Page 429 - Finance News

Digital recovery of retail loans set to surge, reduce cost of field agents

The threat of real or make-believe police complaints and legal notices against borrowers has been used for recovery

Govt to provide bulk of Rs 15,000 cr capital support to weak PSU banks

Weak public sector lenders like Central Bank of India and Punjab & Sind Bank will get the lion's share of the Rs 15,000 crore earmarked for capital infusion in state-owned banks for the current fiscal

RBI proposes to assess impact of its financial literacy campaigns

The Reserve Bank of India is proposing to assess the impact of the multi-media awareness campaigns launched by it to promote financial literacy and also safe banking practices.

RBI extends tenure of its additional director on board of Dhanlaxmi Bank

The Reserve Bank has extended the tenure of its additional director G Jagan Mohan on the board of Dhanlaxmi Bank by two years, as per a regulatory filing

NBFC biz to return to normal, FY23 loan growth pegged at 14%: India Ratings

These companies are likely to begin FY23 with sufficient capital buffers, stable margins and sizable on-balance sheet provisioning, while adequate system liquidity would aid funding

What is red herring prospectus?

Markets are awaiting the IPO of Life Insurance Corporation of India. Even before it hits the primary market, LIC filed a draft red herring prospectus (DRHP) with the SEBI. Find out more about this doc

Uneven economic recovery nudged MPC to continue policy support: Minutes

The six-member MPC voted to keep the policy rate unchanged and continued with the accommodative stance at its meeting on February 10

Bank credit grows by 7.86%; deposits by 9.11%: RBI data

Bank credit grew by 7.86 per cent to Rs 115.45 lakh crore and deposits rose by 9.11 per cent to Rs 161.28 lakh crore in the fortnight ended February 11, RBI data showed.

Northern Arc Group to acquire SMILE Microfin

The transaction will involve the takeover of the microfinance portfolio of S.M.I.L.E., along with its network of nearly 150 branches catering to over 0.2 million customers.

RBI cancels PC Financial Service's certificate of registration

The company violated the central bank's directions on outsourcing and KYC norms and was also found to be charging very high interest rates and other charges from its borrowers

NBFCs' loan sanctions up 5% YoY in Q3FY22: Data

Consumer credit drives action; commercial segment shows modest growth, according to FIDC-CRIF data

M&M Finance's looks to double AUM of Lankan venture

Company exploring entry into Bangladesh

RBI asks NBFCs to enable Core Fin Services Solution akin to that in banks

Upper & Middle layer NBFCs with 10 or more fixed point services delivery units should implement it by Sept 2025

Special dispensation on voting rights not likely for IDBI Bank buyer

May be capped at 26%, irrespective of stake bought

PSB recap bonds fair valuing to dent Tier-1 capital up to 1.75%: Ind-Ra

The rating agency said it understands that the five recipient PSBs may need to value zero-interest bonds at fair value instead of par value

RBI to focus efforts on reviving growth: Deputy governor Michael Patra

India's central bank wants to focus all its energies on reviving the country's economic growth given that inflation's momentum is declining, Patra said

MFI Spandana Sphoorty expects to disburse Rs 1,000 cr in Q4 of FY22

The company had put disbursements on hold in Q3FY22 after its managing director Padmaja Reddy resigned abruptly last November

RBI alerts public about Gurugram-based unauthorised wallet operator sRide

sRide is a carpooling mobile app that connects people within the community to share rides. It is present across four Indian cities with over one million rides offered and 8 cities in the US

Maintain constant vigil on financial sector: FM Sitharaman to regulators

The Financial Stability and Development Council (FSDC) meeting attended by various financial sector regulators comes against the backdrop of rising tension between Russia and the US over Ukraine

IDFC FIRST Bank CEO gifts shares worth over Rs 3.95 cr to trainer, driver

In addition, the bank said Rukmani Social Welfare Trust has disposed of 2 lakh equity shares to support social activities