Page 5 - Credit

Bank credit grows at 16.1% to Rs 134.17 trillion in Feb 10 fortnight

About a month ago (January 13 fortnight), credit growth stood at 16.5 per cent YoY

RBI-MPC may go for 25bps policy rate hike in April, says Acuite Ratings

Credit rating agency Acuite Ratings and Research said the Reserve Bank of India (RBI) will continue with monetary tightening and will hike the policy rate by 25 basis points (bps).

Two-thirds of NTC consumers were from semi-urban areas in 2021: Report

More than two-third of the new to credit customers in India hailed from the rural and semi-urban areas in 2021, according to a credit information company. Women, farmers and youth lead the charge on the New To Credit (NTC) customer addition front, which is desirable from a financial inclusion perspective, Transunion Cibil said on Tuesday. In 2021, the total number of NTC customers stood at 35 million while the January-September 2022 period saw 31 million additions, it said in a report. NTC consumers are ones with no prior credit history on their credit bureau file who opened their first-ever, traditional credit product such as a consumer durable loan, personal loan, agricultural loan, two-wheeler, gold loan or home loan. More than a fourth of the NTC customers in the first nine months of 2022 started their credit journey by availing a consumer durable loan, followed by 16 per cent who took an agricultural loan and 13 per cent availed personal loans, it said. Among the NTC consumer

Hinduja sweetens offer for RCap to counter Torrent group's winning bid

CoC decide whether Hinduja offer is legally valid or not as e-auction has ended

Bank credit grows 17.2% YoY to Rs 129.48 trn in fortnight to Nov 18

Deposit growth rises 9.6%, analysts cite FPI flows, govt spending

Moody's give negative credit outlook to nations on high prices, slow growth

Moody's on Tuesday gave a 'negative outlook' to credit worthiness of countries globally for 2023, saying high prices of food and energy would curb economic growth and raise social tensions. Tighter financial conditions and economic scarring will push some debt burdens to unsustainable levels, while rising borrowing costs will erode debt affordability, according to Moody's. It forecast that as many as 13 nations, including India, would spend over 20 per cent of their government revenue in servicing debt next year. The policy dilemma between servicing creditors and meeting populations' demands for social and economic developments will intensify as governments dedicate a growing share of their revenue to interest payments, it added. "Our outlook for sovereign creditworthiness in 2023 is negative. Although inflation will start declining, prices of food and energy will remain high, curbing economic growth and raising social tensions," Moody's said. Global GDP growth will slow to 1.7 pe

Credit to industry up 12.6% YoY in September; touches 100-month high

Apart from base effect, credit to industry got a big boost from MSMEs; among sectors, petroleum, gems & jewellery, engineering, iron & steel, and construction were key drivers

Scale with proper capital allocation is critical: APAC Financial founder

We have built significant digital and physical infrastructure to cater to the credit needs of MSMEs (micro, small and medium enterprises) in the semi-urban and rural areas

Karur Vysya Bank net profit up 52% at Rs 250 cr in Q2, deposits grow

NPA declines to Rs 2,457 crore, compared to Rs 3,972 crore a year ago

25% micro credit customers graduated to SMEs since Covid: Bandhan Bank MD

Ghosh says bank is looking to increase branch count to 8,000 nationally from the current 5,640

Industry's Leading Bad Credit Loans Online: Loans For Bad Credit Approved Within 24 Hours

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Karur Vysya Bank Q1 net doubles to Rs 229 cr, interest income up 17%

Operating profit for up 15% YoY, major improvement seen in bad loans

RBI's credit line norms: Card-based fintech players may have to stop offers

Some of the players expected to take a hit due to the RBI's diktat are Slice, Uni Cards, Jupiter, EarlySalary, etc

Credit offtake remains robust in April across sectors, shows RBI data

Loans to medium-sized industries gerew 53.5% this April as compared with 44.8% a year ago

Sri Lanka extends credit line with India by $200 mn for fuel: Power Min

Colombo was also in talks with New Delhi over extending the credit line by an additional $500 million, minister Kanchana Wijesekera told a news conference.

Despite policy efforts, half of Indian adults 'credit unserved': Report

An additional 164 million were classified as 'credit underserved' in the global study done by Transunion Cibil, while only 179 million fit into the 'credit served' category

Despite policy efforts, half of Indian adults 'credit unserved': Report

Around 480 million adult Indians till the age of 65, representing half of the overall population in the earning segment, are 'credit unserved'

India extends additional $500 mn credit line to Sri Lanka for fuel purchase

India has already agreed to defer USD 1.5 billion in import payments that Sri Lanka needs to make to the Asian Clearing Union

Banks share in industrial credit plunges to 34% in FY21, says report

The share of non-banks in the commercial credit has more than doubled to 44 per cent while that of foreign banks' rose to 22 per cent in FY21

Budget 2022: Govt extends ECLGS till Mar 2023; includes hospitality sector

Total guarantee cover expanded to Rs 5 trillion