- + India’s lower-middle class moves beyond survival borrowing, embracing digital credit tools—Home Credit India’s “How India Borrows 2024” study highlights the growing role of digital platforms, embedded finance, and EMI-based financing, with b...
- + CBoI’s Q2FY25 net profit zooms 51 per cent to ₹913 cr—The Mumbai-headquartered public sector bank had reported a net profit of Rs ₹605 crore in the year ago quarter [Category: Money & Banking]
- + Bank deposits perk up in Oct 4 fortnight; outstrip credit offtake—All scheduled banks’ mopped up deposits aggregating Rs ₹4,20,217 crore against a credit offtake of Rs ₹1,75,363 crore in the reporting fortnight [Cate...
- + Axis Bank Q2 net profit rises 18%; management flags higher stress in unsecured loans—Bank seeing some worsening of asset quality in some unsecured and some other asset classes, says MD & CEO Amitabh Chaudhry [Category: Money & ...
- + Axis Bank Q2FY25 PAT up 18 per cent —Management flags higher stress in unsecured loans [Category: Money & Banking]
- + RBI imposes restrictions on Asirvad Micro Finance, Arohan Financial Services, DMI Finance and Navi Finserv—The pricing policy of these companies was found to be not in conformity with the provisions laid down under Fair Practices Code issued by the Reserve ...
- + RBI imposes biz restrictions on Asirvad Micro Finance, Arohan Financial Services, DMI Finance and Navi Finserv—The pricing policy of these companies was found to be not in conformity with the provisions laid down under Fair Practices Code issued by the Reserve ...
- + Karur Vysya Bank posts 25% rise in Q2 net profit at ₹473 cr—Profit growth was driven by higher net interest income and improved asset quality [Category: Money & Banking]
- + IOB posts strong Q2 performance; plans ₹2,000 cr fundraise by March 2025—For Q2 FY25, IOB reported a net profit of ₹777 crore, up from ₹625 crore in the same period last year, driven by higher interest and non-interest inco...
- + There may be structural changes in Indian banks’ long-term funding mix and cost: Fitch Ratings—Fitch considers banks’ current deposit pricing strategy unsustainable over the long term, if deposits must support the economy’s high reliance on bank...
- + Crypto market soars, sees 8% surge in market cap driven by global economic shifts, says report—Wrapped Bitcoin (wBTC) has maintained its leadership in the market, reaching an all-time high in weekly transactions, report says [Category: Crypto Cu...
- + Banks’ CASA ratio comes full circle, back at levels after demonetisation—Banks’ CASA ratio fluctuates post-demonetisation, impacting interest rates, deposit types, and tax implications for investors [Category: Money & B...
- + South Indian Bank posts 18% rise in net profit in Q2 FY25—Rise in net driven by quality assets and strategic credit growth [Category: Money & Banking]
- + South Indian Bank post 18% rise in net profit in Q2 FY25—Rise in net driven by quality assets and strategic credit growth [Category: Money & Banking]
- + Scan, pay, repeat: Behavioural shift on payment modes drives UPI transactions of over ₹617 trillion in past 102 months—Even small amounts of ₹1 are transacted on the ‘Made-In-India’ UPI platform [Category: Data Focus]
- + Traditional risks in financial sector now have new and faster drivers: RBI Dy Guv Swaminathan—He also highlighted climate change as one of the emerging risks [Category: Money & Banking]
- + Bank of Maharashtra reports 44% jump in Q2FY25 net profit at ₹1,327 cr—The Pune-headquartered public sector bank had reported a net profit of Rs ₹920 crore in the year ago quarter [Category: Money & Banking]
- + Aditya Birla Housing Finance partners BharatPe to revolutionise secured lending—Launches home loans and loans against property for BharatPe’s merchant partners [Category: Money & Banking]
- + MFI players seek tweaks in 2022 lending norms —Regulator closely scrutinising overheating in MFI segment [Category: Money & Banking]
- + HDFC AMC to report 33% rise in Q2 profit —The revenue of the asset management company will increase 34 per cent to ₹865 crore against ₹643 crore reported in the previous quarter of the last fi...
