BUSINESS
IIFL Finance needs to focus on other verticals as RBI clamps down on gold loan: Experts
The lender in the January-March quarter of financial year 2023-24 reported a 10 percent year-on-year (YoY) drop in net profit.
BUSINESS
Incremental CD ratio stood at 90.8% as on May 31: RBI Bulletin
The RBI in the bulletin highlighted that credit growth of these banks stood at 16.1 percent for the same period, compared to 15.4 percent last year.
BUSINESS
Ghost of Andhra MFI crisis haunts again as lenders in Bengal, Assam charge up to 40% interest on loans
There is no cap on the interest rates as the RBI had in November 2022 removed limits on the pricing of loans given by these entities
BUSINESS
SabPaisa gets RBI’s approval to operate as a payment aggregator
Over the last few months, multiple payment companies or large merchant companies have been getting PA licences from RBI. The names include Razorpay, Cashfree, PayU, Amazon Pay, Google Pay, Tata Pay, Zomato, among others.
BUSINESS
Exclusive: Fibe plans to raise Rs 3,000 crore in debt in FY25; to expand pan-India reach, says co-founder
The company raised $90 million this month in a Series E funding round led by TR Capital, Trifecta, and Amara Capital.
BUSINESS
Interview| Kotak Mahindra Bank to go aggressive on new outposts, targets 200 branches in FY25, says senior official
The private sector lender will focus on increasing business with its existing customers following the RBI’s curbs on its credit cards operations and a section of digital business.
BUSINESS
Banks likely to record 12-14% loan growth on revival of demand: Moody's
In addition to growth moderation for NBFCs, the asset quality and earnings of NBFCs may come under pressure, with NPA likely to rise up to 30 basis points from March 2024 and earnings decline 20-40 basis points from fiscal 2024
BUSINESS
PSB privatisation, a long-time government target, may happen in FY25
Finance minister Nirmala Sitharaman, at an event in Mumbai on May 29, had said that bank privatisation will go on as per schedule.
BUSINESS
Financial inclusion and insurance penetration key for banking sector in NDA 3.0, say experts
The National Democratic Alliance secured a consecutive third term in power. This provides stability for the banking sector and a continuous approach towards policy making, say experts.
BUSINESS
Nirmala Sitharaman retains finance ministry: A look back at her key measures for banking sector
Among the key focus areas of Sitharaman are financial inclusion, merger of state-run banks and resolution of stressed assets in the banking sector.
BUSINESS
Change in bulk deposits’ limit may lead to deposit accretion for banks, say bankers
Bankers and analysts said that the jump in limit may lead to some change in interest rates on these deposits, which would turn favourable for the depositors.
BUSINESS
Bankers welcome revision of bulk deposit limit, RBI’s digital push
The central bank kept the repo rate unchanged at 6.5 percent in its June MPC meeting, the eight time it held interest rate steady
BUSINESS
Overall banking, NBFC, MFI sector stable, RBI watchful of risks, says Governor
RBI in the recent past has hammered down on some of the shadow banks.
BUSINESS
Economists expect RBI to start lowering policy rates from October
The central bank kept the repo rate unchanged at 6.5 percent.
BUSINESS
RBI plans to set up digital payments platform
The new platform will be used for network level intelligence and real-time data sharing across the digital payments’ ecosystem.
BUSINESS
Unsecured lending moderates after RBI caution, says Governor Das
In November 2023, the RBI had increased risk weightings on certain loan categories of unsecured credit by 25 basis points to signal to lenders to moderate the pace of high growth and manage stress.
BUSINESS
RBI changes bulk deposit definition for commercial banks, SFBs to Rs 3 crore
On June 7, the Monetary Policy Committee (MPC) of the Reserve Bank of India decided to keep the repo rate unchanged at 6.5 percent with a majority of 4:2
BUSINESS
Some MFIs, shadow banks charging high rates on small value loans, says RBI governor
In the second MPC meeting on June 7 for FY25, the central bank led committee kept the repo rate unchanged at 6.5 percent,
BUSINESS
Traditional gold loan lenders largely unaffected by RBI actions, says Muthoot Finance MD & CEO
The traditional gold loan lender is looking to increase its non-gold loan book to 20 percent from the existing 15 percent in the next three-four years.
BUSINESS
Stability at Centre key to faster reforms process, say bankers
In the wake of an election that did not yield a brute majority, industry voices say that a steady hand on the reins is imperative for removing roadblocks in the sector.
LOK-SABHA-ELECTION
Who is Suresh Gopi, BJP’s first MP from Kerala?
Before this, the BJP has never won a Lok Sabha seat in Kerala with the state having 20 Lok Sabha seats.
LOK-SABHA-ELECTION
INC and IUML win the Muslim focused seats in Kerala
The constituencies are Vadakara, Wayanad, Kozhikode, Mallapuram, Ponnani, Palakkad and Kollam.
LOK-SABHA-ELECTION
BJP opens account in Kerala as Suresh Gopi wins from Thrissur
With Gopi's victory, the BJP opened its account in Kerala as the party has never won a Lok Sabha seat in Kerala.
LOK-SABHA-ELECTION
INC wins four out of the six seats in Kerala's Cochin region
Kerala turned out to be a Congress stronghold in the past election. In the 2019 polls, the Indian National Congress (INC) secured a majority of the seats in the state, while the NDA failed to win a single one.
