Bond market players want RBI to divide Govt borrowing equally between two halves of FY23

Want enhanced HTM limit to stay; Cite huge borrowing programme and rising bond market yields from The HinduBusinessLine - Money & Banking https://ift.tt/XL6jP...

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Manappuram Finance to raise up to ₹7,800 crore in FY23

from The HinduBusinessLine - Money & Banking https://ift.tt/FsSIe...

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BNPL market expected to grow 10x over the next 5 years: Report

Benori Knowledge report says the Indian market could hit $35–40 billion, become largest in size globally  from The HinduBusinessLine - Money & Banking https://ift.tt/OdYGz...

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RBI discusses trade payment option with Russian banks

Bankers as well as regulators sense that the nature of sanctions in response to Russia's invasion of Ukraine are more serious compared to the curbs that were imposed on transactions with Iran. from Banking/Finance-Industry-Economic Times https://ift.tt/we4ob...

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RBI launches innovation hub with Kris Gopalakrishnan as chairman

The Reserve Bank of India (RBI) on Thursday inaugurated its innovation hub in Bengaluru with former Infosys chief Kris Gopalakrishnan as its chairman. The Reserve Bank Innovation Hub (RBIH) has been set up as a Section 8 company under the Companies Act with an initial capital contribution of Rs 100 crore to encourage financial innovation through an institutional set-up. Speaking at the launch, RBI governor Shaktikanta Das said that the RBIH puts India’s central bank in an exclusive group of select global central banks that are enterprising enough to change the mode of engagement while dealing with innovation. “It also reflects a genuine commitment to have continuous engagement with industry,...

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Shriram Housing partners with SBI for co-lending to affordable housing

Shriram Housing Finance has signed a co-lending agreement with the State Bank of India (SBI) for priority sector affordable home loans, the company said in a release. Both entities will jointly service housing loan customers as per the 20:80 co-lending model of the Reserve Bank of India (RBI). “Together we would be able to serve a much larger customer base, especially borrowers at the bottom of the pyramid. Through the co-lending model, we intend to leverage the balance sheet strength of SBI and our underwriting capabilities,” Ravi Subramanian, MD & CEO of Shriram Housing Finance was quoted as saying in a release. The mortgage lender will originate, process and service the loans. It will...

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IndusInd to sell Future Retail loans to Edelweiss ARC

IndusInd Bank invited offers for the Rs 142 crore secured principal loan given to Kishore Biyani promoted Future Retail and Rs 105 crore principal loan given to Asian Hotel Delhi under the 15:85 basis, the people said. from Banking/Finance-Industry-Economic Times https://ift.tt/ciqSU...

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Banks to undertake special clearing ops on Mar 31 for closure of govt accounts

All government transactions done by agency banks for financial year 2021-22 must be accounted for within the same financial year. from Banking/Finance-Industry-Economic Times https://ift.tt/Z4maD...

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Sebi penalises Axis Bank for violating merchant bankers regulations

The regulator had conducted an examination of the debt capital market operations of Axis Bank during the August 2016 to August 2019 period. It was observed that Axis Bank (noticee) had acted as the merchant banker in respect of 22 public issuances of debt of various companies during the given period. from Banking/Finance-Industry-Economic Times https://ift.tt/8oLe0...

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ANZ becomes first Australian bank to mint stablecoin

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/4p5Lh...

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Indian firms in a huddle with auditors, valuers over Russian investments as fiscal end draws near

Companies including Dr Reddy's Laboratories, Sun Pharmaceuticals, ONGC, BPCL and Indian Oil have investments in Russia. Their income projections have become next to impossible. from Banking/Finance-Industry-Economic Times https://ift.tt/EpxmR...

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We have too few banks, need more access to common man: Sanjiv Bajaj

In an interaction with MC Govardhana Rangan and Bodhisatva Ganguli, the younger Bajaj shares his views on subjects as diverse as 'speaking truth to power' to the creation of a business that has grown in lockstep with rising disposable incomes. from Banking/Finance-Industry-Economic Times https://ift.tt/ErshG...

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HDFC approves retail home loans worth over Rs 2 trillion in FY22

Housing Development Finance Corporation (HDFC) has approved retail home loans totalling more than Rs 2 trillion in the current fiscal year — the highest ever in a financial year. The mortgage lender said its thrust on digital initiatives and an inherent demand for housing have helped it achieve the target. The demand for loans has been from across the country, the lender said. “In over four and half decades, I have not seen a better time for the housing sector than now due to lower interest rates, stable property prices, government’s thrust on affordable housing, improved affordability, favourable demographics, increasing urbanisation and rising aspirations,” Renu Sud Karnad, MD, HDFC, was quoted...

