BUSINESS
RBL Bank to return to pre-pandemic level of growth this fiscal, MD says
RBL Bank’s total deposits grew 6 percent YoY to Rs 79,216 crore at the end of June, sharply lower than the industry standard.
BUSINESS
Can't disclose IDBI Bank disinvestment status or timeline, says Centre in RTI reply
The government cited 'economic interests' of the state while expressing inability to share the details in response to an RTI query filed by Moneycontrol
MCMINIS
What is kitchen sinking?
BUSINESS
Rupee @80 | Top seven things to look out for as the currency stays downhill
As per experts, investors will keenly eye the trajectory of oil prices and the DXY index going ahead
BUSINESS
Crypto investors take to Twitter over problems in cash withdrawals
“When this will get resolved, all our hard earnings has been blocked...,” a BitBns user complained on Twitter.
BUSINESS
Expect stressed loan auction to conclude in 60-75 days, says YES Bank MD
As per Kumar, JC Flowers has submitted a base bid of over Rs 11,000 crore for the bad loan pool and any bidder has to match the offer or bid higher to acquire YES Bank’s stressed loans
BUSINESS
RBI may tighten rules for fintechs as customer complaints rise
According to people aware of the matter, the central bank has already held discussions with stakeholders on various issues.
MCMINIS
What is securitisation?
BUSINESS
Spandana Sphoorty's new MD opts for kitchen sinking, but Q4 financials worry analysts
After he is done with that process, the new chief of the microlender plans to increase the number of branches to 1,500 by FY25-end from 1,120 as of March 31.
BUSINESS
Banks to see pick up in credit growth, lower stress in June-quarter but treasury losses may continue, say experts
Provisional credit growth data filed by lenders with stock exchanges point to a revival in credit demand.
BUSINESS
Retail loans key for Piramal Enterprises NBFC arm’s sustained growth ambitions: Experts
While the NBFC was able to lower share of wholesale loans to 64 per cent as on March end from 88 per cent last year, it reported a net loss of Rs 321 crore during Q4FY22 on account of higher provisions made for stressed non-real estate wholesale loans.
BUSINESS
In a first, Union Bank of India launches virtual banking lounge on Metaverse
As per sources, country’s largest lender State Bank of India (SBI) is also in final stages of launching a Metaverse store.
BUSINESS
Will borrow up to Rs 3,200 crore from banks, NCDs in FY23; aim for IPO post 2027, say Muthoottu Mini officials
As on March end, the NBFC’s total AUM stood at Rs 2,499 crore.
BUSINESS
Interview: Citi deal on track, will grow cards portfolio aggressively in FY23, says Axis Bank executive Moghe
Some new partnerships between Axis Bank and fintechs may take shape due to RBI’s recent clarification on loading credit lines on wallets, Moghe said.
BUSINESS
Shriram Transport Finance MD says expect merger completion in 2-3 months
In an exchange filing today, STFC said that as per the consolidated shareholder voting results, 98.1 percent of votes were cast in favour of the resolution while 1.9 percent of shareholders voted against the resolution.
BUSINESS
Early winter for Indian crypto exchanges as trading volumes slump, users flock to foreign exchanges
Bitcoin, considered the safest cryptocurrency, has plunged over 71 percent from its all-time high to $19,895.75 as of 1400 IST on Tuesday.
BUSINESS
Payments Bank model can be cracked, but RBI should allow small-ticket loans to boost growth, says Fino PB MD Gupta
Gupta was referring to RBI guidelines that say Payments Banks cannot lend; they also cannot accept deposits in excess of Rs. 2 lakh.
POLITICS
'Paksha Pramukh to take final call on rebel leaders': Mumbai Mayor Kishori Pednekar
Her comments come in the backdrop of Maharashtra Chief Minister Uddhav Thackeray resigning from his post late June 29.
BUSINESS
Paytm Payments Bank SFB plans gets delayed; IT audit report to be submitted to RBI in 2-3 weeks: Sources
Paytm Payments Bank commenced its operations on May 23, 2017 and completed five years of operations last month.
BUSINESS
RBI will continue reforms till fintechs do not self-regulate: Online PSB Loans MD
Fintechs provide infrastructure services to banks and NBFCs for sourcing and maintenance of new products and charge a fee for the same.
BUSINESS
Explained | Why RBI laid out draft norms for IT services outsourcing by banks
Regulated entities intending to outsource any of their IT activities are expected to put in place a comprehensive board-approved IT outsourcing policy, central bank said.
BUSINESS
SBI versus HDFC Bank: How will the battle of titans in Indian banking shape up?
On April 13, SBI Chairman Dinesh Khara had said that the bank will likely see more than 10 per cent loan growth in FY23.
BUSINESS
As Shriram Group merger nears completion, 500 branches of STFC, SCUF to cross-sell products: MD
Within two months, the 500 branches will likely generate leads of up to Rs 400 crore of loans, SCUF's MD Chakravarti said.
BUSINESS
SME owners say GST enabled uniform taxes but call for lower rates, easier compliance norms
GST collections crossed Rs 1.40 lakh crore mark for the third consecutive month in May, as per latest government data.
