Page 24 - Finance Sector

HDFC Bank to grow advances slower than its deposits: CEO Jagdishan

Erstwhile housing finance major HDFC Ltd. merged into HDFC Bank on July 1, 2023, creating a financial behemoth

Greentech demand, supply constraints likely to fuel silver's bull run

Around 60% of the total demand for silver comes from industry. Industrial demand has increased considerably in recent years

India's fintech industry projected to reach $420 bn by 2029 at CAGR of 31%

The Indian fintech industry is estimated to be around USD 110 billion in 2024 and its projected to reach about USD 420 billion by 2029, Ajay Kumar Choudhary, Non-Executive Chairman and Independent Director, National Payments Corporation of India, said. The sector, he said, is expected to continue to grow due to factors like favourable policies of the government. The government's push towards a digital economy, coupled with a young and tech-savvy population, is likely to propel the fintech sector to new heights, he added. "As of 2024, Indian FinTech Industry is estimated to be around USD 110 billion and by 2029, it is projected to reach an impressive number of around 420 billion at a cumulative annual growth rate of 31 per cent," industry chamber Assocham said in a statement, quoting Choudhary. It said the advent of the fintech ecosystem, driven by technology-linked innovation, has revolutionised traditional financial services and led to improvement in the efficiency of delivery of

Proposed to raise affordable housing limit in metros in Budget: Rishi Anand

Rishi Anand tells that the housing finance company aims to disburse Rs 8,500 crore in the financial year 2024-25

Canara Robeco MF launches Balanced Advantage Fund: Should you invest?

The fund aims to generate long-term capital appreciation by dynamically investing in equity and equity-related instruments and debt and money market instruments

Bank credit-deposit ratio: Work to restore normalcy in system continues

RBI wants banks to explain how they plan to bring it down but has set no specific target

Fintechs' lending biz is growing but industry must mind the warning signals

FY24 sees record loan surge and customer growth

Indian banks eye record infra bond issue for second straight financial year

If successful, funds raised via these bonds in the first five months of the current fiscal year started in April will surpass the Rs 544 bn raised in FY 2023-24

Banking sector continues to confound

It has shown remarkable resilience in the post-pandemic years despite challenges and warnings about instability

Top private life insurance firms hike term policy premium by 4-7%

HDFC Life, Bajaj Allianz Life, ICICI Prudential Life, Max Life increase by 4-7%

Increase participation in financial inclusion schemes: FinMin to pvt banks

On June 25, the DFS asked public sector banks (PSBs) to revive inoperative accounts under the Pradhan Mantri Jan Dhan Yojana

French banking major BNP Paribas launches operations in GIFT City

The BNP Paribas GIFT City branch's product offerings aim to tap new business opportunities for its onshore and offshore clients

The road ahead to Viksit Bharat

The entry and exit of capital are two sides of the same coin, and both need to be facilitated while maintaining financial stability

RBI cancels licence of K'taka-based Shimsha Sahakara Bank Niyamitha

The RBI has cancelled the licence of Shimsha Sahakara Bank Niyamitha, Maddur (Karnataka) in the wake of its worsening financial position. Consequently, the bank ceases to carry on banking business, with effect from the close of business on Friday (July 05, 2024), the Reserve Bank said in a statement. The Registrar of Cooperative Societies, Karnataka has also been requested to issue an order for winding up the bank and appoint a liquidator for the bank. On liquidation, every depositor would be entitled to receive deposit insurance claim amount of his/her deposits up to Rs 5 lakh from Deposit Insurance and Credit Guarantee Corporation (DICGC). As per the data submitted by the bank, RBI said about 99.96 per cent of the depositors are entitled to receive the full amount of their deposits from the DICGC. Giving details, RBI further said the bank does not have adequate capital and earning prospects, and its continuance is prejudicial to the interests of its depositors. "The bank with i

Protect market gains, book your profit: Top personal finance stories

Also this week, we write about why Indians love Frontier food

FSIB invites applications for deputy managing director in IIFCL

According to an official notification, the last date for submitting the completed online application is July 31

HDFC Bank's loan book shrinks in June quarter, deposits flat sequentially

The deposit book as of June 30 was Rs 23.79 trillion, almost flat compared to the previous quarter. Deposit growth was 16.5 per cent year-on-year, excluding the impact of the merger

Tyger Capital to list by next year, targets Rs 20,000 crore book

Gaurav Gupta said that in keeping with growing business, company expects to take on board 600 people in the current financial year as it is opening 60-65 new branches for broadening its network

Banks to see treasury gains in Q1 as government bond yields soften

Gains limited due to new investment norms

Fundamentals strong for global fintech

Funding for the sector hit a three-year low last year but revenues improved