Lenders

Bank Of Baroda Enhances Lending To MSMEs

Baroda Smart OD, Baroda Mahila Swavalamban Launched

10 Hours Ago

HSBC India Offers Credit Card For Global Private Banking Clients

The launch in India is part of a global programme to offer elevated travel, exclusive access and exceptional lifestyle experiences to its clients.

13 Hours Ago

CRR Cut Mildly Offsets Wide Fluctuations in Govt Cash Balances: Ghosh

RBI expected to cut rates in February 2025 cumulative 75 bps and such a decision is unlikely to be impacted by what is happening to $

2 Days Ago

Lenders’ Take On RBI: Focus On Credit Growth Continues

Raising the FCNR (B) deposit rates, development of the Secured Overnight Rupee Rate (SORR) benchmark and revision in limit of collateralised agriculture loans are all positive for banks

3 Days Ago

MPC: Insights From Economists

First Cut Anticipated In February, But….; The growth forecast was revised down by 60bps

3 Days Ago

IIFL Home Finance To Raise Up To Rs5 Bn

Tranche I Issue Opens on December 6, 2024 and closes on December 19, 2024

Dec 05, 2024

Physical Stores Most Favored Business Model

Physical Stores preferred by 90% Indian Retailers across generations: Study

Dec 05, 2024

Muthoot Microfin Slashes Lending Rates For 3rd Time

Easing Access to Affordable Credit, 25 bps on group loans and 125 bps on third-party product loans

Dec 04, 2024

Happiest Minds Among Top 100 Best Workplaces For IT & IT-BPM 2024

Great Place To Work® India honors organizations that exemplify exceptional leadership and prioritize employee well-being.

Dec 04, 2024

PNB Marks International Day oOf Persons With Disabilities

The bank felicitated three specially-abled employees for their remarkable achievements: Shri Sandeep Negi for winning the Gold medal in Para Taekwondo at the National Championship 2024, Shri Parveen Sharma for representing India in the Visually Impaired Indian Team that won the T-20 World Cup in 2022, and Kumari Pooja Gupta for securing the bronze medal in the World Boccia Challenger Series 2024 in Bahrain.

Dec 04, 2024

Mahindra Finance & Magma HDI GI Join Hands

Partnership is to expand financial access for emerging India

Dec 04, 2024

Lok Sabha Passes Banking Laws (Amendment) Bill 2024

The bill allows bank account holders to nominate up to 4 nominees in their accounts; FM Nirmala Sitharaman: Total branches of the Scheduled Commercial Banks have increased by 3,792 in the last year to reach 1,65,501 in September, 2024

Dec 04, 2024

“Urgently Bring Down Number Of Inoperative/ Frozen Accounts”

Make the process of activation of such accounts smoother and hassle free, including by enabling seamless updation of KYC through mobile/internet banking, non-home branches, Video Customer Identification Process, etc.

Dec 03, 2024

SBI Honors 29 Paralympic Champions

Assistive Devices distributed, in coordination with ALIMCO, to approximately 9000 Divyangjan at 20 locations across India

Dec 03, 2024

RBI Projections May Change For Inflation, GDP: Madan

Given the rather uncertain global environment and the possible impact on inflation and the fact that currently inflation has been averaging close to 5.9% in the last two months, a status quo on repo rate will be the logical outcome from the policy.

Dec 03, 2024

Bank Of India Consumption Fund Unveiled

Bank of India Mutual Fund announces New Fund Offer; The fund is suitable for investors looking for long-term growth and seeks to generate returns by seizing the expansion potential of India's consumer-driven economy.

Dec 03, 2024

RBI Cancels Registration Of Zavron Finance

As such, the above company shall not, hereinafter, transact the business of a Non-Banking Financial Institution (NBFI), as defined in clause (a) of Section 45-I of the RBI Act, 1934

Dec 03, 2024

HP Singh Awarded Honorary Doctorate Degree

The Honor Celebrates CMD of Satin Creditcare Singh’s Role in Driving Sustainable Development, Inclusion and Financial Empowerment in the Field of Microfinance

Dec 02, 2024

Muthoot FinCorp ONE's Loans Basis Digi Footprint

This latest digital lending solution from Muthoot FinCorp Ltd. empowers small business owners through seamless credit offering on QR-code based transactions.

Dec 02, 2024

SBI Customer To ReActivate Inoperative A/C

SBI launches a nation-wide drive encouraging customers to re-activate their inoperative accounts

Nov 30, 2024

Bank Credit Growth Not Encouraging

Housing loans recorded accelerated growth (y-o-y)

Nov 30, 2024

India Economic Outlook 2025-26: Peak Goldilocks?

Even though we believe India is among those less at risk from tariffs relative to Asia's more open economies, it is not immune.

Nov 30, 2024

Bank of Baroda Raises Rs3,500 Cr

The issue received a strong response from investors with a total of 120 bids received for Rs9,500 crore

Nov 28, 2024

AU SFB Partners With Bharti AXA

They enter into a strategic bancassurance partnership

Nov 28, 2024

DBS’ New Bengaluru Branch Is Designed For HNIs, NRIs

DBS high net worth customers can now avail premium banking in all of DBS’s six key markets in Asia; being a DBS Treasures customer in one market gives them the same DBS Treasures privileges in all DBS markets

Nov 28, 2024

UP, Maha, Bihar Have Most Number Of IPPB A/Cs

India Post Payments Bank has 650 branches and over 1.63 lakh access points through the post office network. The bank has opened 6,80,794 accounts in Sambhaji Nagar (Aurangabad) district in Maharashtra

Nov 28, 2024

PNB Boosts NRI Services

PNB Launched 24*7 NRI Customer Service Centre & New Offerings

Nov 27, 2024

HDFC Bank's Pragati A/C

The Pragati account is meant for Semi-Urban and Rural India and it aims to build a comprehensive banking ecosystem for India’s agricultural sector, including farmers (both traditional and those in cattle breeding, fisheries, poultry, and dairy farming), self-employed individuals, rural residents, self-help groups, and cooperatives

Nov 27, 2024

Bank Credit Growth Moderated To 12% Y/Y From 15%

The share of female borrowers’ loans to individuals has been rising gradually and it stood at 23.6 per cent in September 2024

Nov 26, 2024

66% Of Incremental Deposits Contributed By Metro Branches

Of the total deposits, 51.4 per cent was held by individuals; female depositors owned nearly 40 per cent of the deposits by individuals.

Nov 26, 2024

4 Coop Banks Fined: Penalty Rs7.5 Lakh

These actions on 4 coop banks are based on deficiencies in regulatory compliance

Nov 26, 2024

SBI-Muthoot Microfin Start Disbursing Loans

SBI has sanctioned a limit of Rs500 crore under the co-lending model, to be disbursed in tranches of Rs100 crore. Identified and eligible customers can avail of loans ranging from Rs50,000 to Rs3 lakhs

Nov 23, 2024

Penalty Of Rs61 Lakh Imposed On RBL Bank

The action is based on deficiencies in statutory and regulatory compliance

Nov 22, 2024

SBI Enables Uber Fleet Partners By Loans

The collaboration is aimed at contributing to the ongoing growth of India’s ride-hailing industry.

Nov 22, 2024

4 Coop Banks From Gujarat, 1 From Odisha Fined; Penalty Rs8.35 Lakh

These actions on 5 coop banks are based on deficiencies in regulatory compliance

Nov 21, 2024

IndusInd Bank & UNICEF Will Strengthen Climate Risk Management

Key initiatives will include the development of real-time monitoring systems, early warning mechanisms, and advisory services to mitigate climate risks such as droughts, floods and heatwaves

Nov 21, 2024

Grandmaster Gukesh Onboards RBL Bank As Its Brand Ambassador

18-year-old D Gukesh will challenge the reigning world chess champion Ding Liren this week at the World Chess Championship in Singapore

Nov 21, 2024

HVDC Transmission Project SPV Handed Over To PGCI

The scheme covers establishment of 2 Nos. HVDC terminal stations of 6000 MW at KPS2 and Nagpur, + 800 kV HVDC Bipole line (Hexa Lapwing) from KPS2 to Nagpur (1200 km), 6x1500 MVA, 765/400 kV ICTs at Nagpur S/s along with associated works.

Nov 20, 2024

SBI Concludes Successful Pricing Of $500 Mn Reg S Bond

The bond is benchmarked against the 5yr US Treasury and priced at a spread of 82 bps over the benchmark. The bonds will be listed on SGX-ST and India INX.

Nov 19, 2024

SBI Concludes Successful Pricing Of $500 Mn Reg S Bond

The bond is benchmarked against the 5yr US Treasury and priced at a spread of 82 bps over the benchmark. The bonds will be listed on SGX-ST and India INX.

Nov 19, 2024

Supersession Of BoD Of Abhyudaya Bank Extended

The Reserve Bank of India is satisfied that in the public interest, it is necessary to further extend the period of supersession beyond the close of business on November 23, 2024

Nov 18, 2024

SBI Raises Rs100 Bn Through 7th Infra Bond Issuance

The investors are across provident funds, pension funds, insurance companies, mutual funds etc.

Nov 18, 2024

SBI Raises Rs100 Bn Through 7th Infra Bond Issuance

The investors are across provident funds, pension funds, insurance companies, mutual funds etc.

Nov 18, 2024

SBI’s Yatra For Rural Youth Entrepreneurs

The country’s largest bank empowers entrepreneurs through Jagriti Yatra 2024 to Drive India’s Vision of a ‘Viksit Bharat’

Nov 17, 2024

Sammaan Capital's Strong Operating Performance

Subsidiary Sammaan Finserve reoriented as Affordable Housing Financier

Nov 16, 2024

Union Bank of India Is 2nd In EASE 7.0 Reforms Index

The performance of PSBs is measured on five themes under EASE 7.0, in which, Union Bank of India emerged on top under the theme ‘Banking towards Viksit Bharat'

Nov 16, 2024

REC Gets Adam Smith Awards ASIA 2024

The Adam Smith Awards ASIA 2024 is for Best Funding Solution

Nov 15, 2024

“UCBs Must Evolve Digitally, Addressing IT & Cybersecurity Gaps”

Swaminathan J: Room For UCBs’ Growth In Biz, Asset Quality, Liquidity

Nov 15, 2024

Muthoot Finance's Highest Ever H1 PAT At Rs23 Bn

Standalone Loan Assets Under Management (AUM) crosses landmark of Rs. 90,000 crores

Nov 14, 2024

Karnataka Bank Empowers Students

Karnataka Bank launches two student-centered products – the KBL Peak Education Loan and the KBL Genius Savings Account

Nov 13, 2024

CPI Inflation Touch 14 Month High

Rate Cut Chances are Now Fading For Rest of FY25

Nov 12, 2024

UBS India Summit 2024: Financial Leaders To Explore India's Growth Potential

The UBS India Summit, a cornerstone industrial conference in India for over 20 years, is taking place this year for the first time following the integration of UBS and Credit Suisse.

Nov 12, 2024

BoI’s Digital Transactions Share Improved To 95%

Bank of India has reported an increase in Net Profit by 63% YoY to Rs.2,374 Cr

Nov 12, 2024

Penalty Of Rs59 Lakh On South Indian Bank

The action is based on deficiencies in statutory

Nov 08, 2024

61% Of SBI’s SB A/Cs Gained Digitally Through YONO

SBI’s Q2 Net Profit 28% at Rs183.31 Bn; India’s largest lender’s Gross NPA ratio stands at 2.13%

Nov 08, 2024

Vidyalaxmi Scheme Will Foster Educational Equity: Setty

SBI is well-positioned to play a pivotal role in shaping a brighter, more inclusive future for India's youth

Nov 07, 2024

DBT Schemes For Women In 8 States Crosses Rs 2.11 Tn

Dr. Soumya Kanti Ghosh argues: “We must refrain from policy mistakes promising undesirable short term fiscal bonanza like loan waivers, unscientific and universal crop price guarantees should be avoided. Farm loan waivers have been a self-inflicted Harakiri, distorting the credit culture of borrowers and not even marginally serving the purpose in the medium to long term...similarly, only MSP driven agricultural growth is more fiscally extravagant and results in extreme ground water depletion;

Nov 06, 2024

Muthoot Microfin AUM Up By 15% At Rs12518 Cr

Profit After Tax (PAT) de-grew by 43.8% YoY from Rs109 crore to Rs62 crore

Nov 06, 2024

IDFC FIRST Bank Leads In Tracking Money Sent Abroad Via Swift GPI

With customers expecting end to end tracking of their food delivery or even a parcel, IDFC FIRST Bank has pioneered in providing the same for a critical service like cross-border payments

Nov 05, 2024

94% Of Magnet FD CC Users Improved Credit Score In 3 Months

One out of every third Magnet users is below the age of 25

Nov 05, 2024

5 Coop Banks Penalized: Fine Rs4.70 Lac

These actions on 5 coop banks are based on deficiencies in regulatory compliance

Nov 04, 2024

Trump V/S Harris – The Fiscal Impact

A Trump victory is likely to create a more stringent tariff policy, especially for China; US elections: Policy and economics will determine global currency outlooks; Trump Presidency to be a bigger drag on fiscal than Harris’; Global risk aversions could continue to pose headwinds for FPI flows into India after a USD 11 bn outflow in October

Nov 02, 2024

Success Stories, Strategies For Achieving Climate Adaptation & Resilience

The report finds that economic growth and building resilience to climate change go hand-in-hand, estimating that a 10% increase in GDP per capita will reduce the number of people who are most vulnerable by about 100 million; 1.2 Billion People at High Risk from Climate Change Worldwide

Nov 02, 2024

Debasish Mishra Appointed As CGM, Delhi Circle, SBI

Mr. Mishra's contributions include pioneering initiatives like the establishment of Start-Up branches at IIIT Hyderabad and IIT Madras, and leading 3,245 business solutions at the Bank level

Nov 02, 2024

Personal Loans Growth Moderates To 16.4%

Credit growth to industry improved to 9.1 per cent (y-o-y) in September 2024 compared with 6.0 per cent a year ago

Oct 31, 2024

ED Returned Properties Of Rs185 Cr To SBI-Led Consortium Of Banks

During the course of investigation, it was revealed that the accused company Surya Pharmaceuticals and its Directors/Promotors Rajiv Goyal and Alka Goyal had caused wrongful loss worth Rs.828.50 Crore to the Consortium of banks led by the State Bank of India (SBI) and obtained illegitimate gain to themselves by way of criminal activities

Oct 30, 2024

KMB Unveils Presale For Maroon 5’s Concert

Get Ready to Rock for Maroon 5’s Historic Debut Concert in India

Oct 30, 2024

IndusInd Bank Partners Trustmore

The partnership is to offer enhanced digital Escrow Services in India

Oct 30, 2024

JioFinance App Offers SmartGold

Customers can now buy digital gold anytime, anywhere, by investing as little as Rs.10.

Oct 29, 2024

IndusInd Bank Partners Tata Power Renewable Energy

The Partnership is to empower MSEs with Solar Energy Financing solutions

Oct 29, 2024

PNB's Gross Global Business Surpasses Rs25 Tn

Its Return on Assets (RoA) for Quarter crossed 1% Mark

Oct 28, 2024

Federal Bank Posts Record Profit Of Rs1057 Cr

The lender has surpassed 1000 Cr Milestone for Second Straight Quarter.

Oct 28, 2024

Northern Arc Capital's Q2 PAT Grows 24%

Gross NPA ratio was 0.60% on September 30, 2024

Oct 28, 2024

IIFL Home Finance Presents 'Bharose Ki Keemat'

The 'Bharosa Meter' visually reflects the ups and downs of trust, making an abstract concept more tangible and relatable

Oct 28, 2024

IIFL Home Finance Presents 'Bharose Ki Keemat'

The 'Bharosa Meter' visually reflects the ups and downs of trust, making an abstract concept more tangible and relatable

Oct 28, 2024

Mahindra Finance To Launch Credit Cards With RBL Bank

Through this co-brand partnership Mahindra Finance aims to tap into the growth potential, aligning with the adoption of e-commerce and technological advancements seen even in non-metro locations.

Oct 28, 2024

5 States Collecting >70% Direct Taxes: Women Tax Filers 15%

female tax filers are around 15% of the individual tax filers; The quantum of ‘crorepati’ taxpayers rose 5x to 2.2 lakh in AY24 (against 0.4 lakh in AY14); How Tax Simplification has given a necessary fillip to ITR Filing

Oct 28, 2024

Search Conducted In Fraud: Loss Of Rs220 Cr To Banks

ED initiated investigation for committing fraud against banks by using bogus documents. SBML has caused loss to the banks approximately of Rs220 Crore

Oct 27, 2024

SBI Named ‘Best Bank In India' For 2024

31st Annual Best Bank Awards ceremony of Global Finance Magazine was held during World Bank and International Monetary Fund meetings in Washington DC

Oct 27, 2024

IDFC FIRST Bank's Core Operating Profit Up 28%

IDFC FIRST Bank has recorded Q2 FY25 PAT at Rs201 crore

Oct 26, 2024

YES Bank's Net Profit Up 145% At Rs553 Cr

NPA Provision Coverage Ratio (PCR) at 70.0% v/s. 56.4% in Q2FY24 and 67.6% in Q1FY25

Oct 26, 2024

REC Declares 2nd Interim Dividend Of Rs4 Per Share

REC records the highest ever half yearly profit of Rs7,448 crore

Oct 26, 2024

Branches of Indian Banks In UK Generated Highest Fee Income

Indian banks increased their overseas presence during 2023-24 both in terms of balance sheet size as well as in terms of number of branches and employees

Oct 25, 2024

India Shelter Finance Achieves 36% YoY AUM Growth

The HFC's PAT Surges 50% to Rs. 90 Cr

Oct 25, 2024

Bandhan Bank’s GNPA At 4.7% In Q2 FY25

The lender's Q2 FY25 PAT up 30% YoY, at Rs 937 crore

Oct 25, 2024

Suryoday SFB’s PAT Down 9.8% At Rs45 Cr

Gross Advances Portfolio of Rs9,360 Cr, up 35.2% YoY

Oct 25, 2024

DCB Bank’s PAT Grows 23% At Rs155 Cr

The Gross NPA as on September 30, 2024 was at 3.29%

Oct 25, 2024

PNB Housing Finance’s Net profit Up by 22.6% To Rs469.7 Cr

The disbursement during Q2 FY25 grew by 27.8% YoY and 21.5% QoQ to INR 5,341 crore

Oct 25, 2024

SBI Raised Rs50 Bn

The country’s largest lender raised Rs. 5,000 crores through its first Basel III compliant Additional Tier 1 bond issuance today for the current financial year at a coupon rate of 7.98%

Oct 24, 2024

Karnataka Bank’s H1 Net Profit Up By 5% To Rs736 Cr

The aggregate business of the Bank stood at Rs. 1,75,284.08 crores (on a gross basis) for Q2FY25 compared to Rs. 1,56,467.71 crores in Q2FY24 registering a Y-o-Y growth of 12.03%

Oct 23, 2024

HDFC Group Declares Wining Tech Innovators

A Group level initiative for engagement with the start–up ecosystem

Oct 23, 2024

Equitas SFB Launches Selfe Loans App

This festive season, Equitas SFB's App is launched to boost growth for small businesses

Oct 23, 2024

UGRO Capital’s PAT Scaled Up 22% To Rs66 Cr

The DataTech NBFC advances towards becoming India’s largest small business financing institution

Oct 22, 2024

Mahindra Finance's PAT Grows 57% To Rs369 cr

Stable Market Share in Passenger Vehicles and Tractors

Oct 22, 2024

Streamlining Lending Set To Curb Gold Loan Growth

Lenders will have to revisit policies and processes to ensure compliance

Oct 22, 2024

Jana SFB’s PAT Grew By 25% At Rs267 Cr

Capital Adequacy at 18.8% with Tier-1 CRAR of 17.8%. Strong liquidity with LCR of 261%

Oct 21, 2024

Mega Corporation Launches Lendingo

It is a New Division to drive Electric Vehicle Financing

Oct 21, 2024

Mega Corporation Launches Lendingo

It is a New Division to drive Electric Vehicle Financing

Oct 21, 2024

BofA Extends Guaranteed FX Rates Up To 1-Year

Extension Follows Growth In Cross-Border Payments

Oct 21, 2024

Punjab & Sind Bank’s Q2 Net Profit Up By 27% To Rs2.40 Bn

Net Interest Income (NII) grew by 29.33% YoY to Rs873 crore, versus Rs675 crore in the previous year

Oct 20, 2024

HDFC Bank's Consolidated PAT Up At Rs343 Bn

The Bank’s consolidated net revenue grew by 14.7% to ? 760.4 billion for the quarter ended September 30, 2024 from ? 663.2 billion for the quarter ended September 30, 2023.

Oct 19, 2024

RBL Bank's Net Profit Grew 2% YoY To Rs594 Cr

Operating Expenses grew 13% YoY to Rs1,632 crore; Cost to Income ratio improved to 64.2% vs 66.5% for Q2 FY24

Oct 19, 2024

Kotak Mahindra Bank's Consolidated PAT For Q2 Up 13% To Rs50.44 Bn

At the consolidated level, Return on Assets (ROA) for Q2FY25 (annualized) was 2.53% (2.68% for Q2FY24). Return on Equity (ROE) for Q2FY25 (annualized) was 13.88% (14.99% for Q2FY24).

Oct 19, 2024

IndoStar Capital Finance's Consolidated PAT Grows 28%

The company's AUM at Rs10,112 crore, is up 6% Q/Q from Rs9,565 crore in Q1 FY25

Oct 18, 2024

KMB to Acquire Standard Chartered Bank, India’s Personal Loan Book

As of September 30, 2024, Proposed Transaction comprises a total loan outstanding of around Rs4,100 crore (equivalent to $490 million).

Oct 18, 2024

Action Against Asirvad MFC, Arohan Financial, Navi Finserv

RBI issued Directions to the following NBFCs to cease and desist from sanction and disbursal of loans

Oct 18, 2024

Big Shift In Borrowing Patterns Among Lower-Middle-Class Consumers

'How India Borrows 2024 Study' by Home Credit India Shows Aspirational-led Borrowing Trends, Growing Digital Adoption, Increased Reliance on EMI Cards and App-Based Banking

Oct 17, 2024

HDFC Bank Inaugurated Its 1st Branch in Singapore

HDFC Bank has been granted a wholesale banking license by the Monetary Authority of Singapore (MAS) effective 15th October 2024.

Oct 16, 2024

TVS Credit’s PAT Grows 19% Y/y In H1 FY25

With the addition of over 20 Lakh new customers in H1, the Company has served over 1.6 Crore customers till date

Oct 16, 2024

TVS Credit’s PAT Grows 19% Y/y In H1 FY25

With the addition of over 20 Lakh new customers in H1, the Company has served over 1.6 Crore customers till date

Oct 16, 2024

Aditya Birla Housing Finance Partners With BharatPe

To Revolutionize Secured Lending, ABHFL Launches Home Loans and Loans Against Property for BharatPe’s merchant partners

Oct 15, 2024

SVC Bank Recognized As 3rd Best UCB In Deposits

SVC Co-operative Bank received the recognition as the third best bank by The Maharashtra Urban Co-operative Banks' Federation Ltd. for the year 2023-24 in the prestigious category of 'Banks with Deposits Over Rs 5,000 Crore.'

