Page 370 - Finance News

RBI tightens digital lending norms to prevent charging of exorbitant rates

Companies cannot increase users' credit limits without their explicit consent, says RBI

Trading on crypto exchange WazirX drops by over 55%, WRX token loses sheen

Homegrown cryptocurrency exchange WazirX has witnessed a sharp 50 per cent drop in trading on its platform, while its WRX crypto token nosedived from Rs 23 per coin earlier this month to Rs 17.

FY23's interest coverage ratio likely to deteriorate: Bank of Baroda study

The interest payments of the companies is going to increase going forward because interest rates are expected to go up in the rising rate cycle

Banks wrote off Rs 10 trillion in last five financial years: Centre

A recent Parliament reply disclosed that scheduled commercial banks have written off loans worth about Rs 10 lakh crore in the last five financial years

Mswipe Technologies gets RBI approval for payment aggregator's licence

Joins companies allowed to manage and process merchants' online transactions

Centre asks IBA to ready EASE-like plan for regional rural banks

The banks' lobby group has been asked to assist with the preparation of the viability plan for RRBs

HDFC Bank's Kaizad Bharucha took home the most among bankers in FY22

Axis' Amitabh Chaudhry the highest paid among bank CEOs

RBI prescribes norms for small finance banks looking to deal in forex

Criteria for entering the forex business include profit in the preceding two years and net NPAs not being more than 6% in the previous four quarters

HDFC Bank, IDFC First hike MCLR post repo rate hike by Reserve Bank

Most banks have revised their external benchmark linked loan rates by 50 bps

HDFC hikes retail prime lending rate on housing loans by 25 bps from Aug 9

The mortgage lender has raised rates by 140 bps since May, passing on the entire repo hike to borrowers

RBI imposes fine on 8 urban co-operative banks for breach of various norms

Penalty has been imposed on Mehsana Urban Co-operative Bank for non-compliance with certain provisions of the Reserve Bank of India (Co-operative Banks - Interest Rate on Deposits) Directions, 2016.

PNB Housing revamps 'Unnati' to offer Rs 9-12 lakh as affordable loans: CEO

PNB Housing Finance is revamping its 'Unnati' loan portfolio to go deeper into the affordable housing segment eyeing customers who need loans of Rs 9-12 lakh, MD & CEO Hardayal Prasad said.

PSBs recover Rs 6.42 trn NPAs, written off loans since from FY15 to FY22

From FY16 to FY21, the central government has infused Rs 3.36 trillion of capital in PSBs, while banks have raised an additional Rs 2.99 trillion from the markets

Normalising policy

The pace of rate hikes could moderate

ICICI Bank, PNB, Bank of Baroda lift loan rates post RBI rate hike

RBI's Monetary Policy Committee raised the repo rate to 5.40 per cent from 4.90 per cent, taking the benchmark policy rate to a three-year high

Bank of Baroda to raise Rs 1,000 cr via infra and affordable housing bonds

Bank of Baroda is planning to raise Rs 1,000 crore through issuance of infrastructure and affordable housing bonds on August 12

Monetary policy review: Economists see repo rate climbing to around 6%

At its current level, the repo rate is at its highest since August 2019

NRIs can now pay utility bills through Bharat Bill Payment System

More than 80 million transactions are processed on the payments platform on a monthly basis

India Inc's capex costs to shoot up as RBI hikes repo rate by 50 bps

The biggest losers would be the rate-sensitive real estate and two-wheeler sectors, which may see demand coming down

After rate hike, ask your lender to increase home loan EMI, not tenure

A 50-bps hike on a Rs 50 lakh loan of 20-year tenure would increase the EMI by Rs 1,545