Page 30 - Finance News

GenZ is giving credit card market a new swipe beyond metros: Report

Half of India's first-time credit card users are from Gen Z and 46 per cent are from semi-urban and rural markets, reflecting changing patterns in formal credit adoption

India should shift financial inclusion focus to financial health: PwC-Dvara

India should shift its financial inclusion agenda from expanding access to improving household financial health, as wider account ownership alone has not improved resilience, says a report

EPFO rolls out upgraded CITES platform, FY26 PF interest by July 15

EPFO has launched the upgraded CITES 2.01 platform, enabling faster claim processing and service delivery, with FY26 provident fund interest set to be credited by July 15

Reputation biggest risk for Indian fintechs, ahead of cyber, AI: Report

Nearly 59 per cent of fintechs surveyed rated reputation and brand damage as a high-severity risk, ahead of infrastructure, competition and data privacy concerns

Rupee declines 20 paise to 95.16 against US dollar during early trade

At the interbank foreign exchange market, the rupee opened at 95.15 against the US dollar before slipping further to 95.16, down 20 paise from its previous close

S&P sees risks for Indian microfinance lenders' $35 billion loan book

The sector had been under stress for the last two years after rapid credit expansion left many borrowers over-leveraged, driving up defaults and prompting lenders to tighten underwriting standards

Rupee posts biggest single-day gain in three weeks on debt inflows

The rupee rose 0.46 per cent against the US dollar on Tuesday, supported by sustained debt inflows, easing demand from oil companies and a weaker greenback

Commercial realty, gold loans propelled NBFC credit growth to 14.2% in May

Commercial real estate loans grow over 40%, while gold loans grow 70% and consumer durable loans grow 42%

Over ₹1.55 trillion guarantee cover issued under ECLGS 5.0: FinMin

The scheme has benefited India's small businesses with 98 per cent of the total number of guarantees and 82 per cent of the total guaranteed amount going to MSMEs

SBI Funds Management draws top sovereign funds in $1.2 billion IPO

SBI ​Funds Management, a joint venture between the country's largest lender State Bank of India ​and Europe's largest asset manager Amundi, manages assets worth ₹12.5 trillion as of end-March 2026

Rupee strengthens 15 paise to 95.28 against US dollar in early trade

At the interbank foreign exchange market the rupee opened at 95.33 and later touched 95.28 against the American currency, registering a gain of 15 paise from its previous close

NBFCs raise over ₹7,260 cr through bond issuances; SIDBI plans ₹8,000 cr

Tata Capital, Bajaj Housing Finance and Jio Credit led bond issuances on Monday, while SIDBI announced plans to raise up to Rs 8,000 crore through bonds this week

Indian banks curb short-term debt sales as RBI aids cheaper forex funding

No certificate of deposit issuance was recorded over three trading sessions as lenders turned to cheaper overseas forex funding backed by the RBI

Rupee declines 10 paise to 95.28 against US dollar during early trade

At the interbank foreign exchange market, the rupee opened at 95.25, then touched 95.28 against the US dollar, registering a loss of 10 paise from its previous close

Q1 results preview: Banks' earnings may reflect healthy loan growth

Healthy credit growth and treasury gains are expected to lift banks' Q1FY27 profits, while asset quality remains stable despite concerns over the West Asia conflict

Biz loans to entrepreneurs outpace entity credit growth: TransUnion CIBIL

Business-purpose loans to individual entrepreneurs grew faster than credit to commercial entities between 2023 and 2026, signalling a shift in MSME financing, says TransUnion CIBIL

RBI imposes ₹66.7 lakh penalty on Bank of Baroda, GIC Housing Finance

After considering the bank's reply to the notice, the RBI found that the public sector lender had collected interest higher than the contracted rate of interest in certain loan accounts

Sa-dhan rolls out capacity-building programme to strengthen smaller MFIs

The initiative aims to improve governance and operations as smaller MFIs say access to bank funding remains constrained

Rupee rises 19 paise to 95.16 against US dollar during early trade

At the interbank foreign exchange market, the rupee opened at 95.20, then touched 95.16 against the US dollar, registering a gain of 19 paise from its previous close

Banks bet on Gulf, Singapore and Hong Kong to drive FCNR (B) flows

Banks expect the RBI's FCNR(B) deposit scheme to attract major inflows from the Gulf, Singapore and Hong Kong, with mobilisation expected to accelerate in August