic Times https://ift.tt/3E6Wt...

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Industry bodies urge RBI to scrap daily loan asset classification norm

In their letter to the RBI the industry bodies have argued that the strict day-to-day payments based classification would be hard to implement for the borrowers serviced by them as their cash flows and supplies are haphazard. These borrowers make lump sum payments. from Banking/Finance-Industry-Economic Times https://ift.tt/3p9xY...

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GST on notice pay, group insurance, phone bill: AAR

This tax complication comes at a time when top companies are complaining of high attrition. The ruling in the case of Bharat Oman Refineries is set to result in scrutiny by the tax department in the coming months as there's already confusion over the issue. from Banking/Finance-Industry-Economic Times https://ift.tt/3rjoI...

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CAG flags treatment of bank recap expenditure in FY18-19

According to CAG, the finance ministry had stated that bank recapitalisation was not fiscally neutral but cash neutral, as issue of securities would get reflected in the total government debt and coupon payments for the special securities when made would be reflected in the deficit of the relevant year. from Banking/Finance-Industry-Economic Times https://ift.tt/3E7Mb...

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Resignation of Bharat Fin CEO, CFO under board consideration: IndusInd

The private bank, however, said the board of BFIL had deferred consideration of the decision to relieve him from services till completion of an ongoing review. from Banking & Finance – The Financial Express https://ift.tt/3rlke...

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India Inc’s CSR spend declines sharply to ₹8,828.11 crore in FY’20-21

As many as 1,599 non-PSUs and 20 are PSUs have done CSR spending from Business Line - Money & Banking https://ift.tt/3Ge8h...

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Branches added by banks in FY21 at a decade low

Digitisation, consolidation and rise of alternative channels seen as reasons from Business Line - Money & Banking https://ift.tt/3xBrE...

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Padmaja Reddy questions collection efficiency of Spandana Sphoorty in Q2

Spandana board says remarks ‘uncalled for and potentially harmful to the company’ from Business Line - Money & Banking https://ift.tt/3177w...

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UP police files FIR against SREI promoters, directors

Case relates to alleged bank fraud from Business Line - Money & Banking https://ift.tt/3cYLd...

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Over 12k depositors of B'luru-based coop bank receive deposit insurance cover of Rs 401 cr

Sri Guru Raghavendra Sahakara Bank Niyamitha , located in Surya's Loka Sabha constituency Bengaluru South, received a total of Rs 753.61 crore as deposit insurance from the Deposit Insurance and Credit Guarantee Corporation (DICGC) towards 21,983 claims, he said. from Banking/Finance-Industry-Economic Times https://ift.tt/3FWj8...

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MSME, microfinance, unsecured loans to be worst hit by new NPA norms for NBFCs: Crisil

Impact of the new RBI norms on unsecured loans NPA is expected to be in the range of 1.5-3.0%, for MSME finance it is expected to be in the range of 1.0-3.0% and 1.0-2.0% for vehicle finance. The impact is expected to be muted for Home loans NPA and is estimated between 0.25-1.25%m, 0.25-1% for dold loans and 0.25-1.0% for wholesale finance. from Banking/Finance-Industry-Economic Times https://ift.tt/3rkfL...

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No immediate plan for IPO, says CoinDCX

Cryptocurrency exchange CoinDCX has said there is no immediate plan in the foreseeable future to announce an initial public offering.“We would like to from Business Line - Money & Banking https://ift.tt/3xxl8...

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NBFCs assets to improve on tailwinds, says Crisil Ratings

AUM of these shadow banks set to grow by 8-10 per cent to ₹30-lakh crore in FY23 from Business Line - Money & Banking https://ift.tt/3p6Ch...

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IndusInd Bank board yet to decide on Shalabh Saxena, Ashish Damani’s resignation from Bharat Financial Services

The lender is reviewing disbursal of nearly 84,000 loans without customer consent due to a technical glitch at the microfinance subsidiary from Business Line - Money & Banking https://ift.tt/3HWp3...

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NBFCs AUM likely to grow 8-10% in FY'23: Report

According to a report by Crisil Ratings, retail loans are expected to see reasonably broad-based growth in the current and next fiscals supported by pick-up in demand and consequently underlying sales. from Banking/Finance-Industry-Economic Times https://ift.tt/3o2TZ...

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SBI enters into co-lending arrangement with Capri Global Capital

This association will offer strategic and customised financing solutions to the underserved MSMEs of the country in line with RBI guidelines from Business Line - Money & Banking https://ift.tt/3xzDF...

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Cryptocurrencies yet to recover from last week’s crash

Last week, the prices across tokens dropped around 15-20 per cent overnight from Business Line - Money & Banking https://ift.tt/3FW9H...

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RBI gives approval to LIC to hike stake in Kotak Bank to 9.99%

The approval is valid for a period of one year from Business Line - Money & Banking https://ift.tt/3I1g5...

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No plan to use Bitcoin as currency: FM

RBI urges the Centre to amend RBI Act 1934 to widen the definition of bank notes to include digital currency from Business Line - Money & Banking https://ift.tt/3E59y...

