BUSINESS
RBI MPC: Monitoring certain components of personal loans in the books of banks, NBFCs, says Guv Das
Das, in his MPC statement, also highlighted that the need of the hour is to make strong risk management standards.
BUSINESS
Banks may not change lending, deposit rates after MPC meet, say bankers
Some private and public sector lenders have already revised their rates ahead of the Monetary Policy Committee meeting that ends on October 6.
BUSINESS
IndusInd Bank launches 'super-app' INDIE, targets 10 million customers in 3 years
INDIE, the "super application", will offer fixed deposits (FD), credit services and brokerage facilities among others
BUSINESS
Cooperative banks face RBI ire; 8 lose licence, 120 penalties slapped this year
The banking regulator has also worked on the amalgamation of four cooperative banks this year till October 3
BUSINESS
RBI’s MPC may opt for a rate pause again, keep tight liquidity, say experts
The central bank has raised the repo rate by 250 basis points (bps) since May 2022, but has kept it unchanged since February this year.
BUSINESS
Bank credit to personal loan jumps 30.8% in August 2023, shows RBI data
Despite caution from the central bank, some banks are aggressively working on growing their unsecured portfolio, which include credit cards, personal loans, microfinance loans, etc.
BUSINESS
MC Exclusive: No data on unclaimed deposits on UDGAM portal available with RBI, shows RTI
The RBI introduced the Unclaimed Deposits – Gateway to Access inforMation (UDGAM) portal on August 17, with facilities for unclaimed deposits available for seven banks
BUSINESS
Banks go aggressive on green finance through partnerships, deposit schemes
Canara Bank, Bank of Maharashtra, IDFC First Bank, Federal Bank, and HSBC India have worked on partnerships and green finance products to boost lending to the sector.
BANKS
Don't see India-Canada spat hurting banking business in Canada, say experts
There are two major Indian banks with operations in Canada — State Bank of India (SBI) and ICICI Bank.
BANKS
MFs up their stake holding in mid-sized banks
In the last one year, some mid-size private sector banks have seen a jump in shareholding from mutual funds on the back of good performance by the banking sector, leading to an increase in share prices.
BUSINESS
Recovery continues to be less in IBC cases, data from banks, CareEdge show
With the number of cases rising by 20 percent on a year-on-year basis, data of some of the top lenders showed that recovery has been following a downtrend.
BUSINESS
Banks go aggressive on vehicle finance, tie up with manufacturers
Kotak Mahindra Bank, IDFC First Bank and CSB Bank lead the show. Some banks see demand going up and plan to grow their portfolio aggressively, other than through partnerships with car manufacturers also.
BUSINESS
What is driving investor interest in public sector banks?
Post the pandemic phase of Covid, PSBs have moved into a high-growth orbit, with record profits and improvement in asset quality, which perhaps has renewed investor interest in them.
BUSINESS
Muthoottu Mini may enter MSME and two-wheeler finance in 2025, says MD
The company also plans to achieve an asset under management (AUM) of Rs 7,000 crore by 2027.
BUSINESS
Banks’ asset quality to improve in FY24 on low net slippages and write-offs, says ICRA
The GNPA and NNPA of the banking sector is expected to improve at around 2.8 to 3 percent and 0.8 to 0.9 percent respectively.
BUSINESS
MC Explains: Understanding RBI's revised norms on lenders releasing original property documents to borrowers
The central bank's new directive to lenders shall be applicable from December 1, 2023.
BUSINESS
MC Explains: What RBI’s revised norms for classification, valuation of bank investment portfolios are about
Banks now have to categorise investments as available for sale, held to maturity, and fair value through profit and loss.
BUSINESS
RBI likely to keep holding repo rates despite inflation easing in August, say experts
India's headline retail inflation rate for August was at 6.83 percent as vegetable prices cooled somewhat compared to the previous month
BUSINESS
Kotak Mahindra plans to ramp up credit card business, more launches on the anvil, says top executive
Frederick D’Souza, Business Head, Credit Cards, Kotak Mahindra Bank, said that the bank plans to launch new campaigns for its UPI credit card business.
BUSINESS
RBI official pitches for more investments in digital payments industry
More investments in digital payments will mean more players and that will make the field more inclusive in a market that is expected to touch $200 billion by 2030, they say
BUSINESS
Digital payment industry facing tough competition, says PhonePe VP
A report published by Bernstein in September 2023 said that 95 percent of the transactions on UPI are captured by top four players
BUSINESS
Banks will have to shut shop if they don't innovate, says KV Kamath
"If I would have been in a bank today where there is no change and innovation, it would have been a nerve wracking experience for me," Kamath said.
BUSINESS
Debt recovery remains a challenge in India, says Deepak Parekh
The Chairman of HDFC Ltd. said that compared to global legal systems, India has a slow mechanism.
BUSINESS
Top MFIs eye 70-80% digital loan repayment in next 3-5 years
Currently, only about 10-15 percent of customers repay digitally. The organisations are considering monetarily incentivising clients to repay digitally.