Oct 12, 2024

Properties Of Rs3.40 Cr Attached In J & K Grameen Bank Fraud Case

ED initiated investigation on the basis of 4 FIRs registered by the CBI, ACB, Srinagar wherein Ishtiyaq Ahmad Parray, the then Branch Manager, JKGB & 10 Others were charge-sheeted for embezzlement of Rs. 6.30 Crore by sanctioning of KCC/JLG/Vehicle loans etc. fraudulently to the non-existent borrowers

Oct 11, 2024

IIFL Finance Appoints Preeti Kannan As CHRO

Preeti is passionate about effectively aligning people strategy with business objectives and in enabling individuals to unleash their inherent potential with extensive use of technology. She is a certified Coach and psychotherapist.

Oct 10, 2024

UGRO Capital's Public Issue Of Secured NCDs Opens

EFFECTIVE ANNUALIZED YIELD UP TO 10.91% PER ANNUM

Oct 10, 2024

How Lenders View RBI's Measures

The RBI’s emphasis on customer protection and compliance aligns well with leading lenders’ commitment to responsible credit lending practices

Oct 09, 2024

Making UCBs Integral Part Of Financial Ecosystem: Prabhat

Discussion Paper on Capital Raising Avenues for Primary (Urban) Co-operative Banks will be issued

Oct 09, 2024

Usha Financial Services Lends Rs50 Cr To EV Owners

NBFC expands its reach for Green Financing across India, empowering underserved communities with sustainable financing solutions

Oct 08, 2024

ADB-IIFL HFC Raises For Women Affordable Housing

The handbook serves as a knowledge product, offering actionable insights and strategies for stakeholders across the housing and finance sectors, promoting gender inclusivity and sustainable housing.

Oct 07, 2024

Sachin Now BoB’s Global Brand Ambassador

Bank of Baroda Introduces the ‘bob Masterstroke Savings Account’ a premium bank account offering a plethora of services

Oct 07, 2024

Housing Finance Expected To Grow At +15% CAGR Till 2030

Indian Banks increasingly adopting Gen-AI/AI tools to boost productivity, reduce cost

Oct 07, 2024

First Rate Cut By RBI Likely In Dec 2024 / Feb 2025

A level playing tax regime for bank deposits in accordance with other asset classes is now a must

Oct 06, 2024

IDFC FIRST Bank Goes Live On GST Portal

Authorised for GST payment by Government of India

Oct 05, 2024

SBI’s MDs, Executives, Staffers Donated Blood

State Bank of India organized a blood donation camp in association with Tata Memorial Hospital at its corporate centre in Mumbai. A total of 220 staff members donated blood

Oct 05, 2024

REC Disburses Rs909.55 Bn Loans In H1 FY25

Green loans up by 92.68% to Rs11,297 crore

Oct 05, 2024

Gross Advances of Equitas SFB Up 15% Y/Y

Equitas Small Finance Bank's Total Deposit as of 30th September 2024 at Rs39,859 Crs, up 29.3% YOY and 6.2% QOQ

Oct 05, 2024

Canara Bank Launches Online GST Payments Through Cards, UPI

This facility has been enabled in addition to the existing GST payment facilities through net banking and bank branches.

Oct 05, 2024

Group Entity Shall Not Be Used To Circumvent Regulations Applicable To Parent Bank

Banks shall require prior approval of the Department of Regulation, Reserve Bank of India to undertake any new activity through a group entity, other than those already permitted

Oct 04, 2024

ADC Bank @100 Has Profit Of Rs100 Cr, Biz > Rs170 Bn

Ahmedabad DCCB has solidified its reputation as the 'Tirth Sthan' (Place of Pilgrimage) for all cooperative banks: Union Minister for Home Affairs and Cooperation Amit Shah

Oct 04, 2024

BoI Opens Salary A/C Facilities For CIL Employees

BOI’s digital Initiative and BOI Mobile Omni Neo app shall also help the Coal India personnel at remote areas to stay connected and get easy access to bouquet of Financial Solutions.

Oct 04, 2024

Piramal Finance Raises $150 Mn From International Mkts

A total of 40 investors participated in the final issuance, with 92% of the funds raised from Asia and 8% from EMEA

Oct 04, 2024

Suryoday SFB’s Q2 CASA Grows By 57% Y/Y

As of September 2024, the Inclusive Finance portfolio is ~ 56% of the Gross Advances, out of which over 95% is covered under the CGFMU Scheme

Oct 04, 2024

Arohan Records A Milestone Aadhaar-Enabled EKYC Driven Underwriting

The industry is facing a problem in establishing authentic customer identity and this eKYC facility will help Arohan in overcoming this problem

Oct 03, 2024

UBI Unveils India’s First All Women RSETI

Union Bank of India commemorates Mahatma Gandhi Jayanti with impactful initiatives

Oct 03, 2024

UGRO Capital Crosses Rs100 Bn Aum Milestone

UGRO Capital launches 10k celebration run and unveils the UGRO anthem

Oct 03, 2024

Rs4 Cr Properties Attached In Axis Bank Fraud Case

It is alleged in the FIR that unknown persons forging the documents and identities had opened bank accounts and used them to deposit demonetized bank notes which was subsequently transferred to their actual entities through multiple layering

Oct 03, 2024

Plans For Platform To Boost Transparency, Timely IBC Outcomes Stressed

Amitabh Kant lauds IBC for helping India jump 79 positions from 142 in 2014 to 63 in 2016 in World bank's Ease of doing business Index

Oct 03, 2024

IIFL HFC Allies ITC Agro To Give Farmers Home Loans

Under the strategic tie up IIFL HFL will leverage ITCMAARS (Meta Market for Advanced Agricultural Rural Services) to address the financial requirements

Oct 03, 2024

NBFC Industry Sanctions Grew By 12% For Q1 FY25

Growth was robust in Auto loans, home loans, personal loans, gold loans, property loans and unsecured business loans.

Oct 03, 2024

ICICI Bank’s Festive Bonanza Is Back

Customers of the Bank can avail of these offers and get discounts of up to Rs40,000, by using their credit/debit cards, internet banking, cardless EMI and consumer finance

Oct 01, 2024

InvestorAi's Bhargava To Join Bank Of Ireland As Chairman

InvestorAi is an AI-recommended equity investments solutions working with top 7 broking firms in India

Oct 01, 2024

Coop Bank Penalized, Fine Rs1.5 Lakh

This action is based on the deficiencies in regulatory compliance

Oct 01, 2024

Decline In Growth In Vehicle Loans, ‘Other Personal Loans’

Personal loans growth moderated to 16.9 per cent (y-o-y) in August 2024 as compared to 18.3 per cent a year ago

Oct 01, 2024

SBI Concludes ‘Fitness Fortnight 2024’

State Bank of India successfully concluded its ‘Fitness Fortnight 2024’ from September 16 to 30 that coincided with the World Heart Day on September 29, 2024.

Sep 30, 2024

BASIC Home Loan Raises $10.6 Mn In Series B Funding

BASIC plans to Use New Funding to Broaden Market Reach, Develop Its Lending Portfolio, and Strengthen Technological Expertise

Sep 30, 2024

Kinara Capital Wins Double Honors

Kinara Capital struck two wins with a Platinum Award in the ‘SME Financier of the Year – NBFI, MFI, Fintech Global’ category and a Silver Award in the ‘SME Financier of the Year – Asia’ category

Sep 30, 2024

As Loans From Banks Slow, Nimble NBFCs Tap Alternatives To Grow

Capital markets to remain attractive even as securitisation, FCB gaining traction

Sep 30, 2024

PNB Launches QIP To Strengthen Capital Base

PNB successfully raises Rs 5000 Crore Equity Capital via Qualified Institutions Placement

Sep 28, 2024

TMB Plans To Open 40 New Branches Across Regions

TMB plans to expand its footprint beyond Tamil Nadu, with a special focus on the MSME sector, retail growth and digital banking services.

Sep 28, 2024

BFSI Sector Perceived As Riskier Amid Macro Pressures, Cybersecurity Threats

The comprehensive report titled "India Risk Report 2024" provides a deep dive into the evolving landscape of risk culture within India Inc., offering valuable insights into how organizations can build resilience in an increasingly complex risk environment.

Sep 27, 2024

2 Coop Banks Penalized: Total Fine Rs63 Lakh

These actions on 2 coop banks are based on deficiencies in regulatory compliance

Sep 26, 2024

Bank of India Launches FD @ 8.10%

The bank launches Special 400 Days Fixed Deposit in Festive Season

Sep 26, 2024

Golden Age For Coop Banking To Thrive: Patel

Jyotindra Mehta, Chairman of the Gujarat Urban Cooperative Banks Federation, said that the upcoming century will mark the era of Urban Cooperative Banks, especially with 1,480 cooperative banks operating throughout India, including Gujarat; Daily, over Rs150 crore is disbursed to milk producers in Gujarat through DBT: Jagdish Vishwakarma

Sep 26, 2024

Next Bharat Ventures & Axis Bank Will Give Working Capital To MSEs

This collaboration will ensure a seamless journey for Impact Entrepreneurs across India to avail working capital funding without any collateral

Sep 26, 2024

Arz Kiya Hai: SBI Held National Kavi Sammelan

“Kisi Din Zindagani Mein, Karishma Kyun Nahi Hota; Main Har Din Jaag Toh Jaata Hoon, Zinda Kyun Nahi Hota”; Renowned poets Rajesh Reddy, Arun Jaimini, Chirag Jain, and Aman Akshar recited their poetry at the event

Sep 26, 2024

Equitas SFB’s ‘Beyond Banking’ Campaign

The bank celebrates 8 years of driving communities and creating impact

Sep 25, 2024

2 Private Persons Sentenced To 3 Years’ Jail In Bank Fraud

Imprisonment with total fine of Rs two lakh

Sep 25, 2024

BoI Raises Tier II Bonds Of Rs25 Bn

The lender has raised Basel III compliant bonds @ 7.49% p.a. through NSE Electronic Bidding Provider Platform

Sep 25, 2024

Mahindra Finance Partner With UGRO Capital

To provide business loans and Loan against Property (LAP) to MSMEs

Sep 25, 2024

Mahindra Finance Partners With UGRO Capital

To provide business loans and Loan against Property (LAP) to MSMEs

Sep 25, 2024

SIDBI Surpasses B/S Milestone Of Rs5 Tn

SIDBI Recorded highest-ever net profit of Rs4,026 crore, a 20% increase y/y

Sep 25, 2024

Precursor To Census 2024: The Fine Prints Of A Rapidly Changing Nation

The latest exercise, tracing its roots to 1872, is likely to begin soon providing a range of data mirroring changing perceptions and myriad expectations of a digital-heavy India that has undergone rapid changes in the last decade

Sep 24, 2024

Home Credit India Unveils New Festive Campaign

The new AV is LIVE across digital platforms including Home Credit India’s social channels such as Facebook, Instagram, X (Twitter) , YouTube & LinkedIn.

Sep 24, 2024

SBI Strengthens Sustainability, Community Welfare Efforts In Hyderabad

Mr. CS Setty’s visit to Hyderabad was also marked with the inauguration of vigilance workshop at Hyderabad’s State Bank Staff College as well as motivational address to branch managers of Hyderabad & Secunderabad zones I

Sep 24, 2024

Retail Credit Growth Moderated During Q1

TransUnion CIBIL, today, launched the latest edition of the TransUnion CIBIL Credit Market Indicator (CMI) report, containing data and insights for the quarter ending June 2024.

Sep 23, 2024

Share Of Consumer Credit Has Been Growing Steadily

Technological advancement and green energy will play a pivotal role. Higher economic activities will generate credit opportunities

Sep 22, 2024

Women Lead In 1 Out Of 5 MSMEs On UDYAM

Digitalisation is the way forward for the increase in size and scale of MSMEs

Sep 20, 2024

No Imminent Need For The RBI To Follow Fed

FOMC: A Bold First Step

Sep 20, 2024

Make Digital Mode Robust, Reliable, Safe: FM

By serving the underserved and empowering the MSME sector, we are contributing to a truly inclusive; Viksit Bharat; said Nidhu Saxena, MD & CEO, Bank of Maharashtra

Sep 20, 2024

"Rate Cut In Feb’25 Looks The Best Bet "

Can India Remain Competitively Attractive To FPIs?; The State Bank of India’s Economic Research Department has come out with a research report titled "US Fed slays the rates by 50 bps but adopts a cautious, non-linear outlook"

Sep 19, 2024

ICICI Bank In Collaboration With PFRDA Launches NPS Vatsalya

NPS Vatsalya is a pension account for minors

Sep 18, 2024

SBI Raised Rs75 Bn

The country’s largest lender raised Rs. 7,500 crores today at a coupon rate of 7.33% through its second Basel III compliant Tier 2 bond issuance for the current financial year.

Sep 18, 2024

YES BANK-Paisabazaar Launch Feature-Rich Cashback Credit Card

The PaisaSave Credit Card is designed to reward frequent shoppers by offering substantial cashback on everyday purchases, both online and offline, making it a must-have for the value-conscious customers

Sep 18, 2024

YES BANK-Paisabazaar Launch Feature-Rich Cashback Credit Card

The PaisaSave Credit Card is designed to reward frequent shoppers by offering substantial cashback on everyday purchases, both online and offline, making it a must-have for the value-conscious customers

Sep 18, 2024

INR Expected To Benefit From Renewed FPI Inflows, Weak Oil Prices

Rupee touched its record low level in last few days of the 1st fortnight of Sep’24 (83.98/$), at a time when US$ was showing some signs of strengthening

Sep 17, 2024

Piramal Finance Partners With Digital India’s CSCs

The partnership with Digital India's Common Service Centers to Enhance Credit Access for Bharat's Budget Customers

Sep 16, 2024

HDFC Bank To Lift Income Of 5 Lakh Farmers

The Bank's focus on rural development reflects its continued commitment to fostering sustainable growth and uplifting vulnerable communities

Sep 16, 2024

Moneyboxx Finance Raises Rs176 Cr Capital

The fund raise puts the company in a strong position to achieve its target of over INR 2,500 crore AUM by FY26, and the company plans to keep raising capital going forward

Sep 13, 2024

BoB Inaugurates Phygital Branch At Vile Parle

This is the Bank’s third Phygital branch launched in the country

Sep 13, 2024

SBI Sanctions Loan Of Rs100.50 Bn To DVC

This project has been identified by Ministry of Power as one of the projects for capacity addition by 2030

Sep 12, 2024

Reforms In Data Infrastructure A Must For Bottom-Up Policy Making

IT reduces the time-inconsistency problem of monetary policy; IT offers more flexibility, inflation targets are set as a medium-term goal; consequently, short-term deviations from the target may not harm credibility. IT also allows stabilizing output without sacrificing the inflation target

Sep 12, 2024

Industry Credit Expected To Grow Over 12%: IBA Survey

FICCI-IBA Bankers’ Survey (January - June 2024): NPA levels on a decline; Majority expect gross NPAs to be in the range of 2.5 - 3 per cent

Sep 11, 2024

FlexiLoans Secures Series C Funding Of Rs2.90 Bn

The round was led by prominent global investors Accion, Nuveen, Fundamentum, and existing investor Maj Invest

Sep 11, 2024

Blostem-Suryoday SFB Partner For Digital FDs

With an interest rate of up to 9.10%, SSFB offers one of the highest rates for term deposits amongst its peers

Sep 11, 2024

RBL Bank & DMI Finance Unveil Credit Card

This partnership aims to broaden credit card access to customers across metro and non-metro cities in India by combining RBL Bank’s deep expertise in credit card offering with DMI’s strong track record of driving digital financial inclusion at scale.

Sep 11, 2024

Bank Of India Celebrates 119 Years Of Legacy, Visionary Growth

The MD & CEO and EDs introduced nine new products designed to further enhance the bank’s customer-first approach and digital capabilities

Sep 10, 2024

4 Coop Banks Penalized: Total Fine Rs10.50 Lakh

These actions on 4 coop banks are based on deficiencies in regulatory compliance

Sep 09, 2024

Muthoot Microfin's Job Fair Creates Employment Opportunities

The MFI aims to create 1500+ job opportunities to boost employment and youth skilling

Sep 09, 2024

Bandhan Bank Goes Live With Collection Of GST

Bandhan Bank customers and others can pay their Goods and Services Tax in a fast, seamless and convenient manner through the Bank’s Retail Internet Banking, and Corporate Internet Banking platforms

Sep 09, 2024

SBI Unveils Its First Co-Lending CPC

A dedicated unit for co-lending business of NBFCs

Aug 29, 2024

CJI Inaugurates BoM Branch At Supreme Court of India

Bank of Maharashtra today has marked a significant milestone in its journey towards innovation and excellence by launching its state-of-the-art branch functional within the premises of Supreme Court of India

Aug 29, 2024

2 Coop Banks Penalized, Total Fine Rs3.50 Lakh

These actions on 2 coop banks are based on deficiencies in regulatory compliance

Aug 29, 2024

SFBs To Grow Advances 25-27% This Fiscal

Diversification, penetration supportive; alternate liabilities strategies to gain momentum

Aug 26, 2024

YES BANK Achieves 20.8% Y/Y Deposit Growth

Deposit Growth Amidst Regulatory Focus on Deposit Accretion

Aug 26, 2024

REC Signs MoU With JNPA For financing Rs450 Bn

The financing is for various upcoming projects of JNPA, which includes development of Vadhavan Port.

Aug 25, 2024

Banque de France Was Founded At Instigation Of Napoleon Bonaparte

The 1870 war and then the Paris Commune disrupted the life of the Banque de France, which nevertheless manages to safeguard its funds

Aug 25, 2024

Resolutions Of Yes Bank's BoD Backed By Shareholders

This outcome reflects the Bank's resilient performance, strategic foresight, and dedication to enhancing shareholder value.

Aug 24, 2024

Penalty On 5 Coop Banks: Total Fine Rs36.50 Lakh Only

These actions on 5 coop banks are based on deficiencies in regulatory compliance

Aug 23, 2024

Repco Bank Gives Dividend of Rs19.08 crore To Amit Shah

The cheque towards dividend @ 25% on the share capital of 76.32 crore held by Government of India

Aug 23, 2024

Piramal Finance-Central Bank of India Partner For Co-Lending

This partnership aims to serve customers in the unorganized sector, including self-employed or salaried individuals who are often unable to access formal credit due to insufficient income documentation.

Aug 23, 2024

Piramal Finance-CBI Partner For Co-Lending

This partnership aims to serve customers in the unorganized sector, including self-employed or salaried individuals who are often unable to access formal credit due to insufficient income documentation.

Aug 23, 2024

Muthoot Microfin Opens 1st Branch In Andhra Pradesh

With the new branch, Muthoot Microfin has expanded its network to 20 states serving over 3.4 million customers.

Aug 23, 2024

Bandhan Bank Celebrates Foundation Day With 2 New Launches

Avni - a savings account product exclusively designed for female customers

Aug 22, 2024

Efficient Capital Labs To Expand Cross-Border Revenue-Based Financing

Efficient Capital Labs Raises $11 Million in Series A Funding; QED Investors and 645 Ventures co-lead latest round

Aug 22, 2024

Elasticity Of Bank Deposits To MFs Has Gone Down 0.35 Post Covid

Some Bit Of Crowding Out Of Bank Deposits By MF Is Noticeable

Aug 20, 2024

BoB’s Employees To Get MediBuddy’s Health Services

The digital healthcare platform will offer health and wellness solutions to Bank of Baroda’s employees

Aug 20, 2024

SCBs’ Deposits Growth: This Time Its Different!

CASA deposits are prone to UPI transactions and thus could be moving across the banking system

Aug 19, 2024

World Bank Group’s High Level Council To Tackle Jobs Crisis In Global South

Over the next 10 years, an unprecedented 1.2 billion young people in the Global South will become working age adults

Aug 18, 2024

Another Weak Quarter For IT Companies: Continued Weakness In Discretionary Demand

Sales Growth For Non-BFSI Sector Is Much More Somber At 5.2% In Q1 FY25; Financial performance of corporates in Q1 FY25:

Aug 17, 2024

Tamilnad Mercantile Bank Appoints Salee Nair As MD & CEO

In a career span of more than 35 years, he has handled various assignments, mostly in the Corporate A/c Group, handling large Corporates.

Aug 17, 2024

Mahindra Finance Announces 2 Senior Leadership Appointments

Bijoy Thaplial appointed as the Chief Business Officer – Leasing, Partnerships, and Payments and Mod Narayan Singh appointed as Chief Compliance Officer (CCO)

Aug 16, 2024

Gold-Loan NBFCs Shine Despite Cash Disbursal Limit

Growth in disbursements maintained; low LTV to cushion gold price volatility

Aug 16, 2024

SBI, PNB Aiming For Amicable Resolution Of Issue With Govt Of Karnataka

Both the banks have issued a statement that as the matter is currently sub-judice, they are unable to provide any specific comments at this time

Aug 15, 2024

PNB Alerts Customers About Cyber Frauds Through APK Files

PNB strongly advises its customers to avoid clicking on APK files or links from unverified sources and to follow certain precautionary steps to safeguard against such cyber frauds

Aug 14, 2024

Muthoot Fincorp's Highest Ever Qtly Loan Disbursement

29.08% growth in consolidated loan disbursements with Assets under Management (AUM) at Rs39,256.92 crore

Aug 14, 2024

Kotak Presents PEPPA PIG’s Adventure Live Show

The show is scheduled to go snorting out on laughter and learning across seven cities in India - Mumbai, Delhi, Bengaluru, Hyderabad, Pune, Chennai and Ahmedabad from September 21, 2024

Aug 14, 2024

Manappuram Finance’s Q1 Net Profit Up 11.7% To Rs5.57 Bn

The NBFC declares Interim Dividend of Rs1 per Share

Aug 13, 2024

2 HFCs, 1 NBFC Penalized: Total Fine Rs13 Lakh

These actions on 2 leading HFCs and 1 leading NBFC are based on deficiencies in regulatory compliance

Aug 13, 2024

Bandhan Bank Offers FD With 8.50% Interest Rates For Senior Citizens

Bank introduces new bucket of 1 year 9 months

Aug 13, 2024

RBI Reviews Risk Weights for HFCs

The new instructions shall be applicable from the date of issue of the circular

Aug 12, 2024

DBS Bank's 'India-Singapore Connect' In 30th Year

Flagship campaign in association with CNBC-TV18 will celebrate and deepen bilateral relations between the two economies

Aug 12, 2024

Downside Risks To Growth Can Embrace Momentum

Though, transactions through cheque has been declined significantly and remained stagnant within Rs65-70 lakh crore during the last 3-years but Continuous Clearing of Cheques under Cheque Truncation System (CTS) will help customers in releasing their value quickly.