- + Still the King: LIC dominates first-year new business premium market despite private sector competition—LIC’s new biz premium zooms past 25% in April-Sep quarter, to ₹ 1.15 lakh crore [Category: Money & Banking]
- + G-Secs see first weekly outflow after inclusion in global debt indices—This will impact foreign investment in Indian bonds [Category: Money & Banking]
- + Bank of Baroda introduces 400-day ‘Utsav Deposit Scheme’ at 7.3%—Raises interest rate on term deposits in the above 3 year to 5 year bucket to 6.8% [Category: Money & Banking]
- + Global monetary policy divergence likely to cause volatility in capital flows, exchange rates: RBI Governor —Das addressed a high-level conference, ‘Central Banking at Crossroads’ here to mark 90 years of RBI [Category: Money & Banking]
- + Bajaj Allianz Life joins forces with Indian Navy to secure insurance for naval civilians—As part of this collaboration, BALIC will offer a variety of life insurance products, ensuring comprehensive coverage at affordable rates [Category: M...
- + Interest subsidy to be provided only once for a property under PMAY-U 2.0—Affordable housing transactions could be impacted due to clause [Category: Real Estate]
- + Consumer confidence rises as inflation expectations ease, led by female respondents: RBI survey—Sentiments on all major economic parameters inched up as per the survey [Category: Money & Banking]
- + Foreign banks and brokerages bet on RBI’s mild easing from December—Expect aggregate 50 bps repo rate cut in December 2024 and February 2025 [Category: Money & Banking]
- + SBI plans to enhance threshold limit under instant loan scheme for MSME sector—“Simplification of the MSME credit is something that the bank is emphasising on and making lending cash flow based backed by the CGTMSE guarantee” [Ca...
- + IOB unveils new loan centres nationwide, launches heritage-themed ATM in Chennai—The Chennai-headquartered IOB inaugurated a total of eight RLPCs, with one physical centre in Chennai and seven others launched virtually in major cit...
- + MFs raise ₹7,472 crore through passive fund NFOs in just 3 months—In last 9 months, 87 passive schemes were launched against 51 in the whole of last year [Category: Money & Banking]
- + Top corporates embrace supply chain finance to strengthen dealer ecosystem—NBFCs have started hiring especially for growing SCF business [Category: Money & Banking]
- + Nominee director of CA Basque Investments resigns from Yes Bank’s board—Yes Bank’s regulatory filing did not mention whether CA Basque Investments will be nominating a nominee director in Kaul’s place [Category: Money &...
- + Federal Bank partially exits Equirus Group as Amicus Capital injects ₹125 crore for growth—Equirus Group, known for its services in investment banking, insurance broking, and asset management, aims to leverage this investment for growth and ...
- + iNube partners with Sonata Software to revolutionise insurance tech for US and UK markets—This collaboration aims to leverage Sonata Software’s technical delivery capabilities and global reach with iNube’s insurance-specific expertise. [Cat...
- + RBI issues ‘Guidance Note’ for regulated entities —Move to deal with risks related to money laundering and terrorist financing [Category: Money & Banking]
- + RBI approves appointment of Partha Sengupta as Bandhan Bank MD, CEO for 3 years—A change of guard was necessitated at Bandhan Bank after its founder and former MD CS Ghosh unexpectedly decided to hang his boots in July this year. ...
- + Bandhan Bank says total claim payout to it under CGFMU scheme assessed at ₹1,231.29 cr—This assessment of the total claim payout follows completion of a detailed (forensic) audit and is based on the review of the audit outcome [Category:...
- + Star Health confirms data breach, takes legal action & launches investigation—The firm approached Madras HC, which issued an order directing all parties to disable access to compromised info [Category: Money & Banking]
- + Change in MPC policy stance pre-cursor to rate cuts in near term, bankers say—The MPC today maintained repo rate at 6.50 per cent for the 10th consecutive time [Category: Money & Banking]
- + G-Sec yields thaw on monetary policy stance shift and inclusion in FTSE Bond Index —Government Securities yields soften as MPC shifts policy stance to “neutral,” driving bond prices up and attracting foreign investors [Category: Money...
