Page 530 - Finance News

NBFCs seek continued liquidity support in upcoming Union Budget

Non-banking finance companies expect the government to provide continued liquidity support by encouraging banks to lend more to the sector

Indian insurers to withstand pandemic-led downturn: Moody's

Indian insurance companies are likely to withstand the economic downturn exacerbated by the coronavirus pandemic, the report said

Srinivasaraghavan to retire in March after 18 years as Sundaram Finance MD

He has been with the company for the past 38 years, will be succeeded by Rajiv Lochan

Insurers asked to adopt one aspirational district each, says IRDAI Chairman

IRDAI chairman is concerned over low level of insurance penetration in the country

Federal Bank third quarter profit declines 8% to Rs 404 crore

The fall was mainly due to higher provisioning for bad loans

A surge in bad debt is set to further worsen India's shadow bank crisis

Non-performing assets already swelled in the most recent data to the highest in at least five years, at 6.3% as of March 2020 even before the worst of the pandemic impact, the RBI said

RBI working committee in favour of setting up NPCI-type agency for fintechs

RBI panel favours new structure for better supervision

Fairfax-backed CSB Bank's PAT rises 89% to Rs 53 cr in Dec quarter

Total deposits grew by 16% YoY and the CASA ratio stood at 30.4% as on December31, 2020 as against 28.6% as on December 31, 2019. Advances (net) grew 22% YoY on the back of a 61% growth in gold loans

SBI, ICICI Bank, HDFC Bank remain systemically important banks, says RBI

SIBs are subjected to higher levels of supervision so as to prevent disruption in financial services in the event of any failure.

RBI to crack whip on recovery agents, calls for restricting messaging apps

Digital lending apps extend small amounts at exorbitant rates. Payment delays invite messages to customer or close family members, often with sensitive information such as Aadhaar and PAN Card scans

About two-thirds of auto loan needs met by private, foreign lenders: Report

Nearly two-thirds of the auto industry's loan requirements are taken care of by the private and foreign lenders in the country, a report said

Bank of Maharashtra third quarter profit rises 14% to Rs 154 crore

The bank was helped by a decline in bad loans

Tech adaption puts top Indian banks at low risk of digital disruption: S&P

Rising smartphone penetration and internet connectivity, and young, tech-savvy demographic segment present vast opportunities for existing banks and new players

Yes Bank board of directors to meet on Friday to consider fund raising plan

The board will consider a proposal for further fundraising through various means

Citi India elevates Arjun Chowdhry as head of its consumer banking biz

Chowdhry will manage the domestic retail banking, wealth management, credit cards, loans and mortgages

Statsguru: Bank lending in the slow lane amid Covid-19 pandemic

In a period of slowing credit growth, only PSUs have sequentially borrowed more, and that too, only from private banks

The zero MDR has affected the PoS business: Worldline's Deepak Chandnani

India has some 5.2 million PoS units, but a country of our size needs more, DEEPAK CHANDNANI, managing director, Worldline (South Asia and the Middle East), tells Raghu Mohan

Short-term interest rates increase 25-30 basis points, shows data

The reason why short-term rates have spiked is liquidity normalisation

The new playbook: RBI steps in to stem the nexus between banks and fintechs

With the RBI red-flagging mushrooming of digital apps, the tango between banks and fintechs may be in for a big change, report Hamsini Karthik and Raghu Mohan

Bank credit grows 3.2% to Rs 107 trillion in first nine months of FY21

Bank credit grew 3.2 per cent to Rs 107.05 trillion in the first nine months of the current financial year, against a growth of 2.7 per cent registered in the corresponding period of 2019-20