Page 129 - Finance News

December numbers signal improving microfinance situation: MFIN CEO

'Committed to ensure rates are set so that micro lending is viable, gains are passed to clients'

Field agents at a crossroads: The BC channel is ripe for being reimagined

The business correspondent channel is sought to be reworked with more offerings being hawked on it

FinMin to meet bank heads on Wed to review financial inclusion schemes

The meeting, which would see participation from representatives of private sector banks, is scheduled to be chaired by Financial Services Secretary M Nagaraju

IBA seeks blanket corporate tax holidays for compressed biogas production

IBA said that this will act as an incentive for businesses, which are willing to invest in and scale up CBG production

IBBI mandates eBKray auction platform for selling assets under liquidation

IBBI directed the IPs (insolvency professionals) to list unsold assets from ongoing liquidation cases for auction on the eBKray platform by March 31

Rupee hits new low of 85.97/$; forex reserves drop further to $634 billion

The local currency edged higher by 3 paise on Friday against the previous low of 85.94 recorded on Thursday

SBI chief C S Setty calls for common mechanism to track SME fund usage

In recent years, fintech and banks have started to dig for credit information from publicly available data and use analytics to create a credit profile

Lenders must offer fixed-rate products for EMI-based loans, says RBI

While lenders offer fixed rate auto loans, unsecured personal loans, not many banks and NBFCs have fixed rate products for home loans

FPIs exit domestic debt market as bond yield gap with US shrinks

Foreign investors were net sellers of FAR securities in October and November, driven by lower-than-expected growth in the second quarter of the current financial year

Retirees ask FM for Rs 7,500 minimum monthly pension under EPS-95

Commander Ashok Raut, National President of the committee, highlighted the plight of over 78 lakh pensioners from central and state government PSUs, private organizations

Mandatory for banks to offer fixed interest rate product: RBI's FAQs

During the tenure of the loan, any increase in the EMI/tenor on account of the external benchmark rate should be communicated

India's forex kitty declines $5.69 bn to $634.58 bn, shows RBI data

In the previous reporting week, the overall kitty had declined by $4.112 billion to $640.279 billion

Fund managers see RBI boosting liquidity before interest rate cuts

The RBI is one of the few central banks globally that is yet to cut interest rates despite repeated calls for easing amid a slowing economy

In month since the change of guard at RBI, rupee's volatility picks up

The dollar-rupee pair's 1-month daily realized volatility touched a near-six-month high late in December while implied volatility, a gauge of future expectations, rose to 3.5%

Tech glitch causes GST filing delay; taxpayers call for deadline extension

GST portal outages ahead of the January 11 deadline for December 2024 returns leave businesses struggling, with taxpayers urging an extension

Recovery agents are in demand as banks' unsecured loan stress rises

In July 2024, the total strength of outsourced staff in the BFSI (banking, financial services, and insurance) space was 77,000, out of which 6,000 were recovery agents

Cease & desist: Reserve Bank of India's quick shift on NBFC curbs

In December, the restriction was lifted for Navi Finserv, and this month, it was removed for the remaining three NBFCs

ARCs open to acquiring non-performing MFI loans, but only at right price

Industry-wide stress in the microfinance sector has built up due to unchecked credit growth and multiple loan disbursements to the same customers, resulting in overleveraging among borrowers

Rupee volatility likely to drive imported luxury car prices off course

Luxury car sales touched 51K units for first time in 2024

Rupee hits record low of 85.94/$ intraday, recovers to close at 85.86/$

The dollar index inched up to 109.14 compared to 108.98 on Wednesday. The index measures the strength of the greenback against a basket of six major currencies