Why India must end Yes Bank’s theater of the absurd

The new management keeps dangling improbable funding options — ranging from an unnamed global technology firm to a Canadian businessman living in a motel — only to strike them off the list of white knights.

from Banking/Finance-Industry-Economic Times https://ift.tt/36ONI4S

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Federal Bank works on loan recovery, upgradation efforts

Private sector lender Federal Bank has been working on improving its recovery efforts by including new channels as well as strengthening its recovery

from Business Line - Money & Banking https://ift.tt/2RaAIzJ

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Reliance HFC gave Rs 12,000 crore loans to 'indirectly linked' borrowers: Audit

The forensic auditor found “anomalies” in the credit appraisal process of the home financier and noted that more than 80% of disbursals comprised corporate loans to a group of 47 borrowers that shared these common characteristics, according to these people. This included similar registered addresses, common directors and key management personnel.

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

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Digital payment gains should be used to acquire merchants, says Nirmala Sitharaman

The prebudget meeting on Friday was necessitated after the government waived off MDR for merchants on digital payments made through RuPay debit cards and Unified Payments Interface (UPI) devices from January 2020.

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

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Morgan Stanley PE unit close to buying 20% in Centrum HF

Centrum Housing Finance, which started operations in 2016, is a stepdown subsidiary of Centrum Capital, the listed group entity of Centrum. The firm reported revenue of Rs 37.64 crore in financial year 2019 compared to Rs 10.4 crore in the previous year. Its profit after tax stood at Rs 1.4 crore during the period compared with Rs 18.9 lakh in FY18, its annual report showed.

from Banking/Finance-Industry-Economic Times https://ift.tt/37WVxph

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