- + RBI to issue discussion paper on capital raising avenues for UCBs—The discussion paper will be based on the recommendations of an RBI Working Group [Category: Money & Banking]
- + As inflation moderates, RBI hits the pause button but changes stance to ‘neutral’—Position shift as inflation and growth balance is well-poised but price rise risk lurks: RBI chief Das [Category: Money & Banking]
- + Standard Chartered India CEO Zarin Daruwala to retire on April 1, 2025—Under her tenure, the franchise has helped make India one of the largest markets for the Group, with a strategic emphasis on cross-border solutions in...
- + MSMEs will be allowed to prepay loans without paying foreclosure penalty: RBI—While some banks do not impose any foreclosure charges on MSMEs, a few banks continue to do so. In most cases, foreclosure charges are between 2 perc ...
- + Some NBFCs aggressively chasing growth without building sustainable business practices: RBI Governor Das—Certain NBFCs chasing excessive returns on their equity, says RBI Governor Shaktikanta Das [Category: Money & Banking]
- + RBI doubles UPI transaction limit to ₹10,000 for feature phone users—The UPI Lite wallet limit has also been raised to ₹5,000 and the per transaction limit to ₹1,000 [Category: Money & Banking]
- + MPC keeps repo rate unchanged; changes stance to neutral—Change in MPC policy stance could be a precursor to a rate cut in February, say experts [Category: Money & Banking]
- + RBI MPC unlikely to change rates, may change stance to neutral: Economists—Key factors that the MPC is weighing include persistent inflationary pressures, particularly in food prices, as well as global economic uncertainties ...
- + RBI MPC Meeting October 2024 Highlights: RBI keeps repo rate unchanged at 6.5%, changes stance to ‘neutral’—RBI MPC Highlights, RBI Monetary Policy Meeting Outcomes, RBI MPC Meeting October 2024 News & Key Highlights: The Reserve Bank of India’s Monetary...
- + Amid sector headwinds, MFIN tightens underwriting norms —Says accurate estimation of household outflows faces major hurdles [Category: Money & Banking]
- + Private sector fuels NPS surge with near 45% y-o-y jump in AUM as of Sept 28—Non-government NPS subscribers soar by 21 per cent, as assets reach ₹2.70 lakh crore; overall NPS AUM up 31.66% at ₹ 13.4 lakh crore [Category: Econom...
- + Gross premium income of non-life insurers grows 7% in H1, September sees a 6.5 per cent decline—Standalone health insurers saw a robust 25 per cent increase in combined gross premia, totalling ₹18,218 crore [Category: Money & Banking]
- + G-Sec yields thaw on expectation of their inclusion in FTSE Russell’s bond index —Likely change in monetary policy stance also helped soften yields [Category: Money & Banking]
- + Indian regulators brought ‘great transparency’ in financial sector: FM —Facts must be ascertained before discussing anything to do with the regulators, says Sitharaman [Category: News]
- + Gross enrolments under Atal Pension Yojana crossed 7 crore mark —This flagship social security scheme was launched in May 2015 [Category: Money & Banking]
- + SLCM partners with Punjab National Bank and Bandhan Bank to offermanagement solutions—Under this partnership, SLCM will utilise its proprietary technology, ‘Agri Reach,’ to enhance the efficiency of post-harvest credit and storage servi...
- + Electronic and Payment Services to install 9,000 ATMs in 3 years—Recently received White Label ATM Operator license from RBI [Category: Money & Banking]
- + Edelweiss Financial Services to raise ₹200 crore via NCD—The company proposes to use about 75 per cent of the funds raised for repayment of interest and principal of existing borrowings and the balance for g...
- + Fino Payments Bank’s SFB plan is a “Payments Bank ++” strategy: CEO Rishi Gupta—We could reach a credit-deposit ratio of 75-80 per cent, with a loan portfolio of ₹5,000 crore to ₹7,000 crore in three to four years after our conver...
