Page 9 - Finance Sector

UCBs see growth in outstanding credit portfolio due to demand, wider reach

Retail credit products have witnessed highest growth in last five years compared to commercial credit

RBI's change in project finance rules may sow the seeds of a future crisis

Given that the project does not generate any revenue at this stage, loan repayment generally starts after the construction is over and the project has begun operations

Govt once again extends tenure of FSIB chairman, other members by one year

The government has extended the tenure of the chairperson and other members of FSIB, the headhunter for directors of state-owned banks and financial institutions, by another one year. With the extension, chairperson and other members would continue to serve the Bureau till June 30, 2026. FSIB is headed by Bhanu Pratap Sharma, former secretary of Department of Personnel and Training (DoPT). The Appointments Committee of the Cabinet has approved the extension of the term of following incumbent chairperson and part-time members of the FSIB, for a further period of one year beyond June 30, 2025, that is with effect from July 1, 2025 up to June 30, 2026 or until further orders, an official notification said. The term of Financial Services Institutions Bureau (FSIB) was extended by one year last year as well. Other members of the headhunter are Animesh Chauhan, former chairman and MD of erstwhile Oriental Bank of Commerce, RBI's ex-executive director Deepak Singhal, and Shailendra Bhand

Writeoffs major factor for lower NPAs in past 5 years, says RBI report

RBI says SCBs' asset quality improved with GNPA at 2.3% in FY25, but unsecured retail loans saw elevated slippages led by private banks and higher write-offs

External spillovers likely to hit India's financial system: RBI report

Stress tests showed banks' gross NPA to rise under baseline scenario

International credit rating methods must evolve: FM Nirmala Sitharaman

FM Sitharaman says India's sovereign rating understates macro strength and urges reform in global rating criteria to unlock more private capital and lower financing costs

Fund Pick: Aditya Birla Sun Life outrunning rate hounds tactically

Nimble duration calls gave fund agility to sidestep rate shocks and seize yield pockets

China rolls over $3.4 billion of commercial loans to Pakistan: Report

Beijing rolled over $2.1 billion, which has been in Pakistan's central bank's reserves for the last three years, and refinanced another $1.3 billion commercial loan

Make GIFT IFSC competitive to attract HNI funds: FM Sitharaman

The minister who was in GIFT City, Gandhinagar for a high-level review of the IFSC's progress, emphasised the need to make it competitive

India Ratings sees FY26 credit growth at 13-13.5% amid NBFC drag

India Ratings expects credit growth to rise modestly in FY26, led by industrial capex and public bank disbursements, even as retail and NBFC lending cools

Govt extends Unified Pension Scheme option deadline to 30 September 2025

Eligible central government employees, retirees, and spouses of deceased retirees now have until 30 September 2025 to opt into the Unified Pension Scheme

Microfinance industry refashions itself amid opportunities and challenges

Central bank has taken a sympathetic view of institutions by easing some lending norms

Fixed deposit rates fall; Pickleball spreads: Top personal finance stories

Our newsletter this week has stories on what investors should do as deposit rates fall and why Pickleball is being called the 'people's game'

US insurers to more than double AI investment in 3-5 years: Wipro report

Most US insurers plan to raise AI share in IT budgets from 8 to 20 per cent over 3 to 5 years as they integrate AI into underwriting, compliance and customer services

Flexiloans raises ₹375 crore in Series C funding led by BII, others

With total funds raised at ₹665 crore over six months, Flexiloans will scale operations, boost technology and expand reach across India's underserved MSME sector

Change of stance to neutral doesn't mean pause on rate cut: Economists

The MPC, last week, cut the policy repo rate by 50 basis points (bps) to 5.5 per cent, surprising markets, which had largely priced in a more modest reduction of 25 bps

JM Financial gets 1.4 lakh sq ft of office space in Mumbai's Mulund

The ₹150-cr space allotment at Prestige Trade Centre stems from a 2020 insolvency resolution involving the defunct Ariisto Developers

An account of AI disruption in finance as technology reshapes work

OVER 50% of Indian accountants worry they are unable to develop skills due to frequently changing technology, according to a survey

Digital payments jump, but robust fraud management key to users' safety

A safe payment system will help further the goal of financial inclusion and achieve higher, sustainable economic growth

New DLG provisioning norms: Fintech bodies hope for relief from RBI

Collecting data from fintechs to substantiate likely impact of double-provisioning