Aug 11, 2024

CBI Arrests Branch Manager Of Prathma U.P. Gramin Bank In Bribe Case

CBI laid a trap and caught said accused (public servant) and his associate (private person) red-handed while demanding and accepting bribe of Rs30,000 from the complainant

Aug 10, 2024

BFSI Leaders Reflect Upon RBI Measures

The new cheque clearing norms will ensure ‘on realisation settlement; Seems like we must remain patient regarding any potential changes in stance or rate cuts

Aug 10, 2024

Moneyboxx Finance Reports Growing Profitability

AUM of INR 746 crore in Q1 FY25 up 93% compared to INR 386 crore in Q1 FY24

Aug 09, 2024

2 Coop Banks Penalized

These actions on 2 coop banks are based on deficiencies in regulatory compliance

Aug 09, 2024

Perspectives Of NBFC Leaders on MPC

The proposed public repository for digital lending apps is a significant move towards enhancing oversight and protecting customer interest

Aug 08, 2024

Quotes Of Economists, Experts: 1st Cut In Q1CY25

Views Of Madan Sabnavis, Chief Economist, Bank of Baroda; Achala Jethmalani, Economist, RBL Bank; Siddhartha Sanyal, Chief Economist and Head of Research, Bandhan Bank; Anil Gupta, Senior Vice President Co Group Head - Financial Sector Ratings, ICRA; Debopam Chaudhuri, Chief Economist of the Piramal Group

Aug 08, 2024

Growing Calls Within MPC To Pivot To Monetary Easing

How does RBI fare vis-à-vis other global central banks?

Aug 08, 2024

Commercial Bank Of Ceylon Adopts Bloomberg Data License

Data License is to access reliable, high-quality reference data and to streamline their portfolio management

Aug 07, 2024

TVS Credit Registers 20% Growth In AUM

The NBFC has served over 1.5 Crore customers till date

Aug 07, 2024

DBS Foundation Invites Applications For Its Grant Award

2024 grant awardees to receive up to INR 1.5 CR (SGD 250,000) in funding; Applications open until August 30, 2024

Aug 07, 2024

RBI Modifies Interest Subvention Scheme For STLs For Agri

Government of India has approved the continuation of the Modified Interest Subvention Scheme (MISS) for the financial year 2024-25 with certain stipulations

Aug 06, 2024

Kotak Private Celebrates 20 Years

Its multimedia campaign celebrates commitment to innovation and bespoke services

Aug 06, 2024

PM Jan-Dhan Accounts Have Deposits Of Rs2,30,792 Cr

29.37 crore (55.6%) accounts belong to women and about 35.15 crore (66.6 %) accounts opened in rural and semi-urban areas under PMJDY

Aug 06, 2024

Personal Loans Growth Reduced To 16.6% In June 2024

Credit growth to services sector moderated substantially to 15.1 per cent (y-o-y) in June 2024 from 26.8 per cent a year ago, primarily driven down by lower credit growth in ‘non-banking financial companies (NBFCs)’ and ‘trade’ segments.

Aug 04, 2024

>100 Nations Face Hurdles Choking Efforts To Become High-Income Nations

World Bank’s New research offers a 21st century playbook for high-quality growth: “Middle-Income Trap” Hinders Progress in 108 Developing Countries

Aug 03, 2024

BoI’s UPI Users Increased To 19.5 Mn Y/y In Jun'24

Net Profit of BoI for the quarter improved by 10% YoY and stood at Rs1,703 Cr for Q1FY25

Aug 03, 2024

SBI’s Net Profit Grows By 0.89% Y/y At Rs170.35 Bn

Net NPA ratio of the lender at 0.57% improved by 14 bps YoY

Aug 03, 2024

TMB's Highest Ever Net Profit Surges To Rs2.87 Bn

Stressed Assets ratio has decreased to 2.55% from 3.21% Y-o-Y

Aug 03, 2024

Instructions On Bad & Doubtful Debt Reserve Of Coop Banks Revised

RBI issued fresh instructions with a view to bringing about uniformity in the treatment of BDDR for prudential purposes

Aug 03, 2024

Suryoday SFB’s Net Interest Income Grew By 30.5% Y/Y At Rs2.93 Bn

The lender’s Net total income stood at Rs363.4 crores in Q1FY25 an increase of 31.8% year on year; Gross Advances grew by 41.8% to Rs9,037 crores

Aug 02, 2024

Banking At 7.21% Growth, NBFCs Have 65% Expansion Intent

The FinTech sector is looking balanced according to the report. 57% of respondents plan to increase their workforce, 20% intend to decrease it, and 23% foresee no change

Aug 01, 2024

RBL Bank Integrates RuPay Credit Cards With UPI, NCMC

This integration makes RBL Bank the first private sector bank in India to offer such a comprehensive suite of payment capabilities in a single card.

Aug 01, 2024

Kotak-GOQii Smart Vital Plus Smartwatch Launched

Powered by RuPay On-The-Go, the smartwatch enables contactless payments up to INR 5000 without PIN

Aug 01, 2024

BoB’s Net Profit Grows 9.5% At Rs44.58 Bn

Return on Assets (ROA) of the lender remains consistently above 1% for 8 quarters and stands at 1.13% for Q1FY25.

Jul 31, 2024

Ugro Capital’s PAT Up 20% At Rs30 Cr

Ugro Capital’s AUM of INR 9,218 Cr, up 36% (YoY)

Jul 31, 2024

BoI Hikes Rates On Short Term & Medium Term FD

Bank has hiked its rate for Fixed Deposits amounting less than Rs3 Crore and now offering 6.00% for 180 days to less than 1 year

Jul 31, 2024

8,500 Women Earned Rs4 Cr By Collecting 5,000 Metric Tons of Limbodi

Loans worth Rs4,338 Crore Provided to Over 1 Lakh SHGs in Gujarat

Jul 30, 2024

Ugro Capital & SIDBI Will Co-Lend To Empower MSMES

A Collaboration to Enhance Credit Accessibility and Affordability for MSMEs Across India

Jul 29, 2024

PNB’s WhatsApp Banking Users Up By 133% To 34 Lakh

Punjab National Bank’s net profit increased Y-o-Y by 159% to Rs3,252 Crore In Q1FY25

Jul 27, 2024

Manoj Mittal Takes Charge As CMD Of SIDBI

Manoj Mittal has over 33 years of extensive experience in the Finance secto

Jul 27, 2024

NABARD Preparing Plan For Opening Of New DCCBs In Uncovered Districts

Draft report on New National Cooperation Policy, prepared by the National Level Committee, under the chairmanship of Shri Suresh Prabhakar Prabhu, has been received, the draft policy has been prepared and is under finalization

Jul 27, 2024

Punjab & Sind Bank's Net Profit Up By 18.95%

Gross NPA ratio improved by 208 bps and Net NPA ratio improved by 36 bps.

Jul 26, 2024

Bandhan Bank’s Q1 FY25 PAT Grows 47%

Robust improvement across major financial metrics

Jul 26, 2024

ICICI Lombard Partners Karnataka Bank For Bancassurance

The entire range of insurance products will now be accessible across Karnataka Bank's 915 branches, reaching over 13 million customers nationwide

Jul 26, 2024

PNB HFC’s Q1FY25 Net profit Up By 25% To Rs4.33 Bn

Disbursement grew by 19% YoY to INR 4,398 crore

Jul 25, 2024

Kotak Mahindra Bank Appoints SK Honnesh As Group General Counsel

With over 25 years of distinguished experience in Legal and Compliance, Honnesh brings valuable expertise to the role. As Group General Counsel, he will oversee Legal, Secretarial, and Compliance functions across the Kotak Group

Jul 25, 2024

Budget Offers Scope For Banks’ Balance Sheet Expansion: Khara

Dinesh Khara, Chairman, SBI, feels that the budget has chalked the best strategy for future

Jul 25, 2024

DCB Bank’s PAT Grows By 3%

Advances growth year-on-year was at 19% and Deposit growth year-on-year was at 20%

Jul 24, 2024

HSBC’s New Campaign With Priyanka Chopra Jonas

HSBC aims to foster a strong sense of belonging among Indian expats through joyful culinary experience

Jul 24, 2024

Federal Bank Records Highest Ever Qtrly Net Profit At Rs10.10 Bn

GNPA and NNPA brought down to 2.11% and 0.60 % respectively.

Jul 24, 2024

Budget Bolsters MSME Sector: Hardika

The government has already extended 43 crore loans amounting to around INR 22.5 lakh crores, and enhancement of the Mudra Yojana loan limit will empower many more MSMEs with the necessary financial support

Jul 24, 2024

Piramal Finance Raises $300 Mn Through International Bond Issuance

On the first trading day (July 23rd), the bond performed strongly in the secondary markets, with yields tightening by approximately 15 basis points to 9.80%

Jul 24, 2024

Govt's Focus On Developing Coop Sector Will Boost Rural Economy: Mehta

The government plans to establish good governance and networks in the cooperative sector to ensure transparency and accountability

Jul 24, 2024

RBI penalizes Co-operative Bank Of Satara, Fine Rs 5 Lakh

This action is based on deficiencies in regulatory compliance

Jul 23, 2024

Subsidies Likely To Be Revised Upward To Rs 4.4 Tn

FY25 Union Budget: Focusing on Viksit objective

Jul 21, 2024

BoB Starts GenAI-Powered Virtual RM, UPI App, mDigiNext App, Smart NFC Sticker

Bank of Baroda Marks its 117th Foundation Day, with outlining the Bank’s vision to be a world-class financial services institution, built on the foundation of the trust of its customers for well over a century

Jul 21, 2024

“Risk Weight In Gold Loans Be Treated At Par With Banks Or Home Loans”

The gold loan NBFCs look forward to receiving the priority sector status which is of paramount significance

Jul 21, 2024

KMB’s Q1FY25 PAT Up 79% Y/Y At Rs74.48 Bn

Standalone PAT for Q1FY25 Rs 6,250 crore, up 81% YoY

Jul 20, 2024

Poonawalla Fincorp’s AUM Up 52% Y/Y To Rs269.72 Bn

PPoP at Rs432 crore in Q1FY25, up 47% YoY and 6% QoQ

Jul 20, 2024

Muthoot Microfin Cut Interest Rates By 35 bps

The MFI has effectively reduced the lending rate from 23.65% to 23.30%

Jul 20, 2024

RBL Bank’s Q1 Net Profit Grew By 29% To Rs3.72 Bn

The lender is well capitalized for medium term growth, Total CRAR including Q1 FY25 profits was 15.56% and CET 1 of 13.85%

Jul 20, 2024

HDFC Bank Spent Rs 945.31 Cr On CSR Plans In ’23-24

HDFC Bank Parivartan impacts 10.19 crore lives, 9000+ villages through CSR initiatives

Jul 19, 2024

Tata And Mahindra Partner For Insurance Business

This collaboration aims to enhance the distribution of TATA AIG's non-life insurance products to Mahindra Finance's extensive customer network.

Jul 19, 2024

BoI Raises Rs50 Bn Through Long Term Infra Bonds

The leading public sector bank has raised Rs5,000 crore @ 7.54% p.a, through NSE Electronic Bidding Platform

Jul 18, 2024

“Aid Innovation Ecosystem, Funding For Tech Initiatives”

Budget must be focused on 8 key areas: Prashant Kumar, MD & CEO, YES BANK

Jul 17, 2024

“Gold Linked Credit Line Via UPI Can Monetize Jewellery”

Grant Eligible Gold Loan NBFCs With Priority Sector Status: George Alexander Muthoot

Jul 17, 2024

SBI Unveils “Amrit Vrishti” Term Deposit Scheme For 444 Days

The scheme offers an interest rate of 7.25% per annum (7.75% per annum for Senior Citizens)

Jul 16, 2024

Total Q1 Income Of Jio Financial Services Rose To Rs4.18 Bn

The company earned net profit of Rs3.13 Bn as against the net profit of Rs3.32 Bn in the same period last FY

Jul 16, 2024

bob Monsoon Dhamaka Deposit Scheme Launched

Bank of Baroda's Scheme is offering higher interest rates

Jul 15, 2024

HDFC Bank Parivartan Trained 3.25 Lakh Youth

Covering high-demand sectors like IT/ITeS, healthcare, manufacturing and agriculture, HDFC Bank Parivartan’s programmes offer market-linked skilling crucial to addressing India's skill gap

Jul 15, 2024

3 Coop Banks Penalized: Total Fine Rs5.98 Cr

These actions on the concerned 3 coop banks are based on deficiencies in regulatory compliance

Jul 13, 2024

Enhance Digital Infra In Banking, Fintech Sectors: Karthik

This budget should lay the groundwork for a more inclusive, resilient, and dynamic financial ecosystem for MSMEs

Jul 13, 2024

Caspian Debt Disbursed Rs5,019 Mn In Direct Lending

Caspian Debt firms up its commitment towards building an equitable ecosystem

Jul 11, 2024

SBI Gives Online Loan Against MFs Via INB, YONO

Loan against MF available for MF scheme of all the AMCs registered with CAMS

Jul 11, 2024

Piramal Finance Gets $100 Mn Loan For Social Projects

The loan has a maturity of three years and is benchmarked to a three-month SOFR (secured overnight financing rate).

Jul 11, 2024

REC Gets Green Loan From Deutsche Bank AG

This strategic investment reinforces REC's commitment to foster sustainable growth, in alignment with the Company's Green Finance Framework

Jul 10, 2024

RBI Cancels CoR Of Star Finserv India, Polytex India Due To Irregular Lending Practices

As such, both the companies shall not transact the business of a Non-Banking Financial Institution (NBFI), as defined in clause (a) of Section 45-I of the RBI Act, 1934

Jul 08, 2024

Bandhan Bank To Ease Global Biz Transactions

These products are designed to streamline and secure various aspects of global transactions, ensuring smoother operations and greater financial flexibility for businesses.

Jul 08, 2024

DVARA KGFS Raises $10 Mn From Triple Jump

DVARA KGFS FORAYS INTO ANDHRA PRADESH

Jul 08, 2024

Adhere To Fiscal Prudence, PLI For MSMEs Needed

Revisit to IBC a MUST to keep its competitive edge; Divestment needs a concrete roadmap for attracting capital & confidence of FIs

Jul 08, 2024

Rs7.85 Bn Deposits Raised In Pilot Projects In Banaskantha, Panchmahal

Over 23,000 Kisan Credit Cards and 3.8 lakh RuPay Debit Cards have been issued to farmers and milk-producing mothers at zero percent interest

Jul 06, 2024

Inclusive Effort Focused On Women Improves Conditions For Households, Communities: Jitendra

Mumbai hosted the second convening of Financing Women Collaborative (FWC), an initiative of Women Entrepreneurship Platform (WEP) on Friday to deliberate and address issues with relevant stakeholders towards accelerating access to finance for women entrepreneurs

Jul 06, 2024

Reducing Direct Tax Rates To 25% Can Lead To Better Compliance: Bajaj

‘Only 1.6% of India’s Population Pays Taxes: The Unsung Heroes of Our Economy’

Jul 05, 2024

RBI Cancels Licence Of Banaras Merchantile Co-operative Bank

The said coop bank from Varanasi does not have adequate capital and earning prospects

Jul 04, 2024

Suryoday SFB’s Disbursements In Q1 FY25 Grows By 46%

The SFB has witnessed growth in all performance parameters on YoY basis

Jul 04, 2024

Education, Consumer, Gold Loans' De-Growth

YOY growth overall is still low at 1.8%

Jul 03, 2024

Grihum HFC-Central Bank Of India Partner For MSME Secured Loans

Under this agreement, Grihum will generate leads, manage loan servicing, and act as the primary point of contact for customers.

Jul 02, 2024

Bajaj HFC Launches Sambhav Home Loans

Bajaj Housing Finance enters the Affordable Housing and Informal Income Segment to address the housing finance needs of unserved and underserved customer segments

Jul 02, 2024

Axis Bank & Piramal Finance Will Do Co-Lending Biz

The collaboration between two lenders aims to cater to customers in the unorganized sector, including self-employed or salaried borrowers who have limited access to credit due to the lack of sufficient income proofs

Jul 02, 2024

4 Coop Banks Penalized, Total Fine Rs12 Lakh

These actions on 4 coop banks are based on deficiencies in regulatory compliance

Jul 01, 2024

DBS Bank's Pre-Shipment Solution On TReDS

DBS’s pioneering solution with RXIL will provide data-driven, pre-to-post shipment financing, easing working capital cycles for suppliers across India.

Jul 01, 2024

Kheda DCCB Starts Tablet Banking, Loan Management, Document Management System

Under the new initiative of “Cooperation Amongst Cooperatives”, Govt. of India has taken Banaskantha and Panchmahal districts as a pilot project

Jul 01, 2024

Assets Of Rs29 Cr Attached In Karuvannur Service Coop Bank Case

The total proceeds of crime attached so far in this case by ED is Rs117.78 Crore

Jun 30, 2024

More $1.5 Bn Approved For India’s Low-Carbon Shift

The operation is helping in scaling up investments in green hydrogen and in renewable energy infrastructure. This will contribute towards India’s journey for achieving its Nationally Determined Contributions targets

Jun 29, 2024

Enabling Woman’s Journey From Kitchen To Kingdom

The SFB supports Sarla Jain to create opportunities through entrepreneurial dreams

Jun 29, 2024

Personal Loans Growth Moderated To 17.8% In May

Sectoral Deployment of Bank Credit – May 2024

Jun 29, 2024

Penalty Of Rs29.60 Lakh Imposed On Hongkong And Shanghai Banking Corporation

The action is taken for non-compliance with certain directions issued by RBI on ‘Credit Card, Debit Card and Rupee Denominated Co-branded Pre-paid Card operations of Banks’

Jun 28, 2024

Bank of India Receives Top Honors at PFRDA

Bank of India (BOI) has been honoured with multiple prestigious awards, recognizing its outstanding performance in various aspects of banking and financial inclusion

Jun 28, 2024

Stress Tests: SCBs Would Be Able To Comply With Minimum Capital Requirements

The global economy is facing heightened risks from prolonged geopolitical tensions, elevated public debt, and the slow progress in the last mile of disinflation

Jun 28, 2024

MSMEAcchaHai For India And The World

UGRO Capital has created a video on the occasion of WorldMSMEDay

Jun 27, 2024

One More Feather Added In Atul Khirwadkar's Cap

Mr Khirwadkar gets recognition certificate from FIAKS

Jun 27, 2024

'60% Of 25000 Tonnes Of Gold Remains Outside Formal Financial System'

Muthoot Finance disburses loans via IMPS or UPI, apart from RTGS/NEFT networks, which ensures that their credit history is also strengthened

Jun 27, 2024

SBI Raises Rs100 Bn Through 5th Infra Bond Issuance

Bank’s Senior Unsecured Long Term Bond Issuance At A Coupon Rate Of 7.36%

Jun 26, 2024

Sany India Partners With Union Bank Of India

This collaboration between SANY India and Union Bank of India is strategically designed to leverage the strengths of both entities, providing range of customized financial services tailored to meet the needs of the customers

Jun 25, 2024

2 Coop Entities Penalized, Total Fine Rs2.25 Lakh

These actions on 2 coop entities are based on deficiencies in regulatory compliance

Jun 24, 2024

PNB Celebrates 10th International Yoga Day

PNB Parivar Unites Across Zones to Embrace Mental and Physical Wellness Through Yoga Practice

Jun 21, 2024

Tech Adoption Can Improve Credit Delivery, Borrower Convenience For NBFCs.

High portfolio growth and rising share of non-traditional products leading to increased regulatory oversight

Jun 21, 2024

Around 6.5 Mn Jobs Have Been Formalized Till Mar’24

Bottom of the pyramid’s share in consumption stands at 43% now

Jun 21, 2024

Tennis Star Sumit Nagal Is Now BoB's Brand Endorser

A role model for today’s youth, Sumit will help the Bank connect with GenNext

Jun 20, 2024

NE SFB Offers Up To 9.75% Interest Rates On FD To Senior Citizens

NE SFB has increased interest rate on FD product from 9.25% to 9.75%

Jun 20, 2024

ANZ, DBS BANK & EDC Close Sustainability Loan For Tata Communications

The three lenders will jointly finance a five-year USD 250 million facility under Tata Communications' sustainability-linked loan framework.

Jun 20, 2024

RBI Cancels License Of City Co-operative Bank

The Mumbai based bank does not have adequate capital and earning prospects

Jun 19, 2024

Piramal Finance Crosses Rs500 Bn In Retail Loans

Piramal Finance Aims to Double Retail AUM by FY28

Jun 18, 2024

PSBs Are Better Efficient Than Private Banks

Despite many structural changes, PSBs are operating at 82.76% and in overall study period, pvt banks operating below 80% level; “Impact of Decadal Reforms on Efficiency and Productivity of Indian Banking Sector: A DEA Approach”

Jun 17, 2024

RBI Imposes Penalty Of Rs96.40 Lakh On Sonali Bank

The action is based on deficiencies in statutory and regulatory compliance

Jun 15, 2024

How have NRI deposits moved?

While aggregate deposits in the banking system grew by 10.2%, NRI deposits increased by 7.2%

Jun 14, 2024

Kotak Life Partners With Mahindra Finance

The partnership will benefit over 10 million customers of Mahindra Finance by offering a wide range of tailor-made life insurance solutions provided by Kotak Life.

Jun 13, 2024

Food Inflation: A Key Risk

On demand front, still the picture is hazy

Jun 12, 2024

Muthoot Microfin’s $25 Mn Greenshoe Option Oversubscribed

Muthoot Microfin Announces Closure of USD 113 Million ECB

Jun 12, 2024

Equitas SFB’s ‘Circle of Life’ Celebrates Resilience Of SMEs

Equitas honours Karuthan’s confidence and persistence to emerge as a successful entrepreneur

Jun 10, 2024

Das Indicates Clear Sign Of Decoupling Of RBI From US Fed

We factor in the first rate cut in October 2024: Dr. Soumya Kanti Ghosh

Jun 08, 2024

Amalgamation Of Yadagiri LNS UCB With Gayatri UCB Approved

RBI approves the voluntary amalgamation of 2 co-operative urban banks of Telangana

Jun 08, 2024

How Economists View RBI Policy?

The credit policy has quite expectedly maintained status quo on both repo rate and stance

Jun 07, 2024

Lenders’ Insights On RBI Measures

The moderation in unsecured lending growth highlights the sector's commitment to prudent financial practices

Jun 07, 2024

Bulk Deposit Limit Revised To Rs3 Cr And Above:

A few REs still charge fees, etc. that are not specified or disclosed in the Key Facts Statement (KFS)

Jun 07, 2024

Boards Of Banks Should Re-Strategise Business Plans

Gap between credit and deposit growth rates warrants a rethink by the banks

Jun 07, 2024

Adani Capital, Adani HFC Rebranded As Tyger Capital, Tyger HFC

New brands reflect the companies’ speed, reliability, and partnership-driven approach

Jun 07, 2024

Bajaj Housing Finance Board Approves IPO

The Board of Directors of the Company has approved an IPO of equity shares of Rs 10 each, which comprises of fresh issue of Equity Shares aggregating up to Rs 4,000 crore

Jun 06, 2024

Muthoot Microfin-SBI To Co-lend Women Entrepreneurs

The loan amounts will range from a minimum of Rs 10,000 to a maximum of Rs 3,00,000, providing a substantial boost to women entrepreneurs from rural regions

Jun 06, 2024

Yoma Bank Partners With Integro Technologies

Yoma Bank has piloted Integro’s SmartLender Commercial, a market-leading solution designed to optimize the SME lending process

Jun 06, 2024

Bank of India Signs MOU With PCDA (P)

Through this MoU, Bank of India’ s selected 433 branches will act as Service Centres to provide last mile connectivity to pensioners, especially those in remote areas/ without access to SPARSH/ no technical knowledge

Jun 06, 2024

RBI Needs To Innovate On Liquidity Management

Banking system will be impacted through the JIT mechanism; Buyback auction by RBI showed lackluster response

Jun 06, 2024

Tata Motors Finance Merged With Tata Capital

As consideration for the merger, TCL will issue its equity shares to the shareholders of TMFL resulting in TML effectively holding a 4.7% stake in the merged entity

Jun 04, 2024

PNB Signs MoU With IIFCL

The MoU is to provide long-term financial assistance to viable infrastructure projects

Jun 03, 2024

Muthoottu Mini Financiers' PBT Grew By 35%

The NBFC's revenue increased from INR 544 crore in FY23 to INR 672 crore in FY24, reflecting a strong growth of 23.4%.

