Page 421 - Finance News

Indian fintech payment firms have no data advantage over banks: Moody's

As RBI barred Paytm from taking on new customers for its Payments Bank, a new report said fintech platforms' dominance in digital payments may not result in a significant data advantage over banks

NARCL to make binding offers to lenders by March 31, say bankers

NARCL is a public sector entity and will have to follow a competitive bidding process for these assets using the Swiss Challenge method.

BBB recommends A Manimekhalai to MD & CEO post at Union Bank of India

Also calls for A K Choudhary's appointment as SBI managing director

BBB recommends Alok Choudhary for SBI Managing Director post

The Banks Board Bureau (BBB) on Wednesday recommended the name of Alok Kumar Choudhary for the post of managing director of State Bank of India.

What is NEFT and how it works?

National Electronic Fund Transfer, or NEFT, is now a preferred mode of transaction for everyone. The RBI-managed NEFT has made near-real-time movement of funds easy. But how does the system operate?

Mapping India's digital transactions

UPI is set to grow bigger now, after the RBI introduced it in feature phones. Other digital transaction platforms are growing as well. Find out the changing landscape of virtual transactions

PSBs disburse Rs 41,269 cr 'loans in 59 minutes' over three years

201,000 loan proposals of Rs 39,580 crore disbursed in the business loan category; 17,791 retail loans amounting to Rs 1,689 crore also disbursed

No public sector bank faced loss in last three quarters, says govt

No plan to set up fiscal council: FinMin

Banks recover over Rs 7.34 trn in six-and-a-half years to Dec 2021: Govt

On recovery of fraud amounts, the minister said Rs 55,895 crore have been recovered in the past six financial years and the current financial year up to December 31, 2021, he said

NaBFID to fund projects in Rs 6 trillion asset monetisation pipeline

Bank to begin work in Q1FY23; asset monetisation will free up resources that will come back to industry

HDFC Bank biz in Karnataka tops Rs 2 trn, lender leads pvt sector in state

The bank's total advances in the state were Rs 73,655.39 cr in Q2FY22; lender enjoys 9% market share in total advances in Karnataka

Why top lenders are laying the groundwork for digital-only banks

SBI is revamping its mobile application to turn to a complete digital bank, which will be named 'Only Yono'. HDFC Bank is working on a similar plan. What does this mean for future for banking?

What is RTGS funds transfer system?

Real Time Gross Settlement or RTGS system has cut short the risk to high-value payment settlements among financial institutions. It is used by central banks worldwide. Find out more about the system

NBFCs, housing finance firms need Rs 2.2 trn in fresh funds in FY23: ICRA

Rating agency in its report said the entities have worked to diversify sources of funds, even if the money came at a higher cost

Sanctions on Russia an opportunity to internationalise rupee: SBI report

'Moment of reckoning' for Indian currency as countries look to circumvent West's crackdown on Moscow, says research.

Recouping lost credit card share to be 'gradual', says HDFC Bank

Analysts expect the bank's underperformance to reverse

Govt plans to float EoI for its stake sale in IDBI Bank next month

Necessary amendments to the IDBI Bank Act have already been made through the Finance Act 2021, and transaction advisors have been appointed

Reserve Bank of India removes interest cap for microfinance loans

Annual income criteria for loans hiked to Rs 3 lakh

MFIs welcome RBI's regulatory framework for microfinance loans

Microfinance institutions and an MFI-turned lender hailed the RBI's Regulatory Framework on microfinance loans saying that these guidelines will further deepen penetration of micro-credit in country.

Top headlines: Feb inflation rises to 6.07%; Chandra named AI chairman

Business Standard brings you the top headlines on Monday