Page 9 - Finance News

India Ratings downgrades Wapcos loans on stretched working capital cycle

India Ratings has cut WAPCOS's bank loan rating from A- to BBB citing a stretched working capital cycle, reliance on debt and audit concerns, even as its order book remains strong

RBI unveils 22 measures to boost credit flow, ease home loan burden

Indian banks are now also allowed to fund acquisitions of non-financial entities and to finance land acquisition by special purpose vehicles, quelling a long standing demand of lenders

RBI examining digital phone locking as loan recovery tool, says governor

RBI is reviewing digital phone locking for missed loan repayments, balancing consumer rights, data privacy and creditors' needs as smartphone financing rises

Higher-rated banks to pay less premium under RBI's proposed model

RBI has proposed a risk-based deposit insurance premium model from FY27 with the flat rate as the ceiling, lowering costs for stronger banks while improving risk management

FIU issues notices to 25 offshore crypto platforms for PMLA non-compliance

FIU-IND has flagged 25 offshore crypto platforms for operating in India without PMLA registration and ordered takedown of their apps and URLs under IT Act directions

Interest rate on small savings schemes retained for Oct-Dec quarter

Public Provident Fund will continue to earn 7.1% interest; National Savings Certificate will fetch 7.7%

Charlie Javice gets 7 yrs in prison for defrauding JPMorgan of $175 million

The 33-year-old Frank founder was convicted of conspiracy, bank fraud, and wire fraud after faking user records to sell her startup to JPMorgan in a $175 million deal

Unclaimed deposits: Heirs must produce succession certificate or probate

For modest balances, banks may accept a legal heirship certificate with indemnity bond

Buying a car post-GST cut? Make sure you do foolproof research first

Compare offers from various dealers on on-road price; strike good deals on the loan and insurance as well

DFS, SC's MCPC hold 40-hour mediation training for DRT, PSU executives

DFS and Supreme Court's MCPC conducted a 40-hour mediation training for DRT presiding officers and PSU bank executives to enhance dispute resolution through consensus

Bima Sugam to launch with 2-3 products and e-KYC module by year-end

The ambitious insurance platform will feature an e-KYC module followed by two or three insurance products available for purchase, starting with health insurance and then life insurance

Customer support and service major issues across fintechs: RBI study

An RBI bulletin study highlights customer support and grievance redressal as key challenges for fintechs, with users citing poor service, app glitches and loan processing issues

Medical negligence: Documentation, expert opinion key to court success

The complaint must be filed in the right forum and within the limitation period

RBI paper says monetary policy transmission to NBFCs remains incomplete

RBI research shows incomplete transmission of policy rates to NBFCs as higher borrowing costs, risk perception and reliance on banks and markets dampen rate adjustments

RBI renews Statement of Commitment to FX Global Code for FX markets

The Reserve Bank of India has renewed its Statement of Commitment to the FX Global Code, reaffirming adherence to principles promoting integrity in foreign exchange markets

GSTAT launch: One forum for state, Centre GST appeals, says FM Sitharaman

Sub heading: 4.8 lakh pending appeals to be heard, says GSTAT Head Mishra

Lenders tilt towards collateral-backed lending: TransUnion report

Shift towards collateral-backed lending signals risk-conscious credit growth

IBC cases piling up largely due to lack of NCLT Benches, DFS tells MCA

With nearly 15,000 cases pending, the shortage of NCLT benches has raised concerns over prolonged insolvency processes, asset erosion, and delayed resolutions under the IBC framework

FACE membership grows fourfold to 275 a year after SRO recognition

The association marked its one year of recognition by the Reserve Bank of India (RBI) last month

RBI considers allowing lenders to lock borrowers' phone after loan default

Adequate safeguards key for customer protection