- + Bank of Baroda launches ‘Masterstroke Savings Account’ for high-end customers—Customers have to maintain a quarterly average balance of ₹10 lakh in the account [Category: Money & Banking]
- + RBI enters into a currency swap agreement with the Maldives Monetary Authority—“Under the agreement, the MMA is eligible for financing support from the RBI amounting to $400 million under the US Dollar/ Euro Swap Window and ₹3000...
- + HDFC Bank hikes MCLR by 5 basis points on 6 months, 3 year tenure—The lender has left MCLR on other tenures unchanged, in the range of 9.10 per cent-9.50 per cent [Category: Money & Banking]
- + Large ticket transactions by private banks lead securitisation volumes to hit ₹60,000 crore in Q2—HDFC Bank alone securitised Rs ₹192 crore of loans in Q2FY25 [Category: Money & Banking]
- + Don’t expect RBI, other central banks to mimic Fed rate cut, says Landau— [Category: Money & Banking]
- + HDFC Bank achieves 25% gender diversity target early, adds over 17,000 women in FY24—Leveraging AI-powered hiring processes for unbiased talent acquisition and focusing on diversity hiring, HDFC Bank has also launched ‘All Women Branch...
- + Instant personal loans add zing to festive mood—State Bank of India, HDFC, ICICI Bank and Canara Bank introduce attractive offers on personal loans which are tech-driven, without any need for branch...
- + RBI MPC meeting begins today, policy announcement set for October 9—The repo rate, currently at 6.50%, has remained steady since the RBI adopted a cautious stance to balance inflation control and economic growth [Categ...
- + SFBs knock RBI door as credit-deposit ratio go over 90% —The current methodology of calculating the CD ratio does not take into account the borrowings that SFB avails from refinance institution [Category: Mo...
- + SBI plans to increase headcount by 10,000 this fiscal—We are strengthening our workforce, both on the technology side as well as on the general banking side, says SBI Chairman C S Setty [Category: Money &...
- + Bandhan Bank business rises 24.6% in Q2 of FY25—The bank also extended tenure of the term of interim MD & CEO Ratan Kumar Kesh for a period of one month effective October 10, 2024. [Category: Mo...
- + Payoneer ties up with Tech Mahindra to facilitate crowdsourcing payments—Tech Mahindra’s Populii users would enjoy prompt and secure international payments post-task with Payoneer’s payment system [Category: Money & Ban...
- + Banks shouldn't use group entities to circumvent rules: RBI—RBI also says entities should avoid an overlap in the lending activities undertaken by the bank and its group entities [Category: Money & Banking]
- + In a first, India’s forex reserves breach $700 billion mark —FCA stood at $616.15 billion, whereas gold reserves stood at nearly $66 billion [Category: Money & Banking]
- + RBI appoints Aviral Jain as ED—As Executive Director, he will look after the Legal Department, the Premises Department and the Right to Information Act (First Appellate Authority) [...
- + Muthoot Finance shareholders approve re-appointment of George Muthoot as MD for 5 years—Also approve re-appointment of George Jacob Muthoot as WTD for 5 years [Category: Money & Banking]
- + RBI asks banks to ringfence core business —Banks have to ensure that there is no overlap in lending activities undertaken by them and their group entities [Category: Money & Banking]
- + Tirupati laddus case: SC forms SIT with CBI in it, says step taken to assuage feelings of devotees world-wide —SC clarifies formation of new SIT not an adverse remark on the State-constituted one [Category: News]
- + Top private banks’ Q2 biz updates see higher deposit growth than credit —HDFC Bank’s deposits grew over twice the pace of credit growth in Q2 [Category: Money & Banking]
- + AIBEA calls on Finance Minister to fill vacant Director positions in PSBs—According to a letter from AIBEA General Secretary C H Venkatachalam, there are 60 unoccupied director seats out of a total of 186 [Category: Money &a...
- + We aim to raise ₹15,000 crore-₹20,000 crore in H2FY25: Piramal Capital MD—Pirmal Capital & Housing Finance (PCHF) will likely raise ₹15,000 crore-₹20,000 crore in H2FY25, MD Jairam Sridharan told businessline in an inter...
