Fintechs provide teenagers and those in their 20s, with easy credit to meet their day-to-day expenses
The package, aimed primarily at home buyers and real estate developers, is expected this week
The subdued numbers come at a time when dismal employment and low consumption demand have been dragging economic growth.
If the budget introduces measures to encourage savers to direct more flows to bank deposits, then banks could lower interest rates
Termed the 'Amazon Credit Builder', the programme lets users with no credit or bad credit build credit through a secured card.
Banks have been wary of defaults by NBFCs and the latest data confirm the liquidity crunch they are facing.
Representatives from the banks have met a few times to establish a live network to make supply-chain finance more transparent and secure
Cab aggregators are looking to diversify as business growth is slowing down. Softbank-backed Ola already does transactions and an NBFC licence will help it diversify into allied segments for growth.
The meeting will review the progress with respect of some of the decisions taken in the last meet on November 19.
The rate hikes by banks also indicate that banks are getting comfortable in their pricing power as the liquidity crunch and tighter access to the bond market is weighing on the NBFCs.
In this video, we demystify the popular myths surrounding plastic money.
A good credit score ensures that any loan you apply for gets sanctioned quickly. The score reflects one’s track record in handling credit.
Some of the best-known companies that have lowered loan funds include Gail India (-48%), Piramal Enterprises (-37%), National Fertilizers (-37%), L&T (-24%) Hindalco (-20%) and Jet Airways (-22%).
The numbers simply don’t add up. How can a country growing at 7 percent see its non-food credit grow at around 5 percent?
Indian banks' loans rose 4.4 percent in the two weeks to March 17 from a year earlier, while deposits rose 13 percent, the Reserve Bank of India's weekly statistical supplement showed on Friday.
Sale of stressed assets has fallen sharply in FY17, despite improved recognition by banks. Vinayak Bahuguna, CEO of ARCIL, the country‘s largest asset reconstruction company, in an exclusive interview with Malini Bhupta explains why banks are not willing to sell down their stressed assets and what can be done.
For India's cash-reliant economy, Prime Minister Narendra Modi's decision in November to outlaw old 500 and 1,000 rupee banknotes came as a big shock.
The cancellation of legal tender of 500 and 1,000 rupee notes has led to a slowdown in economic activity that weighed on demand for credit among companies and retail borrowers during the October-December quarter, it said.
Net profit surged more than four times to 2.0 billion pounds (USD 2.5 billion, 2.4 billion euros) in 2016 compared with net profit of 466 million pounds a year earlier, LBG said in an earnings release.
The rise in the borrowings of state governments would exert upward pressure on state development loan (SDL) yields in the financial year 2017-18, Roy said.
IFFCO and Bank of Baroda yesterday signed a Memorandum of Understanding (MoU) in this regard. The pact was signed by Yogendra Kumar, General Manager (Marketing), IFFCO and GB Panda, General Manager (government relationships), Bank of Baroda.
"If providers of PoS infrastructure don't make a reasonable return, that in some ways would inhibit growth of the acceptance infrastructure and that doesn't help the entire effort," its deputy managing director Paresh Sukthankar told reporters.
A report by India Ratings and Research today said in case of a 10 percent rupee depreciation in the financial year 2017-18, the aggregate net leverage of top 100 non-financial foreign exchange borrowers will increase to 5.6x from 5.1x in the financial year 2015-16, while interest coverage will reduce to 2.6x from 2.8x.
Net interest income during the quarter grew by 4.1 percent to Rs 4,333.73 crore compared with Rs 4162.06 crore in year-ago period, with loan growth of 10 percent at Rs 3.47 lakh crore as of December 2016.