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The life insurer’s 40 percent business comes from the rural market, said MD and CEO Casparus Kromhout. The insurer has been facing lower persistence among its customers in this region. To tackle this, Kromhout said that the insurer is looking at finding new solutions viz. introducing a quick disbursal and resolution mechanism among others.
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The investment to these companies peaked in 2022 after which PEs and VCs have been shying away from investing more in these companies.
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As of June 30, 2024, the bank had around 48 percent of its co-branded credit card book from Bajaj Finance. Going ahead, the bank will look at reducing the dependency on Bajaj Finance and focus on a branch led model with focus on its existing customers, said Bikram Yadav, Business Head, Credit Cards.
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An article by RBI staff published in the August bulletin projects a significant pick-up in private investments in 2024-25 backed by rising demand and cleaner books of companies, banks. Will banks benefit from this growth?
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This festive season, UCO Bank, Canara Bank and Bank of India offer best car loans at interest rates between 8.45 and 8.85 percent on loans of Rs 5 lakh with a five-year tenure.
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The real test, in terms of both funding and asset quality, will come when corporate investment revives or when infrastructure projects shift from government funding to banks
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Tighter regulations may have put P2P lending platforms in a spot of bother, but the guidelines bring in better clarity and transparency.
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Vigilance is key to avoiding fraud. Given that most payment scams follow similar patterns, it's possible to stay safe and not fall prey to such hustles.
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In a regulatory filing, the lender said that a wholly owned subsidiary will undertake asset management business of Mutual Fund along with infusing equity capital in the said asset management subsidiary.
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The inflows were higher in all three accounts such as Non-Resident (External) Rupee Accounts [NR(E)RA], Non-Resident Ordinary (NRO) and Foreign Currency Non-Resident [FCNR(B)] accounts.
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In May, the central bank had bought a net of $4.222 billion in the spot market.
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CP issuances also increased to Rs 4.86 lakh crore during 2024-25 (up to July 31), surpassing Rs 4.72 lakh crore in the corresponding period of the previous year, driven by NBFCs’ higher borrowings in the CP market.
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In the past few months, banks have been facing the highest deposit crunch with household savings going to other markets.
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Despite the moderation in headline inflation and overall food inflation, year-on-year inflation in cereal prices remains high at 8.1 per cent in July.
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In 2018, when the Chinese regulator clamped down on the P2P model, many businesses shut shop in a matter of months. Industry observers say norms introduced by the RBI recently may result in a similar situation in India.
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The Karnataka government on August 12 ordered all departments to close their accounts in SBI and PNB but four days later, it decided to keep the circular in abeyance for 15 days on the request of the two lenders
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In addition to the borrowing targets, Sadaf Sayeed said that the company will look at growing slowly in Bihar due to issues pertaining to stress on the portfolio and will focus on Telangana and Andhra Pradesh and other south-Indian states.
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The liquidity in the banking system, which was in the deficit mode for the so long has started getting in to surplus mode since June 27 due to government spending.
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Commercial real estate loans are attractive bets for banks but can turn risky in a downturn when vacancies soar
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The gold loan lender reported higher expected credit loss (ECL) provisioning in the quarter which affected the asset quality.
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Typically, the banking regulator issues mild warnings to the industry before actual clampdown. P2P lenders need to read the signals now
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Gift your sister a term deposit, a SIP in mutual funds, enrol her for a financial planning workshop or book an appointment with a financial adviser to make a personalised investment plan.
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The meeting is also expected to cover the potential rollout of the Viksit Bharat card, aimed at enhancing digital payment systems. Additionally, an update on the accounts being transferred to the National Asset Reconstruction Company Limited (NARCL), commonly referred to as the 'bad bank,' will be provided
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The banking regulator said the platforms shall not assume any credit risk, provide credit enhancement or guarantee, shall not cross sell any product except for loan specific insurance products
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Bali had on June 13 this year had stepped down from his position of group executive of retail lending at Axis Bank after a stint of four years.
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The MFI sector has been facing issues concerning charging high interest rates in some pockets. The regulator recently highlighted this. The self-regulatory organisations for the sector bring in norms like a cut in lending rates, extra layer of underwriting, etc. Will this hurt the sector?
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Government spending has been a harder variable to predict
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While the MPC has managed to bring inflation within the 6% upper band, comfortably landing at the 4% medium-target remains a work in progress
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If you have no savings yet but have some surplus income, start by gradually building up an emergency fund.
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In the financial year 2023-24, bank credit rose 19.12 percent in the FY24 to Rs 169.14 lakh crore, as compared to Rs 142 lakh crore in the year ago period. On the other hand, deposit grew 13.4 percent on-year to Rs 212.54 lakh crore by the end of FY24.
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Borrowers are applying for small-ticket personal loans to meet immediate financial needs, such as medical expenses, debt consolidation, home renovations, holidays, education costs, and the like. Before applying for a loan, it is important to evaluate the key fact statement and other parameters.
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This Independence Day, we urge everyone to take concrete steps towards achieving financial freedom systematically by setting life goals, analysing cash flows, investing wisely and more.
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Maini spent more than 14 years at Citigroup, according to a profile on Linkedin, and most recently led the digital assets team under the markets division.
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Declining CASA ratios are adding to the cost of funds for many banks, thereby forcing them to up lending rates as well to manage margins. The problem may persist going ahead as interest rate differentials persist
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This potential acquisition could mirror a precedent set in 2018 when the RBI allowed Canada's Fairfax Holdings Ltd to acquire a 51% stake in Kerala-based Catholic Syrian Bank, marking the first time a foreign investor gained majority ownership in an Indian bank.
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Effective January 1, 2025, the RBI wants lenders toreport credit data at least once a fortnight, on the 15th and the last date of the month. This is expected to ensure better risk management and more responsible credit behaviour.
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The revised regulations will be applicable from January 1, 2025.
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The 10-member 'Expert Committee on Benchmarking of its Statistics' will submit its report by the end of November 2024.
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For the year ending March 2024 HDFC Bank has declared an equity dividend of Rs 19.5 per share.
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Barring ICICI Bank, Punjab National Bank, Central Bank of India and AU Small Finance Bank, which witnessed increase in treasury income, other reported a dip.
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Even though banks have been struggling to raise deposits, data suggests that the deposit accretion has improved in the recent months
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When a loan is written off, it is removed from the bank's asset books, reflecting the lender's acknowledgment that the borrower is unlikely to repay.
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The merger, finalized on April 4, 2022, is considered the largest transaction in the history of Indian corporations.
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Chakraborty's remarks come at a time the banking sector is experiencing sluggish deposit growth, partly due to the increasing attractiveness of alternative investment options for household savings.
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On the inflation front, Chakraborty said that timely interventions of the Reserve Bank of India (RBI) and its monetary policy actions have been crucial in combating inflation.
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With the increase in the MCLR, the interest rates on loans are also likely to rise by a similar measure, and EMIs rise on linked loans.
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After the final listing norms, overseas as well as domestic unlisted companies will be able to file offer documents with the IFSC exchanges
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Executive director Pramod Rao has said SEBI is very eager to partner corporate India on sustainable finance, transition and net zero goals through the bond market
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Among the provisions is the option of adding four nominees per bank account, as against the existing practice of one.
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The Bill also seeks to give greater freedom to banks in deciding the remuneration to be paid to statutory auditors.
