BUSINESS
Stage 3 loans of NBFCs decline sharply in one year, signalling better asset quality
As per analysts, better repayment by borrowers, efficient recovery by the NBFCs and some write-offs could have contributed to this improved performance.
BUSINESS
MC Interview | Shriram AMC to focus on hybrid funds: Umesh Revankar
Shriram Capital is looking to start the asset reconstruction business this financial year, said the Executive Vice-Chairman.
BUSINESS
Shriram Capital applies for Asset Reconstruction Company licence with RBI
He further added that the ARC will be 100 percent subsidiary of Shriram Capital.
BUSINESS
Banks see mixed trend in SMA 2 loans in Q2FY24; most witness deterioration
In the July-September quarter, the country’s largest state-owned lender, State Bank of India, reported a fall in SMA category loans to Rs 1,784 crore, as on September 30, 2023, compared to Rs 1,921 crore a year ago.
BUSINESS
Unsecured loans constitute 23% of Bank of India's books
The RBI had earlier flagged concerns about a sharp surge in banks' unsecured loan book.
BUSINESS
Cholamandalam Investment to borrow Rs 10,000-12,000 crore over next two quarters, says CFO Arul Selvan
Selvan said the company’s net income margins can expand by 10-20 basis points.
BUSINESS
91-day Treasury bill cut-off yield rises to highest level in FY24
According to RBI data, the cut-off yield on the 91-day treasury bill was 6.9349 percent on October 25, the highest this fiscal year. It dropped to 6.9325 percent on November 1.
BUSINESS
MC Exclusive | Online bond platforms to register new industry body soon
In June, Moneycontrol reported, citing sources, that a clutch of online bond platforms in India will likely form an industry association in the next three to four months.
BUSINESS
Domestic market hopeful that Bloomberg will add Indian bonds to index
The optimism stems from Bloomberg’s ongoing review meetings to get feedback from users on topics related to its fixed income indices.
BUSINESS
RBI’s wholesale pilot of CBDC losing steam after one year, data shows
According to data compiled by Moneycontrol on the wholesale pilot of CBDC, in November, transactions worth Rs 7,140 crore were settled using digital currency, with the number of trades registered being 759.
BUSINESS
Shriram Finance to borrow around Rs 60,000 crore by FY24 end, says MD & CEO YS Chakravarti
The company's net interest margins stood at 8.93 percent in the second quarter of the current financial year, as compared to 8.26 percent in the year-ago period.
BUSINESS
States’ weighted average borrowing cost rises to highest level in FY24
So far in the October-December quarter, the amount raised by state governments is higher than the indicative amount
BUSINESS
Kotak Mahindra Bank’s new CEO to give tech push, but has tall task ahead: Experts
Kotak Mahindra Bank, in an exchange filing on October 21, said that the Reserve Bank of India has approved the appointment of Ashok Vaswani as the MD and CEO of the Bank.
BUSINESS
Meet Ashok Vaswani who replaces Uday Kotak as CEO of Kotak Mahindra Bank
Vaswani has a three-and-a-half decade of experience with Citi Group, and more recently with Barclays.
BUSINESS
Bank investments in G-Sec, SDLs rise 19% in October, RBI data shows
Yields on government bonds have remained higher since last year after the central bank increased interest rate to tame inflation
BUSINESS
Call and short-notice money rises sharply in October on tight liquidity conditions
The data also showed that money at call and short notice of scheduled commercial banks stood at Rs 30,585.24 crore as on October 6 this year versus Rs 12,565.49 crore on October 7, 2022
BUSINESS
MC Newsbreak confirmed | RBI starts wholesale digital rupee pilot in call money market
In an exclusive piece on October 12, Moneycontrol was the first to report that the RBI had started a wholesale pilot of Central Bank Digital Currency in the call money market
BUSINESS
Self-regulatory body for fintechs likely this year, says RBI's Choudhary
The RBI was not in a hurry to go for fintech regulations but the sector needed a self-regulatory organisation, RBI's executive director Ajay Kumar Choudhary said
BUSINESS
Online bond platforms add fixed deposits to expand their offerings
GoldenPi and Wint Wealth sell Bajaj Finance’s FD on their platforms, as per their websites.
BUSINESS
MC Interview | Wint Wealth will offer Fincare SFB’s FD on bond platform: CEO Ajinkya Kulkarni
The Online bond platform is well capitalised for the next 3-4 years, said Kulkarni, the Chief Executive Officer and Co-founder of Wint Wealth
BUSINESS
RBI may announce OMO sales in November as liquidity conditions ease: Experts
According to RBI data, bonds worth Rs 53,925.286 crore are due to mature on November 2, while bonds worth Rs 56,572.719 crore and Rs 32,500 crore are set to mature on November 25 and 29, respectively, infusing cash into the economy.
BUSINESS
HDFC Bank sees 5-10 bps I-CRR impact on net interest margins, says CFO Vaidyanathan
Further Vaidyanathan said bank has taken certain calls on liquidity management for the coming quarters.
BUSINESS
Call money market volumes remain low despite RBI nudge
Since the start of this month, volumes in the call money market remained in the range of Rs 9,000 crore to just over Rs 10,000 crore
BUSINESS
Inflation cools off beyond expectations but uncertainty lingers, say experts
Experts also highlighted that what the central bank will look at is a pause in repo rate at least in the fiscal year 2023-24.
