Page 446 - Finance News

RBI may wait and watch, say economists; status quo likely on all fronts

Bond market participants are factoring in a reverse repo hike

IT min asks bankers to create robust platform for easy credit availability

IT Minister Ashwini Vaishnaw exhorted the banking industry to create an innovative digital platform for providing quick and easy credit to MSMEs, small businessmen, and those at the bottom of pyramid.

Microfinance business may attract closer scrutiny on the way it is done

The outstanding microfinance portfolio at Rs 236.1K crore as of June 2021 marks a seven per cent quarter-on-quarter de-growth and less than a per cent in year-on-year growth.

A new approach to identify bad loans is needed: Credgenics co-founder

The pile-up of bad loans is a pain point and the pressure is mounting, said Rishabh Goel

Tightening of norms may increase NBFCs' headline NPAs by one third: Ind-Ra

Tightening of norms may increase non-banking finance companies' (NBFCs) headline non-performing advances (NPA) by around one third, India Ratings and Research (Ind-Ra) said.

RBI new norms likely to increase NBFCs bad loans by one-third: Study

Last month, the RBI had provided clarification on income recognition asset classification and provisioning (IRAC) norms for banks, NBFCs and All-India Financial Institutions

India reaching out to many nations to leverage stack it has built: NPCI CEO

Speaking at the InFinity Forum, Dilip Asbe said there has to be a local or domestic stack because every country has its own complexities and diversities

Indian banks behind on digital adoption, it's time to wake up: Uday Kotak

Says banks must be able to feed huge data being churned out by the financial system into analytics and ML. Turnaround time must give an MSME clarity on a loan in minutes, if not seconds

Need collective global action for effective regulation of tech: Sitharaman

Nirmala Sitharaman on Friday called for a "collective global action" for effective regulation of ever-changing technology and tech-driven payment systems.

Omicron scare may delay RBI plan to normalise accommodative monetary stance

The six-member monetary policy committee of the RBI will meet from December 6-8 to review the policy

Bank credit offtake shows stickiness, rises 7% in November: RBI data

Rating agency CARE in a statement said the credit growth is expected to be in the range of 7.5% to 8.0% for FY22.

Credit card spend crosses Rs 1 trillion first time in a month: RBI

Among major credit card players, ICICI Bank has been the most aggressive

Canara Bank raises Rs 1,500 crore via Basel-III compliant bond

State-owned Canara Bank on Thursday said it has raised Rs 1,500 crore by issuing Basel-III compliant bonds.

Bank credit grows 7% by mid-November, shows RBI data

The outstanding credit of commercial banks stood at Rs 111.62 trillion, up from Rs 10.4.34 trillion a year ago

Bank unions call for two-day nationwide strike on December 16-17

United Forum of Bank Unions convener Mahesh Mishra on Thursday said the government wants to pass the Banking Reforms Bill in the current session of Parliament, paving the way for privatisation

UPI breaks 5-month growth streak; transactions decline 0.71% in November

In November, UPI recorded 4.18 billion transactions worth Rs 7.68 trillion

Need to resurrect concept of gold bank to monetise physical gold: R Gandhi

There is a need to establish a gold bank in the country to help monetise physical gold lying with people, Reserve Bank of India's former deputy governor R Gandhi said on Wednesday.

HDFC, Bajaj Finance hike rates on long term deposits ahead of RBI meet

India's largest mortgage lender, HDFC Ltd, hiked its long-term rates by upto 15 basis points (bps)

Festive season retail demand, MSME drive bank loan growth in October

Credit offtake in services remains weak

Axis Bank stock gains after Fitch affirms rating at 'BB+'

The ratings agency has maintained 'Negative' on the bank's long-term IDR