BUSINESS
RBI annual report: Most frauds hit private lenders but PSU banks outweigh in fraud amount
Maximum frauds were reported in digital payments but in terms of value, frauds have been reported primarily in the loan portfolio.
BUSINESS
RBI Annual Report: Ongoing CBDC pilots to be expanded to more locations, banks
The pilots for the whole sale and retail CBDC were commenced on November 1, 2022 and December 1, 2022, respectively
BUSINESS
Middlemen in Mumbai wholesale markets charge commission from retailers for Rs 2,000 payments
According to retail business owners, the middlemen have been facilitating payments through Rs 2,000 notes to wholesalers by charging a commission of Rs 500 to Rs 1,500.
BUSINESS
Ujjivan SFB may apply for universal bank license after reverse merger
The small finance bank is currently in the process of a reverse merger with its holding company Ujjivan Financial Services.
BUSINESS
War on inflation not over, need to see how El Nino plays out, says RBI Governor Shaktikanta Das
Das was speaking at the Confederation of Indian Industry (CII) Annual Session 2023.
BUSINESS
Rs 2,000 note withdrawal: Banks see no rush for exchange, deposit
The RBI said people could visit bank branches from May 23 to exchange or deposit their Rs 2,000 notes.
BUSINESS
Rs 2,000 note withdrawal: Digital payments may get a push, says former RBI Deputy Governor
The central bank’s May 19 decision to withdraw Rs 2,000 notes is logical, given their low availability in the market and in the hands of the common people, says NS Vishwanathan.
BUSINESS
From 1946 to 2023, a timeline of demonetisation and rupee note withdrawals in India
The Reserve Bank of India's move to withdraw Rs 2,000 note from circulation is the latest decision in a string of similar moves over the years. Take a look at the timeline for the same.
BUSINESS
Rs 2,000 note withdrawal | Deposit accretion of banks to improve, decision taken with due precaution: experts
The Reserve Bank of India (RBI) on May 19 said that it is withdrawing Rs 2000 notes from circulation based on a review.
BUSINESS
MC Explains: What is contingency risk buffer?
The board of the central bank, on May 19 raised the contingency risk buffer to 6 percent from 5.50 percent
BUSINESS
Expected credit loss is fiction for now; SBI equipped to deal with it: SBI Chairman Dinesh Khara
RBI floated a discussion paper to move the banking system’s provisioning principles from the current ‘incurred loss’ approach to a new ‘expected credit loss’ (ECL) approach.
BUSINESS
SBI wants to tap all international opportunities in GIFT City branch: Chairman
The bank had in April 2022 raised $500 million through its IFSC Gift City branch in Gandhinagar, Gujarat
BUSINESS
MC Exclusive: Ujjivan SFB eyes double-digit growth in housing finance, to expand network in tier 2 and 3 cities, says MD & CEO
The small finance bank reported a net profit of Rs 309 crore for the quarter ended March 2023 but the net interest margin fell as it partially passed on rate hikes to customers.
BUSINESS
Indian fintechs seek a share of booming loan market through NBFC route
After the central bank tightened its digital lending guidelines in September, fintech companies have started to acquire small NBFCs or seek NBFC licences.
BUSINESS
Bank of Baroda makes Rs 500-crore provision for Go First loan
The bank lent Rs 1,430 crore to the cash-strapped airline, which filed for voluntary insolvency earlier in May.
BUSINESS
Exclusive: Lenders in no mood to pump fresh funds into Go First till resolution
The National Company Law Tribunal on May 10 accepted the airline’s application for insolvency proceedings.
BUSINESS
Will Go First’s voluntary insolvency set a precedent for future IBC cases? Here’s what experts say
The National Company Law Tribunal admitted Go First's voluntary insolvency plea on May 10 after the airline said it was forced to ground half of its fleet, blaming faulty engines supplied by Pratt & Whitney.
BUSINESS
Banks' agri loan books see jump despite El Nino risks, aided by strong demand
Despite the possibilities of uncertain weather conditions and risks associated with the El Nino effect, banks have grown their agriculture loan book
BUSINESS
Go First: Banks in wait-and-watch mode on fresh funding, seek clarity
Banks may provide additional funding if they are given financial guarantees by the airline, which has not defaulted on any payments.
BUSINESS
MC Explains: What is Section 10 and 14(1) of IBC and what it means for crisis-ridden Go First
The Wadia group-backed domestic carrier filed for insolvency under Section 10 of the Insolvency and Bankruptcy Code (IBC), 2016, before the National Company Law Tribunal (NCLT) in New Delhi.
BUSINESS
Union Bank sees 10-12% credit growth in FY24
The bank recorded 13 percent credit growth to Rs 8.09 lakh crore in 2022-23 from Rs 7.16 lakh crore in 2021-22
BUSINESS
Google crackdown on lending apps may raise competitive heat for NBFCs
The move may push many digital lenders to apply for NBFC licences. While the crowded retail lending segment faces overleveraging risk with the entry of more players, the MSME space stands to benefit
BUSINESS
Exclusive: Godrej Capital eyes Rs 6,000 crore MSME loan book by end of FY24, says MD and CEO
Currently, the company has an AUM of Rs 5,300 crore, out of which over Rs 2,000 crore is under MSME, Manish Shah told Moneycontrol.
BUSINESS
MC Explains: What are RBI norms for priority sector lending for banks?
These prescribe the proportion of loans that should be made to economically disadvantaged sections. Meeting these targets are considered while granting regulatory clearances and approvals for various purposes.
