Page 470 - Finance News

Amid rise in Mudra loan NPAs, finmin to meet PSB CEOs to take stock

Minister of State for Finance, Bhagwat Karad will meet the PSB CEOs on September 16 in Aurangabad

Mastercard ban: RBL Bank restarts credit card issuances with rival Visa

Two months after getting hit by the regulatory ban on Mastercard, private sector lender RBL Bank on Wednesday restarted credit card issuances on rival Visa's payment network.

India and Singapore sign pact for instant flow of retail payments

RBI, MAS ink pact to link UPI and PayNow; may operationalise by July 2022

YES Bank, six others settle case with Sebi; pay Rs 1.65-crore

The six persons were either a member of the Reputational Risk Management Committee (RRMC) or part of the decision making process in relation to the disclosures made on February 13, 2019

State Bank of India to cut base rate by 5 bps to 7.45%, also reduce PLR

Also, it has cut its prime lending rate by 5 bps to 12.20 per cent

IDFC faces investor ire on delay in divestments and mergers

Chairman Vinod Rai said the company had a very complex corporate structure

NBFC micro credit biz sees near-term stress, shows MFIN data

Finance company executives said the second wave had an adverse effect on the incomes of borrowers

MCA, Finance Ministry hammer out key changes to IBC at review meet

The IBBI has said that the CoC functions in an unregulated environment

Reserve Bank penalises Spice Money, Kuppam Co-op Town Bank

The Reserve Bank on Tuesday said it has imposed a penalty of Rs 2.44 lakh on Spice Money Limited for contravention of certain norms

Microfinance loan portfolio rises 4.2% to Rs 2,37,369 cr as of June-end

The microfinance industry's gross loan portfolio (GLP) rose 4.2 per cent to Rs 2,37,369 crore as of June 30, 2021, compared with Rs 2,27,727 crore as of June 30, 2020, according to a MFIN report

Gross NPAs of banks to cross Rs 10 trn by March 2022: Study

The study also highlighted that risk management practices of Indian banks

Ujjivan Financial Services appoints Sanjeev Barnwal as new CEO

Ujjivan Financial Services on Thursday said it has appointed Sanjeev Barnwal as its new chief executive officer

RBI and Singapore central bank to link payment systems by July 2022

The RBI and MAS hope to complete the linkage by July 2022 "on a reciprocal basis without a need (for users) to get onboarded onto the other payment system".

India and Singapore to link their digital payment systems, says RBI

The linkage will be reciprocal and won't need users to get "onboarded" onto either payment system.

Trust between govt and industry critical, says FM Nirmala Sitharaman

Sitharaman encouraged continuous feedback and inputs from India Inc, and said discussions with industry had enabled the government to take a series of actions as the pandemic situation evolved

After Q1 spike, NBFC bad loans to ease in FY22 as collections improve: Icra

Rating agency says the 90-day-plus dues, which touched 6.3% this June, may drop to 5.3% by March 2022 under base scenario

NFRA to set up single stakeholders' advisory group, research cell

NFRA will set up a single stakeholders' advisory group as well as a research cell to support the group while on-site inspection is not a priority for the nearly three-year-old watchdog at this stage

6 entities complete test phase in 'First Cohort' under Regulatory Sandbox

The Reserve Bank on Monday said six entities have completed the test phase in the 'First Cohort' under the Regulatory Sandbox scheme with retail payments as theme

NBFC loans report strong 37.6% growth, banks still on single-digit

Non-bank firms' sanctions are, however, still half of pre-pandemic level

Indiabulls Housing gets CCI approval to divest mutual fund biz to Groww

Indiabulls Housing Finance (IBHFL) has received the CCI approval to divest its mutual fund business to Groww for Rs 175 crore