Page 11 - Finance Sector

Shriram Finance seeks RBI approval for primary dealership licence

RBI is very selective about granting PD licences. If granted, Shriram Finance will be one of the first non-bank entities to receive a PD licence in recent times

Datanomics: MPC meets to spur economic growth amid heightened uncertainty

The Economic Survey has projected economic growth at 6.3-6.8 per cent for FY26 against 6.5 per cent for FY25, as pegged by the second advance estimates

Decline in yields triggers $4.5 billion debt issue from Indian companies

The sales include planned issues worth more than $2 billion on Tuesday, the end of the five-day run that will have included at least 15 companies tapping the bond market

RBI monetary policy: Expect 25-bp rate cut, but no change in stance

As headline inflation moves closer to RBI's target, and growth momentum remains elusive, a rate cut may be on the cards

Securitisation volumes see a slump sequentially in Q4FY25, says ICRA

A few players, including private banks, who securitised higher volumes in Q2 & Q3, were less active in the final quarter of the financial year, analysts and bankers said

Ujjivan SFB rises after total deposits climb 20% to Rs 37,617 cr in Q4

Credit-deposits ratio declined to 85.4% as of 31st March 2025 as compared with 94.7% as of 31st March 2024

Banks pitch SORR as overnight benchmark ahead of RBI policy meeting

The central bank has been conducting a series of interactions with banks, seeking feedback to tide over the liquidity crunch in the banking system and improve monetary transmission

Govt appoints Sivasubramanian Ramann as the next PFRDA chirperson

Ramann, who is currently serving as the deputy comptroller and auditor general (CAG) and chief technology officer at the CAG of India, has been appointed for a tenure of five years

Shishu account share drops sharply as Kishor loans surge: SBI PMMY Report

The average ticket size of the loans has nearly tripled - Rs 1.02 lakh in FY25, Rs 72,000 in FY23, from Rs 38,000 in FY16

NPCI appoints industry veteran Rajola as executive director of growth

Rajola will be responsible for driving the adoption of NPCI's payment solutions

UP Co-operative Bank outpaces commercial lenders in loans, advances

UPCB has achieved a credit deposit (CD) ratio of over 72 per cent, higher than the overall banking sector's CD of 61 per cent in UP

Behind the Code: How Andrii Davydchuk Reimagined Small Business Lending

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Are regulators becoming managers? Concerns grow over autonomy risks

Regulators are increasingly asserting control over MD appointments by rejecting candidate panels submitted by regulated entities, curtailing proposed tenures, and altering remuneration structures

Arya.ag NBFC arm does Rs 2,000 crore commodity financing in FY25

"Most of the NBFCs working on our space do a commodity finance of around Rs 1000 crore maximum, but we are among the first to have reached this milestone," said Anand Chandra, co-promoter of Arya.ag

Shriram Finance targets to cross Rs 3 trillion in assets in FY26

Shriram Finance Ltd, the flagship company of diversified conglomerate Shriram Group, is set to cross Rs 3 lakh crore in assets during the next financial year starting April 1 with loan growth of 15 per cent. "We expect 15 per cent credit growth for FY26 if the GDP grows at 6.5 per cent. Usually, loan growth is more than 2 times of the GDP. Higher the GDP growth, higher is the demand for loan," Shriram Finance executive vice chairman Umesh G Revankar told PTI. Asked about the asset book target, he said, it should cross Rs 3 lakh crore in FY26 and this financial year would close over Rs 2.5 lakh crore. Shriram Finance would end the current financial year with 18 per cent credit growth although the guidance was 15 per cent, he said, adding, the company has exceeded its target. If the economy picks up, he said, the company would do better than the guidance. For example, he said, the company can easily grow its credit at 18 per cent if the GDP growth is more than 6.5 per cent. Apart

Truhome Finance raises Rs 870 crore via ECB to fund affordable housing

Truhome Finance, formerly Shriram Housing Finance, on Friday said it has raised USD 100 million (about Rs 870 crore) through maiden syndicated External Commercial Borrowing (ECB) to fund affordable housing. The company has secured this funding through a social loan facility from DBS Bank and Sumitomo Mitsui Banking Corporation (SMBC) as mandate lead Arranger and book-runner and joint social loan coordinators in this syndication, Truhome Finance said in a statement. Structured as a social loan, this facility underscores Truhome's commitment to financial inclusion and sustainable housing finance, it added. The fund will be utilised to expand Truhome's lending portfolio, specifically catering to semi-urban and affordable housing segments, ensuring that underserved borrowers have access to home ownership opportunities, it said. This transaction not only reinforces Truhome's strong credit profile and prudent risk management practices but also sets a new benchmark for global funding in t

FM Sitharaman meets US Chamber of Commerce President Suzanne Clark

Finance Minister Nirmala Sitharaman on Thursday met US Chamber of Commerce President and CEO Suzanne Clark. "Union Minister for Finance and Corporate Affairs Smt @nsitharaman met Ms @SuzanneUSCC, President and CEO, US Chamber of Commerce @USChamber, in New Delhi, today, along with Mr Atul Keshap, President, @USIBC at @USChamber," the Finance Ministry said in an X post. The ministry further said that during the meeting, Sitharaman mentioned that India values the growing business engagements between India and US businesses. Clark appreciated India's continued reforms, including in FDI, leading to the growing interest of US businesses in India, and underlined the increased cross-border investment, innovation, growing entrepreneurship and trade that strengthen the US-India partnership, the ministry added.

MDR demand gains momentum as industry bodies rally behind proposal

MDR refers to a fee that merchants pay banks or companies (fintech) processing payments for executing a transaction

Business correspondents to undergo digital audit and fresh training

A working committee is likely to be formed to do the job, and will be headed by one of the managing directors of State Bank of India (SBI)

Banks set to make treasury gains in Q4 FY25 as bond yields soften

The yield on the 10-year benchmark government bond fell 8 basis points in the previous week - the steepest weekly decline in four months, since November 30, 2024 - to settle at 6.62 per cent