- + Rupee saw biggest single day decline on rising Middle East tensions—The rupee weakened to close 15 paise lower at 83.9675 per US Dollar (USD) vis-a-vis the previous close of 83.82 [Category: Money & Banking]
- + CoinSwitch launches crypto futures trading; offers 25x leverage to traders—With CoinSwitch futures, users can trade in over 350 contracts, including BTC, ETH, SOL, MATIC, and XRP [Category: Money & Banking]
- + Ind-Ra reports rising delinquency levels among traditional NBFCs and fintechs offering unsecured business loans—Growth in AUM has slowed down in the UBL space because of the caution exercised by lenders (both on- and off-book) and conservatism practiced by them ...
- + New 10-yr G-Sec may be issued at a lower cut-off yield of 6.70-6.73%—The extant 10-year G-Sec, which was traded at 6.73 per cent on Tuesday, was issued at a cut-off yield (coupon rate) of 7.10%per cent in April 2024; Go...
- + B Uday Bhaskar named Chief General Manager, Nabard Telangana —A postgraduate in agriculture, Uday Bhaskar joined Nabard in 1993 and has served in various regional offices and in the bank’s headquarters in Mumbai ...
- + Namdev Finvest could raise $50 million in H2 FY25—Eyes IPO by March 2027 [Category: Money & Banking]
- + At ₹1,86,284 crore, Mudra loans show marginal dip in H1—However, the full-year disbursals in the current fiscal will show growth driven by recent measures, say bankers [Category: Money & Banking]
- + SBI to add 600 branches in FY25, says Chairman Setty—State Bank of India is considering innovative products such as recurring deposits and SIPs to attract depositors. [Category: Money & Banking]
- + RBI likely to maintain status quo on policy rates in Oct 9 MPC meeting: BoB Report—‘The newly constituted MPC is likely to await more clarity on the evolution of the inflation trajectory before embarking on monetary easing path’ [Cat...
- + Ram Singh, Saugata Bhattacharya, Nagesh Kumar appointed as new MPC members —The new members are expected to attend the MPC meeting scheduled to be held next week [Category: Economy]
- + ICRA downgrades Bandhan Bank’s long-term rating due to “sustained weakness” in EEB portfolio—ICRA said the downgrade in the long-term ratings of the bank reflected the “sustained weakness” in the EEB portfolio [Category: Money & Banking]
- + Financial condition of regional rural banks in north-east improved after regular review: Finance Ministry—Recognizing the crucial role of RRBs in bolstering the rural economy, Sitharaman urged these banks, along with their sponsor banks, to enhance credit ...
- + Banking sector loan growth stays at 15% YoY despite slowdown in services and personal loans—Credit growth to industry picked up pace, registering 9.8% gains, notably in chemicals, food processing, and petroleum sectors [Category: Money & ...
- + RBI flags evergreening, unethical lending practices in gold loans—Lenders have been told to inform RBI about action taken against unethical practises within three months [Category: Money & Banking]
- + Huge response for REC’s zero-coupon bonds—Investors place offers for ₹33,671 crore against ₹5,000 crore issue size [Category: Money & Banking]
- + Life cover policyholders stand to gain as new surrender value norms kick in from Oct 1—Insurers exploring ways to foot the financial burdern [Category: Money & Banking]
- + Cred’s FY24 revenue surges 66% to ₹2,473 cr, operational loss down by 41%—Platform increases its monetised user base by 58 per cent, slashes marketing expenses by 36 per cent, and reduces its customer acquisition cost by 40 ...
- + RBI Dy Guv Swaminathan cautions SFBs against hidden and emerging risks —Emphasising the importance of operational controls and employee retention strategies [Category: Money & Banking]
- + Axis Bank extends ₹100 crore guarantee to Muthoot Capital —This will enable Muthoot Capital to on-lend to customers in rural and non-metro regions for purchasing electric two and three-wheelers [Category: Mone...
- + BharatPe: Ashneer Grover no longer associated in any capacity—Grover was removed from the position of Managing Director of BharatPe by the company's board in March 2022 [Category: Money & Banking]
- + Shriram Life to focus on lower-sum policy sales & market share growth in underdeveloped states—The company, a joint venture between Shriram Capital Ltd — the holding company of the Shriram Group — and South Africa-based Sanlam Ltd, continues to ...