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LIC gets RBI's approval to increase stake in Kotak Mahindra Bank

Kotak Mahindra Bank informed the exchanges on Monday that the Life Insurance Corporation of India has received the Reserve Bank of India's approval to increase its stake in the company up to 9.99%. from Banking/Finance-Industry-Economic Times https://ift.tt/3xwJs...

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Bharat Financial Inclusion top officials resign

Top executives of Bharat Financial Inclusion (BFIL), a fully-owned subsidiary of IndusInd Bank, have resigned from the company last week, the bank said on Monday. The bank said it has appointed an Executive Director and another person to oversee the day-to-day operations of the company. from Banking/Finance-Industry-Economic Times https://ift.tt/3lij1...

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RBI urges govt to bring legislative changes to facilitate digital currency

RBI’s request to be incorporated in ‘The Cryptocurrency and Regulation of Official Digital Currency Bill’ from Business Line - Money & Banking https://ift.tt/3lhRM...

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Bharti AXA Life posts 33% growth in weighted new biz premium in H1FY22

The insurer's asset under management witnessed a strong growth of 28 per cent and has doubled over the past three years. from Banking/Finance-Industry-Economic Times https://ift.tt/3D3OT...

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View: Dear RBI, don’t penalise consumers and merchants for non-compliance by other stakeholders

While the RBI must be lauded for its visionary stance of mandating CoFT in the interest of promoting safe and secure digital payments for consumers, there exist implementation challenges, which may bear unintended adverse consequences for consumers and merchants. from Banking/Finance-Industry-Economic Times https://ift.tt/32v3i...

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SIPs in Debt Funds - Here’s why they are beneficial to investors

The MF industry is closely regulated and monitored by the regulator, the Securities and Exchange Board of India (SEBI). Regulations put in place by SEBI keep tight reins on the risk profile of investments, concentration of risk in funds, valuation of investments and the compliance of funds with its goals. from Banking/Finance-Industry-Economic Times https://ift.tt/3FWQx...

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Omicron Covid variant: Policymakers, markets will shoot from the hip without data, says Uday Kotak

Kotak's comment comes even as many countries have once again begun shutting down cross-border travel from Business Line - Money & Banking https://ift.tt/3rqkI...

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Bharat Financial top management resignations: Board defers relieving them till completion of review, says IndusInd Bank

The microfinance company is reviewing the disbursal of loans without customer consent due to a technical glitch. from Business Line - Money & Banking https://ift.tt/3p2tF...

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Paytm Payments Bank rolls out ‘Paytm Transit card’

The card can be used for travel in metros, buses and trains, toll and parking charges, payment at offline and online stores and withdrawal of cash from ATMs from Business Line - Money & Banking https://ift.tt/3cZ93...

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Fedo launches “Health Savings Account” in partnership with neo bank Open

Fedo said that there is a very large and urgent need to simplify and bridge the financing gap between insurance policy coverage and hospitalization expenses. This offering will enhance the value proposition for insurers and banks alike, and more importantly will address the needs of consumers, with empathy. from Banking/Finance-Industry-Economic Times https://ift.tt/3FYDt...

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NBFCs eyeing bank tag face a long wait, tighter regulations

Analysts say NBFCs face their own challenges in terms of the rising cost of funds and higher capital requirements and a bank licence is not on the horizon for the next few years. from Banking/Finance-Industry-Economic Times https://ift.tt/3FUzh...

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Crypto exchanges see their new sign-ups dip amid uncertainty

Crypto exchanges have recorded a 15-50% drop in new sign-ups in November so far. They have also posted a dip in their monthly transactions after some investors squared off positions and adopted a “wait and watch” mode. from Banking/Finance-Industry-Economic Times https://ift.tt/3E26N...

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Slice turns unicorn after raising $220 million from Tiger Global, Insight Partners

Post this funding, the Bengaluru-based startup is valued at over $1 billion—a five times increase since its previous funding round six months ago. from Banking/Finance-Industry-Economic Times https://ift.tt/2ZAJr...

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Religare Finvest debt recast at final stages; NBFC to reboot in January

With debt recast at final stages, Religare Finvest Ltd (RFL) is all set to restart its business come new year 2022, Religare Enterprises Ltd Chairperson Rashmi Saluja said. RFL, a NBFC arm of Religare Enterprises Ltd, has been barred from undertaking fresh business as it is under corrective action plan (CAP) of the Reserve Bank of India (RBI) since January 2018, due to its weak financial health. from Banking/Finance-Industry-Economic Times https://ift.tt/3licq...

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PNB puts up National Steel & Agro Industries for sale to recover Rs 200cr dues

State-owned Punjab National Bank (PNB) has put up a Madhya Pradesh-based steel and agriculture company for sale to recover its outstanding of nearly Rs 200 crore. The National Steel and Agro Industries Ltd has a balance outstanding of Rs 199.90 crore to the bank. from Banking/Finance-Industry-Economic Times https://ift.tt/3D4kX...

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Visa complains to US govt about India backing for local rival RuPay

Mastercard Inc has raised similar concerns privately with the USTR. Reuters reported in 2018 that the company had lodged a protest with the USTR that Modi was using nationalism to promote the local network. from Banking/Finance-Industry-Economic Times https://ift.tt/3reM7...

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