Credit

If you file an updated return later, you will have to pay interest and additional tax, and will not be able to claim refunds

RBI has proposed easing restrictions on operating Current, Cash Credit and Overdraft accounts, giving banks more flexibility in handling accounts of regulated borrowers

The country's biggest lender State Bank of India (SBI) on Saturday said it has signed a Line of Credit agreement of EUR 100 million with Agence Franaise de Dveloppement (AFD) at its GIFT City branch at Gandhinagar. The funds mobilised through this partnership will be utilised in climate mitigation actions aimed at reducing greenhouse gas emissions to slow down global warming and climate adaptation measures designed to adjust systems, practices, and infrastructure to minimise the damage caused by current or anticipated impacts of climate change, SBI said in a statement. By empowering these measures, this collaboration strives to further advance India's transition to a low-carbon economy while enhancing resilience to climate-related risks, it said. The partnership is a strategic step towards SBI's goal of achieving a green portfolio constituting 7.5-10 per cent of its domestic gross advances by 2030, it said. Additionally, it will also enable the bank to provide competitive financing

The federal finance ministry has proposed to provide 10-15 per cent credit guarantees to banks for advancing loans to stressed small businesses, with turnover up to ₹500 crore

Investors are becoming more discerning after a period of rapid growth in the sector, fueled by demand from insurance companies for investment-grade rated strategies

Industry representatives for business correspondents point out that there is pressure from banks to raise deposits, despite the fact that the BC channel has already overtaken branches in doing so

Jio Credit raises ₹1,030 crore via 3-year bonds at 7.08% cut-off yield, trims issue from ₹1,500 crore amid higher-than-expected rates; follows recent bond, CP issuances

The National Bank for Agriculture and Rural Development (Nabard) has acquired a 10 per cent stake in agri fintech startup 24x7 Moneyworks Consulting Pvt Ltd. This marks Nabard's first-ever investment in a bootstrapped startup, reinforcing its commitment to digital transformation in rural India, the apex rural credit institution said in a statement. 24x7 Moneyworks Consulting Pvt. Ltd's flagship platform, eKisanCredit (eKCC), is a fully digital loan origination system designed for Cooperative Banks, PACS and RRBs, it said. The eKCC platform integrates seamlessly with land records, Aadhaar, eKYC, core banking systems and ePACS, enabling end-to-end automation of the rural credit lifecycle, it said. Over the past two and half years, Nabard has piloted eKCC across various banks and the system is now ready for nation-wide roll-out, it said. "eKCC has demonstrated the potential to improve access, transparency, and efficiency in dispensing agricultural credit This strategic collaboration

Although non-food credit increased at a decelerating pace of 12 per cent year-on-year (Y-o-Y), compared to 16.3 per cent a year ago, according to the bulletin

MMRDA is the Maharashtra government agency responsible for preparing a regional infrastructure development plan for the MMR

A rise in defaults, particularly in small-ticket unsecured personal loans, prompted the Reserve Bank of India (RBI) to tighten lending norms

Consumption-led products are defined as credit cards, personal loans, and consumer durable loans

Founder Aditya Soni is very clear that he is not interested in selling financial products; instead, he is laser-focused on keeping customers' credit healthy

The impairment provision for financial instruments rose to Rs 751.9 crore in Q3FY25, up from Rs 126.2 crore in Q3FY24

CRED is a members-only app that allows users to make payments and manage credit cards. Happay is an expense management application

"As on September 30, 2024, the total debt discharged to creditors of the Respondent No 1 (IL&FS) Group aggregates to Rs 38,082 crore," the status report said

The Insolvency and Bankruptcy Board of India (IBBI) has proposed a voluntary mediation mechanism for operational creditors before filing insolvency applications under the IBC norms. The proposal aims to reduce the burden on the Adjudicating Authority (AA), thereby expediting admissions. The recommendation is based on an expert committee report and subsequent suggestions by the Indian Institute of Insolvency Professionals of ICAI (IIIPI). In a discussion paper released on Monday, the insolvency board proposed to introduce mediation as a preliminary step, providing operational creditors an avenue to settle disputes with corporate debtors over matters like contractual disagreements, quality issues, underpayment claims, and set-off demands. The insolvency board noted that in most of the operational creditors-initiated insolvency cases, they are more interested in repayment of money claims rather than admission or resolution of the corporate debtor. According to IBBI, as of April 2024,

The 50-50 joint venture will lend to businesses ranging from large companies to startups, the people said, asking not to be identified as the information is not public

India is a bright spot for private credit in Asia as Prime Minister Narendra Modi's ambitious growth targets and deregulation initiatives spur increased funding needs of local firms

Export-intensive segments vulnerable to global risks, warn rating agencies