BUSINESS
Exclusive | Simpl eyes partnerships with banks, NBFCs
Last year, the Reserve Bank of India imposed regulatory restrictions on buy-now-pay-later fintechs, which Nityanand Sharma, CEO, Simpl, said gave a lot of clarity about the approach and principles to fintech players.
BUSINESS
Kotak Mahindra Bank aims to grow low-cost deposits, will focus on acquiring customers, says Virat Diwanji
The private-lender’s consumer group president and head says keeping customers engaged will be a major challenge
BUSINESS
LIC will soon contact Adani top management to understand the issues, says Chairman Kumar
LIC's total exposure to the Adani group is 0.97 percent of its total assets under management (AUM), Chairman M R Kumar said
BUSINESS
MC Explains| Here’s what RBI's new approach on climate risk and sustainable finance means
The apex bank announced a slew of initiatives concerning climate risk and sustainable finance for which guidelines will be out soon for regulated entities
BUSINESS
RBI plans to include 5 more banks and another 9 cities for retail CBDC system, says Deputy Governor
We are gradually working on increasing the scope of retail central bank digital currency (CBDC) system, RBI Deputy Governor said
BUSINESS
MC Exclusive | Seeing tough competition from banks, Muthoot Finance to step up gold loan growth, says MD & CEO
The NBFC expects to grow its gold loan book by 5 percent by the end of the current fiscal year, says George Muthoot. He says after Budget 2023, NBFCs are not in a position to issue NCDs and this has affected retail investors.
BUSINESS
MC Explains | The PC Jeweller case and four banks recalling their loans
PC Jeweller owes Rs 3,278 crore to a consortium of banks. Four of these banks — IDBI Bank, Bank of India, Indian Bank and Karur Vysya Bank — have recalled their new loans to PC Jeweller, according to a regulatory filing by the company
BUSINESS
RBI Policy: QR Code-based Coin Vending Machine pilot on cards, to be launched in 12 cities
These vending machines will dispense coins against debit to the customer’s account using UPI instead of physical tendering of banknotes, RBI governor said.
BUSINESS
RBI Policy: Draft guidelines on levy of penal charges on loans in the works
To further enhance transparency, reasonableness and consumer protection, RBI will draft guidelines on levying penal charges, RBI governor said.
BUSINESS
Want to make an offering to God? Scan the QR code!
Places of worship in Kerala, Maharashtra, Andhra Pradesh and Karnataka have been offering devotees QR code options to make donations.
BUSINESS
Five lenders to Adani Group and their exposure to the crisis-ridden conglomerate
All lenders have maintained that their exposure to the group is well within the limits and backed by strong collaterals. Banks also said there are no repayment delays so far.
BUSINESS
Navi Finance and other digital lenders accused of stealing borrowers’ phone books to harass their contacts for loan recovery
The Sachin Bansal-founded firm was earlier in the news for sending spam messages with details of customers’ permanent account numbers and other sensitive data
BUSINESS
Measures around crypto assets to be brought this year, says economic affairs secretary
The Union Budget 2023-24 did not outline regulations for crypto assets
BUSINESS
FM Sitharaman on Adani issue: 'Regulators monitoring the situation'
Banks and LIC came out with their exposure to the Adani group. The RBI released its statement on the same, the finance minster said.
BUSINESS
Banks likely to hike FD rates in line with new savings scheme in budget 2023, experts say
After Budget 2023 proposed a new small savings scheme offering 7.5 percent interest, experts say banks can hike interest rates on Fixed Deposits (FDs) to stay ahead of the competition and attract more customers
BUSINESS
Exclusive| Reliance Capital to challenge NCLT order in Supreme Court, say sources
NCLT, in its February 2 order, allowed Torrent Investments as the highest bidder for debt-ridden Reliance Capital
BUSINESS
Budget 2023: FM pushes for review of financial sector regulations
Financial sector regulators asked to carry out a review in consultation with business entities and people
BUSINESS
Budget 2023: Will the Rs 20 lakh cr agri credit target add to PSB woes?
Experts believe there isn’t much cause for concern as the focus is on value-added segments within the sector, and banks also do due diligence when advancing such loans
BUSINESS
Economic Survey 2023: Bank credit growth likely to be brisk in FY24
Bank credit growth has picked up significantly in the post pandemic period supported by revival in economy on ground
BUSINESS
Budget 2023: Here's a look at FM Sithraman's key banking sector announcements in the past
The government has unveiled key initiatives for the banking sector in recent years that include Insolvency and Bankruptcy Code reforms, bank privatization and the Central Bank Digital Currency. How far has implementation of these announcements progressed?
BUSINESS
Budget 2023: Fintechs, NBFCs look out for a liquidity booster from FM for financial inclusion
Union Budget 2023: As the government gets set to unveil the Budget, fintechs and NBFCs expect more liquidity support and initiatives to boost partnerships
BUSINESS
Race for deposits: Banks lure customers with new schemes, higher interest
Banks are seeking to boost term deposits to keep pace with growth in lending
BUSINESS
South Indian Bank eyes bigger pie of retail loans, to focus more on auto and homes
The lender recorded its highest-ever quarterly net interest income for Q3FY23, at Rs 825 crore, against Rs 573 crore on a year-on-year basis. Its net profit for the quarter was at Rs 103 crore, against a net loss of Rs 50 crore during the corresponding quarter last year.
BUSINESS
RBI extends locker agreement deadline to December 31. All you need to know
The central bank asked banks to lift curbs on locker operations that were frozen for not renewing agreements by the January 1 deadline.
