BUSINESS
Chanda Kochhar arrest highlights need for stronger checks, tighter scrutiny in credit process in banks: Experts
Kochhar was arrested on charges of cheating and rule violations to award Rs3250 crore loan to Videocon group against which Videocon promoter Venugopal Dhoot invested in NuPower Renewables, a company owned by Deepak Kochhar, husband of Chanda Kochhar
BUSINESS
Interview: Year 2023 will be big for payments banks, expect growth-supportive measures from RBI, says Fino Payments Bank CFO
Creating a level playing field with other financial institutions a must, hence expecting relaxation in end-of-the-day deposit and other services, Ketan Merchant, CFO, said
BUSINESS
Banking year-ender: What’s in store for Indian banks in 2023?
The banking sector benefitted from macro-economic recovery in 2022, but the year ahead poses challenges as well as growth opportunities, say experts
BUSINESS
Exclusive| Former RBI Deputy Governor Shyamala Gopinath pitches for stronger IBC process
Shyamala Gopinath suggested banks to fast-track process to facilitate early recovery. She said RBI measures, like the one which requires banks to report all large corporate credits to the central repository, is a positive one
BUSINESS
Banks go big on offers to attract customers as competition intensifies
Several banks are waiving service fees and providing exclusive offers that experts say will stay in place for some time
BUSINESS
Customer complaints against digital lenders soar in India, shows RBI data
Experts attribute the rise to aggressive lending, recovery practices
BUSINESS
Are banks deducting insurance premiums for government schemes from customers without consent?
Some customers including those from State Bank of India (SBI) and Canara Bank have taken to Twitter complaining banks are charging yearly premiums for government insurance schemes without consent
BUSINESS
Exclusive | Will focus on quality of loan book, hope to lower GNPAs to 5%: South Indian Bank CEO Murali Ramakrishnan
There is a need to pass on the higher interest rates to retail depositors which might cause some change in NIM for banks, the CEO said
BUSINESS
E-rupee rollout: Experts say security, transaction anonymity remain grey areas
User anonymity, security of digital wallets and confusion over offline transactions are among the concerns raised over the retail e-rupee
BUSINESS
Non-securitisation for short-term loans not a worry, say fintech lenders
While experts said that ban on securitisation would affect fintech companies, lenders are optimistic and are of the view that non-securitisation would not affect their business in the near future
BUSINESS
Retail CBDC’s penetration in the digital payments market may be slow, not steady, experts say
The retail Central Bank Digital Currency, when it is launched after the completion of the pilot, may be off to a slow start in the digital payments market. Experts suggest the dominance of the Unified Payments Interface is unlikely to be challenged
BUSINESS
Bankers foresee another interest rate increase by RBI in February as central bank pursues battle against inflation
RBI’s Monetary Policy Committee is seen to have kept the door open for a possible interest rate increase in its next policy review
BUSINESS
MC Explainer: Single block and multiple debits functionalities of UPI
The Reserve Bank of India (RBI) said in its MPC on December 7 decided to add a feature in the UPI platform to aid payments
BUSINESS
RBI will act to curb excessive volatility in rupee, says RBI governor
Shaktikanta Das says the story of the Indian rupee is one of resilience and stability and “we will continue to act for an orderly evolution of exchange rate”
BUSINESS
RBI to enhance UPI, will introduce facility measures
RBI said the payment system’s capabilities will be further enhanced by introducing single-block-and-multiple-debits functionality
BUSINESS
Alternative funding, tech-friendly and personalised services to boost digital lending, say experts
The main advantage of digital lending is easy access via mobile devices, and less paperwork and eligibility checks than in a traditional bank
BUSINESS
What bankers expect from Budget 23-24: greater capex, smaller deficit
The bankers also expect that the cost of doing business will improve, especially for MSMEs, and that financial inclusion will be expanded with greater digitisation
BUSINESS
Some Citibank customers are confused amid transfer of services
Customers are unaware of the alternatives they will get after the transfer of Citibank’s consumer business to Axis Bank
BUSINESS
STACK for real estate companies will focus on tech efficiency, says ICICI Bank Executive Director
STACK is a combination platform of digital and phygital solutions for companies in the real estate sector; it also offers digital bank account opening for RERA, besides other services
BUSINESS
Burgundy Private Hurun India 500: Reliance tops the list, two Adani units in top 10
In terms of percentage growth, Kolkata-based Vedant Fashions led the list, followed by Adani Power and BillDesk. By absolute value, the biggest gainers were Adani Total Gas, Adani Enterprises, and Adani Transmission
BUSINESS
Financial services sector will gain; banks to grow at least 1.5X, says Axis Bank Executive VP
Speaking at the release of the second Axis Bank’s Burgundy Private and Hurun India 500, Axis Bank Executive Vice-President, Affluent Business, Satheesh Krishnamurthy, said banks will benefit from wealth and financial sector formalisation
BUSINESS
India’s wholesale CBDC: How has it faring one month since launch?
The RBI introduced the pilot wholesale central bank digital currency (CBDC) on October 31, 2022. Insiders say, most traders are only testing this currency at this point in time and not taking positions. For taking positions, they are still going by the normal trading practices on the NDS-OM
BUSINESS
Assets of foreign banks flourish in 2022
Assets of overseas banks like Citibank, JPMorgan Chase and Deutsche Bank increased after falling in the previous year, data with the Indian Banks Association show.
BUSINESS
NBFCs to grow AUM 13-14% next fiscal, twice the pace seen this year - CRISIL
Additionally, unsecured loans, used vehicles financing and the MSME segment are expected to propel growth, CRISIL said on Wednesday
