Page 538 - Finance News

IDFC First Bank posts Rs 101-cr profit in Q2 on interest income, lower provisioning

The bank on Saturday reported its earnings for the July-September quarter of the current fiscal year

Good news for borrowers: Bank of Baroda cuts lending rate by 15 bps to 6.85%

Bank of Baroda, India's third-largest public-sector bank, announced a reduction in repo-linked lending rate from 7 per cent to 6.85 per cent

Banks step up lending in September as the economy opens up: RBI data

Growth in credit to industry had grown 2.7 per cent YoY in September 2019

RBI launches latest surveys on consumer confidence, inflation expectations

The Reserve Bank has launched the latest round of surveys to capture consumer confidence and inflation expectations of households, which are useful inputs for its monetary policy

Bank lending expanded by over Rs one trillion in Sept: Soumya Kanti Ghosh

Overall credit that month was Rs 71,500 cr from a negative Rs 36,000 cr in August. Hence, effectively credit jumped by Rs 1.07 trillion in Sept, says SBI's chief economic advisor

HDFC Bank offers cashback to merchants to encourage digital transactions

With a view to drive digital payment adoption among the merchant segment, HDFC Bank has launched cashback offers for small and medium-sized merchants across the metro, semi-urban and rural markets

NBFC needs to monitor its rollover risk and interconnected risk, says CEA

CEA Subramanian also suggested a way to solve the problem -- adopt technology and use available data to screen sketchy borrowers

Credit growth to industry nil in Sept, banks pick services sector for loans

Personal loans grew 9.2 per cent year on year in September: compared to 16.6 per cent in September 2019

MFI borrowers to benefit from ex-gratia payment of interest scheme

Thousands will benefit from the scheme for grant of ex-gratia payment of the difference between compound and simple interest for six months to certain categories of borrowers, an official said

NBFCs need to follow measures to ward off risks, monitor lending: CEA

NBFCs need to follow prudential measures to ensure that risks do not mount and be vigilant about the quality of lending in these difficult times, Chief Economic Adviser K V Subramanian said

Axis Bank well-placed to face downside risks due to tough conditions: S&P

Asset quality to be weaker than HDFC Bank

State Bank of India raises $1 billion from JBIC, other Japanese lenders

JBIC is a policy-based financial institution, wholly-owned by the Japanese government.

Axis Bank logs net profit of Rs 1,683 cr in Q2; NII up 20% to Rs 7,326 cr

NII has grown 20 per cent to Rs 7,326 crore in the July-September quarter of FY21, compared to Rs 6,102 crore in the corresponding period of last financial year

RBI fines Jio Payments Rs 1 cr for failing on CEO reappointment rule

Action was based on the deficiencies in regulatory compliance, says central bank.

Gold loan assets of NBFCs expected to grow at 15-18% in current fiscal

The demand, especially from individuals for meeting urgent personal requirements and from micro enterprises for working capital to restart businesses, would propel gold loan growth

Are you eligible for refund under interest waiver scheme? Check new rules

The government clarified that borrowers will be entitled to get a refund on an aggregate sum of Rs 2 crore borrowed from the banking system,

Covid-19: Mahindra Finance expects loan recast worth Rs 6,000 crore

Out of 1.6 million customers, 100,000-150,000 accounts are likely to come up for restructuring, according to the company

RBI offers LVB committee option to review CEO names proposed by old Board

The Committee of Directors (CoD) comprise of independent directors Meeta Makhan, Shakti Sinha and Satish Kumar Kalra

SIDBI's 'Standup Mitra' portal records over 96,000 loan sanctions

The Small Industries Development Bank of India (Sidbi) on Tuesday said its 'Standup Mitra' portal has recorded over 96,000 loan sanctions worth over Rs 21,000 crore as of September end

Enforce waiver of interest on interest scheme: RBI to lending institutions

The Reserve Bank asked all lending institutions to implement the waiver of interest on interest for loans up to Rs 2 crore for the six months moratorium period beginning March 1, 2020