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.
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.
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.
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.
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.
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
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.
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.
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.
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.
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
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.
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
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
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.
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.
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.
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.
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.
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.
MCMINIS
What are teaser loans?
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.
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.
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.