Jun 03, 2024

Axis Bank And Bajaj Allianz GI Forges Alliance

The partnership is to boost Insurance Penetration and Financial Inclusion

Jun 03, 2024

Poonawalla Fincorp's GNPA Below 1%

The NBFC continued to register robust financial performance, demonstrating strong growth in AUM, profitability, and superior asset quality.

Jun 01, 2024

FY25 Could See Growth Topping 7.5%

India has grown at an average of 8.3% post-pandemic

Jun 01, 2024

India GDP: Continues Surge Story

FY25 real GDP growth expected at 7.1% YoY

May 31, 2024

SBM Bank (India) Fined Rs88 lakh

This RBI action on the bank is based on deficiencies in regulatory compliance

May 31, 2024

Clix Capital's AUM Crosses Rs58 Bn

The new-age NBFC announces 125% increase in FY’24 PAT

May 31, 2024

BoI Offers 666 Days FD

Senior Citizen will get 7.80% & others will get 7.30% returns

May 31, 2024

DBS Bank To Fund Maruti Suzuki's Dealers

This new alliance further enhances comprehensive inventory funding options for over 3863 Maruti Suzuki sales outlets across the country.

May 31, 2024

Muthoot Finance's PAT Up By 22% At Rs44.68 Bn

Highest Ever Consolidated Loan Assets Under Management at Rs. 89,079 crore, up by 25% YoY

May 30, 2024

ICICI Lombard-Capital SFB Bat Bancassurance

They forge Corporate Agency Alliance

May 30, 2024

Aadhar HFC's PAT Up By 33%

The company ended FY24 with AUM of INR 21,121Cr, a robust growth of 23% YoY

May 30, 2024

‘IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Card’ Launched

The card is designed to elevate the banking experience of customers

May 28, 2024

RBI Imposes Penalty Of Rs3.10 Lakh On Hero FinCorp

The company did not convey the terms and conditions of loans in writing to the borrowers in the vernacular language understood by them.

May 26, 2024

Unreasonable Impact Adds 12 Ventures On Climate, Social Issues To APAC Programme

The new 12 ventures have raised over $282 million in capital

May 26, 2024

Manappuram’s Net Profit Increases By 47% TO 22 Bn

it declares interim dividend of Rs.1 per share

May 24, 2024

Dvara KGFS Gets $10 Mn In Debt Financing

Debt Is To Bolster Financial Inclusion In Rural India

May 24, 2024

Government’s Effort Towards Fiscal Consolidation Will Be Boosted

RBI dividend at record high

May 24, 2024

Highest Ever Dividend Transfer Expected To Ease Fiscal Deficit By 30 To 40 Bps

Big Bang Dividend Reflects RBI Managing Volatility Deftly In An Uncertain World

May 22, 2024

2/3rd Consumers To Save, Invest More In '24-25

‘The Great Indian Wallet’ study by Home Credit India reveals surging confidence in financial well-being

May 22, 2024

Mahindra Finance To Improve Efficiency With Tech Innovation By Insurtechs

Mahindra Finance eyes expansion in Rural & Semi-Urban India for insurance products; receives corporate agency license from IRDAI

May 22, 2024

3 Coop Banks Penalized, Total Fine Rs11 Lakh

These actions on 3 coop banks are based on deficiencies in regulatory compliance

May 21, 2024

Bank of India Paris Branch Marks 50 Years Of Excellence

The event, held in Paris, was a grand affair, attended by eminent guests and loyal customers, symbolizing the deep bonds and trust the Paris Branch has cultivated over the years

May 21, 2024

Women Centric Schemes Clearly Ensuring More Women Voting Participation

2024 Election: Absolute Number Voter Turnout So Far show Female Voters outstripping Men...

May 20, 2024

CBI Registers Case Against Head Cashier OF PNB

Allegations of illegally transferring an amount of Rs4.98 crore

May 18, 2024

RBI Imposes Penalty Of Rs59 Lakh On Karnataka Bank

The action is based on deficiencies in regulatory compliance

May 17, 2024

Varachha Coop Bank’s Net Profit Up By 114% At Rs36 Cr

The leading USB of Gujarat is going to organize its AGM on 4-6-2024 at Surat

May 17, 2024

In Next Fortnight, Weakness Expected In INR To Continue Amidst FPI Outflows

FPI inflows into Indian equities expected to stage a comeback post the election results

May 17, 2024

2 Coop Banks Penalized

These actions on 4 coop banks are based on deficiencies in regulatory compliance

May 17, 2024

NBFCs Urged To Bolster Governance, Assurance Functions

Conference for the Heads of Assurance Functions of Non-Banking Financial Companies (NBFCs)

May 16, 2024

YES Grandeur Introduced For Elite, Emerging Affluents

With Indian middle class nearly doubling to 61% by 2046-47 as per PRICE Report, rising incomes and the expansion of middle-class and high-income segments will reshape future consumption

May 16, 2024

PFC Group’s PAT Up By 25% To Rs2.64 Bn

The current balance sheet size is 10.39 trillion

May 16, 2024

Co-operative Bank Fined Rs2.5 lakh

This action on the said coop bank is based on deficiencies in regulatory compliance

May 16, 2024

Harsh Baweja Takes Charge As REC's Director (Finance)

Baweja's profound understanding of the intricate financial landscape within the energy sector has been instrumental in steering REC's growth trajectory and enhancing its financial performance over the years.

May 14, 2024

A Likely Surge In FPI Flow (Debt)

India is expected to garner total inflows close to US$ 30bn in FY25

May 14, 2024

Quant Mutual Fund Gets RBI Approvals To Go Up To 9.98% In RBL Bank

In The Event, If The Aggregate Holding Falls Below 5%, Prior Approval Of RBI Will Be Required To Increase It To 5% Or More Of The Paid-Up Share Capital Or Voting Rights Of The Bank

May 14, 2024

Randhir Singh To Be Appointed As IndoStar's Executive VC

Randhir Singh was most recently Joint CEO of APAC Financial and brings 29 years of experience in Financial Services with leadership roles at Citibank, Deutsche Bank and Edelweiss Financial Services

May 13, 2024

Risk Profile Weighs on Indian Banks' Viability Ratings

Asset quality pressures from the previous credit cycle are subsiding, creating a favorable business environment

May 13, 2024

HDFC Bank Parivartan Helps Women In Healthcare

Trained at the three Nursing Kaushal Colleges supported by HDFC Bank Parivartan, the young women are now earning between 2X-3X of their annual family income

May 13, 2024

TVS Holdings To Acquire Home Credit India For Rs5.54 Bn

TVS Holdings will expand its presence in the consumer finance space

May 12, 2024

Bank of India's Net Profit Increased By 57% To Rs63 Bn

Gross NPA ratio down by 233 bps YoY

May 10, 2024

BOB’s Net Profit Up 26% To Rs178 Bn

BOB has witnessed improvement in its Asset quality with reduction in GNPA by 87 bps YoY to 2.92% from 3.79% in Q4FY23

May 10, 2024

Muthoottu Mini Opens Office in BKC

The country’s leading NBFC has today announced its strategic expansion with a new office space in Mumbai’s financial hub Bandra-Kurla Complex

May 10, 2024

BOI Rakshak Package Offered To Indian Coast Guard

Through this exclusive BOI Rakshak Package, Bank of India will offer numerous benefits to all Ranks of the Indian Coast Guard, Veterans, Recruits and Agniveers

May 09, 2024

Capital SFB’s PAT Increases To Rs1.12 Bn, 5 Yr CAGR 42%

Leading asset quality with GNPA and NNPA of 2.8% and 1.4% respectively

May 09, 2024

SBI’s FY24 Net Profit Grows By 21.59% To Rs610.77 Bn

Gross NPA ratio at 2.24% improved by 54 bps YoY

May 09, 2024

PNB's Net Profit Up By 229% To RsRs82.45 Bn

Bank's GNPA ratio improved by 301 bps on Y-o-Y basis to 5.73% as on March’24 from 8.74% as on March’23

May 09, 2024

DBS Bank India Supports Women Re-entering Workplace

The bank introduces six-month project-based internship program for women returning from a career break, as part of larger diversity and inclusion efforts

May 09, 2024

Restrictions On 'Bob World' Mobile Application Lifted

The bank will now resume onboarding new customers in the Bob World application

May 08, 2024

Aadhar HFC Raises Rs898 Cr From 61 Anchor Investors

Aadhar Housing Finance Limited allocates 2,85,04,761 Equity Shares at the upper price band of Rs315 per Equity Share with face value of Rs10 per Equity Share

May 08, 2024

SVC Bank Floats Long Term Subordinated Bonds Series-2

The co-operative bank offers an attractive interest rate of 8.50% p.a.

May 08, 2024

Nominations Announced For African Banker Awards 2024

The 2024 edition of the Awards spotlights infrastructure, sustainability, and gender equality.

May 07, 2024

CreditAccess Grameen's PAT Up 75% To Rs14 Bn

Completion of 25 years of Inclusive Finance Journey

May 07, 2024

Citi Is No.1 Investment Banking Franchise in India

Robust momentum in the quarter with $11.4bn of deals announced across ECM and M&A

May 07, 2024

Domestic Bond Issuance To Rise To Rs10.6 Tn: ICRA

Incremental total credit (bonds, non-food bank credit and CPs) expansion projected to moderate to Rs24.5 trillion in FY2025 from Rs. 25.4 trillion in FY2024

May 07, 2024

Muthoot Microfin Posts Highest-Ever AUM at Rs121.93 Bn

Its full year profit swells 2.74x

May 06, 2024

Odisha RRB Penalized

Monetary penalty is of Rs1,50,000 for non-compliance with the directions issued by RBI on ‘Strengthening of Prudential Norms - Provisioning, Asset Classification and Exposure Limit’ and ‘Regional Rural Banks - Income Recognition, Asset Classification and Provisioning Norms - Non-Performing Assets (NPAs)’

May 06, 2024

Grihum HFC Delivers Highest Ever Yearly PAT

Profit After Tax of Rs140 crore with AUM crossing Rs8,200 crore mark in FY24

May 06, 2024

ADB’s Board OK'd $1.42 Bn Net Income Allocation

ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific

May 06, 2024

REC Gets RBI Nod To Set Up Subsidiary in GIFT City

The proposed subsidiary will engage in a range of financial activities as a finance company within GIFT, including lending, investment, and other financial services.

May 05, 2024

Kotak Mahindra Bank Will Step-Up Investments To Fortify Its IT Systems

KMB’s Standalone PAT Up 26% To Rs138 Bn; As at March 31, 2024, GNPA was 1.39% & NNPA was 0.34% (GNPA was 1.78% & NNPA was 0.37% at March 31, 2023)

May 04, 2024

Aptus Value HFC’s PAT Up 22% Y/Y To Rs 6.12 Bn

Disbursement at Rs3,127 crores for FY24, growth of 31% Y-o-Y

May 03, 2024

Kinara Capital Gets ‘A’ Grade In SER From MFR

Independent Assessment Rates Kinara Capital on its Current Performance & Future Capacity to Achieve its Social and Environmental Goals

May 03, 2024

WALR On Fresh Rupee Loans Of SCBs Stood At 9.37%

The WALR on outstanding rupee loans of SCBs was at 9.85 per cent in March 2024 (9.83 per cent in February 2024)

May 03, 2024

Personal Loans Growth Moderated To 17.7%

On a year-on-year (y-o-y) basis, non-food bank credit2 registered a growth of 16.3 per cent in March 20243 as compared with 15.4 per cent a year ago.

May 03, 2024

Sensex Is Trading Further Higher Today

US labour market data showed persistent tightening. Jobless claims rose less than expected by 208

May 03, 2024

CME Fed Watch Tool Indicates 50:50 Chance Of A September Cut

RBI cannot move ahead to the Fed as interest differential between US and India is at an all time low

May 03, 2024

3 Coop Banks From Maharashtra Penalized

These actions on the 3 coop banks are based on deficiencies in regulatory compliance

May 02, 2024

UGRO Capital Raises Rs13 Bn From Institutional Investors & Marquee Family Offices

UGRO raised this capital through an innovative combination of Compulsorily Convertible Debentures with Warrants, ensuring that the capital required for both the current year's growth and next year's growth is effectively locked in today.

May 02, 2024

Dalmia Bharat Foundation & Karur Vysya Bank To Empower Youth

DBF to train 400 rural youth through its DIKSHa centres in South India

May 01, 2024

Ex Branch Manager of Vijaya Bank Given 3 Years’ RI

It was revealed during the investigation that accused in conspiracy with private persons sanctioned and disbursed said 05 (five) housing loans without verifying the genuineness of various documents which resulted into wrongful loss to the bank

Apr 30, 2024

REC's Net Profit Up 27% To Rs 140 Bn Y/y

The NBFC records highest ever annual net profit, declares final dividend of Rs5 per share

Apr 30, 2024

IndoStar Retail AUM Grows 49% To Rs78.64 Bn

The company has demonstrated improvement in asset quality over the last year, with consolidated Gross Stage 3 assets at 4.10% in FY24

Apr 30, 2024

RBI Cancelled CoR Issued To Acemoney (India)

The CoR of the abovementioned company has been cancelled on account of violation of RBI guidelines on managing risks and code of conduct in outsourcing of financial services in its digital lending operations undertaken through third party apps

Apr 29, 2024

5 Coop Banks Penalized

These actions by the RBI on 5 coop banks are based on deficiencies in regulatory compliance

Apr 29, 2024

Jana SFB’s PAT Up 162% To Rs6.70 Bn

GNPA improved to 2.0% as of March 31, 2024, as against 3.6% as of March 31,2023

Apr 29, 2024

Jana SFB’s PAT Up 162% To Rs6.70 Bn

GNPA improved to 2.0% as of March 31, 2024, as against 3.6% as of March 31,2023

Apr 29, 2024

PNB HFC's PAT Up 44% Y/y At Rs15 Bn

Corporate GNPA is 3.31% as on 31st Mar 2024 as compared to 22.25% as on 31st Mar 2023 and 3.35% as on 31st Dec 2023.

Apr 29, 2024

Poonawalla Fincorp Records Highest Ever PAT of Rs10 Bn

Gross NPA at 1.16%, reduced by 28 bps YoY and 17 bps QoQ

Apr 29, 2024

Sensex Is However Trading Higher Today

Global currencies depreciated against a stronger dollar

Apr 29, 2024

Sensex Is Trading Higher Today

Global currencies depreciated against a stronger dollar

Apr 29, 2024

SBFC Finance Soars In Q4FY24, Ending Year On A High

The Gross Non-Performing Asset (NPA) ratio is at 2.43% as at March 31, 2024 in comparison to 2.57% same time last year

Apr 28, 2024

IDFC FIRST Bank’s PAT Up By 21% Y/y to Rs29.57 Bn

Provisions increased 43% YOY from Rs1,665 crore in FY23 to Rs2,382 crore in FY24

Apr 28, 2024

ICICI Bank's PAT Up By 17% To Rs107 Bn

The Board has recommended a dividend of ? 10 per share (equivalent to dividend of US$ 0.24 per ADS) in line with applicable guidelines

Apr 27, 2024

YES Bank's Net Profit Up 74% At Rs12.51 Bn Y/y

GNPA, NNPA Ratio (each down 30 bps Q-o-Q) and PCR (up 10 percentage points) significantly improve Q-o-Q

Apr 27, 2024

RBL Bank’s Net Profit Grows By 30% Y/y To Rs3.53 Bn

GNPA improved 72bps YoY to 2.65%; NNPA improved 36bps YoY to 0.74%, PCR including technical write-off of 89.8%

Apr 27, 2024

BoM’s Net Profit Up By 55.84 % to Rs40.55 Bn

Gross NPA declined to 1.88 % as on 31.03.2024; Total Business grew by 15.94 % to Rs 474,411 crore

Apr 26, 2024

Innovative Financing Solutions Needed For Emerging Renewable Energy Technologies

Pradip Kumar Das proposed at World Energy Congress 2024 the mandate of allocating 4%-5% of Assets Under Management (AUM) from domestic pension / insurance funds into renewable energy bonds, to deepen the bond market and increase additional global and local investments

Apr 26, 2024

REC Avails SACE-Covered Green Loan Facility For JPY 60.536 Bn

Participation From Banks Across Asia, America And Europe

Apr 26, 2024

Banks May Fix Limits For Aggregate Exposure To All NBFCs

Banks’ exposure to NBFCs shall be subject to capital charge as per the Risk Weight prescribed

Apr 26, 2024

5 Coop Banks Penalized

These actions on 5 coop banks are based on deficiencies in regulatory compliance

Apr 26, 2024

IndusInd Bank's Net Profit Up By 21% To Rs90 Bn Y/y

Net Interest Margin for Q4 of FY24 stood at 4.26% against 4.28% for Q4 of FY 23 and 4.29% for Q3 of FY24

Apr 25, 2024

IIFL Samasta Finance Adds 3 Members To BoD

This strategic move reflects the company's commitment to further strengthen its governance structure and driving continued growth and innovation in the microfinance sector

Apr 25, 2024

DCB Bank’s PAT Up By 15% To Rs5.36 Bn Y/y

The Provision Coverage Ratio (PCR) as on March 31, 2024, was at 77.30% and PCR without considering Gold Loans NPAs was at 78.18%

Apr 25, 2024

10 States Contributed To 72% Of Originations For 5 Consumer Lending Products

While Private Banks gain a share in volume, NBFCs gain a share in value from Q3 FY23 to Q3 FY24. Furthermore, the proportion of very low and low-risk borrowers increased from 46.5% in Q3 FY23 to 50.6% in Q3 FY24.

Apr 23, 2024

HDFC Bank Parivartan Unveils Initiative To Tackle Plastic Pollution

Effective waste management, community-led upcycling key to tackling plastic pollution

Apr 23, 2024

RBI Penalizes 5 Coop Banks: Total Fine Rs14 Lakh

These actions on 5 coop banks are based on deficiencies in regulatory compliance

Apr 23, 2024

Tamilnad Mercantile Bank Records Highest Ever Net Profit of Rs10.72 Bn

TMB Announces Dividend of Rs 10/share

Apr 23, 2024

MPC Minutes: Make No Haste!

A delayed or no-cut scenario from the US Fed is a big risk for the EM rate cycle

Apr 22, 2024

HDFC Bank’s Q4 PAT Up 40%

Domestic retail loans grew by 108.9%, commercial and rural banking loans grew by 24.6% and corporate and other wholesale loans (excluding non-individual loans of eHDFC Ltd of approximately Rs807 billion) grew by 4.2%

Apr 21, 2024

JFS’ Q4 Net Profit Up By 5.7%: Leveraging AA, Bureau & Alternate Data

JFS has recorded multi-fold increase in its net profit of Rs1605 cr for full FY2023-24 against net profit of Rs31 cr in the previous FY

Apr 20, 2024

Financial Accounts Of Scheduled And Non-Scheduled UCBs For '22-23

The publication provides aggregate information on major items of balance sheet, profit and loss account, non-performing assets, financial ratios, state-wise distribution of offices and details of priority sector advances

Apr 19, 2024

INR Is Trading Further Weaker Today, In Line With Other Asian Currencies

Reports of an escalation in tensions between Israel and Iran have roiled global markets

Apr 19, 2024

INR Opened Stronger Today

IMF raised its global growth forecast to 3.2% in 2024 from 3.1% estimated earlier, led by better-than-expected growth outcomes in advanced economies

Apr 18, 2024

South Indian Bank Signs MOU with Ashok Leyland

With this tie-up, South Indian Bank aims to help the dealer partners of Ashok Leyland Limited, streamline vehicle inventory funding.

Apr 18, 2024

SIDBI & GAME Complete 1st Cohort of NGAP

17 NBFCs completed the First NBFC Growth Accelerator Programme cohort.

Apr 17, 2024

Celebrating Women Led Festival of Democracy

How the narrative has decisively changed from “Missing Women” to “Women-in-the-Middle” in the last decade

Apr 17, 2024

BoI Partners With IMGC For Mortgage Guarantee-backed Home Loans

IMGC has guaranteed home loans worth 25,000 + Crores to more than 1 lac + Home Loan Borrowers

Apr 16, 2024

Submission Of Statutory Returns Now On CIMS Portal

Banks shall, accordingly, submit the fortnightly Form A Return from the Reporting Friday June 14, 2024, monthly Form VIII Return from May 2024 and the annual Form IX (on unclaimed deposits) Return from December 31, 2024 respectively on the CIMS Portal only

Apr 15, 2024

Arvind Vashistha Continues As Citi’s Head Of India ECM

Citi tops India and Asia-Pac underwriting league tables for first quarter 2024

Apr 15, 2024

Superior Interest Rates: Tectonic Change For Senior Citizens

Deposit rates moved up more for public sector banks even as RBI holds rates

Apr 15, 2024

Geo-political Tensions Likely To Weigh On Investors’ Sentiments

Inflation in both Germany and France moderated, inching closer to ECB’s target of 2%. In China, exports and import growth contracted in Mar’24 by 7.7% and 1.9% respectively.

Apr 15, 2024

CPI: Eases To A 10-Month Low; Risks Remain

While an August rate cut remains possible, we see a larger probability of the first cut in October, given our expectation for the Fed to start moving in September 2024.

