BUSINESS
Banks' lending to aviation, commercial real estate jumps sharply: RBI data
Banks' credit to aviation jumped to Rs 40,129 crore versus Rs 24,062 crore whereas lending to real estate jumped to Rs 4.24 lakh crore compared to Rs 3.12 lakh crore.
BUSINESS
India’s Q2 GDP growth beyond expectations, RBI may opt for a hawkish stance
The GDP growth is higher than the Reserve Bank of India (RBI) prediction of 6.5 percent. The surprise growth came in the backdrop of healthy domestic consumption and strong growth in the services sector
BUSINESS
RBI may opt for interest rate pause for the fifth consecutive time, say experts
The central bank has raised the repo rate by 250 basis points (bps) since May 2022. This will be the fifth consecutive policy where it will opt for a pause.
BUSINESS
RBI risk weight norms on consumer loans could impact NBFCs: U GRO Capital’s Lodha
NBFCs, which are aggressive in the retail loan segment, may see some impact. Other than this, there will not be much impact on the industry, said Kishor Lodha, Chief Financial Officer (CFO) of U GRO Capital - a MSME lender.
BUSINESS
PSBs hiring senior tech experts in bid to ramp up cybersecurity
The increasing number of digital transactions has made it necessary for banks to put stringent cybersecurity measures in place. Banks such as SBI, Bank of Maharashtra and IOB are hiring senior technical experts to put systems in place, to avoid a recurrence of a UCO Bank like situation.
BUSINESS
Budget 2024-25: 10 years of Modi Budgets: IBC a winner, bank privatisation still a work in progress
Budget 2024-25: The introduction of IBC was a key reform introduced in the last 10 years. But privatisation of banks remains an unfulfilled promise.
BUSINESS
MC Exclusive interview: Swedish minister of financial markets keen on fintech ties with India
The minister said that the EU-India free trade agreement can deepen the process of instant payments and cross-border payment partnerships.
BUSINESS
RBI norms: Banks may hike rates by 30-40 bps on consumer loans
Personal loans are likely to feel the heat soon as banks prepare to increase rates.
BUSINESS
Need to continuously work to redefine fintech regulations, says RBI DG
Rao further said that the collaboration between banks and fintechs is aiding innovations.
BUSINESS
No major concern on BOB's unsecured loan book, says top official
Joydeep Dutta Roy, executive director, BoB, said that the unsecured loan book of the bank is only for existing customers
BUSINESS
SBI sees impact of 2-3 bps on NIM due to recent RBI rules
The RBI recently central raised the risk weight on consumer loans of banks and NBFCs by 25 percent
BUSINESS
SBI expects to give Rs 1.5 lakh crore in corporate loans, says Dinesh Khara
The SBI chairman had earlier said that the bank remains confident on lending to the corporate sector.
BUSINESS
MC Explains: What are the different risk weightage norms for bank loans
The latest revision on November 16 increased the risk weight for unsecured consumer loans by 25 basis points.
BUSINESS
RBI’s risk weight norm will not affect our business: ESAF SFB MD and CEO
However, the bank will have to add an additional risk weightage to its NBFC book, said KP Thomas.
BUSINESS
Recent small finance bank mergers driven by search for higher return on investments, say experts
Last month two major mergers were announced in the small finance bank space –merger of Bengaluru-based fintech Slice with North East SFB, and that of Fincare SFB with AU SFB.
BUSINESS
Banks, NBFCs may raise rates after RBI’s action on consumer loans, experts say
A jump in risk weight means lenders have to set aside higher capital against these loans. It will impact the capital adequacy ratio of banks as well as profitability.
BUSINESS
Suryoday SFB targeting Rs 2,400 cr AUM in microfinance business by FY24: MD & CEO
On unsecured business, MD and CEO Baskar Babu Ramachandran said that the bank is following a very cautious approach and it is funding only to stable businesses.
BUSINESS
Inflation cooling in line with expectations, but no rate cut soon, say experts
Retail inflation hit a five-month low at 4.87 percent in October.
BUSINESS
Insurers see dip in new business margins in July-September quarter on tough competition
The annual premium equivalent of Indian insurers saw single-digit growth.
BUSINESS
LIC working on a new mobile app, ropes in BCG as consultant, says chairperson
The chairperson highlighted that the company has worked on a total transformation of its digital services.
BUSINESS
LIC in talks with banks to ramp up partnerships, says MD Jagannath
In the April-June FY24 quarter, the country’s largest insurer partnered with two new banks, J&K Bank and Saraswat Urban Cooperative Bank.
BUSINESS
LIC Q2 Results: Net profit at Rs 7925 cr, net premium income falls to Rs 1.07 lakh crore
LIC's net premium income fell 19 percent to Rs 1.07 lakh crore in the quarter under review from Rs 1.32 lakh crore in the year-ago period.
BUSINESS
MC Interview: Overall growth is on track, says Karnataka Bank MD
The lender’s unsecured portfolio is about 8.9 percent of the total, Srikrishnan H said.
BUSINESS
Banks amp up their vehicle finance portfolios in Q2
Two-wheelers and commercial vehicles boosted business for lenders during the July-September quarter.