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Housing finance companies’ gross NPAs may rise to 3.6-3.8% in Q4 FY22

Gross non-performing assets (GNPAs) of housing finance companies are likely to rise to 3.6-3.8% in the fourth quarter of the current financial year, from 3.3% in December 2021, due to the Reserve Bank of India’s (RBI’s) norms on upgradation of assets and lag effect of the Covid-19 pandemic. “GNPAs to be 3.6-3.8% as of March 31, 2022, which will be 30 to 50 basis points higher than GNPAs as of December 31, 2021,” said Sachin Sachdeva, vice-president and sector head, financial sector ratings, Icra. Analysts believe GNPAs would rise further post-September 2022, when the November 12 circular of the central bank will be adopted by all housing finance companies (HFCs). As per reports, most HFCs have...

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RBI approves appointment of Pralay Mondal as CSB Bank’s interim MD and CEO

Appointment effective from April 1 is for three months or till the regular MD and CEO selected from The HinduBusinessLine - Money & Banking https://ift.tt/UvLmh...

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HDFC Ltd approves highest ever Rs 2 lakh crore home loans in FY22

Last year the lender had processed home loans worth Rs 1.55 lakh crore, registering a year-on-year growth of 30% as demand for homes surged. Low interest rates, stable property prices and state wise stamp duty sops have all aided growth in the housing finance segment. from Banking/Finance-Industry-Economic Times https://ift.tt/a4SMX...

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Paytm: Business fundamentals remain robust

Paytm shares hit a fresh low of ₹541 apiece on BSE on March 22 from The HinduBusinessLine - Money & Banking https://ift.tt/3roez...

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SBI picks up 7.84% stake in ONDC

ONDC is an initiative of Commerce Ministry to create an open public digital infrastrucutre from The HinduBusinessLine - Money & Banking https://ift.tt/GTapt...

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Indiabulls Housing Finance board approves fundraising proposal of up to ₹50,000 cr

Will seek enabling approval from shareholders for the fundraising in the extraordinary general meeting on April 18 from The HinduBusinessLine - Money & Banking https://ift.tt/m1Arp...

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Neobanks to address about 120 m professional income accounts: Redseer

Findings suggest value for neobanks lies in becoming the primary banker for steady income earners and professionals from The HinduBusinessLine - Money & Banking https://ift.tt/f0yEg...

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Industry found RBI’s draft NUE framework premature, shows RTI response

The payments industry had raised some issues with parts of the Reserve Bank of India’s (RBI) draft framework on new umbrella entities (NUEs) for retail payments. While at least one organisation questioned the wisdom of licensing NUEs in the absence of a policy for licensing of new payment systems, quite a few players voiced their concerns over restricting control of NUEs to Indian residents. The stakeholder comments were received by the RBI in response to the draft framework for NUEs released in February 2020. FE accessed them through a Right to Information (RTI) query. The regulator shared the unredacted comments without disclosing the names of the entities they had come from. The RBI had first...

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Gold loan non-banking finance companies’ assets under management to rise 12-14% in FY23: Analysts

The assets under management (AUM) of gold loan non-banking finance companies (NBFC) is expected to rise 12-14% in the financial year 2022-23, on the back of buoyancy in the gold prices and limited borrowing avenue for select customer segments. However, due to the increased competition from banks in the higher loan ticket segment, the loan growth of gold-focused NBFCs will likely stay muted in FY22. “With gold loan NBFCs also becoming conscious of the market demand at appropriate yields, the growth is expected to be higher in FY23,” said Sanjay Agarwal, senior director, CareEdge. The non-bank lenders usually face competition from banks in the larger ticket loan, which is between 3 lakh and 5...

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Indian banks are unprepared to fight climate change, report says

None of the 34 Indian banks surveyed in the report have a long-term net zero target year with an implementation plan covering so-called scope 1, 2 and 3 emissions, which cover direct green house gas emissions, indirect emissions through electricity or energy purchased, and those attributable to its supply chain or vendors. from Banking/Finance-Industry-Economic Times https://ift.tt/2Olsb...

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Towards a sustainable and responsible digital lending ecosystem

Fintech companies must work together with regulators so that concerns related to consumer data can be addressed and the power of big-tech companies can be leveraged from The HinduBusinessLine - Money & Banking https://ift.tt/Hqtsv...

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Karnataka Bank board approves proposal to augment capital

On BSE, the scrip of the bank was at ₹57.40, down by 1.29 per cent from The HinduBusinessLine - Money & Banking https://ift.tt/6B7Eh...

