Page 398 - Finance News

Small ticket, big business: Fintech firms see surge in instant loans

A recent report by CRIF High Mark has it that small-ticket personal loans contributed 50 per cent by volume in FY21

FM to meet heads of PSBs on Monday; may urge them for credit growth

The Finance Minister is said to take stock of credit growth, asset quality, and business growth plan of banks

Canara Bank aims to improve bottom line further with focus on lending biz

Recording over two-fold jump in its net profit, Canara Bank aims to improve its bottom line further with balanced focus on advances to retail businesses, coupled with greater focus on digitisation

RBI aims to make India a powerhouse of payments globally by 2025: Experts

The RBI came out with its 'Payments Vision 2025' document which also talks about ring-fencing of domestic payment systems, including the need to mandate domestic processing of payment transactions

CVC-constituted panel ABBFF gives advice on 84 bank fraud cases in 3 yrs

The CVC constituted panel has given its advice after thorough examination of role of all levels of officials on 84 bank fraud cases involving amount of over Rs 3 crore in the last three years

South Indian Bank raises MCLR rates by up to 0.20% effective Monday

Private sector lender South Indian Bank has raised the marginal cost of funds based lending rates by up to 0.20 per cent across various tenors to be effective from Monday.

Millath cooperative bank's licence cancelled; depositors to get full amount

Karnataka lender doesn't have adequate capital or earning prospects, says RBI in statement.

Payments Vision 2025: RBI aims to regulate BigTech, FinTechs, BNPL services

Titled "Payments Vision 2025", this document aims to provide every user safe and affordable e-payment options

Moody's upgrades ICICI Bank, Axis Bank's baseline credit assessments

Affirms Baa3 deposit ratings of both Indian private sector lenders; outlook on ratings for both banks, where applicable, remains stable

Overseas remittances almost double year on year to $2 billion in April

Travel, relative care top the chart, with the former coming back to pre-Covid levels

Bank credit growth hits three-year high of 13.1%, shows RBI data

A hike in retail fixed-deposit rates has been much smaller than the lending rate hike. Bulk deposit rates have, however, spiked

FM Nirmala Sitharaman set to review govt banks' financials on Monday

Loan recovery, over Rs 100 crore of bad loans to be assessed

RBI not behind curve, focus on inflation target could have been risky: Das

I feel that we are very much in line with the requirements of our time, the RBI has acted proactively: Shaktikanta Das

FM to meet heads of PSBs on June 20; may nudge them for loan growth

The Finance Minister would take a stock of credit growth, asset quality and business growth plan of banks

Will issue guidelines to make digital lending ecosystem safer: RBI Guv

Speaking on inflation, Guv Das said that had the monetary policy been tighter, the economic damage would have been enormous

Indians' funds in Swiss banks rise to 14-yr high on surge in instl holdings

The rise in aggregate funds of Indian clients with Swiss banks marks the second consecutive year of increase

India better placed to avoid stagflation risk, says RBI report

Paints an encouraging picture of economic activity gaining strength, with most GDP constituents exceeding their pre-pandemic levels

RBI lifts restrictions on Mastercard over onboarding new customers

The central bank had barred the US-based payment gateway from onboarding new customers until it complies with Storage of Payment System Data norms

RBI increases limit of e-mandates for transactions up to Rs 15,000

Reserve Bank of India has, over the past decade, put in place various safety and security measures for card payments, including the requirement of AFA, especially for 'card-not-present' transactions

Average US mortgage rates show biggest single week jump in 35 years

Average long-term US mortgage rates had their biggest one-week jump in 35 years with the Federal Reserve this week raising its key rate by three-quarters of a point in bid to tame high inflation.