Apr 14, 2024

PNB, @130 Years, Launches Digital Offerings

PNB commits to environment sustainability through PALAASH 2.0 and also sets up Mini Science Centre at one of the Delhi Govt. School

Apr 13, 2024

Inflation, Credit, Currency, Bond Yields, Stock Markets Have Not Shown Specific Tendency In Last Elections In Polling Months

It does look like that during the Elections there is a watchful stance taken by the government on capex. This is also witnessed for company investment announcements as well as foreign investors

Apr 12, 2024

DBS Bank Leads $100 Mn Syndicated ECB Loan For HDFC Credila

DBS Bank is the sole mandated lead arranger and book-runner for the loan through its IFSC banking unit in GIFT City

Apr 10, 2024

NBFC Co-lending AUM Closing In On Rs1 Tn mark

NBFC Co-lending AUM Closing In On Rs1 Tn mark Share of personal loans in the co-lending book, however, likely to moderate

Apr 08, 2024

PNB Housing Finance Widens Distribution Footprint To 300 Branches

The HFC expands presence in 150+ unique cities to cater to diverse needs of customers

Apr 08, 2024

INR Is Trading Stronger Today, While Asian Peers Are Trading Mixed

Sensex is trading higher today

Apr 08, 2024

RECPDCL Awards 2 SPVs

RECPDCL hands over Kallam Transco Limited SPV to IndiGrid and Jalpura Khurja Power Transmission Limited SPV to Tata Power

Apr 07, 2024

FY25 Headline CPI Likely To Be In Range Of 4.5-5% With Risks Tilted To The Upside

9 out of 20 commodities have registered some momentum in prices; BoB Essential Commodity Index increased at the fastest pace in Mar’24

Apr 06, 2024

Rate Cut Cycle Will Be Shallow At 50-75 BPS

Liquidity to remain in the neutral zone

Apr 06, 2024

RBI Is Possibly Guiding The Market With A Prolonged Rate-Cut Cycle

he C/D ratio of banks has moved past 80 now, as banks continue to meet the robust credit demand from new as also sunrise sectors (climate transition/ start-ups) though pressure on mobilizing liabilities from non-deposits sources remain

Apr 05, 2024

Muthoottu Mini Soars As Best BFSI Brand

MD Mathew Muthoottu wins ‘Most Promising Business Leader of Asia 2024’

Apr 05, 2024

Enhancing Efficiency Of Banks In Handling Currency

The Central Bank’s decision to enable cash deposits in Cash Deposit Machines (CDMs) using the Unified Payments Interface (UPI) signals a positive step for India's financial future

Apr 05, 2024

Optimism Towards Steady Demand For Gold- Vehicle-Home Loans

Steady pick up in investment activity and strengthening of rural demand conditions bode well for the economy

Apr 05, 2024

Rural Demand Remains Upbeat

Rajiv Sabharwal: The Indian rupee's resilience, being among the least volatile currencies, amplifies the positive sentiment and demonstrates India's economic resilience on the global stage

Apr 05, 2024

Suryoday SFB’s Disbursements Grew 36% Y/Y

Suryoday Small Finance Bank has provided Q4 FY 24 Pre Results Quarterly Update.

Apr 04, 2024

Highest Ever Quarterly Disbursement Of Rs96.80 Bn By Poonawalla Fincorp

The year witnessed remarkable improvement not only on AUM but also on profitability and credit quality across four quarters

Apr 04, 2024

PFC Pays Interim Dividend of Rs20.33 Bn

Highest-ever Interim Dividend to Government of India

Apr 03, 2024

NBFC Sanctions Grew 6% YOY

Home loans showed a marginal decline of 2%

Apr 03, 2024

No Change Likely In Rates Or RBI's Stance

RBI to remain static

Apr 03, 2024

SIDBI: 34 Years Of Fostering Entrepreneurship

Sudatta Mandal, DMD, points out SIDBI's achievement of surpassing a balance sheet milestone of Rs5.2 lakh crore.

Apr 02, 2024

RBI Issues Prudential Norms On Capital Adequacy For UCBs

Tier 1 and Tier 2 to Tier 4 UCBs shall maintain minimum Capital to Risk Weighted Assets Ratio (CRAR) as per prescribed norms

Apr 02, 2024

RBI’s Prospective Rate Cut In Q2FY25 Will Further Support Ongoing Momentum

Stock market movements

Apr 02, 2024

Stocks In US Ended Lower As Strong PMI Data Dented Expectations Of A Jun’24 Rate Cut By The Fed

In India, equity indices started the new fiscal year on a positive note with the Sensex rising by 0.5%

Apr 02, 2024

RBI Might Cut Rates Only In Q3FY25

Deposits and credit expected to grow 14.5-15% and 16.0-16.5% respectively in FY25

Apr 02, 2024

REC Wins SKOCH ESG Award 2024

The Maharatna CPSE wins the award in Renewable Energy Financing Category

Apr 01, 2024

6 Enterprises, Shown In Shark Tank India, Gets DBS Foundation's Grants Of Rs45 Lakhs

The grant size for each individual enterprise ranges from INR 5 lakh to 15 lakh and will be utilised by the respective winners to build consumer awareness, scale operations, and deploy technology to enhance productivity.

Apr 01, 2024

Envisage Changes In Banking Due To Fin-Techs: PM

“RBI is the appropriate body for the holistic appreciation of the banking vision of Viksit Bharat: Prime Minister Narendra Modi; Indian Banking System Seen As Strong, Sustainable

Apr 01, 2024

INR Expected To Trade In A Range Of 82.50-83.50/$ In FY25

Currency update: A Stronger Dollar Did Weigh On Most EM Currencies

Apr 01, 2024

Sensex Is Trading Higher Today

Fed Chair Powell, noted that Fed is not getting tolerant to higher inflation and hinted rate cuts very much remain on table

Apr 01, 2024

Share Of EBLR Linked Loans In Outstanding Floating Rate Rupee Loans Is 56%

Lending and Deposit Rates of Scheduled Commercial Banks – March 2024

Mar 29, 2024

Transactions Of Central / State Governments: Special Measures For Current FY

Annual Closing of Government Accounts

Mar 29, 2024

Special Clearing Operations For Government Cheques On March 30 & 31, 2024

Currency Chests operations on March 31, 2024; Special Measures for extending services to Policy Holders of LIC of India

Mar 29, 2024

Growth Decelerated In Vehicle Loans, Other Personal Loans

Sectoral Deployment of Bank Credit – February 2024

Mar 29, 2024

IIFL HFC Takes 5% Stake In RDCL

It will promote development of Residential Mortgage-Backed Securitisation in India

Mar 28, 2024

Flows Of USD 20-22 Bn Expected Under JPM Bond Route

Given the current assessment of a resilient economic condition, the rate cutting cycle this time is likely to be shallow

Mar 28, 2024

Global Currencies Closed Mixed Against US$, With JPY And GBP Appreciating

Sensex is trading higher today

Mar 28, 2024

BoP: Q3 CAD Improves; Seen At -0.7% Of GDP For FY24

Capital flows were in surplus to the tune of USD 17.4 bn (or 2.0% of GDP) supported by net FPI flows and banking capital

Mar 27, 2024

India Accumulated 235 Bps In Real Growth During Post-Pandemic

A glimpse into rising competitive federalism that benefits the bottom line with incremental per capita income, vanquishing inequality

Mar 27, 2024

INR Is Trading Lower Today, In Line With Other Asian Currencies

India’s 10Y yield closed steady at 7.09%, as oil prices retreated. It is trading flat today as well

Mar 27, 2024

5 Coop Banks Penalized

These actions on 5 coop banks are based on deficiencies in regulatory compliance

Mar 26, 2024

DCB Bank Integrates With GST Portal

The Bank enables the taxpayer to make GST payment using online & branch over the counter options

Mar 26, 2024

Sensex Traded Lower In The Morning Session Today

Swiss National Bank sprang into action as it announced a 25bps rate cut; Post the rally in US indices, the week started on a sombre note as investors tried to assess the future path of interest rate ahead of the release of key inflation figure

Mar 26, 2024

Asia-Pacific Banks Not Feeling the Heat from Final Basel Rules

The majority of APAC banking jurisdictions are set to take the latest global iteration of Basel capital standards in their stride, says Fitch Ratings

Mar 25, 2024

Asia-Pacific Banks Not Feeling the Heat from Final Basel Rules

The majority of APAC banking jurisdictions are set to take the latest global iteration of Basel capital standards in their stride, says Fitch Ratings

Mar 25, 2024

5 Coop Banks Penalized

These actions on 5 coop banks are based on deficiencies in regulatory compliance

Mar 22, 2024

Star HFC Inks Co-lending Partnership with Tata Capital HFC

The partnership aims to service 5000 home buyers in EWS/ LIG segment in the first phase of engagement

Mar 22, 2024

SIDBI Reduces Investors’ Risks In EV Adoption

SIDBI unveils six de-risking measures to accelerate India’s electric two and three-wheeler adoption; SIDBI’s latest report launched in Washington D.C.

Mar 21, 2024

DBS Foundation Awards SGD 3.7 Mn In Grant Funding To 24 Businesses

Businesses for Impact (BFIs) to also receive bank-wide support such as preferential banking packages and mentorship

Mar 21, 2024

12% Growth Likely For Non-Food Industry Credit

Health of Indian banking sector continues to improve with better asset quality, high credit growth: FICCI-IBA Bankers’ Survey

Mar 21, 2024

Dvara KGFS Secures $14.4 Mn Investment

Investment Is From IIX’s Women's Livelihood Bond 6

Mar 21, 2024

Except FTSE (Flat), Other Global Stock Indices Ended Higher

INR is trading stronger today

Mar 21, 2024

10Y Yields In China, US, And UK Fell The Most

Sensex is trading higher today

Mar 20, 2024

2 Banks Heavily Penalized

The action is based on deficiencies in regulatory compliance

Mar 19, 2024

IPL: Hero FinCorp Partners with Delhi Capitals

The bank introduces future-focused funding program to fuel growth aspirations of tech-focused enterprises

Mar 19, 2024

SC Directs SBI To Make A Complete Disclosure Of All Details On Electoral Bonds

The Election Commission of India shall upload the details forthwith on receipt of the communication by SBI: Supreme Court

Mar 19, 2024

Arvind Kapil Is New MD & CEO Of Poonawalla Fincorp

Poonawalla Fincorp prepares itself for the next level of growth

Mar 19, 2024

BoJ Hiked Rates For 1st Time In 17 Years

Sensex is trading lower today

Mar 19, 2024

India Shelter Finance Celebrates 14th Founder's Day

The company Marks Founder's Day with the special theme 'Leading to serve'

Mar 18, 2024

INR Expected To Trade In A Narrow Range Of 82.75-83.00/$ In Mar’24

In Mar'24 so far, global currencies have broadly appreciated against the dollar

Mar 18, 2024

Sensex Is Trading Higher Today

INR was marginally weaker, monitoring movement in oil prices. But it is trading stronger today, while other Asian currencies are trading lower.

Mar 18, 2024

5000 Volunteers Participated In SBI Green Marathon

"SBI Green Marathon" is Run for a greener planet

Mar 18, 2024

Opportunities For NBFCs For Viksit Bharat 2047 Discussed

Rajendra Setia: Leveraging technology and data analytics, there are ample opportunities to address the unique needs of Rajasthan's populace, especially within the vital MSME and Vehicle finance sector

Mar 16, 2024

RBI Reconstitutes Committee Of Advisors Of Abhyudaya Coop Bank

Committee of Advisors" will now comprise of Devendra Kumar (former Chief General Manager, SBI); Venkatesh Hegde (former General Manager, SBI); Suhas Gokhale (former MD, COSMOS Co-operative Bank)

Mar 16, 2024

Muthoot Microfin Starts Operations in Telangana

The first phase of the expansion will see the inauguration of 4 branches across Telangana in March 2024

Mar 15, 2024

2 Banks, 1 NBFC Penalized

These actions on 4 coop banks are based on deficiencies in regulatory compliance

Mar 14, 2024

Arya.ag & Shivalik Bank Empower Farmers With Rs2 Bn In Commodity Financing

Paving the way for enhanced financial inclusion through technological innovation and robust banking frameworks

Mar 14, 2024

SIDBI’s EWEE Initiative for Rural Women

E-WEE will support inspirational and aspirational SEWA sisters initially in the two states i.e. Rajasthan and Gujarat

Mar 14, 2024

RBL Bank’s 2 Debit Cards Come With A 0% Foreign Currency Mark-Up

Every $ saved is INR earned

Mar 14, 2024

Sensex Is Trading Further Lower Today

INR is trading stronger today

Mar 14, 2024

GoI, ADB Sign $181 Mn Loan To Improve Mobility In Ahmedabad

The project will benefit urban poor, women, and migrant workers through improved urban services and urban governance

Mar 14, 2024

SANY India Partners With J&K Bank

This collaboration between SANY India and J&K Bank is strategically designed to leverage the strengths of both entities

Mar 13, 2024

Cumulative Recovery Rate For ARCs To Rise 500-700 Bps In ’24-25

Cumulative Recovery Rate For ARCs To Rise 500-700 Bps In ’24-25

Mar 13, 2024

Sensex Is Trading Further Higher Today

INR is trading weaker today

Mar 13, 2024

P.E. Mathai of Muthoottu Mini Financiers Wins ‘Best CEO’ Award

Under his guidance, the company has achieved significant milestones, including 103% QoQ profit growth in Q1 of this financial year

Mar 12, 2024

Hero FinCorp’s New Look For A Rising Bharat

Hero FinCorp brand identity refresh

Mar 12, 2024

Sensex Is Trading Higher Today, While Asian Stocks Are Trading Mixed

INR is trading further stronger today

Mar 12, 2024

Aditya Birla Finance Amalgamated With Aditya Birla Capital

The amalgamation will create a large unified operating NBFC

Mar 11, 2024

Processes For Monitoring End Use Of Loans Must Be In Place: FIDC

Advisory on strict compliance to regulations & governance to all members of FIDC

Mar 11, 2024

Capri Cuts Gold Loan Interest By 100 Bps

Zero processing fees, Instant transfer to bank account, Safe and secure storage

Mar 11, 2024

Muthoot FinCorp Begins SCF Operations

Shaji Vargese, CEO - Muthoot FinCorp Ltd, said "Beginning our Supply Chain Finance journey is another step towards solidifying our commitment to our mission in providing timely credit to millions of MSME entrepreneurs in the country

Mar 11, 2024

INR Is Trading Stronger Today

Sensex is trading lower today

Mar 11, 2024

Assets Of Rs50.20 Cr Of A Sakhar Karkhana Attached

The case is related to illegal sale of sugar mills by Maharashtra State Co-operative Bank

Mar 09, 2024

Kinara Capital Allocates Rs5 Bn Fund For Women-Owned MSME Startups

India’s fast-growing fintech driving MSME financial inclusion marks 5th anniversary of HerVikas

Mar 08, 2024

U Gro Capital Launches Loans For Women Entrepreneurs

Simplifying the loan process, offering a 50% discount on processing fees for loans disbursed until March 31, 2024

Mar 08, 2024

BoB Offers Benefits To Open Accounts Designed For Women

bob Mahila Shakti Savings Account or bob Women Power Current Account

Mar 08, 2024

RBI & Bank Indonesia Will Promote Use Of Local Currencies For Bilateral Transactions

The MoU was signed by the Governor, Reserve Bank of India, Shri Shaktikanta Das and the Governor, Bank Indonesia, Mr. Perry Warjiyo

Mar 08, 2024

Dvara KGFS Uses LMS Platform, To Track Employees' Training, Proficiency

The specific tools and technologies deployed may vary based on the type of assessment and the skills being evaluated

Mar 07, 2024

Bank of Maharashtra Launches Women Cancer Coverage Program

Mahashakti is powered by ManipalCigna Health Insurance

Mar 07, 2024

1/3rd Of Jobs Created By Women-Owned MSMEs Go To Women

Women-Owned MSMEs Created 11% More Jobs For Women Than Men-Owned MSMEs; Women-owned MSMEs Demonstrate Higher Repayment compared to Male-owned MSMEs

Mar 07, 2024

Mufin Green Finance Secures USD 5 Mn Sanction

The company announces the raising of a significant debt from BlueOrchard

Mar 07, 2024

Sensex Is Trading Further Stronger Today

Global markets monitored Fed Chair's speech which hinted at delayed start to the rate cut cycle, probably later this year

Mar 07, 2024

23% Of Salaried Women In Metros Feel Gender Pay Gap

16% report gender bias at their workplace: Survey by CRISIL and DBS Bank India: With rising affluence, the perception of gender pay gap and bias is seen to increase

Mar 06, 2024

Home Credit India & SEWA Bharat Will Educate 20,000 Marginalised Women

Saksham 2024 intends to organise 800+ financial literacy workshops to train 20,000 women

Mar 06, 2024

RBI Stops JM Financial Products From Financing Against Shares And Debentures

Action under Section 45L(1)(b) of the Reserve Bank of India Act, 1934

Mar 06, 2024

Bank of India Strengthens its Leadership

M R Kumar and Rajiv Mishra Appointed

Mar 06, 2024

Sensex Is Trading Stronger Today

Except China and UK, stocks elsewhere closed weaker

Mar 06, 2024

Sensex Is Trading Weaker Today

Except US and UK, stocks elsewhere ended higher

Mar 05, 2024

Merger Of Fincare SFB With AU SFB Approved

All-stock merger with shareholders of Fincare SFB to receive 579 equity shares in AU SFB for every 2,000 equity shares held in Fincare SFB

Mar 05, 2024

RBI Directs IIFL Finance To Stop Sanctioning Gold Loans

The company can, however, continue to service its existing gold loan portfolio through usual collection and recovery processes

Mar 04, 2024

PNB, EaseMyTrip Introduce EMT Credit Card

A unique travel-focused co-branded credit card that promises a seamless and rewarding travel experience for Indian customers

Mar 04, 2024

Slowdown In Discretionary IT Spends By BFSI, Retail, Tech, Communication

INDIAN IT SERVICES INDUSTRY FEBRUARY 2024 Revenue growth to remain tepid at 3-5% in FY2025

Mar 04, 2024

Suryoday SFB Revises FD Rates By 41 Basis Points

Senior citizen can get 9.25 percent interest rate

Mar 04, 2024

REC Will Provide Rs10 Cr For Education Of Children In UP

REC and UNISED Agreement signed to strengthen the education of children in Siddharthnagar, Uttar Pradesh

Mar 04, 2024

INR Is Trading Weaker Today

In UK, house price index firmed up in Feb'24, while PMI reading still trailed below the 50 mark. On domestic front, PMI data rose to its 5 month high supported by both domestic and external demand

Mar 04, 2024

Liquidity Conditions Are Still Tight

US 10Y inched up considerably

Mar 04, 2024

NUCFDC Is Security Shield For Small Banks: Shah; Development Of UCBs Will Increase Manifold

Union Minister of Cooperation Amit Shah Inaugurates NUCFDC: Establish UCBs In Every City; NUCFDC will be a support during the crisis of banks and also a means to enhance their modernization and capacity

Mar 02, 2024

NaBFID targets sanctions of Rs3 Tn by March 2026

FM Sitharaman asked NaBFID to introduce a Structured Partial Credit Enhancement facility, create a Data Repository for the infrastructure sector and develop a sector specialisation

Mar 02, 2024

Personal Loans Growth Moderated To 18.4%

Sectoral Deployment of Bank Credit – January 2024

Mar 02, 2024

S.Ravindran’s Appointment As Part-Time Chairman Of TMB Approved

The RBI approval is subject to S. Ravindran, stepping down from his Directorships in Shriram Finance and Bandhan AMC Limited, prior to assuming charge

Mar 01, 2024

Consumption Story To Play Second Fiddle To Investment-Led Growth

The annualized numbers show a Amritkaal phase for India especially with investments' underpinning the growth trajectory

Mar 01, 2024

RBI Cancels License Of Sumerpur Mercantile UCB

The Registrar of Cooperative Societies, Rajasthan has also been requested to issue an order for winding up the bank and appoint a liquidator for the bank.

Feb 29, 2024

Mahindra Finance & Manipal Academy Of BFSI Launch Women-Centric Programme

Prarambh' to encourage women for careers in financial services sector; Facilities to include mediclaim, wellness policies, and maternity benefits

Feb 29, 2024

Sensex Opened Lower Today

In Japan and Australia, stronger than expected retail sales in Jan'24 is likely to keep pressure on their respective Central Banks to keep their policy stance unchanged

Feb 29, 2024

MSME Credit Grows Across Semi Urban, Rural Geographies

Facilitating wider adoption of online loan applications, financial management tools, digital payment platforms along with utilization of robust analytics, can enhance the lending to the MSMEs and help fortify India's businesses for sustained growth

Feb 28, 2024

Consumer Confidence Has Strengthened Further In India

The estimates are corroborated with the in-house developed SBI-ANN (Artificial Neural Network) model, with 30 high frequency indicators

Feb 28, 2024

Mixed Macro Data Has Raised Uncertainty Around Timing Of Fed’s Rate Cuts

Sensex opened higher today, while other Asian stocks are trading lower.

Feb 28, 2024

SIDBI has given 2 lakh loans of 1 lakh ticket sizes to women borrowers: Ramann

Rs3.64 lakh crores worth of loans were covered under ECLGS, of which only 5% were NPAs: CMD, SIDBI

Feb 28, 2024

Sensex Is Trading Higher Today

Global indices closed lower. US indices retreated as the focus shifted towards upcoming macro data for more guidance on Fed's next move

Feb 27, 2024

RBI Imposes Rs2 Cr Penalty On SBI

The monetary penalty has been imposed for contravention of provisions of sub-section (2) of Section 19 of the Banking Regulation Act, 1949 (the BR Act), and sub-section (2) of Section 26A of the BR Act read with the Depositor Education Awareness Fund Scheme, 2014

Feb 26, 2024

BoB’s Car Loan Interest Rate Reduced To 8.75%

The new rate beginning at 8.75% p.a. is applicable on the purchase of a new car

Feb 26, 2024

Women Possess Entrepreneurial Talent, With 95% Success Rate In Start-Ups: Ghosh

Bandhan Bank's Managing Director and CEO, Chandra Shekhar Ghosh: More Women Taking Lead In Family Decision-Making

Feb 26, 2024

Suryoday RBL School Inaugurated For Children With Special Needs

The initiative will educate over 100 children

Feb 26, 2024

Fed Officials Are Signalling That Fed May Want To Keep Rates Elevated For Longer

Germany confirmed that GDP contracted by (-) 0.3% in Q4CY23, following stagnation in Q3

Feb 26, 2024

IBC Has Improved Credit Culture By Resolving Huge Amount Of Stressed Assets

Over the past two decades, ARCs have set up a robust infrastructure and nurtured skilled and professional manpower to manage stressed assets

Feb 26, 2024

4 Coop Banks Penalized

These actions on 4 coop banks are based on deficiencies in regulatory compliance

Feb 24, 2024

Using AI, ML, Banks Should Assess Both Ability And Willingness To Repay: Krishnamurthy

The onus needs to be on banks to get far more intensive on AI, machine learning in addressing both adverse loan selection and moral hazard problems: ED- India, International Monetary Fund: Evergreening and zombie lending leads to distressed assets not being recognised

Feb 24, 2024

Clix Capital Launches Jazba As Its New Marketing Campaign

The new-age NBFC salutes the determination of Indian MSMEs

Feb 23, 2024

Global Stocks Rallied Propelled By Robust Earnings Of A Major Tech Company

Slowdown in China's property sector continued, with new home prices falling by another 0.3% (MoM) in Jan'24

Feb 23, 2024

REC Showcases Integrated Digital Platform For DISCOMs

The workshop witnessed the participation of more than 200 attendees from all state DISCOMs, Program Management Agencies (PMAs) and REC-TPQMAs and other stakeholders

Feb 23, 2024

Bank Of Baroda Raises Rs25 Bn

The money raised at a coupon of 7.57% p.a. through the issuance of Basel III Compliant Tier II Bonds; The issue received a strong response from investors with a total of 83 bids amounting to Rs6,237 Crores

Feb 23, 2024

Coop Bank Penalized

These actions on 4 coop banks are based on deficiencies in regulatory compliance

Feb 22, 2024

Govt To Give Rs50 Lakh Subsidy To Entrepreneurs For Horse, Donkey, Mule, Camel

Cabinet approves inclusion of additional activities in National Livestock Mission

Feb 22, 2024

UHNIs Participated In Equirus InnovateX Fund’s First Close

The fund will invest in at least two companies within the next month. EIF is poised to accelerate its mission of fostering innovation in the tech start-up ecosystem

Feb 22, 2024

DVARA KGFS SECURES $27 MILLION IN DEBT FINANCING TO STRENGTHEN FINANCIAL INCLUSION EFFORTS IN RURAL INDIA

The funding is to strengthen financial inclusion efforts in rural INDIA

Feb 21, 2024

Orient Technologies Files DRHP For IPO

The IPO has a face value of Rs 10 and consists of a fresh issue of Rs 120 crore and an offer for sale of up to 4.6 million equity shares by the Promoter Selling Shareholders.