- + Fall in G-Secs yields: Banks may have reaped decent treasury gains in Q2FY25—Yield of the benchmark 10-year G-Sec dipped 25 basis points during the quarter up to September 27 to close at 6.76 per cent vis-a-vis June-end yield ...
- + SBI plans to introduce innovative products to boost deposit growth: Chairman—Customers are becoming financially more aware and demanding, looking for innovative investment instruments, says SBI chairman C S Setty [Category: Mon...
- + PNB raises ₹5,000 crore equity capital via QIP —Citigroup, BofA Securities, Morgan Stanley and Goldman Sachs were among investors [Category: Money & Banking]
- + RBI Dy Guv Swaminathan underscores importance of sustainable business models for SFBs—RBI Deputy Governor emphasizes sustainable business models for small finance banks, highlighting governance, cybersecurity, and financial inclusion [C...
- + HDFC Life receives income tax demand aggregating ₹296.76 crore—HDFC Life Insurance faces ₹296.76 crore tax demand, plans to rectify inaccuracies and appeal against the order [Category: Money & Banking]
- + We plan to grow supply chain finance book, enter education loan market this fiscal: Shriram Finance CEO—Plans to raise $1.25 billion-$1.5 billion in current fiscal [Category: Money & Banking]
- + Government securities yield curve set for bull-steepening amid lower borrowing and rate cuts—Bull steepening occurs when short-term interest rates decline faster than long-term rates, widening the spread and steepening the yield curve [Categor...
- + Poor Internet connectivity a barrier towards digital financial inclusion in Lakshadweep: RBI-funded study—Respondents reported apprehensions about digital transaction failures, which often discouraged them from using Internet and mobile banking [Category: ...
- + BoI to launch 400-day term deposit at 7.30% —Callable term deposits (TDs) can be withdrawn prematurely. Non-callable deposits don’t have premature withdrawal option [Category: Money & Banking...
- + WazirX granted a four-month moratorium by Singapore court to resolve aftermath of $230 million hack —WazirX had earlier requested for six months’ protection while it restructures its liabilities [Category: Crypto Currency]
- + Bandhan Life eyes ₹300 cr new business premium for FY25 —Bandhan Life Insurance aims for ₹300 crore new business premium, expanding rapidly with strategic partnerships and new products [Category: Money &...
- + SBI files petition under Section 7 of IBC against Reliance Infra’s toll road subsidiary—KM Toll Road Private Ltd (KMTRPL) is one of the 60-odd subsidiary and associate companies (including joint ventures) within Reliance Infrastructure [C...
- + HDFC Bank launches instant SIP via SmartWealth app—The Instant SIP will help users take immediate action and invest in mutual funds on the same day when they spot an opportunity [Category: Money & ...
- + Lenders to recover about 19% of principal outstanding exposure to Supreme Infrastructure—Over and above this, a portion of the bad debt that has been converted into equity can give some of the lenders, including SBI, an upside if the compa...
- + Organised gold loan market set to cross ₹10 lakh cr in FY25: ICRA—The share of gold loans from public sector banks grew to 63 per cent from 54 per cent within five years [Category: Money & Banking]
- + Indian economy demonstrates vastly improved macroeconomic fundamentals and buffers: Shaktikanta Das—Continuing geopolitical disturbances and geoeconomic fragmentations will pose daunting challenges to the central banks, cautions RBI Governor [Categor...
- + Private sector fuels NPS surge with 41% Jump in AUM as of Sept 15—Non-government NPS subscribers soar by 20 per cent, as assets reach ₹2.66 lakh crore, signalling strong private sector interest in retirement planning...
- + City Union Bank aims to maintain CD ratio at 83-84% and lower NNPA ratio to 1-1.25% by FY25 —The lender plans open around 75-100 branches in the current fiscal, leading to an overall branch network of around 900 branches. [Category: Money &am...
As of 10/18/24 4:36am. Last new 10/18/24 4:36am. Score: 375
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