Page 29 - Finance Sector

Central banks in a cashless world

A central bank can serve as more than just a regulator, by influencing or even creating shared infrastructure

RBI proposes 'digital-view' of loans to ensure transparency to borrowers

A digital view will provide a host of details to ensure that customers have prior information about potential lenders to make an informed decision on a loan product

Shriram Finance Q4 results: Net profit rises 57% to Rs 2,021.28 crore

The gross non-performing asset (NPA) for the quarter reduced to 5.45 per cent, compared to 5.66 per cent in Q3 and 6.21 per cent during the Q4 of FY23

Bank of Maharashtra Q4 results: Net profit up 45% at Rs 1,218 crore

Public sector lender mulls Rs 7,500 crore equity capital raise

RBI releases draft guidelines for web aggregators of loan products

While LSP can adopt any mechanism to ascertain the willingness of the lenders to offer a loan, the RBI said it should follow a "consistent approach" that must be disclosed suitably on their website

IndusInd Bank Q4 results: Net profit rises 15% to Rs 2,349 crore

The lender spends 8 per cent to 10 per cent of its cost to income on IT-related expenditure

RBI directs Talkcharge to stop PPI, wallet issuance; refund balances

The fintech firm offers services such as cashbacks, coupons, and wallets to customers

Axis Bank Q4 results: Reports net profit at Rs 7,130 crore, NII rises 11%

Axis Bank reported net loss of Rs 5728.42 crore in the same period of the previous year

DCB Bank Q4 results: Net up 9% at Rs 156 cr, board approves Rs 500 cr QIP

The capital adequacy ratio of DCB Bank stood at 16.59 per cent with Tier-I at 14.53 per cent at the end of March 2024

CD issuances fall significantly in April as liquidity conditions ease

Total CD issuances amounted to around Rs 19,850 crore as of 21 April, a significant decrease from the Rs 1.2 trillion worth of issuances in March

Retirement: Embrace holistic planning

Comprehensive planning would include managing anxiety, identity loss, and loneliness; creating a comprehensive health routine; tackling social and relationship issues

When the RBI listens and communicates to bring change in the system

Regulation-making has become collaborative with changes first being brought in the form of a discussion paper or a draft circular

HDFC Bank's Rs 1,500 crore ex-gratia a gesture of employee appreciation

The one-time ex-gratia payment is a way to motivate the young workforce, said HDFC Bank CEO

Andromeda plans Rs 1 trillion loan disbursal in FY25 as demand rises

The home loan business of the company surged to approximately Rs 33,918 crore in FY24, up by over 22 per cent from Rs 27,798 crore in FY23

Jio Financial Services Q4 results: Net profit jumps 6% to Rs 311 crore

Jio Financial Services shares on Friday ended 2.17% lower at Rs 370 on BSE

Andromeda expects 20% growth in loan disbursals, aims for Rs 1 trn in FY25

Loan distributor Andromeda expects around 20 per cent growth in loan disbursals to around Rs 1 lakh crore during the current fiscal, driven primarily by mortgage demand. Loan disbursals have seen a 23 per cent growth to Rs 75,397 crore in FY'24, from Rs 60,000 crore in the previous fiscal, Andromeda Sales and Distribution Pvt Ltd Co-CEO Raoul Kapoor said. Despite the increase in housing prices, the demand for housing loans remains robust, he said, adding, the average ticket size of housing loans has witnessed an increase. In addition, he said, digitalization, faster approvals, and increased availability and flexibility have fueled higher demand for personal loans. The home loan business surged to approximately Rs 33,918 crore in FY24, up by over 22 per cent from Rs 27,798 crore in FY23. In FY24, he said, the loan against property distribution was at Rs 24,776 crore, an increase of 10.33 per cent from the preceding year's Rs 22,456 crore. Meanwhile, business loans experienced a no

Klub and U GRO Capital sign partnership to disburse Rs 150 crore

The allocated fund of Rs 150 crore will facilitate lending activities across the country while offering debt financing of up to Rs 30 crore in a single tranche through Klub's platform

RBI mandates offline payment aggregators to verify KYC for merchants

Payment aggregators will need to conduct Contact Point Verification and verify the bank account where funds of small merchants are settled

IIFL Finance board approves rights issue to raise Rs 1,271.83 crore

The issue price for the rights offer is Rs 300 per share, which is at a 29% discount to closing price of Rs 421.7 per share on Tuesday

RupeeQ aims Rs 300 cr loan disbursement portfolio on rural expansion

Home-grown platform for online loans and credit cards RupeeQ aims to treble digital loan disbursements portfolio to Rs 300 crore by 2027 on the back of government's push towards high-speed internet services in semi-urban and rural areas. Talking to PTI, Neeru Puri, Managing Director and Chief Financial Officer of RupeeQ, said, "It is estimated that total value of digital lending business in India will exceed USD 1 trillion over next 5 years. At RupeeQ, we expect to treble our loan disbursement portfolio by 2027, while in fiscal 2023-24 we clocked about Rs 100 crore." According to reports, India shall have 900 million active internet users by 2025, while 56 per cent of all new internet users will be from rural areas, and 65 per cent of new internet users will be female. Puri opined that the government's push on digitalisation and penetration of high-speed internet even in semi-urban and rural areas will help the company materialise its goal. Puri said the digital lending space in