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Bitcoin Era Reviews: Is It Safe Trading Robot? Read Report

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

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YES Bank in talks with Brookfield, BlackRock to sell 5-10% stake via QIP: Report

Among other potential investors, YES Bank has also held discussions with Carlyle and Advent, according to the report. from Banking/Finance-Industry-Economic Times https://ift.tt/3vdXH...

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HDFC Bank working on ‘Buy Now Pay Later’ strategy

We are clear that BNPL is an important segment, said Parag Rao, Group Head–Payments, Consumer Finance, Digital Banking and IT from The HinduBusinessLine - Money & Banking https://ift.tt/XZVln...

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We expect NARCL’s offers to come in this week: Swaminathan J, SBI managing director for risk, compliance and stressed assets resolution

The target of transferring assets worth Rs 50,000 crore to the National Asset Reconstruction Company (NARCL) in FY22 is a few days behind schedule, Swaminathan J, State Bank of India (SBI) managing director for risk, compliance and stressed assets resolution, told Shritama Bose. The bank now prefers global auctions of bad loans over Swiss challenges as they maximise recoveries, he added. Edited excerpts:  Will NARCL meet the March 31 deadline to acquire the 15 assets worth Rs 50,000 crore? The steps that have to happen from the NARCL and the IDRCL are all happening, but at each process there are a few days of delay. From the lenders’ side we have kept everything ready. If NARCL and IDRCL...

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Expression of interest for IDBI Bank sale after roadshows

The Centre is holding roadshows to gauge investor interest for strategic disinvestment of IDBI Bank before inviting expression of interest (EoI) from potential bidders, minister of state for finance Bhagwat Karad said on Monday. In May 2021, the Cabinet Committee on Economic Affairs approved the strategic disinvestment of the Centre and LIC’s shareholding in IDBI Bank along with transfer of management control. As per the initial plan, the government will exit the bank by divesting its entire 45.48% stake worth about Rs 22,000 crore at the current market prices. Promoter Life Insurance Corporation will also sell a portion of its 49.24% stake in the bank with an intent to relinquish management...

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Easing liquidity stress and steady asset quality: General outlook for MSMEs improving, says ICICI Securities

A few large private banks are now lending to MSMEs at rates at par with that of PSBs, said the report from The HinduBusinessLine - Money & Banking https://ift.tt/R60zA...

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Why it makes sense to invest through crypto ETFs

Crypto ETFs offer a way to invest in cryptocurrencies at lower cost and lesser risk from The HinduBusinessLine - Money & Banking https://ift.tt/MA8Je...

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RBI's retail direct a hit with investors as GSecs trump FDs

Sovereign bonds now yield higher than traditional bank deposits - and can be sold easily. A 10-year government bond yields around 6.80% semi-annually, compared with 5.40-6.30% offered by the State Bank of India across categories for similar-maturity fixed deposits. from Banking/Finance-Industry-Economic Times https://ift.tt/0JODd...

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HDFC Bank to give a digital push to small business loans

Already in its pilot phase, the SmartHub Vyapar programme for merchants will be launched soon. It is an app that bundles all payment platforms - cards, UPI, QR code, tap pay and SMS-based payments. from Banking/Finance-Industry-Economic Times https://ift.tt/k9b3L...

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SBI lines-up 12 NPA accounts for sale to ARCs to recover dues of over ₹820 crore

On March 30, the bank will conduct e-auction of as many as six accounts with a total outstanding of ₹112.05 crore. from The HinduBusinessLine - Money & Banking https://ift.tt/gSb5N...

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Govt working on classification of cryptocurrency under GST law

The Goods and Services Tax (GST) law does not clearly state about the classification of cryptocurrency. from The HinduBusinessLine - Money & Banking https://ift.tt/Ux4ze...

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SBI lines-up 12 NPA a/cs for sale to ARCs to recover over Rs 820cr dues

Country's largest lender SBI has lined-up a dozen non-performing assets (NPAs) on sale to recover loan dues of over Rs 820 crore, as per the bank's notifications. In various notices on its website, State Bank of India (SBI) has put up a total of 12 bad assets for sale during this month to April 13. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/rxUsK...

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SBI lines-up 12 NPA accounts for sale to ARCs to recover dues of over Rs 820 cr

BI said it has placed these accounts for sale to asset reconstruction companies (ARCs)/banks/Non-Banking Financial Companies (NBFCs)/financial institutions (FIs), on the terms and conditions indicated there against. from Banking/Finance-Industry-Economic Times https://ift.tt/5dqn8...

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