Page 49 - Subrata Panda

HDFC Bank hikes MCLR by 10 bps across loan tenures, effective Sep 7

Second rate hike in two months by lender after RBI's rate setting committee hiked benchmark repo rate by 50 bps to 5.4%; new MCLR at 7.90-8.40%

Irdai set to meet insurance CEOs on dematerialisation of policies

This initiative was started by insurance regulator a few years ago, but did not take off as the operational challenges and associated cost for insurers outweighed customer convenience

Digital lending norms: Fintech firms seek clarity on RBI's FLDG stance

An FLDG is a lending model wherein a third-party guarantees to compensate up to a certain percentage of default in a loan portfolio of the regulated entity

HDFC Bank targets nearly Rs 1-trillion deposit mop-up every quarter

In the recent roadshows, the bank's management sounded confident of its ability to deliver both loan growth as well as deposit growth, a report by Macquarie Research said on Monday

Comply with digital lending norms for existing loans by Nov 30: RBI

Guidelines applicable to new and existing customers taking fresh loans

Growth in credit card spends is here to stay: Rama Mohan Rao Amara

Rama Mohan Rao Amara, MD & CEO, SBI Card spoke on the reasons behind record spends, the company's ideal run rate of issuance of credit cards, impact of RBI's discussion paper on payment charges.

ICICI Bank, Bandhan Bank, Karnataka Bank increase MCLR across tenors

Loan rates going up after central bank's rate-setting committee hiked benchmark policy rate by 50 basis points

UPI processes over 6.5 billion transactions in August worth Rs 10.72 trn

Thus far in FY23, UPI has recorded over 30 billion transactions worth Rs 51.74 trillion

Credit to industry hits 8-year high as corporations opt for bank funding

According to the latest Reserve Bank of India (RBI) data, loans to micro, small, medium, and large industries rose to Rs 31.82 trillion as of July end, up 10.5 per cent year-on-year (YoY).

HDFC Bank partly recoups market share in credit card spends lost to embargo

RBI data shows that the bank has 28.4% market share in spends as of July, up 190 bps since last August. Pre-embargo, its share was 30.67%

Credit card spends touch all-time high of Rs 1.16 trillion in July

Spends have topped Rs 1 trillion level for five consecutive months now

Freebies row: Poll promises should be met via budgetary provisions, says FM

Meanwhile, the apex court has asked a three-judge Bench to review a past order on the issue, which said that such handouts are not a corrupt practice

Cyber frauds: Banks step up efforts to promote safe banking habits

Apart from HDFC Bank's 'Vigil Aunty', a host of private sector general insurers also offer individual cyber insurance policies

Irdai's commission cap move: General insurers get operational flexibility

Mid-to-smaller life companies and standalone health insurers could face near term pressure

Regulator seeks to make insurers have clear policy for agents' commission

Boards will make written norms that will be reviewed annually, says draft IRDAI proposal

Digital lenders seek clarifications from RBI on end-use cases, APR

There are reports that payment aggregators are also looking to knock on the RBI doors as their role has been eliminated

Irdai eases firm registration process from 8 to 2 months: Chairman

"Thereby, we are moving from a rule-based regulatory regime to a principle-based one," Panda said

RBI aims to bring down inflation to 4% in two years: Shaktikanta Das

Central bank hopes to achieve its objectives without too much 'growth sacrifice', he says

Manipal Cigna seeks 30% growth in health insurance: CEO Prasun Sikdar

High claims for Covid-19 a challenge for the industry, says the senior executive

Now, IDBI Bank too hikes deposit rates to fund strong loan demand

The highest rate for senior citizens is 6.55 per cent for tenors ranging from 5 years to more than 5 years and up to 10 years