BUSINESS
Exclusive | Poonawalla Fincorp bets big on digital and organic growth, says MD
The NBFC reported its highest ever quarterly net profit in the October-December quarter.
BUSINESS
IDBI Bank expects to achieve bad loan recovery target for FY23, says MD
The bank will explore ways to expand unsecured lending in a cautious manner, the MD said.
BUSINESS
Bucking the trend: Amid global layoffs, Indian banks look to add more staff
Several Indian banks added thousands of employees in 2022, even as global banking giants cut their workforce by thousands
BUSINESS
ICICI Bank ED: SME lending growing at healthier pace, focus is on customer quality
ICICI Bank's net interest income rose 34.6 percent to Rs 16,465 crore from Rs 12,236 crore in the corresponding quarter last year.
BUSINESS
MC Exclusive | Expect growth to return to pre-pandemic levels: Bandhan Bank Chief
The drop in profit in the December quarter was majorly due to loan restructuring but the asset quality is strong and the bank expects to see a steady uptick in deposits
BUSINESS
Budget 2023: Fintechs demand more allocations, tax reforms and bank partnerships
Budget 2023 expectations: Lenders operating in the fintech space pitch for easing of taxes alongside special budgetary allocations for the sector to grow.
BUSINESS
MC Explainer: How can banks use ChatGPT?
ChatGPT, an AI powered chatbot, can create high-powered conversations that experts say could be beneficial as well as risky for banks.
BUSINESS
Banks go big on partnerships to expand services, lure customers
Lenders are tying up with global companies, fintechs and other organisations to provide additional and advanced services to their customers.
BUSINESS
Budget 2023: Microfinance lenders pitch for flexibility in inclusion schemes, tax relaxations and lower borrowing costs
Voices from small lending companies are expecting reforms from the budget pertaining to their core lending business alongside leeway with other financial institutions
BUSINESS
Budget 2023: Expect some tighter regulations for the crypto sector, experts say
Budget 2023: After RBI Governor Shaktikanta Das again highlighted the regulatory and fundamental problems with cryptocurrencies, experts now expect additional regulatory measures for the sector in the Union Budget
BUSINESS
How did HDFC Bank manage the highest ever deposit growth in Q3? Here’s what experts say
Analysts said HDFC Bank’s strong franchise network across customer segments and its competitive deposit rates boosted deposit growth
BUSINESS
MC Explainer | Can banks refuse to communicate in the local language to customers?
Reserve Bank of India (RBI) guidelines say that it is mandatory for banks to use a regional language with Hindi and English for communication
BUSINESS
NRIs high-five NPCI decision to allow UPI on international mobile numbers
NRIs are likely to use UPI only for small ticket size purchases due to the daily transaction limit. Also, NPCI needs to address the tech glitches that plague the platform, which peaked on new year’s eve
BUSINESS
Budget 2023 | Gold, affordable housing lending may find focus, says Shriram Finance MD & CEO
YS Chakravarti is of the view that there is a need to lower the limit for invoking the SARFAESI Act for NBFCs to enable faster resolution of stressed assets
BUSINESS
Reliance Capital Insolvency: Is there a conflict of interest in Hinduja Group’s bid? Here’s what experts say
IndusInd bank, which is one of the lenders to Reliance Capital, is promoted by Hinduja Group, which is also one of the top bidders for Reliance Capital
BUSINESS
Why some customers complained about bank locker renewal rules
Some customers took to social media to highlight the hassles and confusion they faced at bank branches while renewing their lockers
BUSINESS
NBFCs brace for tougher year as tight RBI regulations, competition pose challenges
RBI has tightened its grip on NBFCs post collapse of Dewan Housing and IL&FS
BUSINESS
MC Explains: What is Annapurna Finance which has applied for a universal banking licence from RBI?
Annapurna Finance Private Ltd is involved in microfinance lending to women borrowers under self-help groups as well as individual, housing and MSME loans
BUSINESS
Investigators probe Venugopal Dhoot’s involvement in a second loan fraud case
A second FIR alleges that a consortium of banks led by the SBI issued SBLCs for $3,876.60 million to Videocon Hydrocarbons, in violation of rules and without minimum due diligence.
BUSINESS
Rajnish Kumar interview| When Rakesh Jhunjhunwala said he didn't trust SBI's books
The former chairman recalls meeting the ace investor in the SBI office and what Jhunjhunwala said
BUSINESS
Customers with some banks complain of issues concerning re-KYC
Some customers were told to visit branches to redo their know-your-customer formalities despite the digital re-KYC mandate by the Reserve Bank of India. Others faced technical glitches on websites and mobile applications
BUSINESS
Customers complain of erroneous entries in CIBIL report that impeded grant of loans
Some customers took to Twitter to complain about entries of unpaid dues on loans and credit cards which they did not apply for in their CIBIL report
BUSINESS
RBI cancels licences of 12 cooperative banks in 2022; will 2023 be a better year?
Cooperative banks, which have played a critical role in extending banking services in the villages, have been confronting a range of issues
BUSINESS
High bank deposit rates lure mutual fund investors to FDs
With many banks offering interest rates between 6.25 per cent and almost 8 percent on FDs, people are parking funds in them for the short term. In the last 6-7 months, yields on MFs have been restricted to around 6-6.5 percent