Feb 21, 2024

IREDA’s Retail Subsidiary Will Finance Rooftop Solar, EV & B2C Segments

Das stressed IREDA's commitment to making various Renewable Energy technologies bankable, including emerging ones like Electric Vehicles, Green Hydrogen, and Offshore Wind

Feb 21, 2024

Goa Govt & PFC To Pioneer Subnational Blended Finance Facility For Climate Action

The Government of Goa is setting up the sub-national Blended Finance Facility in partnership with the World Bank, aiming to foster low-carbon, climate-resilient development

Feb 21, 2024

Sensex Is Trading Further Higher Today

Bank of England Governor along with other BoE members, commented on the possibility of rate cuts

Feb 21, 2024

RBI Bulletin – February 2024

The Bulletin includes monetary policy statement, five speeches, four articles, current statistics

Feb 21, 2024

Solarising Goa With Launch of E4E Program

This event successfully brought together MSMEs and stakeholders, to reflect on the recent developments on green finance, and to discuss how the financial system and the MSMEs can find a common ground to ensure a resilient and low-carbon transition in India

Feb 20, 2024

INR Is Trading Further Stronger Today

Global stocks ended mixed. Investors shifted their focus to Fed minutes which are scheduled to be released this week. Atlanta Fed President also spoke of more data related evidence before embarking on easing financial conditions

Feb 20, 2024

Senior Citizens Get PNB HFC’s FD At 8.30%

The special interest rates are applicable on all new and renewed fixed deposits booked until 31st March 2024

Feb 19, 2024

Equitas SFB Is Banking Partner of Chennai Super Kings

Equitas' campaign showcases Equitas' contribution in shaping up individuals' lives through the "Beyond Banking" initiatives

Feb 19, 2024

Leverage e-Auction platform For Property Listing Of Banks, FIs Under Various Acts

DFS Secretary chaired conference of heads of Debt Recovery Appellate Tribunals and Presiding Officers of Debt Recovery of Tribunals

Feb 19, 2024

SIDBI Disbursed Rs43 Bn To 100 AIFs, Which Mobilized Rs170 Bn In 1000 Startups: Ramann

Ramann: Against the commitment of Rs10,000 crore, the AIFs have brought in Rs55,000 crore of capital from global sources, which is a great contribution to Indian economy

Feb 17, 2024

How Lifestyle Inflation Rate Has Moved: Consumer Preferences Have Changed

LII has shown lower inflation compared with the ECI

Feb 16, 2024

After Japan, Now The UK’s Economy Has Slipped In To Technical Recession

The recession is expected will be short lived with recovery expected in CY24, with inflation likely to moderate

Feb 16, 2024

SBM Bank India Appoints Ashish Vijayakar as MD & CEO

He is a veteran banker with a proven track record spanning around three decades, in the banking and financial services sector

Feb 16, 2024

SBI Customers Can Digitally Enroll Under PMJJBY & PMSBY

The facility will provide impetus to the Government of India's drive of covering all eligible citizens under PMJJBY & PMSBY schemes

Feb 16, 2024

NeoGrowth’s AUM Jumps 51% To Rs24.56 Bn

The MSME-focused digital lender continues its growth streak in Q3, with double-digit Return on Equity

Feb 16, 2024

India’s merchandise exports registers 3% growth at USD 36.92 Bn

Main drivers of merchandise export growth in Jan 2024 include Petroleum Products, Engineering Goods, Iron Ore, Electronic Goods, Drugs & Pharmaceuticals, etc.

Feb 16, 2024

Das: Actively Participate In RBI’s Fintech Initiatives

RBI Governor met MD & CEOs of Public & Private Sector Banks

Feb 15, 2024

SIB Will Leverage Tech Innovations To Boost Operational Efficiency: Seshadri

South Indian Bank honoured as Best Technology Bank of Year at 19th IBA Annual Banking Technology Conference, Expo & Citations

Feb 15, 2024

INR is trading higher today, in line with other Asian currencies

Japan's economy slipped in to recession after unexpected contraction of 0.4% in Q4CY23 was noted (-3.3% in Q3CY23)

Feb 15, 2024

Many Banks Won Multiple Awards At IBA Banking Technology Conference

SBI, Bank of Baroda, Union Bank of India, Bank of Maharashtra, IndusInd Bank, City Union Bank won multiple Awards

Feb 14, 2024

Sensex Is Trading Lower Today

According to CME Fed watch tool, rate cuts are now likely (74.4% chance) in Jun'24

Feb 14, 2024

Sensex Is Trading Higher Today

Barring EUR (lower), other currencies closed flat against the dollar. DXY inched up ahead of US CPI data

Feb 13, 2024

4 Coop Banks Penalized

These actions on 4 coop banks are based on deficiencies in regulatory compliance

Feb 13, 2024

Paisalo Digital Becomes BoI’s National BC Partner

By joining forces with BOI, Paisalo Digital aims to leverage its respective strengths and resources synergistically, to tap into the vast market and address the unique financial requirements of India's unbanked population

Feb 12, 2024

Personal Loans Are Largely Concentrated In 9-11% Bucket

The average ticket size of personal loans across population group is higher for Sep'23 than for Dec'18

Feb 12, 2024

Short Term Rates May Remain Higher For Longer

Building Bridges; Fortifying Financial Landscape The Long And The Short Of Prudent Policy Making

Feb 12, 2024

INR is trading stronger today, in line with other Asian currencies

Investors attention is likely to be cued on to the US inflation data to offer more guidance on possible path for interest rates

Feb 12, 2024

Remuneration of Banks' NEDs hiked to Rs30 Lakh

The Board of the bank may fix a lower amount within the ceiling limit of Rs30 lakh per annum depending upon the size of the bank, experience of the NED and other relevant factors

Feb 10, 2024

Bank of Maharashtra To Finance Customers Of MCE

EMI starting as low as INR 51,000 per month and Lower interest rate starting from 9%; Mahindra Construction Equipment enters into preferred financier agreement with Bank of Maharashtra

Feb 10, 2024

Pentonic Continues Its Growth Journey, Contribution Increases To 33.1%

Total Income in Q3 FY24 stood at Rs 12,467 lacs, a slight degrowth

Feb 10, 2024

RBI Allows Branches Of Indian Banks In IFSC To Trade On Int’l Bullion Exchange

This circular is applicable to all Scheduled Commercial Banks (other than Regional Rural Banks).

Feb 10, 2024

Fiscal Consolidation To Hold Key

INR to continue to trade in a tight range

Feb 10, 2024

RBI Cancels CoR Of 3 NBFCs, Including Cox & Kings Financial Service

9 NBFCs and 1 HFC (Reliance Home Finance) surrender their Certificate of Registration to RBI

Feb 10, 2024

Bank Credit To MSMEs Remains Strong

With the government's announcement of a new affordable housing scheme for the middle class in the Interim Budget, there is hope for small businesses in the housing and homes value chain in the years to come

Feb 09, 2024

SIDBI Unveils An Impact Study of the Fund of Funds for Startups

CRISIL's assessment reveals heartening all-round impact

Feb 09, 2024

NBFCs Should Broad-Base Funding Sources: Rao

Sanjiv Bajaj urged RBI to harmonize corporate governance laws which would make NBFCs stronger

Feb 09, 2024

4 Coop Banks Penalized

These actions on 4 coop banks are based on deficiencies in regulatory compliance

Feb 09, 2024

Sensex Is Trading Higher Today, In Line With Its Asian Peers

Global stocks ended mixed. Investors monitored robust earnings report while also assessing the future path of interest rates

Feb 09, 2024

“A Rate Cut Is Possible Only In Q2 FY25”

The steady momentum is being witnessed in the investment cycle which will help the economy grow faster

Feb 09, 2024

“Pragmatic Approach In Quest For Digital Robustness, Customer Centricity And Price Discovery”

Contrary to market expectations of RBI pivoting away from its tight monetary stance, it delivered a well-balanced decision that retained its steadfast focus on inflation

Feb 08, 2024

DBS Bank India Achieves Sustainable Financing Milestone

The bank has successfully supported Louis Dreyfus Company India in securing sustainable financing for the procurement of palm oil certified by the RSPO

Feb 08, 2024

RBI Allows Hedging of Gold Price Risk In OTC Market In IFSC

This will provide resident entities more flexibility and easier access to derivative products in hedging their exposure to gold prices

Feb 08, 2024

All REs Mandated To Give KFS To Borrowers For Retail, MSME Loans

RBI's decision shall greatly benefit the borrowers in making an informed decision

Feb 08, 2024

Muthoot Expects Gold Linked Credit Line Via UPI

George Alexander Muthoot, MD, Muthoot Finance, shares his expectations on RBI monetary policy

Feb 07, 2024

MPC Preview: Status Quo On Rates And Stance

RBI is expected to maintain a hawk eye on inflation dynamics

Feb 07, 2024

Except Japan, Stocks Elsewhere Ended In Green

Except INR (flat), other global currencies appreciated against the dollar

Feb 07, 2024

RBI Cancels License Of Jai Prakash Narayan Nagari Sahakari Bank

The said coop bank does not have adequate capital and earning prospects

Feb 07, 2024

RBI Imposes Penalty Of Rs8.80 Lakh On Power Finance Corporation

The action is for non-compliance with certain provisions of the RBI's directions on 'Liquidity Risk Management Framework for Non-Banking Financial Companies and Core Investment Companies'

Feb 06, 2024

SBI partners with Flywire for Indian – International Students

This partnership integrates Flywire technology directly into the bank's platform, offering Indian students an advanced digital checkout experience for their international educational payments

Feb 06, 2024

Banks Should Engage With Exporters & Importers: Dr Joshi

DFS Secretary chairs meeting to review banking and insurance related international trade matters; Functionaries of RBI, IRDAI, SBI Chairman, and senior executives of major commercial banks were present in meeting

Feb 06, 2024

 Except China (lower), global yields closed higher

On macro front, US ISM services PMI data rose to its 4 month high of 53.4 in Jan'24 from 50.4 in Dec'23

Feb 06, 2024

Unity SFB’s Q3 Net Profit grows 79% at Rs1.10 Bn

The Bank will soon introduce new products such as Credit Cards, Personal Loans; CENTRUM Promoted SFB Delivers Robust Performance in Q3FY24 with Sustained Growth in Profitability, Deposits and Advances

Feb 05, 2024

REC Wins Best Green Bond Corporate Award

Maharatna CPSE has been honoured for issuance of $750 million USD Green Bonds at the Asset Triple A Awards for Sustainable Finance

Feb 05, 2024

Sensex Is Trading Further Higher Today, Other Asian Stocks Are Mostly Trading Lower

Global market indices reacted differently to different outcomes

Feb 05, 2024

SBI’s Net Profit At Rs403.78 Bn Improved By 20%

Gross NPA ratio at 2.42% improved by 72 bps YoY keywords SBI, Net Profit, Gross NPA ratio, Net Interest Income, Credit growth, Domestic Advances

Feb 05, 2024

SBI’s Net Profit At Rs403.78 Bn Improved By 20%

Gross NPA ratio of the bank at 2.42% improved by 72 bps YoY

Feb 04, 2024

Leading HFC Penalized

This action on the housing finance company is based on deficiencies in regulatory compliance

Feb 03, 2024

BoI’s Q3 Net Profit Up by 62% to Rs18.70 Bn

Provision Coverage Ratio (PCR) of Bank of India stood at 89.95% in Dec'23 against 90.27% in Dec'22. GNPA ratio improved by 231 bps from 7.66% in Dec'22 to 5.35% in Dec'23

Feb 03, 2024

Support For Rural Housing, Digitization Augurs Well For Robust Credit Demand

Budget has relied on capex led socio-economic growth template while ensuring the fiscal prudence

Feb 02, 2024

4 Coop Banks Penalized

These actions on 4 coop banks are based on deficiencies in regulatory compliance

Feb 02, 2024

Budget Has Laid Out Reinforced Architecture Of Big Possibilities: Dinesh Khara

'Nari Shakti' Takes Center Stage; Vaccination To Prevent Cervical Cancer; Government To Bring Synergy Of Various Schemes For Maternal And Childcare; U-Win Platform To Further Strengthen Digital India Initiative; Healthcare Cover For Asha Workers, Anganwadi Workers And Helpers

Feb 01, 2024

US Fed Kept Policy Rates Unchanged

Further improving global growth prospects, China's manufacturing activity contracted at a slightly slower pace in Jan'24

Feb 01, 2024

Punjab & Sind Bank’s Net Profit At Rs114 Cr Down By 69.44% Y/Y

Bank's total business stood at Rs201914 as on 31.12.2023

Feb 01, 2024

Growth In Credit To NBFCs Decelerated In Dec 2023

Sectoral Deployment of Bank Credit – December 2023

Feb 01, 2024

BOB’s Net Profit Up By 38.2% to Rs129 Bn

BOB has witnessed improvement in its Asset quality with reduction in GNPA by 145 bps YoY to 3.08% from 4.53% in Q3FY23

Jan 31, 2024

Production & Price Data Of Consumer Goods Reflect Interesting Points

The fall in production is more pronounced for fruit Juice including concentrates, chocolate & cocoa powder, spices, coffee, jams, jellies, marmalades and skimmed milk

Jan 31, 2024

North East SFB Appoints Shrimohan Yadav As Independent Director

Mr Yadav played a pivotal role in major initiatives, including ownership and licensing of private sector banks, mergers and acquisitions in the banking and financial sector, reconstruction of weak banks, and governance-related matters

Jan 31, 2024

Except UK And Germany, Other Global Yields Closed Lower

Sensex ended in red and was dragged down by losses in consumer durable and capital good stocks. It is trading lower today in line with other Asian indices

Jan 31, 2024

Karnataka Bank Will Use nPOS For Colending

This collaboration will allow Karnataka Bank to digitally onboard various NBFCs, to lend significant amount of money

Jan 30, 2024

Maintain Focus On Capital Expenditure, While Remaining On Path Of Fiscal Consolidation

The rally last year was far stronger in mid- and small-cap companies

Jan 30, 2024

Sensex Is Trading Lower Today

Barring FSTE (flat) and Shanghai Comp (lower), other global indices closed higher

Jan 30, 2024

BoB’s 7 Current Accounts Cater to Businesses

Customised and feature-rich business banking solutions to meet the requirements of a range of enterprises – from individuals & small proprietorship firms to large business houses

Jan 29, 2024

India Incubating Innovations: Ascent Of A Colossal Knowledge Based Economy 

IPR applications have grown at CAGR of 60% for the 9-year ended 2022, driven by a surge in Patents and Industrial Designs

Jan 29, 2024

Establish Low-Cost Funding Window For Equity Support To MFIs

Kuldip Maity, MD & CEO of Kolkata-based NBFC-MFI, VFS Capital, shares his expectation from the budget.

Jan 29, 2024

Sensex Is Trading Higher

US GDP in Q4CY23 expanded by 3.3%, beating expectation of 2% growth, but slowing from 4.9% in Q3

Jan 29, 2024

Capri Global Capital’s PAT Up 81% To Rs680 Mn

The NBFC-ND-SI is looking to generate at least Rs200mn in net fee income from insurance distribution in FY25E

Jan 28, 2024

YES Bank’s Q3 Net Profit At Rs2.31 Bn, Grows 349% Y/Y

Resolution Momentum strong with Total Recoveries & Upgrades for Q3 FY24 at INR 1,316 Cr. YTD FY24 cumulative recoveries and upgrades at INR 3,869 Cr

Jan 27, 2024

Budget: Consolidation The Mantra

Policy intent is likely to be made clear through the selective allocation of resources and thrust towards rural development, employment generation and capacity building through infrastructure development

Jan 27, 2024

Long-Term Rural Coops Have Disproportionately Higher NPAs

DCCBS FUNCTION WITH LOWER C-D RATIOS THAN STCBS, OWING TO THEIR HIGHER DEPOSIT BASE

Jan 27, 2024

Maharashtra Contributes Major Share In StCBs’ Net Profits

Credit growth of StCBs remained robust in 2022-23 and they liquidated their SLR investments to bridge the C-D gap due to contraction in deposits; 2 StCBs reported GNPA ratios greater than 50 %

Jan 27, 2024

Amit Shah Will Inaugurate UCBs’ Conference In Nashik

About 3,000 Representatives From 350 UCBs Are Likely To Participate

Jan 26, 2024

Digital Loans Disbursed By PNB In Q3 Improved To Rs23 Bn

Punjab National Bank's Net Profit has Increased toRs2,223 Crore during Q3 FY'24, with YoY growth of 253.41%

Jan 25, 2024

Equitas SFB’s Q3 PAT Is Rs2 Bn

GNPA down to 2.38% in Q3 FY24 from 3.46% in Q3FY23

Jan 25, 2024

Tata Cap Gives Collateral-Free Education Loans Of Rs7.5 Mn

The flagship financial services company of the Tata Group provides secured loans of up to rs2 cr or the total cost of education, including tuition fees and living costs

Jan 25, 2024

Grihum HFC’s Revenue Is Rs2.70 Bn

The HFC's Profit After Tax is Rs37 Cr, up by 8% YoY, AUM atRs7,604 Cr, up by 31% YoY

Jan 25, 2024

DCB Bank’s PAT Grows By 11%

The Provision Coverage Ratio (PCR) as on December 31, 2023 was at 76.42% and PCR without considering gold loans NPAs was at 77.27%

Jan 25, 2024

Investors Raised Hopes Of Easing Liquidity Conditions Amidst Stimulus Measures In China

Given the increasing pressure on liquidity, RBI may resort to measures to infuse durable liquidity in the system

Jan 25, 2024

UCBs Need Good Governance, Adoption Of Technology

RBI Holds Conference Of Directors Of Select Southern Zone UCBs

Jan 25, 2024

Tata Capital Provides Collateral-Free Education Loans Of Rs7.5 Mn

The flagship financial services company of the Tata Group provides secured loans of up to rs2 cr or the total cost of education, including tuition fees and living costs

Jan 25, 2024

PNB HFC’s Net Profit Up 26% to Rs3.38 Bn

It expanded affordable segment presence to 100 branches & outreaches as on 31st Dec 2023

Jan 25, 2024

Bank Credit To Expand By Robust 15% In FY2024

Incremental bank credit growth as well as corporate bond issuances to reach all-time high in FY2024

Jan 24, 2024

Fiscal Deficit For FY25 Likely To Be Around 5.5% Of GDP

Govt's Gross Borrowing Likely At Rs15.3 Trillion In FY25; Gross Tax To GDP Ratio At 16 Year High In Fy24, Could Touch Highest Ever In The Last 2 Decades In FY25

Jan 24, 2024

TVS Credit’s AUM Grows By 30% To Rs253.15 Bn

The NBFC's Net Profit grows by 53% to Rs.424 Crore for the nine months ended Dec'23

Jan 24, 2024

Sensex Is Trading Further Lower Today

Nikkei edged down amidst hawkish undertone in BoJ's Governor statement, Asian stocks are trading mixed

Jan 24, 2024

CAFRAL’s Learning Program

Forensic Audit, which involves specialized skills, identifies control failures, uncovers trails and gathers legally tenable evidence to trace funds and achieve final resolution

Jan 24, 2024

Credit Cards, Vehicle Loan Portfolios Record Statistically Significant Rise In Stress

Across product categories (barring housing loans), 80 % of the credit is contributed to by size buckets less than Rs10 to 25 lakh, thus reflecting the granular nature of retail credit even at the product level; Between 2017 and 2023, on average 60 % of the incremental credit is contributed by five banks. However, in recent years, the incremental growth contribution from the dominant banks has decreased; the policymakers may also consider using structural prudential tools, viz., debt-service rati

Jan 24, 2024

SMFG Grihashakti Gets Rs3 Bn Long-Tenor Funds From NHB

Opens up another source of long term funding for SMFG Grihashakti, thereby helping diversification of sources of funds and support asset liability management caption Deepak Patkar

Jan 23, 2024

In The US, Traders Have Trimmed Down Rate Cut Expectation In Mar’24

Sensex is trading higher today

Jan 23, 2024

TMB Records Highest Ever Quarterly Net Profit of Rs2.84 Bn

Net Interest Income of Tamilnad Mercantile Bank is Rs537 Crores

Jan 22, 2024

Additional Tax Revenue of Rs250 Bn Likely Due to UP Government’s Tourism Initiatives

UP Credit/Deposits 5-Year CAGR is better than All-India level; Where Latin America meets Scandinavia: The Road to Salvation passes through Uttar Pradesh

Jan 22, 2024

Multi State Coop Credit Societies Should Convert Themselves In To Banks: Shah

Cooperative sector will become an important partner in Modi government's 5 trillion economy target

Jan 20, 2024

CreditAccess Grameen’s PAT Up 64%

The NBFC-MFI's Gross Loan Portfolio of INR 23,382 crore, up 31.5% YoY Pre- provision Operating Profit of INR 602 crore, up 58.6% YoY Profit After Tax of INR 353 crore, ROA of 5.5%, ROE of 23.6%, GNPA of 0.97%, NNPA of 0.29%

Jan 20, 2024

RBL BANK’s Net Profits Grows 12%

5.75 Lakhs credit cards issued in this quarter; Total cards outstanding at 5.04mn

Jan 19, 2024

Equitas SFB Expands In Kochi, Thrissur

Equitas SFB aims to make banking accessible for Kerala's business, local and NRI community via the 5 branches in the state

Jan 19, 2024

IndusInd Bank’s Net Profit Up By 17%

Bank's NIM at 4.29%, Net NPA at 0.57%, Provision Coverage Ratio at 71%, Capital Adequacy Ratio (CRAR) at 17.86%

Jan 19, 2024

Sensex is trading higher today in line with other Asian stocks

Barring EUR (lower) and GBP (higher), other global currencies ended flat

Jan 19, 2024

RBI Focuses On Remedial Measures To Address Recurring Complaints

Deputy Governor Swaminathan J called upon the Internal Ombudsmen of Banks, NBFCs and CICs to provide valuable inputs for enhancing internal systems and processes

Jan 19, 2024

RBI Penalizes 5 Coop Banks: Total Penalty Amt Rs84 Lakh

These actions on 5 coop banks are based on deficiencies in regulatory compliance

Jan 19, 2024

HDFC NIFTY PSU Bank ETF Will Close On January 23

An Open-ended scheme replicating/tracking the NIFTY PSU Bank Index (TRI)

Jan 18, 2024

SBI Raises Rs50 Bn Through Additional Tier 1 Bond Issuance

The tenor of the bonds is perpetual with a call option after 10 years and every anniversary thereafter.

