Page 549 - Finance News

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

Prashant Kumar, tasked to lead YES Bank's revival, braces for Covid impact

Yes Bank returned to profit in the quarter ended September and Kumar made provisions for potential covid-related losses

Regaining investors confidence remains an uphill task for YES Bank

Asset quality still an unconvincing weak patch; quality of deposit growth also needs monitoring

RBI encourages investment in sovereign bonds as part of liquidity measures

The pivot from RBI will help the government, which has said it will sell 1.1 trillion rupees more debt for the fiscal half ending in March

Aditya Puri hands over charge, Jagdishan takes over as HDFC Bank MD & CEO

Jagdishan had also come to office for the hand-over ceremony. Both Jagdishan and Puri addressed their colleagues virtually during the day, officials said

State Bank of India raises Rs 5,000 cr by issuing Basel-III compliant bonds

The State Bank of India (SBI) on Monday said it has raised Rs 5,000 crore by issuing Basel-III compliant bonds.

Govt's ex-gratia payment of interest on interest to cover 75% borrowers

The tab that the government will pick-up for such concession is estimated at about Rs 7,500 crore, according to CRISIL's analysis

Gold loan company Muthoot Finance to raise upto Rs 2,000 cr via debentures

The Secured NCDs proposed to be issued under this Issue have been rated "AA" by CRISIL and "AA" by ICRA