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Banks’ loan book to grow 14-15% YoY in FY23; GNPAs seen at 5% by March end, analysts say

BUSINESS

Banks’ loan book to grow 14-15% YoY in FY23; GNPAs seen at 5% by March end, analysts say

Credit growth will be led by strong demand from corporate and individual borrowers as well as micro, small and medium enterprises, rating company CRISIL said.

ECL approach for provisions will lead to sustainable loan growth, increase due-diligence, bankers say

BUDGET

ECL approach for provisions will lead to sustainable loan growth, increase due-diligence, bankers say

As per RBI’s latest data, banks’ outstanding non-food credit grew 16 per cent year-on-year (YoY) to Rs 124.30 lakh crore as on August 26, higher than 6.7 per cent growth registered a year ago.

After Hazaribagh incident, RBI to introduce master directions on outsourcing of recovery agents

BUSINESS

After Hazaribagh incident, RBI to introduce master directions on outsourcing of recovery agents

The Hazaribagh incident has triggered a debate on the strong arm practises some lenders apply in their business for rapid growth.

Card tokenisation: Banks gear up for new regime, yet challenges persist with small merchants

BUSINESS

Card tokenisation: Banks gear up for new regime, yet challenges persist with small merchants

India’s banking regulator has thrice extended the deadline for lenders’ compliance with tokenisation norms.

Small loan borrowers' repayment behaviour improving after being affected “temporarily” by moratoriums, MFIs say

BUSINESS

Small loan borrowers' repayment behaviour improving after being affected “temporarily” by moratoriums, MFIs say

As per MFIN’s latest micrometre report, overdue micro loans are gradually decreasing in numbers.

Fintech Files Part-1: What they are and what they do

BUSINESS

Fintech Files Part-1: What they are and what they do

Relying on smartphones for almost everything has become the new normal in today’s fast-paced world, particularly when it comes to financial services. But it is actually the financial technology in the background that enables these services, making transactions a simple act of a touch or a click. Here’s a primer on the basics

NBFCs must have 'zero tolerance' for strongman recovery tactics, bankers say

BUSINESS

NBFCs must have 'zero tolerance' for strongman recovery tactics, bankers say

Mahindra Finance was barred by RBI on September 22 from using third-party recovery agents after the Hazaribagh mishap involving a repossessed vehicle came into the spotlight.

Raising growth capital to be Central Bank of India’s top priority post-PCA exit

BUSINESS

Raising growth capital to be Central Bank of India’s top priority post-PCA exit

The bank’s management expects credit growth to pick up after its exit from the Reserve Bank of India’s Prompt Corrective Action (PCA) list.

Hazaribagh incident: Did Mahindra Finance follow RBI directives on recovery agents?

BUSINESS

Hazaribagh incident: Did Mahindra Finance follow RBI directives on recovery agents?

The death of a 27-year-old pregnant woman in Jharkhand's Hazaribagh, after being crushed under the wheels of a vehicle financed by Mahindra Finance, once again throws the spotlight on the strong-arm tactics NBFCs apply for loan recovery.

Exclusive | SBI’s largest BC partner SAVE Solutions eyes IPO in FY25

BUSINESS

Exclusive | SBI’s largest BC partner SAVE Solutions eyes IPO in FY25

Save Solutions MD & CEO said the company was also open to acquiring broking agencies and other NBFCs, depending on valuation.

We are open to fintech partnerships, says Kotak Mahindra Bank’s new CTO

BUSINESS

We are open to fintech partnerships, says Kotak Mahindra Bank’s new CTO

Exclusive Interview | Milind Nagnur, the first CTO of Kotak Mahindra Bank, envisions banks as tech-focused organisations and says the customer’s idea of trust has changed

Festive Frenzy | Banks line up cheaper loans, special offers to woo retail borrowers

BUSINESS

Festive Frenzy | Banks line up cheaper loans, special offers to woo retail borrowers

HDFC Bank and ICICI Bank have launched campaigns to lure festive shoppers with discounts on a range of products and services.

Interview | Must find UPI monetisation path, says BoB CDO Akhil Handa

BUSINESS

Interview | Must find UPI monetisation path, says BoB CDO Akhil Handa

BoB was the third-largest UPI remitter bank in India in August with 43.25 crore transactions conducted on the bank’s servers during the month

MC Explains | As Kotak Bank writes to RBI on standard fraud disclosure norms, 7 key questions answered

BUSINESS

MC Explains | As Kotak Bank writes to RBI on standard fraud disclosure norms, 7 key questions answered

Private banks reported more frauds than their public sector bank peers in FY22 but the amount involved was lower than that of PSU lenders

Shriram group merger: STFC, SCUF may start working together from October

BUSINESS

Shriram group merger: STFC, SCUF may start working together from October

The merged entity would be known as Shriram Finance, with AUM of over Rs 1.5 lakh crore, and a distribution network of over 3,500 branches.

RBI in talks with 4 banks, fintechs for digital currency launch this financial year

BUSINESS

RBI in talks with 4 banks, fintechs for digital currency launch this financial year

The RBI is working on phased implementation of CBDC in both the wholesale and retail segments, RBI ED Ajay Kumar Choudhary said in July.

RBI prodded bank for IPO, will apply for new branches post- share sale: Tamilnad Mercantile Bank MD says

BUSINESS

RBI prodded bank for IPO, will apply for new branches post- share sale: Tamilnad Mercantile Bank MD says

TMB has a network of over 500 branches in both rural and urban areas, with a majority located in southern states.

Bankers set eyes on double-digit loan growth in FY23 as credit demand makes comeback

BUSINESS

Bankers set eyes on double-digit loan growth in FY23 as credit demand makes comeback

Low base, small ticket size loans, working capital requirements, and a shift to bank borrowings on account of high yields in the capital market continue to drive growth, rating agency CARE Edge said in a note on Tuesday.

Kotak Bank says wrote twice to RBI noting significant variance in frauds reported by other banks

BUSINESS

Kotak Bank says wrote twice to RBI noting significant variance in frauds reported by other banks

The private bank claimed there is a significant variance in what is chosen to be reported to the regulator by other banks.

MC Investigation | Indian banks' repeated failures on mobile, internet platforms show the rot runs deep

BUSINESS

MC Investigation | Indian banks' repeated failures on mobile, internet platforms show the rot runs deep

Core banking systems that can't keep pace with rising load and fast digital changes, lack of an adequate number of talented tech professionals, and reluctance to invest in infrastructure for unremunerative UPI mean more system outages and glitches.

What are teaser loans?

MCMINIS

What are teaser loans?

Difficult to rely on authorities’ approval for sanctioning realty loans, bankers say on Supertech mess

BUSINESS

Difficult to rely on authorities’ approval for sanctioning realty loans, bankers say on Supertech mess

The construction of Supertech’s twin towers was done in collusion with the Noida Authority, the Supreme Court had said in its order on August 31, 2021.

Profits to improve from Q2 onwards on higher yields: Muthoot Finance MD

BUSINESS

Profits to improve from Q2 onwards on higher yields: Muthoot Finance MD

Total loans de-grew sequentially mainly on account of higher gold loan auctions conducted during Q4FY22 and Q1FY23, MD said.

RBI crackdown on digital lenders to hit NBFC, fintech business models, raise costs

BUSINESS

RBI crackdown on digital lenders to hit NBFC, fintech business models, raise costs

The RBI’s digital lending guidelines will raise operational intensity for lenders in the near term and prod fintechs to become regulated entities.

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