Jan 18, 2024

Vivriti Capital Partners Goldi Group For Its Expansion In Solar Sector

Vivriti Capital has strategically offered a tailored solution under its SCF offerings to help Goldi Group in securing essential raw materials

Jan 18, 2024

Tap Capital To Fund Businesses Up To Rs20 Bn By 2025

Tap, has helped to raise INR 250 Cr for over 70 businesses across India via asset leasing and invoice discounting products.

Jan 18, 2024

Better Than Expected Retail Sales Print In US Eroded Bets Of Rate Cut In Mar’24

UK's inflation came in higher than expected at 4% (3.9% in Nov'23) led by higher prices of alcohol and tobacco, which in turn has dented rate cut expectations from BoE

Jan 18, 2024

Indel Money Announces Secured NCD Issue Of Up To Rs2Bn

Issue opens on Tuesday, January 30th, 2024 and closes on Monday, February 12th, 2024; Coupon yielding up to 12.25% per annum

Jan 17, 2024

Sensex is trading lower today in line with other Asian stocks 5

Investors monitored comments by Fed Waller on lowering rates 'carefully' as inflation is nearing the Fed's target goal

Jan 17, 2024

Karnataka Bank-Clix Capital To Be Co-lending Via Yubi Platform

The partnership to focus on extending loans to MSMEs across

Jan 16, 2024

Prodigy Finance To Fund International Master's Students In Australia

Prodigy understands each student's financial situation is unique, and assesses loan applications through an innovative Future Earning Potential model

Jan 16, 2024

Government NBFCs Shall Be Guided By Prescribed Exposure Norms & Limits

RBI releases draft circular on Credit/investment Concentration Norms – Government owned NBFCs

Jan 16, 2024

StCBs, DCCBs Shall Appoint Or Remove Statutory Auditors After RBI Approval

RBI issues Guidelines on Appointment / Re-appointment of Statutory Auditors of State Co-operative Banks and Central Co-operative Banks

Jan 16, 2024

HFCs Shall Ensure Availability Of Full Asset Cover For Public Deposits At All Times

RBI releases draft circular on HFCs and NBFCs

Jan 15, 2024

Ayodhya Gets SIDBI’s EV Service: GI Tag For Ayodhya Laddus

SIDBI EV initiatives are geared up to spread across cities, towns and unserved segments. Besides metros, SIDBI's endeavour is to reach tourist clusters and pilgrimage centres like Mathura, Varanasi, Agra and other rural parts of India shortly

Jan 15, 2024

YES BANK Deploys Smartfin, Powered By Veefin’s SCF Solution

SmartFin facilitates digital SCF loans for dealers and suppliers of corporate clients, enabling them to achieve their strategic business objectives, that includes working capital efficiency, market expansion, sales acceleration, and strengthening supply chain partnership

Jan 15, 2024

Investors In US Monitored Quarterly Earnings And Better Than Expected PPI Report

Sensex is trading further higher today while other Asian stocks are trading lower

Jan 15, 2024

3 Banks, 1 NBFC Penalized

These actions on all the 4 entities are based on deficiencies in regulatory compliance

Jan 13, 2024

RBI Cancels License of 2 Coop Banks

Both the coop banks do not have adequate capital and earning prospects

Jan 13, 2024

India Is World Bank's Largest Client: Auguste

Gift City and Vibrant Summit the best gift that Gujarat has given to the world: World Bank Country Director

Jan 13, 2024

New Development Bank Offers $500 Mn Loan Road Project In Gujarat

During a discussion with Chief Minister Bhupendra Patel, topics such as green hydrogen, climate financing, and the services sector in Gujarat were deliberated upon by Vice-President and COO of the New Development Bank, Vladimir Kazbekov

Jan 12, 2024

Equitas SFB Celebrates Success Of Women Entrepreneurs’ Soaring Aspirations

The small finance bank celebrates women entrepreneurs' resilient spirit and success in Uttarayan 2024 through its new Circle of Life video

Jan 12, 2024

SBI Launches Green Rupee Term Deposit

This unique deposit scheme is open to Resident Individuals, Non-Individuals, and NRI Customers

Jan 12, 2024

Conference For Heads Of Assurance Functions Of SCBs Held

The theme of the Conference was 'Resilient Financial System – Role of Effective Assurance Functions'

Jan 12, 2024

Shaping Future of Financial Institutions: India Banking Conclave

Luminaries, experts, and visionaries are gathering as part of India Banking Conclave 2024 in New Delhi to chart a transformative course for India's financial institutions

Jan 12, 2024

India-Japan Fund to invest Rs4 Bn in MLMML

IJF is a Rs4900 Crore (USD 600 Million) fund, with Japan Bank of International Cooperation ("JBIC") and Government of India as anchor investors

Jan 11, 2024

FIDC Aims To Enhance Impact & Income Of NBFCs

FIDC Issues Vision Document & Code of Conduct For Its Members

Jan 11, 2024

Jocata Sumpoorn Index Shows Slow MSME Sales Growth

ECLGS loans' overall GNPA rose to 6.5% in Sep 2023 from 5.5% in Mar 2023, with services and trade loans accounting nearly half of total delinquencies

Jan 11, 2024

BoB: Fastest To Issue 1,000 Electronic BGs On NeSL Platform

Having introduced issuance of Electronic Bank Guarantee in May 2023, the Bank of Baroda achieved this milestone within 8 months of its launch

Jan 10, 2024

82% MSMEs To Harness Power Of Online Tools In 2024

91% MSMEs expect their profits to increase in 2024 supported by government initiatives & a resilient economy: by NeoGrowth Study

Jan 10, 2024

On Macro Front, US Consumer Credit Data Has Picked Up

Sensex is trading lower today, in line with other Asian stock

Jan 10, 2024

BLS E-Services & Kotak Mahindra Bank Spearhead FI in Initiative

The Master 1 Business Correspondent Agreement, inked for an initial three-year term and extendable for an additional year, marks a pivotal moment in the quest to broaden financial access throughout India

Jan 09, 2024

IndusInd Bank’s Samman RuPay Credit Card for Govt Employees

Combining UPI flexibility with exclusive benefits for a seamless banking experience

Jan 09, 2024

India’s 10Y yield could see some downward bias going forward

On domestic front, Bloomberg Index proposed to include Indian bonds (FAR) to be part of the EM local currency Index from Sep'24, which would support more flows

Jan 09, 2024

5 Coop Banks Penalized

These actions on 5 coop banks are based on deficiencies in regulatory compliance

Jan 09, 2024

Customers Can Book Ujjivan SFB’s FD On Digital Assets Of Bajaj Markets

Bajaj Markets partners with Ujjivan Small Finance Bank to offer attractive interest on fixed deposits

Jan 08, 2024

Fino Payments Bank Has Applied For ‘On Tap’ Licensing Of SFB

Major changes done in the earlier Guidelines on Small Finance Banks

Jan 08, 2024

AU SFB Launches Swadesh Account For Rural, Semi-Urban Customers

AU Swadesh Current Account provides complete flexibility in terms of balance maintenance and monthly transactions taking into account the seasonality of business cycles

Jan 08, 2024

INR is trading further stronger today

On domestic front, Rabi sowing data remained a cause of concern.

Jan 08, 2024

Demand Side Pull Of Inflation Does Not Seem To Be Much Of A Concern Now

7 out of 20 commodities have registered softening of prices

Jan 06, 2024

For FY25, Strong Economy, Buoyant Tax Revenues Will Let Govt Reduce Fiscal Deficit By 40-50 Bps

GDP GROWTH UPGRADES TO 7.3% FOR FY24 (SBI:7.2%): PER CAPITA INCOME GROWTH AT 6.4%

Jan 05, 2024

RBI’s Move Hit Growth Of Securitisation Volumes

Securitisation volumes witness modest decline; estimated at Rs380 Bn in Q3 FY2024 compared to Rs460 Bn in Q2 FY2024

Jan 05, 2024

5 Coop Banks Penalized

These actions on 5 coop banks are based on deficiencies in regulatory compliance

Jan 05, 2024

Sensex is trading higher today in line with other Asian indices

Markit PMI data shows that services sector activity continued to expand in Dec'23 at faster pace in the US and UK, while it remained in contraction in Eurozone (led by France and Germany)

Jan 05, 2024

INR is trading weaker today, while other Asian currencies are trading mixed

The JOLTS survey shows that job opening in Nov'23 fell by 62k to 8.79mn from 8.8mn, dropping to lowest levels since Mar'21

Jan 04, 2024

Bajaj Finance’s Digital FD @8.85%

Depositors below 60 years can earn up to 8.60 per cent per annum for a tenure of 42 months for FDs

Jan 04, 2024

Market Share Of Gold-Loan NBFCs Steady Despite Bank Competition

Overall credit profiles seen stable supported by strong profitability and low credit costs

Jan 04, 2024

REC to Finance Rail Infra Projects of Rs350 Bn

REC signs MoU with Rail Vikas Nigam to Finance Multi-Modal Projects over next 5 Years

Jan 03, 2024

Draft Circular On Declaration Of Dividend Released

RBI releases draft circular on declaration of dividend by banks and remittance of profits to Head Office by foreign bank branches in India

Jan 03, 2024

Global Manufacturing PMI Fell To 49 In Dec’2

In Asia, conditions seem to be slightly better

Jan 03, 2024

BoB’s RuPay Prepaid Card To Pay For Public Transport, Tolls & Shopping

The card can be availed by both customers and non-customers at Bank of Baroda branches, and will be immediately activated for real-time use

Jan 02, 2024

DCB Bank’s Savings Account with Cashback Rewards for UPI Transactions

Happy Savings Account holders can receive cashback up to INR 7,500 per year on eligible UPI transactions

Jan 02, 2024

BoI’s Attractive FD Rate For Rs 2 Cr & Above

The Super Special Fixed Deposit offers a very lucrative rate of 7.50% p.a. for 175 days, which is high yielding avenue for HNIs & Corporates

Jan 02, 2024

Asian Indices Started The Year On A Mixed Note

Sensex is trading lower today, while Asian markets are trading mixed

Jan 02, 2024

Bulk Deposits limit for SUCBs Up in Tier 3 and 4 to Rs 1 Cr

RBI Reviews Instructions on Bulk Deposits for UCBs

Jan 02, 2024

NEDFi disburses Rs5.47 Bn in NE

NEDFi assists grass-root small borrowers in unserved and underserved areas of the NE Region through “NEDFi Micro Finance Scheme”

Jan 01, 2024

License Of Faiz Mercantile Cooperative Bank Canceled

The bank does not have adequate capital and earning prospects

Jan 01, 2024

How transmission of interest rates has fared on deposits and lending sides of PSBs and PVBs?

For PVBs the increase on fresh deposits was lower 195 bps and that on loans was 154 bps

Jan 01, 2024

Sensex is trading lower today

China’s official PMI data reflects that contraction in manufacturing activity deepened in Dec’23, while non-manufacturing activity improved

Jan 01, 2024

Focus On Cybersecurity, Prevent Large Corporate Frauds & Wilful Defaults: FM

NARCL and PSBs should expedite on-boarding of stressed accounts; Coordination between banks, security agencies, regulatory bodies and technology experts will create a more resilient financial ecosystem: Nirmala Sitharaman

Dec 31, 2023

Why There Is Liquidity Deficit In System?

Excluding the impact of HDFC merger, deposits have risen by Rs 16.2 lakh crore (+9%) in FYTD24 so far

Dec 30, 2023

Personal Loans Growth Decelerated To 18.6% Y/Y

Sectoral Deployment of Bank Credit – November 2023

Dec 30, 2023

License Of Musiri UCB Canceled

The bank does not have adequate capital and earning prospects

Dec 30, 2023

WALR On Fresh Rupee Loans Of SCBs Stood At 9.34%

The weighted average domestic term deposit rate (WADTDR) on fresh rupee term deposits of SCBs moved to 6.34 per cent in November 2023

Dec 30, 2023

Botad Peoples Coop Bank allowed to function as NBFC

RBI cancels the license granted to The Botad UCB

Dec 30, 2023

License Of Adarsh Mahila UCB Canceled

The Commissioner and Registrar of Cooperative Societies, Maharashtra has also been requested to issue an order for winding up the bank and appoint a liquidator for the bank

Dec 30, 2023

Cooperatives' A/C Must Be In Coop Bank Only

Cooperation Minister: New Coop Policy To Be Implemented Soon Across the country; Modi government is spending about Rs25 Billion for computerization of PACS

Dec 29, 2023

Sensex is trading lower today in line with other Asian stocks

Traders are entering 2024 with a thoroughly dovish rhetoric, at least in case of Fed. Expectations are that the reverberation will be felt across major central banks, sooner or later. Hang Seng rose the most, followed by Shanghai Comp

Dec 29, 2023

GNPA and NNPA ratios of UCBs increased in H1’23-24

Maharashtra and Gujarat accounted for 80 per cent of the total 153 mergers since 2004-05; The number of UCBs in Tier 2 and Tier 3 cohorts is large and the impact of credit default risk is higher than other types of risk for both these cohorts; UCBs in the small-sized cohort (i.e., Tier 1) would pass all stress tests, except one bank which fails in the liquidity stress test

Dec 29, 2023

BoB’s FD Interest Rates Increased by up to 125 BPs

With a greater focus on shorter term tenors, the higher interest rates will benefit depositors, while at the same time, protecting NIMs, Depositors

Dec 29, 2023

International Liabilities Of Indian Banks Expanded In Double Digits In Last FY

At end-March 2023, PSBs accounted for 61.4 % of total deposits of SCBs and 57.9 %of total advances

Dec 28, 2023

RBI regulations will raise borrowing costs for NBFCs

The NBFC sector has experienced some hurdles due to rising interest rates on account of the geo-political climate and recently with RBI regulations on risk weights

Dec 28, 2023

Bank Frauds Up Y/Y In H1’23-24

While the majority of the frauds in PSBs were related to advances, PVBs accounted for a majority of card/ internet and cash-related cases

Dec 28, 2023

Global stocks rallied amidst strengthening expectations of Fed rate cuts

Sensex is trading higher today while Asian stocks are trading mixed

Dec 28, 2023

Rs21.6 Tn: Coop Banks’ Consolidated Assets at March 2022 were 10% of that of SCBs

REs within the co-operative banking sector have been allowed to enter into outsourcing arrangements with lending service providers (LSPs) and digital lending platforms to imbue more flexibility into their business operations

Dec 28, 2023

Asset Quality Of NBFC Improved In H1, Banks' GNPA Ratio 3.2%

capital buffers and profitability of UCBs improved through 2022-23 and Q1:2023-24

Dec 27, 2023

RBL Bank goes live on GST portal

This service will enable RBL Bank customers to make GST and direct tax payments seamlessly via various digital channels and RBL Bank branches

Dec 27, 2023

Expectations Of Easing Financial Conditions In The US Boosted S&P 500

INR is trading further weaker today, while other Asian currencies are trading mixed

Dec 27, 2023

Power Of AI/ ML & Data-Based Models Will Drive MSME Lending

This year saw a healthy MSME credit demand, with FMCG and retail, Consumer Durables and Apparel being the key segments

Dec 26, 2023

Global currencies traded in tight ranges

Global equity markets refrained from holding any major positions in the holiday truncated week

Dec 26, 2023

Equitas SFB’s ‘Circle of Life’ Campaign Supporting Farmers this Christmas

The bank showcases Kamatchi's perseverance to resurrect his passion towards agriculture ahead of National Farmers Day aka Kisan Diwas

Dec 25, 2023

‘Pandemic Fund’s Half-a-Billion-$ Envelope

Eligible countries can submit proposals through May 17, 2024 for the Fund, hosted by the World Bank

Dec 23, 2023

Dr. Sumitha Of Manappuram Finance, Gets Jury Special Award

The awards were distributed during the 3rd Women Director's Conclave 2023 organised by MentorMyBoard

Dec 23, 2023

SIDBI's Grant To ETO Motors For 300 EVs

ETO Motors manages over 1,500 E3Ws (Passenger + Cargo) and has over 1,500+ drivers, including 200 women drivers

Dec 22, 2023

Barring FTSE And Nikkei, Other Global Indices Closed Higher

The focus will now turn towards upcoming PCE report to offer more guidance on inflation movement

Dec 22, 2023

SBI Ladies' club celebrates Christmas with underprivileged children

The SBI Ladies' Club Mumbai is committed to making a positive impact on the lives of those less fortunate, especially during the holiday season

Dec 22, 2023

BoB Raises Rs25 Bn Via Tier II Bonds

These bonds are Unsecured, Listed, Rated, Subordinated, Non-Convertible, Taxable, Redeemable having a tenor of 10 years from deemed date of allotment with a 5-year call option.

Dec 22, 2023

Markets In Japan, UK And Hong Kong Ended Higher And Others Ended In Red

Barring JPY (higher) and INR (flat), other global currencies ended lower against the dollar

Dec 21, 2023

India No. 1 remittance recipient country: WB

The United States continued to be the largest source of remittances. The top 5 remittance recipient countries in 2023 are India ($125 billion), Mexico ($67 billion), China ($50 billion), the Philippines ($40 billion), and Egypt ($24 billion)

Dec 20, 2023

Except Hang Seng, other global indices ended higher

Global yields closed mixed, with 10Y yields in US and China ending flat, and falling across Germany and Japan

Dec 20, 2023

EMI cards remain popular medium of credit

WhatsApp is an emerging digital channel for loan with 59% of borrowers having received loan messages on WhatsApp; reflects Home Credit India's How India Borrows Survey 2023

Dec 19, 2023

Students Empowerd With Bob BRO Savings Account

BOB teams up with IIT Bombay's Mood Indigo, Asia's largest college festival, as the Exclusive Banking Partner, to promote bob BRO

Dec 18, 2023

CitiDirect Document Center launched in India

The service is designed to digitize supporting documents and streamline and simplify relevant processes to facilitate cross-border transactions

Dec 18, 2023

ED provisionally attaches property of Rs1.93 Bn in JK STCB case

The fraud involved sanctioning of loan of Rs250 Cr in 2019 to a fake cooperative society by the then Chairman of JKSTCB & Others

Dec 18, 2023

IndusInd Bank’s community program for Diamond Cohorts

In alignment with the launch of 'Indus Solitaire Program', Bank also inaugurated its flagship branch at Surat Diamond Bourse

Dec 15, 2023

Women Empowerment is a sine qua non for Economic Development

Women voters will outstrip men from 2029 onwards and almost at par in 2024

Dec 15, 2023

Thane Janata UCB issues Rs9 Cr DD to NUCFDC

TJSB Chairman Sharad Gangal handed over the demand draft to NUCFDC CEO Atul Khirwadkar

Dec 14, 2023

Poonawalla HFC is now Grihum HFC

IT expects AUM and PAT to double in the next three years, Registers a 7x growth in customer base nationwide in 6 years

Dec 14, 2023

Capri Global Capital Receives Corporate Agency License From IRDAI

CGCL aims to leverage its robust branch network^ in the North and West India to cross-sell insurance products

Dec 12, 2023

India’s 10Y yield is trading at 7.28% today

The Fed, BoE, ECB and BoJ are scheduled to meet this week, but no rate action is expected

Dec 12, 2023

Bank of India Starts Nari Shakti Savings Account

The Nari Shakti Savings Account can be opened at all 5132 domestic branches and also through digital platforms

Dec 11, 2023

RBI policy: Creating Right Expectations

Even if the RBI resort to OMO sales, we see the probability of it only in February 2024

Dec 09, 2023

Liquidity Measures Will Facilitate Better Fund Management By Banks

Read comments on RBI policy from Dinesh Khara, Chairman, SBI; Saikrishnan Srinivasan, MD, Experian Credit Information Company of India; Girish Kousgi, MD&CEO PNB Housing Finance; Achala Jethmalani, Economist at RBL Bank; Anurag Mittal, Head of Fixed Income, UTI AMC; ASSOCHAM Secretary General Deepak Sood; Bhuvan Rustagi, COO and Co-Founder, Per Annum & Lendbox; Kanav Kalia, Chief Sales and Marketing Officer, Oxane Partners; and Vijay Kuppa, CEO, InCred Money:

Dec 09, 2023

“We Were Getting Contrary Signals From The Market On Rural Demand”

Given the importance placed by MPC on inflation, it looks unlikely that there can be a rate cut before August of next year

Dec 08, 2023

A Gung Ho Policy

First rate cut is now pushed back to second half of calendar 2024, August 2024 could be the earliest one

Dec 08, 2023

RBI's balanced approach in the current economic climate

RBI's vigilance on lending and loan growth is in the right spirit to guide NBFCs to further enhance customer centricity: Rajiv Sabharwal

Dec 08, 2023

ISFC To Double Branches In 4 Years, Leverage Tech Stack For scalability

Rupinder Singh, Managing Director and Chief Executive Officer, talks about the growth journey of the affordable segment focused HFC

Dec 08, 2023

IDFC FIRST Bank Changes Credit Card Transaction Game

IDFC FIRST Bank Launches Digital Credit Cards on RuPay platform

Dec 07, 2023

After climbing to a record high, Sensex is trading lower today

Labour market in the US is continuing to show signs of loosening, as ADP data shows that private payrolls were up by only 103k in Nov'23

Dec 07, 2023

After climbing to a record high, Sensex is trading lower today

Labour market in the US is continuing to show signs of loosening, as ADP data shows that private payrolls were up by only 103k in Nov'23

Dec 07, 2023

PNB HFC’s Rs10 Bn Affordable Loan Book

Reached this milestone in less than a year of the launch of 'Roshni Home Loans'

Dec 06, 2023

Unity SFB Increases Interest on Savings Account

Additional slab offers 7.75% p.a. on savings accounts for deposits greater than Rs5 crores

Dec 06, 2023

RBI will be able to reduce rates in August 2024

Hawkish hold expected, Liquidity actions turn crucial

Dec 06, 2023

Sensex trading higher today in line with other Asian stocks

Hang Seng and Shanghai Comp declined sharply after rating agency downgraded China's credit outlook. Sensex advanced to a new high supported by gains in power, consumer durable and banking stocks

Dec 06, 2023

NPCI Bharat BillPay Onboards SBI Card

The other major credit card issuers live under this category are Kotak Mahindra Bank, BoB Financial, Federal Bank, AU Small Finance Bank, IndusInd Bank, and Canara Bank

Dec 05, 2023

UBI Collaborates with Accenture to Accelerate Data-Driven Transformation

This will boost the bank's operational efficiency and enhance its ability to offer customer-centric banking services and manage risk

Dec 05, 2023

IIFL Samasta to Raise up to Rs10 Bn via Bonds

The leading NBFC-MFI Offers Up to 10.50% Coupon Rate

Dec 04, 2023

Sensex Is Trading Higher Today, While Asian Stocks Are Mixed

There are signs of a slowdown in the housing market as well, with US pending home sales dropping to its lowest in over 20 year

Dec 04, 2023

Gold is the new stable multi-bagger: Liquidity management needs unconventional tools

Markets destined for 'Interesting Times' in 2024; Domestic Economy nearing Tipping Point to embrace next wave of growth

Dec 04, 2023

INR Expected to trade In Range Of 83-83.5/$ For Next Fortnight

While most global currencies have gained from this, the performance of INR has been underwhelming

Dec 04, 2023

India’s 10Y Yield likely to be in range of 7.25-7.35% in Dec’23

Bonds Wrap

Dec 04, 2023

Growth In Real GDP: India Outperforms Major Countries

The data lent support to the narrative that India is the fastest growing economy in the world

Dec 02, 2023

Growth In Real GDP: India Outperforms Major Countries

The data lent support to the narrative that India is the fastest growing economy in the world

Dec 02, 2023

BoB Raises Rs50 Bn via Infra, Affordable Housing Bonds

The Bank received total bids of Rs10,350 crore

Dec 01, 2023

SBM Bank India’s FD rate up

Offers special anniversary rate of interest on deposits and slashes processing fee on certain categories of advances for a limited period

Dec 01, 2023

Clix Capital’s PAT Up By 200%

H1 FY24 Revenue at INR 458 crores; an increase of 40% YoY; Total AUM clocked INR 5016 crore, an increase of 26% YoY

Dec 01, 2023

Services sector growth waning

India GDP: Growth remains resilient

Dec 01, 2023

BOB Parivar Account For Savings, CAs

'My Family, My Bank' brings together a family's entire banking relationship with the Bank, doing away with the need to maintain minimum balance for each account and enabling all family members to enjoy attractive benefits

Dec 01, 2023

Millennia 2023's 200 Self-Made Entrepreneurs

First edition of 'IDFC FIRST Private Hurun India' is a list of the 200 most valuable companies in India founded after the year 2000

Nov 30, 2023

Godrej Capital Nirmaan to aid MSMEs with DBS Bank, Visa, Amazon

13 partners have been onboarded to offer business solutions with added benefits to MSMEs pan-India

Nov 30, 2023

$543 Bn in retail investor capital could be mobilized to combat climate change by 2030

96% of investors in India are interested in climate investing, the highest among all markets surveyed

Nov 30, 2023

Sensex is trading higher today, in line with Asian stocks

In the Eurozone, inflation in both Germany and Spain eased significantly, led by a drop in energy prices.

