BUSINESS
Women’s Day: Banks aim for more women power in 2024
Banks are planning to hire more women at junior and senior levels. The finance and banking sector has already seen some highly talented women leaders, but the aim now is to bring more wine into the overall workforce.
BUSINESS
MC Interview: Expect 5-10 bps compression in margins in near future, says Home First CEO
On competition with small finance banks, CEO Manoj Viswanathan said that SFBs have different cost of borrowing compared to housing finance companies and hence, there was no stress on the competition front.
BUSINESS
RBI may look at cutting rates in June MPC, says CRISIL's Joshi
On global policy rates, Paul Gruelwald, Global Chief Economist, S&P Global Ratings, said that gradual rate cuts are expected in 2024
BUSINESS
Concerns over asset quality, risk management may have prompted RBI's crackdown on NBFCs: Experts
In the past few months, the central bank has imposed restrictions on Paytm Payments Bank, IIFL Finance, JM Financial Products, Bajaj Finance, and M&M Finance, among other entities.
BUSINESS
Gold loan market may feel heat of RBI's action against IIFL Finance, say experts
Additionally, experts said that IIFL Finance’s co-lending deal with banks will be something to watch out for.
BUSINESS
Banks struggle to attract deposits as customers chase high return equity-linked products
To lure depositors, banks have come with special deposit products and schemes offering higher rate of returns for certain tenures. However, it is going to be tough to compete with higher returns offered by other instruments, experts say.
BUSINESS
Jana SFB plans to increase share of secured loans up to 80% of the book in 2 years, says CEO
The bank will aim to grow the secured book to 70 per cent- 80 percent from the existing 60 percent in the next two years based on the demand scenario.
BUSINESS
Insolvency cases rise 18% in Oct-Dec, shows IBBI data
Out of the total cases, 1899 were going through the CIRP process in the October-December FY24 quarter.
BUSINESS
Paytm Payments Bank is not alone; RBI’s punitive actions in last five years
On January 31, the RBI imposed business restrictions on Paytm Payments bank citing repeated violations of norms and non-compliance with multiple rules. Here is a list of cases where the central bank imposed curbs on major banks and NBFCs.
BUSINESS
Are you a Paytm Payments Bank account holder? Here’s what you can do
Industry experts said that the situation with Paytm Payments Bank is not like that of Yes Bank or PMC Bank. Depositors, therefore, need not worry about their money for now, and have enough time to either use up the balance or look for options to park them.
BUSINESS
Paytm Payments Bank says withdrawals smooth, meeting all regulatory requirements
The bank is mandated under RBI regulations to invest the daily deposit balances in government securities and commercial bank balances to ensure the safety of customer deposits, Paytm Payments Bank has told Moneycontrol
BUSINESS
Cooperative banks continue to face RBI hammer; 3 lose licences, 20 penalised so far in 2024
After the Punjab and Maharashtra Cooperative Bank crisis in 2019, the RBI has been aggressively clamping down on erring cooperative banks
BUSINESS
Banks would need to spend Rs 60-66 cr for re-KYC of Paytm Payments Bank merchant customers
Bankers said that the re-KYC process may take some months considering the size of the bank's customer base
BUSINESS
Reliance Industries tops the list of India's most valuable companies in Burgundy Private and Hurun India report
The latest Burgundy Private and Hurun India report shows the top deck continues to be occupied with India's biggest companies, while the market capitalization of Top 500 companies now stands taller than the combined GDP of Saudi Arabia, Switzerland and Singapore.
BUSINESS
RBI’s retail digital currency pilot recorded Rs 5.70 crore of transactions
The pilot recorded these transactions in the first four months of the trial, according to a right to information filing by Moneycontrol
BUSINESS
Need to be prepared for new cyber security risks, says RBI DG Rabi Sankar
T Rabi Sankar, DG, RBI also said that banks will have focus on upskilling their employees in a way they continue to remain relevant.
BUSINESS
Banks see no reason to tweak lending rates post RBI’s policy review
In its bi-monthly policy review meeting, the monetary policy committee (MPC) on February 8 decided to keep the repo rate unchanged at 6.5 percent. It has remained at this level since February 2023.
BUSINESS
LIC Q3 results: Net profit jumps 49% YoY to Rs 9,441 crore
The insurer’s net premium income grew 4.67 percent to Rs 1.17 lakh crore in the quarter under review, from Rs 1.11 lakh crore in the year-ago period
BUSINESS
RBI Policy: KFS in retail, MSME loans to improve transparency for borrowers, say experts
The Reserve Bank of India (RBI) kept the repo rate unchanged at 6.5 percent.
BUSINESS
RBI to come out with FAQs on Paytm Payments Bank issue next week
The RBI has received a lot of queries in connection with the action on Paytm Payments Bank and will release FAQs, RBI governor Shaktikanta Das has said
BUSINESS
Paytm Payments Bank: RBI action came after persistent non-compliance, says DG Swaminathan
On January 31, the RBI imposed major business restrictions on Paytm Payments Bank, including accepting fresh deposits and doing credit transactions after February 29
BUSINESS
RBI introduces framework for digital transaction authentication
Das said that instructions for the framework will be issued separately.
BUSINESS
Requirement of key fact statements extended to cover all retail and MSME loans
Das said that this measure will lead to enhanced transparency and will enable customers to make enhanced operations.
BUSINESS
Financial parameters of NBFCs improving, says governor at RBI MPC review
On February 8, the central bank kept the repo rate unchanged at 6.5 percent.
