Interestingly, the debit card payments online is likely to be much below last October’s figures, an indication that more people are shifting their online purchases to credit cards to avail offers
Currently, Groww platform has an active bond subscription open for Edelweiss Financial Services, which will end on October 16.
Foreign banks in India registered robust credit growth of 8.4 percent during the year 2024-25, a marginal increase from 8.1 percent in the previous year.
India’s foreign exchange reserves were down $10.87 billion at $688.871 billion on August 1. On July 4, they stood at $699.736
Some market veterans believe that more than the rate cut, investors may find support from a change in stance by the central bank, signalling a dovish tilt by the RBI.
Asian currencies are also trading down with Taiwanese Dollar down by 0.42 percent, Thai Baht down by 0.26 percent, Malaysian Ringgit down by 0.21 percent, and South Korean Won by 0.12 percent, according to the Bloomberg data.
India’s economic growth is not always bank-led
Sitharaman said state-owned banks need to engage proactively with NBFCs on co-lending for priority sector lending to enhance credit flow to the underserved sectors
The central bank in the Bulletin said that it purchased zero dollars and sold $2.54 billion during the period.
The weighted average lending rate on fresh and outstanding rupee loans of scheduled commercial banks declined by 53 bps and 49 bps, respectively, in the current easing phase.
RBI says GST reforms will boost ease of doing business, cut prices, and spur consumption, with MSMEs and startups set to gain from simplified rules.
This is the third such statement recorded by the Mumbai Police's EOW in this week. Prior to this, the police have recorded the statement of former IndusInd Bank Chief Financial Officer (CFO) Gobind Jain, and Deputy CEO Arun Khurana, this week.
A day earlier, the rupee ended at a record low against the dollar amid growing worries over remittances and IT sector growth after the H-1 B visa fee hike
Month-on-month growth tells a more nuanced story than headline numbers suggest
The RBI has conducted two variable rate repo auctions to inject liquidity in the banking system
According to Sudipta Roy, MD & CEO, L&T Finance V 3.0 of Project Cyclops processes 1,400 transactions per second as against the 100 transactions processed by V 1.0. Bounce rates for two-wheeler loans underwritten through this system have fallen from 20 percent to 7 -8 percent, he says
Payments, affordable housing, consumption finance including checkout financing are the new areas of interest for L&T Finance, as they blend with the company’s strategy on delivering return on assets and the risk profile of customers it targets.
In the last few months, some states has recorded excess to 'large excess rainfall' leading impact on kharif output. The heavy downpours have caused flooding and waterlogging in fields, especially during the critical growth stages of the kharif crop
The hike in fresh H-1B visa fee from next year has sparked worries over lower remittances, and potential equity outflows from India’s IT sector, which could be a double hit that the rupee could ill afford, at a time when foreign inflows have already been weak.
Asian currencies were trading down today with South Korean Won down by 0.22 percent, Thai Baht by 0.16 percent, Indonesia Rupiah by 0.08 percent, Singapore dollar, Japanese Yen and Hong Kong Dollar by 0.05 percent each, according to the Bloomberg data.
The dollar index, which measures the greenback's against a basket of six major currencies, rose to 97.774 in the early trade from 97.664.
Most of the past crises erupted not during downturns but amid seeming prosperity, often due to governance lapses, evergreening of loans and regulatory blind spots. Complacency can lead to another Yes Bank or PMC debacle
In March 2020, weeks before the onset of the Covid crisis, the RBI and government staged a rescue act which saw banks led by SBI taking a 79 per cent stake in Yes Bank and helping it stay afloat.
He also advised CCIL to keep pushing at the frontiers of technology, be ahead of others and provide world-class experience and world-class facilities, world-class risk management and improve upon the trust which they have already built for themselves.
The push into wealth management comes as the Indian lender deepens its ties with SMBC, Japan’s second-largest lender by assets, which completed its acquisition of a 20% stake in Yes Bank this week