Nov 30, 2023

54% Banking CEOs Focus On Capital Investment In New Tech

The single largest risk identified by 79% of banking CEOs is the cost of living, reflecting the impact on customers and workforces, leading to stalled borrowing and investing volumes and significant wage inflation; KPMG releases 2023 Banking CEO Outlook Report

Nov 29, 2023

Reserve Bank of New Zealand suggested more hikes

INR too recovered from a record-low, despite higher oil prices. It is trading further stronger today, in line with other Asian currencies

Nov 29, 2023

DBS Bank-H&M Group collaborate for climate action

They have initiated a collaborative finance tool – a first-of-its-kind green loan program that facilitates supply chain decarbonisation in the apparel sector

Nov 28, 2023

India’s 10Y yield is trading a tad lower at 7.26% today

Weaker macros in the US and commentary by ECB President on softer economic activity, also impacted sentiments

Nov 28, 2023

Indel Money’s Q2 Net Profit up by 127%

The company is planning Tranche IV of Rs200 crore NCD in Q4 of the current financial year

Nov 27, 2023

Bank of India to spread awareness on eye care measures

An informative session was conducted by renowned eye specialist Dr. Smit Bavaria from Dr. Agarwals Eye Hospital to raise awareness among employees about eye care measures

Nov 27, 2023

Has capacity utilization for India Inc. improved in H1?

A way of looking at capacity utilization in the economy is through the lens of ratio of turnover to fixed assets ratio of India Inc. especially for the non-financial sector

Nov 24, 2023

India’s 10Y yield is trading further higher today at 7.27%

Sensex is trading flat today, while other Asian indices are trading mixed

Nov 24, 2023

RBI has no policy of closing down small coop banks or restricting them: Marathe

Alka Petkar said that cyber security will be one of the biggest challenges faced by cooperative banks

Nov 23, 2023

Sensex trading higher today, while other Asian indices are trading mixed

FTSE slipped for the 3rd straight session led by fall in energy stocks amidst a drop in oil prices

Nov 23, 2023

Power Of Digital Transactions: Currency In Circulation Falls In Diwali Week

Over the years, the Indian cash lead economy now has changed to smart-phone lead payment economy chart SBI 23 Nov

Nov 23, 2023

INR is trading higher today

Other Asian currencies are trading mixed

Nov 22, 2023

Corporate Margin Shows Sign Of Distinct Improvement Since Q4FY23

US elections are due in November 2024 and thus the Democrats may not be comfortable with a slowing economy before elections and hence a frontloaded slowdown looks more imminent

Nov 22, 2023

Winning In Uncertain Times: Shaktikanta’s Inaugural Address At FIBAC

This conference of industry stalwarts and global thought leaders will highlight some of the key emerging issues related to the banking industry. Key success strategies will be discussed and a roadmap for the future of the Indian banking industry will be laid out

Nov 21, 2023

Sensex trading higher today, in line with other Asian indices

Sensex trading higher today, in line with other Asian indices

Nov 21, 2023

India’s 10Y is trading tad higher today at 7.23%

In UK, retail sales weakened and slid by 0.3% in Oct'23 (MoM basis) far lower than expected and ex-petrol, the sales volume were down by 0.1%.

Nov 20, 2023

6th edition of ‘Baroda Kisan Pakhwada inaugurated

The Bank Aims To Reach Out To 4 Lakh Farmers During The Kisan Pakhwada

Nov 18, 2023

Satish Marathe will participate in Janata Sahakari Bank's Jubilee Program

Janata Sahakari Bank's ‘Cooperative Week’ is now underway

Nov 17, 2023

Poonawalla Fincorp`s clarification on RBI Circular on consumer credit

Poonawalla Fincorp`s statement: Based on our initial calculations, the increase in the risk weight from 100% to 125% on the Company's consumer credit exposure shall be marginal and is expected to be around 220 bps.

Nov 17, 2023

Women Entrepreneurs’ Participation Essential to Be A 30 Tn-Dollar Economy: Hardika

Hardika Shah: Empowering India's MSME Women Entrepreneurs with Access to Formal Credit can lead to a 16% rise in proprietor income

Nov 17, 2023

RBL Bank’s healthcare vans for support staff

CSR initiative, Dhanvantri, to foster healthy lifestyle and overall well-being

Nov 17, 2023

Fed Officials And ECB President All Are Hinting At Risks Of Overtightening

US jobless claims rose to a 3month high for the week ending 11 Nov

Nov 17, 2023

Equitas SFB’s Hospital Offers Affordable Cancer Care

This hospital is a step towards bridging the gap and providing life-saving treatment particularly to patients from underprivileged segments

Nov 17, 2023

INR is trading lower today, in line with other Asian currencies

Global indices closed higher, with Hang Seng and Nikkei registering maximum gains

Nov 16, 2023

CAD is expected at USD 59 bn, with CAD/GDP at 1.7%

The supply-demand mismatch continues to be the major factor driving the crude oil prices

Nov 16, 2023

How FPI flows have moved?

Going ahead with some correction in US 10Y yield, some reversal in the trend may be expected

Nov 15, 2023

Federal Bank’s UPI Lite for Small-Value Digital Payments

Benefits of UPI Lite for Customers include reduction in transaction time, a ready to access bank statement, higher payment success rate and enhanced security

Nov 15, 2023

Sensex has opened higher in line with other Asian markets

China's macro data has also boosted investor sentiments

Nov 15, 2023

India’s labour market: Self-entrepreneurship across all echelons

Female Labour Force Participation Rate increased across states

Nov 14, 2023

Bank of Baroda increases One Year MCLR to 8.75%

Bank of Baroda keeps Overnight MCLR unchanged

Nov 11, 2023

Growth for cash withdrawal continues to fall

Some of the high frequency indicators have been signaling resilience in domestic demand as has been reflected by pickup in digital payments, power demand and even in electronic imports

Nov 10, 2023

Suryoday SFB’s PAT up by 284%

The bank has 25.1 lakh customers, an increase of 20% y/y

Nov 10, 2023

Sensex opened lower today in line with other Asian stocks

Better than expected initial jobless claims data of the US and hawkish commentary from Fed Chair Powell, pushed treasury yields higher and equity markets lower

Nov 10, 2023

SIDBI to support capacity enhancement of women entrepreneurs

SIDBI and DAY-NRLM SIDBI sign of MOU that marks a significant milestone in journey of women-led enterprises

Nov 10, 2023

Muthoot Finance’s H1 PAT up by 24%

Historic Highest Growth in Loan Assets of Rs11,771 crores in H1FY24, up by 21% YoY

Nov 09, 2023

IndusInd Bank's Loan Mela for 2-Wheelers with OEMs

Scheduled to run until November 30th, 2023, the 'Loan Mela' allows customers ample time to benefit from these exclusive offerings

Nov 09, 2023

SBM Bank India’s Festive FD @ 8.25%

This offer is applicable for amounts less than INR 2 Crore, for both Callable and Non-Callable FDs

Nov 09, 2023

CAPITAL SFB’s Q2 net profit up by 32 %

Total Business (advances and deposits) increased to Rs12,866 crore in HY1-FY 2024; ROE and ROA has increased to 16.45% and 1.29% respectively

Nov 09, 2023

Sensex opened flat today while other Asian stocks are trading higher

Deflationary pressures in China continue to persist

Nov 09, 2023

PNB launches Digital Gold Loan

The bank celebrated a one-day Digital Mahotsav at its Head Office

Nov 08, 2023

>80% of biz leaders confident in globalisation & trade

In partnership with Bloomberg Media Studios, the Standard Chartered's research surveyed business leaders across 20 markets in Africa, Asia, Europe, the Middle East, and North America

Nov 08, 2023

Central banks hint at end of rate hike cycles

BoE's chief economist has stirred hopes of rate cuts from next summer

Nov 08, 2023

Standard Chartered Bank drives SCF for Tata Motors’ EV dealers

Tata Motors has been dominating the Indian EV market commanding a market share of over 73%

Nov 06, 2023

PNB HFC inaugurates all-women branch in TN

The HFC aims to add 60 more branches by the end of this financial year, taking the total number of affordable branches to 160

Nov 06, 2023

IndusInd Bank’s Anthem Companion in World Cup

With the ICC partnership, IndusInd Bank leverages seamless integration across various marketing channels, including social media

Nov 06, 2023

Sensex is trading further higher today, in line with other Asian stocks

In Australia and UK, service sector contracted at a slower pace in Oct'23

Nov 06, 2023

BoI’s Q2 net profit up by 52%

BoI's Internet Banking users Increased to 8.66 million in Sep'23 from 8.28 million in Sep'22

Nov 04, 2023

SBI to issue Electoral Bonds

The Electoral Bond deposited by an eligible Political Party in its account shall be credited on the same day

Nov 04, 2023

Major price hike not likely with fresh arrival of harvest

BoB Essential Commodity Index (BoB ECI) has edged down to 2.4% in Oct'23

Nov 04, 2023

BoB’s Q2 net profit up by 28.4% at Rs42.53 Bn

BOB has delivered ROA of more than 1% and ROE around 20%, consistently for last 5 quarters

Nov 04, 2023

SBI’s net profit grew by 8% at Rs143 Bn

Share of SBI's Alternate Channels in total transactions increased to 97.7% in H1FY24

Nov 04, 2023

PNB’s 'Deepawali Dhamaka 2023

Customers can now avail home loans at a reduced rate of 8.40%

Nov 04, 2023

Punjab & Sind Bank’s PAT at Rs1.89 Bn

Punjab & Sind Bank has successfully upgraded its CBS to the latest version of Finacle 10.2.25.

Nov 04, 2023

IndusInd Bank starts NRI Homecoming festival

The lender has been facilitating a seamless NRI Digital Account Opening platform

Nov 03, 2023

Capri Global aims Rs100 Bn of disbursement by FY 23-24

The company has disbursed INR 5700 crore in car loan vertical in FY 22-23

Nov 02, 2023

Investors monitored Fed statement to assess future trajectory of rates

INR continued to trade in a narrow range, but is trading stronger today

Nov 02, 2023

Home Credit India unveils Diwali campaign

The new AV is LIVE across digital platforms including Home Credit India's social channels

Nov 02, 2023

Fino Payments Bank's PAT up 42%

Fino Payments Bank's 15th consecutive profitable quarter

Nov 01, 2023

Capri Global Capital ‘s Q2 PAT up 16%

After a lean Q1FY24, disbursals in Q2FY24 increased in a robust manner to touch Rs35,267mn, up 128% YoY and 31% QoQ

Nov 01, 2023

REC’S highest ever quarterly profit at Rs.37.73 Bn

The loan book has maintained its growth trajectory and has increased by 20% to Rs. 4.74 lakh crore

Nov 01, 2023

80% retailers Do not see e-commerce as a threat: NeoGrowth study

7 in 10 retailers plan to increase their physical presence in future

Nov 01, 2023

Mahindra Finance to co-lend with SBI

Partnership to unlock the potential of Priority Sector Lending (PSL)

Nov 01, 2023

CCI approves minority investment in SK Finance

India Business Excellence Fund – IV is a sector-agnostic fund, providing growth capital to mid-sized companies

Nov 01, 2023

only 1 Maharatna PSE in Top 10 profitable companies in FY23

SBI and LIC way more than Maharatna CPSEs contributing 37% of India's GDP

Oct 31, 2023

Yen weakened slightly

Except Japan, stock markets elsewhere ended in green

Oct 31, 2023

Satin Creditcare to leverage MediBuddy's healthcare platform

They will provide support to underserved communities of rural India

Oct 31, 2023

Strategic merger of 2 strong, well-run SFBs

Sanjay Agarwal: This is not just a merger of two entities, its a union of shared values, common goals, and a vision for the future. Financial Inclusion powerhouse in the making

Oct 30, 2023

NeoGrowth’s strong performance in Q2 FY24

AUM up by 49% to INR 22.98 Bn with double-digit Return on Equity

Oct 30, 2023

amalgamation of Fincare SFB into and with AU SFB

The share exchange ratio for the amalgamation of the Transferor Company into and with the Transferee Company shall be 579 (Five Hundred Seventy Nine) equity shares of face value of Rs10/- each of the Transferee Company for every 2,000 (Two Thousand) equity shares of face value of Rs10/- each of the Transferor Company

Oct 30, 2023

Jagriti G20 Startup20 2023 for Green Entrepreneurship

SIDBI is supporting a unique entrepreneurship train journey across India

Oct 29, 2023

MS Dhoni now SBI’s Brand Ambassador

Dinesh Khara: "Dhoni’s association with SBI as a satisfied customer makes him a perfect embodiment of our brand's ethos.”

Oct 29, 2023

IDFC FIRST Bank’s Q2 PAT up 35%

Provisions increased 25% YOY from Rs424 crore in Q2-FY23 to Rs528 crore in Q2-FY24

Oct 28, 2023

TVS Credit’s H1 PAT at Rs2.52 Bn

The Company added 20 Lakh new customers during H1 FY24

Oct 28, 2023

RBI reviews instructions on bulk deposits for RRBs

"Bulk Deposit" for Regional Rural Banks would now mean Single Rupee term deposits of Rupees one crore and above

Oct 28, 2023

Strong Q2 for Satin Group, clocking Rs100 Bn AUM

Q2FY24 PAT up 87% YoY to Rs1.07 Bn

Oct 28, 2023

Union Bank of India’s Q2 net profit up by 90%

Bank's total Business atRs19,84,842 Cr as on September 30, 2023

Oct 28, 2023

IOB’s Q2 net profit up @ Rs6.25Bn

Net NPA reduced to Rs1,364 Crores i.e., 0.68% for quarter ended 30th September 2023

Oct 27, 2023

TMB’s PAT up at Rs2.74 Bn

Book value of share has increased to ?466 from ?408 Y-o-Y

Oct 27, 2023

BFL’s Q2 PAT up by 28%

BAGIC recorded market-leading growth in gross written premium of 53%

Oct 27, 2023

bob LITE Savings Account

The Lifetime Zero Balance Savings Account comes loaded with offers during the festive season

Oct 27, 2023

UGRO Capital’s PAT up 329%

Its proprietary underwriting model, GRO Score 3.0 has demonstrated its efficacy

Oct 27, 2023

INR is trading further weaker today

Tokyo's core consumer inflation (ex food) rose more than anticipated to 2.7% (ext: 2.5%) in Oct'23 ahead of BoJ's rate decision scheduled next week.

Oct 27, 2023

PNB’s net profit up by 327%

PNB' YouTube followers up by 64% Y/y

Oct 27, 2023

Minimum amount for non-callable TDs may be increased to Rs1 Cr

All TDs up to Rs1 Cr shall have premature-withdrawal-facility

Oct 27, 2023

Canara Bank’s Net Profit up by 43%

Global Business of the bank increased by 10.12% y/y to ?21.56 Trillion

Oct 27, 2023

Pickup in output expected with rice, sugarcane registering improvement

Projection of Kharif output:2023-24

Oct 26, 2023

Federal Bank-Avanti Finance will co-lend

Partnership will serve rural unserved/underserved borrowers in more than 20 states

Oct 26, 2023

RBIO partners Bajaj Finance

Partnership also with Bajaj Auto to create awareness on Financial Literacy, RBIOS and Fraud

Oct 26, 2023

INR is trading weaker today, in line with other Asian currencies

10Y yields in UK and Germany inched up by 7bps and 6bps respectively

Oct 26, 2023

Zuzar Tinwalla is Standard Chartered’s CTOO

He will be a member of the TTO Asia Management Team

Oct 26, 2023

SBI organized workshop

SBI empowers district managers to expand Jansuraksha schemes at grassroots level

Oct 26, 2023

Gain in Hang Sang index led by a rally in tech stocks

INR is trading stronger today, in line with other Asian currencies after China announced more stimulus

Oct 25, 2023

IndusInd Bank & Viamericas’ Digi service to NRIs in USA

Indus Fast Remit (IFR) platform under the Rupee Drawing Arrangement (RDA) scheme of RBI

Oct 25, 2023

RBL Bank has over 5% market share of Cards in Force

tighter control on new bookings resulting in delinquencies in line with industry

Oct 25, 2023

YES Bank processes 1 in 3 digital payment transaction

12 million queries and 400k service requests managed by Yes Robot and Whatsapp Banking

Oct 23, 2023

PNB HFC’s H1 PBT up by 47%

We have made significant progress in our affordable housing portfolio over last 3 quarters: Girish Kousgi

Oct 23, 2023

Asian currencies are trading mixed

INR appreciated supported by RBI intervention. It is trading weaker today; Fed survey: Higher rates likely for a longer period, Bob stocks graph

Oct 23, 2023

RBL Bank’s net profit grows 46%

Yet another quarter of improving operating performance

Oct 21, 2023

YES BANK’s Net Profit grows 47%

One of the highlights during Q2 included the launch of next gen mobile banking app 'iris by YES BANK': Prashant Kumar

Oct 21, 2023

How have interest costs responded to repo rate cycles?

There is still some room for upward movement in WALR

Oct 21, 2023

Retaining higher for longer

Our view is that any chance of a rate cut is pushed out to Q2FY25

Oct 21, 2023

Poonawalla Fincorp: PAT up 77%

Highest ever quarterly Profit After Tax

Oct 20, 2023

Joshi reviews progress of FI with PSBs, NABARD, SIDBI, NPCI

Special focus on promotion of digital payments

Oct 20, 2023

Credit Growth to drive GDP

SBI Research: Nothing unsecured about unsecured lending

Oct 20, 2023

Equitas SFB’s PAT for Q2 grows 70%

Bank's investments in technology/digitization continue to progress effectively, benefits of which should be felt in the upcoming years: Vasudevan

Oct 20, 2023

HFCs and COVID-19: Does Size Matter?

There has been disproportionate shock of COVID-19 on smaller HFCs

Oct 20, 2023

Faering Capital invests $30 mn in Vastu HFC

Mumbai, October 19, 2023: Vastu Housing Finance Corporation Limited

Oct 19, 2023

SBI strengthens its commitment to FI 

Supporting the Government's Jansuraksha campaign

Oct 19, 2023

Digital finance to contribute USD 950 billion to GDP by 2025: Choudhary

18th ASSOCHAM Annual Summit & Awards on Banking and Lending Companies

Oct 19, 2023

RBL Bank launches ‘GO Digital Savings Account’

Open a zero-balance account in minutes

Oct 19, 2023

Bank of India-REC to co-finance loans worth Rs300 Bn

The loan book of REC exceeds Rs4,54,393 cr

Oct 19, 2023

Q2 Net Profit of IndusInd Bank up by 22% YoY

Financial results for the Quarter/ Half Year ended September 30, 2023

Oct 18, 2023

USD/INR to trade in the range of 83-83.5$ in the near term

Fortnightly forex review

Oct 18, 2023

20% rise in business loans to MSMEs estimated in festive season: Kinara Capital

The rise has been most significant for short-term loans

Oct 17, 2023

HDFC Bank’s deposits grew to Rs. 21,72,858 Cr as of Q2, ’23-24

The consolidated profit after tax of the lender for the half year ended September 30, 2023 is up 40.9% y/y

Oct 17, 2023

Amalgamation of Suvikas Coop Bank with Kalupur UCB approved

RBI sanctioned the Scheme of Amalgamation

Oct 17, 2023

SIDBI & GAME launch cohort for smaller NBFCs to grow

NBFC Growth Accelerator Program (NGAP) is aimed to increase access to finance for micro enterprises

Oct 17, 2023

Bajaj Allianz Life Insurance-South Indian Bank enters into strategic partnership

Bajaj Allianz Life Insurance and South Indian Bank, announced their strategic partnership, today on 29 September, 2023.

Oct 16, 2023

Bank of India Launched its Upgraded Savings Accounts with Exciting Offers

Bank of India Launched its Upgraded Savings Accounts

Oct 16, 2023

Unsecured loans will drive NBFCs’ strong growth: ICRA

The NBFC-Retail asset under management (AUM), estimated at around Rs14 trillion as of March 2023, is expected to grow at a higher pace of 18-20% in FY2024, as growth in the unsecured loans segment, consisting of personal & consumption loans, unsecured small enterprise loans and microfinance loans, would remain strong, says ICRA report.

Oct 16, 2023

Bank of Baroda revises interest rates on FDs

Bank of Baroda (BoB), one of India’s leading public sector banks, has announced increase in interest rates on domestic retail term deposits, including NRO and NRE term deposits, by up to 50 basis points across various tenors up to 3 years.

Oct 16, 2023

Unity Bank hikes interest rates on FDs of 701 Days

Taking advantage of the high interest rate regime, Unity Small Finance Bank Limited (Unity Bank), a new age, digital first bank, has hiked its interest rates offered on Fixed Deposits kept for 701 Days.

Oct 16, 2023

Internal Ombudsman framework in a few institutions is way below the requirement Swaminathan J, Deputy Governor, Reserve Bank of India

He spoke recently at the Conference on Customer Service, held in Mumbai.

Oct 16, 2023

IBBI invites suggestions to simplify and reduce cost of compliance

The Insolvency and Bankruptcy Board of India (IBBI) has invited suggestions/comments from public and regulated entities, on the Regulations for simplifying, easing and reducing cost of compliance.

Oct 16, 2023

BOI-WDRA sign MoU to promote financing against e-NWR

To promote e-NWR (electronic Negotiable Warehouse Receipts) financing, Bank of India has joined hands with the Warehousing Development and Regulatory Authority (WDRA)

Oct 16, 2023

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