Page 498 - Finance News

PSBs sanction 95% of all loans under PM SVANidhi scheme for street vendors

Scheme provides working capital up to Rs 10,000 repayable in a year to hawkers, who get 7% interest subsidy from govt; banks get graded guarantee cover

Growth forecast, rates: 5 key things to look for in RBI monetary policy

Monetary Policy Committee expected to hold rates and continue with an accommodative stance to encourage growth

Bank officers' union proposes guards for unmanned ATMs to check frauds

Bank officers' union AIBOC on Wednesday made a case for deployment of guards at all ATMs to check frauds.

Reserve Bank expected to keep rates steady, liquidity steps eyed: Poll

RBI's monetary policy committee will likely keep the repo rate unchanged at 4% for a sixth straight meeting

HDFC Bank deploys mobile ATMs across 50 cities in India amid Covid-19

These ATMs have been deployed in various metros and non-metros in view of the restrictions imposed by Covid-19, the bank said.

Second wave of Covid-19 to increase bad debts of NBFCs, HFCs: ICRA

According to the rating agency, 25-30 per cent of collections done by NBFCs and HFCs happen through field visits and largely via cash

Has RBI legitimised cryptocurrencies? Traders, banks think it has

Central bank goes beyond saying that its April circular banning virtual currencies is no longer valid.

Union Bank of India appoints A K Vinod as chief compliance officer

State-owned Union Bank of India on Tuesday said it has nominated A K Vinod as its chief compliance officer.

Second Covid wave to push up NPAs for NBFCs, impact collections: Icra

ICRA said NBFCs reported NPAs to increase to about 4.5-5 per cent by March 2022

Amid Covid, HDFC Bank deploys mobile ATMs across 50 cities in India

These ATMs have been deployed in various metros and non-metros in view of the restrictions imposed by Covid-19

NBFCs auction record volume of pawned gold, warn of crisis for banks in Q2

Gold loan-focused non-banks like Manappuram Finance have auctioned a record 1 tonne, worth Rs 404 crore, of the pawned gold in the last quarter of 2020-21

NPAs of NBFCs, HFCs may rise to 4.5-5% by March 2022, says Icra

Restrictions in movements imposed by various states are likely to impact collections of NBFCs and HFCs, which may see NPAs rising to 4.5-5 per cent by March 2022, says a report

CBI books Ghosh Brothers Automobiles in Rs 168 cr bank fraud case

CBI said that it has registered a case against Guwahati-based Ghosh Brothers Automobiles and its promoters and directors in a bank fraud case worth Rs 168 crore

Capital Float crosses Rs 2,000 crore financing though its platform

Buy now pay later credit platform Capital Float on Tuesday said financing through its platform has crossed over Rs 2,000 crore by March 2021.

Edelweiss boosts co-lending partnership with Central Bank of India for MSME

Edelweiss Retail Finance Ltd announced strengthening of its co-lending partnership with Central Bank of India for priority sector lending to micro, small and medium enterprises

YES Bank lowers its FY 2021-22 growth estimate for India to 8.5%

Yes Bank on Tuesday revised its growth estimate for India for the financial year 2021-22 to 8.5 per cent.

Credit losses set to decline for most Asia Pacific banks, says S&P

Credit losses are set to fall across most Asia Pacific banking systems over the next two years, S & P Global Ratings said on Tuesday

India's sovereign bond yields may stretch to April 2020 high, says expert

India's move toward higher bond yields and interest rates will be another milestone in the recovery of global financial markets from the ravages of the coronavirus.

Banks shouldn't cite April 2018 circular for denying crypto services: RBI

Banks, however, must run a checklist of local laws before providing such services, says central bank

Serum Institute's Adar Poonawalla appointed chairman of Magma Fincorp

Vijay Deshwal, currently with ICICI Bank as its business head, will take charge as CEO of Magma Fincorp in July