Page 480 - Finance News

AU Small Bank eyes Universal banking status in 2-3 yrs, says MD-CEO

Lender has rolled out platform to provide customers with a full-suite of digital banking services, including face-to-face interaction with a banker over video call

YES Bank eyes own asset reconstruction company, invites EoIs from investors

In April, the RBI formed a 6-member panel headed by Sudarshan Sen, former ED, to carry out a comprehensive review of the working of ARCs in the financial sector ecosystem

Non-life insurers' premium up 19.46% at Rs 20,000 crore in July

In July, non-life insurers - 33 in total - earned premiums to the tune of Rs 20,171.15 crore, against Rs 16,885 crore in the same month last year

A new phishing attack lurking to scam banking customers: Advisory

The malicious activity is being carried out using the ngrok platform, a unique web application, it said.

Track up to 29-day dues in micro-loans to contain slippages: Sidbi

Advises caution amid easing of stress, evident from improved collection efficiency

Global banks unwind India currency trades worth billions after RBI warning

The issue in focus is a flurry of currency swap trades that involved the banks converting rupee-denominated deposits into dollars that were then used to buy foreign sovereign debt

Nearly half the loans under ECLGS went to services sector, traders

Together, the two sectors account for over Rs 91,000 crore worth of govt-guaranteed loans out of a total of Rs 1.98 trillion

Asset quality risks on rise, but Indian banks can absorb loss: Moody's

Coronavirus outbreaks triggering strict containment steps will impede economic recovery and erode borrowers' debt repayment capacity, increasing their asset risks, says agency

Starting October 1, RBI to levy penalty on ATMs that run out of cash

Penalty of Rs 10,000 per ATM will be levied in the event of a cash-out situation for more than 10 hours in a month

Parliament briefs: PSBs extend 133,000 loans for Covid-19 treatment

58.2 million inoperative Jan Dhan accounts, frauds at urban coop banks decline

NBFC-MFIs gross loan portfolio may grow 10-15% in FY22: Report

The Gross Loan Portfolio (GLP) for NBFC-MFIs had grown only 11 per cent year-on-year in FY 2021.

Banks' asset risks rise, but credit strength to stay intact: Moody's

Asset risks for banks will rise in most parts of ASEAN and India as the region battles new waves of Covid infections amid low vaccination rates, according to a report by Moody's Investors Service

Depositors of PMC, other banks to benefit from DICGC Bill: FM Sitharaman

We want to make sure within 90 days depositors get the money so that small depositors who make up 98% of all depositors will get their money in time, she said

Q1 results: State-owned lenders' net profit jumps 140% as provisions dip

The asset quality of state-owned banks remained stable with a fall in gross non-performing assets on y-o-y basis and sequentially

RBI hikes collateral free loans to SHGs under DAY-NRLM to Rs 20 lakh

The Reserve Bank of India on Monday notified the enhancement of collateral free loans to self-help groups (SHGs) from Rs 10 lakh to Rs 20 lakh under DAY-NRLM

Sa-Dhan moots uniform tool for income assessment of microfinance borrowers

Says it has developed a credit assessment tool for supporting the sector in getting accurate income assessments

PNB Housing aims to bring corp loan book below Rs 10k cr by March 2022: MD

PNB Housing Finance is targeting to reduce its corporate loan book to below Rs 10,000 cr by the end of this fiscal as it seeks to focus more on retail lending activities, according to a top officia

HDFC Bank to hire 500 more employees this fiscal to expand MSME coverage

Country's largest private sector lender HDFC Bank, which has a focus on the MSME sector, is hiring 500 more relationship managers this fiscal as the bank is expanding its coverage to 575 districts

Rupee snaps 5-day winning streak, drops 11 paise against US dollar

Halting its five-session winning run, the rupee on Monday declined by 11 paise to close at 74.26 (provisional) against the US dollar, tracking the firm American currency

New licensing regime for urban co-operative banks in the pipeline

Report of committee headed by ex-RBI deputy governor may be submitted in a fortnight