Page 15 - Finance Sector

Need policy framework to help states fund parametric insurance: Surbhi Goel

Parametric (or index-based) insurance is a type of coverage that focuses on the likelihood or probability of a loss-causing event occurring, rather than indemnifying the actual losses sustained

Stress continues to build up in fintech lending with PAR on the rise

The Reserve Bank of India's December 2024 Financial Stability Report states that household debt is on a rising trend

Avaada Group gets Rs 8,500 cr commitments for nine projects for Q3FY24

Avaada Group on Wednesday said it has secured financial commitments worth Rs 8,500 crore from multiple lenders, including SBI and Yes Bank, for its nine projects. The financial closure for the 9 projects includes a mix of utility-scale independent power projects (IPPS), large-scale agri photovoltaic projects, merchant power generation projects, commercial and industrial projects and the group's green module manufacturing business. "Avaada Group has successfully completed financing/ refinancing of 9 of its projects across the business divisions totalling for an amount of Rs 8,500 crore (USD 1 billion), showcasing the company's commitment to advancing renewable energy solutions across India," the company said in a statement. These financing came through multiple transactions with a diverse set of lenders ranging from leading public sector banks like SBI and Union Bank, financial institutions like NABFID and PFC, and from sector Standard Chartered, Axis Bank, Yes Bank, Tata Capital, ..

Union Budget 2025: Balancing growth, demand, and financial strategy

The finance minister must focus on her direct responsibilities, not on programmes where her role is supportive

Fintechs shift to direct merchant integration, move away from Juspay

Following PhonePe's decision to end its partnership with payment orchestration platform Juspay, other companies, including Razorpay and Cashfree Payments, are considering similar moves

India must thank Manmohan for shift from caste-based to class-based society

For ages, the halwahi ecosystem had maintained a civilisation that had kept trade cashless. Land and grains were the only form of wages

Punjab National Bank, Indian Bank get new chief executive officers

He brings with him extensive experience in banking, spanning more than three decades in various capacities. As Executive Director of Punjab National Bank (PNB) since November 2022

India's digital evolution on post-pandemic treadmill: Ranks 8th in momentum

The 'momentum' of digital evolution is calculated based on the annual rate of change in a country's digital evolution, essentially how quickly its digital transformation is occurring

Why did RBI replace flexible exchange rate with de facto peg against dollar

The RBI must come out with an official explanation, but until it does, we can only guess. But there are a few reasonable hypotheses

Threat or opportunity: India needs to be prepared for AI-driven changes

A recent study by Bloomberg Intelligence indicates that jobs in banking and finance are among the most vulnerable to AI induction

SBI chief C S Setty calls for common mechanism to track SME fund usage

In recent years, fintech and banks have started to dig for credit information from publicly available data and use analytics to create a credit profile

ARCs open to acquiring non-performing MFI loans, but only at right price

Industry-wide stress in the microfinance sector has built up due to unchecked credit growth and multiple loan disbursements to the same customers, resulting in overleveraging among borrowers

Exim Bank India raises $1 billion from overseas via 10-year bonds

Exim Bank of India has raised USD 1 billion (about Rs 8,570 crore) from overseas at lowest ever spread to fund business growth, the Department of Financial Services said on Tuesday. "Fantastic start to the year by Indian issuers in global capital markets, with state-owned @IndiaEximBank raising $1 bn 10-year USD-denominated bonds at lowest ever spread (100bps) for USD-denominated public bond by a BBB-rated issuer in Asia," the Department of Financial Services (DFS) said in a post on X This demonstrates the confidence of overseas investors in the India story, it said, adding, this landmark transaction marks a strong start to the year for Indian issuers in the international debt markets, supporting Exim Bank's mandate and contributing to the vision of Viksit Bharat. Exim Bank provides financial assistance to exporters and importers, and functions as the principal financial institution for coordinating the working of institutions engaged in financing export and import of goods and ...

More than 4 out of 10 users earn dividends, says Cred Money report

At a median level, users earn dividends about ten times annually. Banking activity includes 116 P2P banking transactions against 318 outgoing payments, Cred Money data shows

Insurers to double down on technology, rural expansion for growth in 2025

Industry will also focus on strengthening distribution networks and human capital

RBI likely fine-tuned forex market intervention by slowing dollar sales

By October-end, the RBI's net short position in the forward market stood at $49.2 billion, up significantly from $14.6 billion in September

RBI lifts curbs on Mumbai-based Sangli Sahakari Bank after 2.5 years

The bank's DICGC liability was down to Rs 36.97 crore from Rs 49.33 crore in September 2024. The company improved its net worth to Rs 5.41 crore as budgeted

Rupee falls past 85/USD to all-time low after hawkish US Fed outlook

The last time the local unit traded below the 83 mark against the US dollar was on December 18 last year, when it hit 82.19 during intraday deals

2024, a rear view: Mint Road balances continuity and change in governance

Mint Road saw a new incumbent at the helm, followed through on its regulatory and governance initiatives even as the wait continues on a few fronts

NBFCs top growth rate in micro-finance at 27.6% Y-o-Y by Sept-end FY25

The portfolio-at-risk 31-180 days-past-due has shown a deterioration across all entity types