BUSINESS
Five questions answered: Here's everything you wanted to know about Digital Banking Units
The RBI says that in time, DBUs are expected to migrate from standard offerings to more structured and customised products using hybrid and high-quality interactive capabilities.
BUSINESS
Amid consolidation, Godrej Group bets big on NBFC sector
In order to achieve the target of Rs 30,000 crore assets under management in four years, the Group is infusing Rs 1,500 crore into its financial services venture this month.
BUSINESS
Bandhan Bank will enhance IDFC AMC's brand value, retail presence: Arha
If one looks at the last 10 years trendline, the mutual fund industry has been growing between 15 percent-17 percent and it is likely to grow in same range for next 10 years, said Arha, the MD of Bandhan Bank's parent Bandhan Financial Holdings Limited
BUSINESS
HDFC sells 3% stake in Bandhan Bank via bulk deals
The shares of HDFC ended 0.2% lower at Rs 2,457.35 apiece on the NSE, while those of Bandhan Bank ended 2.9% higher at Rs 325 per share.
BUSINESS
CBDCs can replace cash transactions to some extent in India, says RBI Deputy Governor
"Over the last five years, while digital payments have risen at an average annual growth rate of about 50% roughly in India, the supply of currency has also almost nearly doubled, " T. Rabi Shankar said.
BUSINESS
Have all ingredients to succeed in India; will aggressively grow SME, consumer franchise in FY23, says DBS Bank India MD
Gold loans, MSME, credit cards and mortgages are four growth drivers for DBS Bank India in FY23, Joshi said.
BUSINESS
After HDFC mega merger, M&As in NBFC sector likely to rise, say experts
This is not the first time that there has been talk of consolidation in the NBFC sector. Lower-rated NBFCs have struggled accessing liquidity at cheaper rates since 2018 when the beleaguered IL&FS defaulted on debt repayments raising questions on their survival.
BUSINESS
Union Bank launches super app 'Union Nxt', to invest Rs 1,000 crore in tech in FY23
The bank is looking to invest nearly Rs 1,000 crore in building and upgrading its digital technology in the present fiscal, as per management.
MCMINIS
What is a moratorium?
BUSINESS
Exclusive interview: South Indian Bank eyeing 10% credit growth in FY23; will likely raise Rs 500 crore this fiscal, says MD
Fintechs need to work with banks as they understand credit much better because of their experience of going through several cycles, Ramakrishnan said.
BUSINESS
Requested RBI for phased full implementation of SLR, CRR, says Deepak Parekh
Reserve Bank of India is considering HDFC Bank’s request. SLR, or the percentage of deposits banks have to invest in government bonds, and CRR, or the portion of deposits that banks must hold in liquid cash, are now 18 percent and 4 percent, respectively.
BUSINESS
HDFC-HDFC Bank merger: What does it mean for depositors and borrowers?
The merger could take up to 18 months to be completed and after that depositors will be offered HDFC Bank’s deposit rates
BUSINESS
Banks go aggressive on co-lending; SBI, Union Bank lead with a dozen pacts in six months
SBI alone has signed at least eight co-lending agreements in the past six months, followed by Union Bank with three such pacts.
BUSINESS
'Deal of a lifetime': Axis Bank’s Amitabh Chaudhry cheers Citibank India's portfolio buyout
Apart from improvement in the CASA ratio, net interest margin, and credit card market share, the deal would also give Axis Bank access to the premium set of high spending customers.
BUSINESS
IL&FS Board resolves Rs 55,000 crore debt so far: 5 key questions answered
IL&FS stepped into trouble after a subsidiary, IL&FS Transportation, defaulted on loan repayment in 2018.
BUSINESS
Retail, MSME stressed loans to push up FY23 distressed asset deals, experts predict
Stressed deals are expected in both secured and unsecured loan segments of retail and MSME sectors, said Anil Gupta, vice president and sector head of financial sector ratings at ICRA.
BUSINESS
Supertech insolvency: Resolution professional may call for claims from creditors tomorrow
With Supertech going into insolvency, over 25,000 homebuyers may have to wait longer for delivery of their flats, experts said.
BUSINESS
Supertech mess: Experts say long wait ahead for creditors including homebuyers; lenders cautious
Supertech went into insolvency on March 25 after the Delhi bench of NCLT admitted a petition filed by Union Bank of India for non-payment of dues. The company plans to move the appellate tribunal with an appeal.
BUSINESS
Exclusive Interview | M&M Finance expects disbursements to grow 40-45% in FY23, bad loans to fall to 6-7%, says MD Ramesh Iyer
M&M Finance is keen to look at gold loans as a key business vertical.
BUSINESS
SEBI imposes Rs 5 lakh penalty on Axis Bank for violating merchant banking norms
The regulator conducted an examination of debt market operations of Axis Bank between August 2016 to August 2019 and found the bank to be in violation of provisions of Regulation 27 of SEBI (Merchant Bankers) Regulations, 1992.
BUSINESS
HDFC approves over Rs 2 lakh crore of retail home loans in FY22
Going ahead, in view of the growing risks around climate change, HDFC will also increase its footprint in funding affordable, smart and green housing projects, it said.
BUSINESS
Government’s crypto clarification may lead to fall in speculative trading, experts say
Leading cryptocurrency players in India called the March 21 clarification regressive in nature.
BUSINESS
Aiming for 25-35% AUM growth in FY23, says Suryoday Small Finance Bank MD
“We want to deepen our relationship not only through microfinance loans but also through other asset classes like two-wheeler loans which we will be introducing next fiscal," Baskar Babu said.
BUSINESS
Shriram City Union’s housing finance subsidiary may hit IPO market after reaching Rs 10,000-crore AUM mark, says MD & CEO
Whether I have anything to say to the regulator, it is already done and dusted. The regulator is slowly moving us towards bank-like regulations or even tighter. Today we are probably governed tighter than banks on classification of NPAs, YS Chakravarti said.
