Page 22 - Finance

Want to benefit from downturn in interest rates? Go for a dynamic bond fund

Investors who don't want to take interest-rate risk may avoid these funds

Chase India to set up SRO in light of recent crackdown on Chinese loan apps

Amid the government crackdown on illegal loan apps, research firm Chase India in a report on Tuesday proposed setting up a self-regulatory organisation (SRO) for the digital lending industry. The report on whitelisting framework for digital lending apps (DLAs) intends to support the industry, as it will add legitimacy to the practices and business operations of the DLAs, while simultaneously defining an appropriate regulatory approach in the sector. Chase India has prepared the whitelisting framework with inputs from industry stakeholders. The report also proposed adopting the framework as a standardised code of conduct for DLAs. It details the requirements for the DLAs' legal establishment, business operations, safe handling of technology and data, customer safety and grievance redressal, among others. Chase India suggested the formation of a self-regulatory organisation or dedicating a nodal agency within the regulator's purview for the digital lending industry. The report also

Large corporates will never be allowed to open a bank in India: N Vaghul

Large corporates will never be allowed to open a bank in India, veteran banker N Vaghul has said. Vaghul said India has learnt from its pre-bank nationalisation experience and will never repeat the same mistakes by allowing large corporations into banking. In the last round of licensing before it was made on-tap, a slew of corporates had unsuccessfully applied for a banking license. Two years ago, a RBI discussion paper made a case for allowing the large corporations because of their ability to get capital which will in turn fund economic growth. That discussion led to a raft of criticism by many, including former RBI top brass, and did not move ahead. Speaking to reporters, Vaghul suggested that the capital needed for economic growth will come from the public, which is keen to invest in a lender which is run professionally. Industrial houses "cannot be banking", Vaghul said, recalling the past experiences with them and how state ownership of banks became popular. "There used to

Creating a bigger reach very important in MSMEs: Shriram Finance exec VC

We have been talking to various interested parties, but there is no fixed plan to sell 15 per cent at any point of time, says Umesh Revankar, executive vice chairman of Shriram Finance

Godrej Consumer to Axis Finance: Companies announce raising more funds

The list includes names like Muthoot Finance, IIFL Finance, and Magnite Developers, as well as banks like Canara Bank

RBI removes restrictions on individuals from opening interest-earning FCAs

The long-awaited amendment by the RBI now puts IFSC at par with other jurisdictions when it comes to remittances

First Republic Bank plans $100 bn asset sale to shore up balance sheet

In addition to selling assets, the bank also plans to focus on loans that can be sold on the secondary market

Bank of America profit rises as it cashes in on higher interest rates

Bank of America's net interest income, which reflects how much money the bank makes from charging interest to customers, rose 25% to $14.4 billion in the quarter

BlackRock's assets seen topping $15 tn in 5 years' time: Morgan Stanley

The gains are likely to continue, according to Morgan Stanley analyst, raising BlackRock's price target to $861 from $829, the second-highest among analysts tracked by Bloomberg

SME loan defaults to rise for NBFCs in the coming quarters: Moody's

Hardening interest rates, cost pressures make SMEs vulnerable

The F word in Indian banking

At the moment, banks give an opportunity of hearing to wilful defaulters but not fraudsters

DFS urges states, UTs to deepen micro-insurance schemes in 3-mth campaign

Currently, active enrolments under PMJJBY and PMSBY stand at 83 million and 239 million, respectively, and claims of about Rs 15,500 crore have been paid under both schemes

Wealth creation is simple but not easy, requires discipline

Clients often fall back into old habits and require motivation to stay on track. Financial planning professionals also provide support during in inevitable setbacks

Fasten your seat belts: The switch to Fintech 2.0 has just begun

A shakeout among fintech firms is very likely, as the stress on governance and compliance is set to go up many notches

LIVE: We will work towards inflation target of 4%, says RBI Governor

Catch all the updates of the live address by Reserve Bank of India's Governor Shaktikanta Das on the decision by the Monetary Policy Committee on repo rate

Stronger buffers for Indian bank deposits as world faces financial crisis

Customer confidence may improve if recovery time, insurance coverage is better

Make part-prepayments to cut home loan tenor, but don't use retirement fund

Another option is to switch to another lender who is willing to refinance at a lower rate

Investment banker Sudha Shivkumar is now president of Ficci women's wing

As 40th President of FLO, she will focus on empowering women by facilitating an enabling environment that promotes entrepreneurship, industry participation and economic development of women

From insurance policies to MFs, here are the new tax rules from April 1

What changes: Tax on proceeds from high-value insurance policies, higher tax on debt MFs and more

Capital adequacy ratio norms enforcement for UCBs advanced to FY23-end

According to UCB executives, the RBI's move may put banks in a difficult position as only a few days are left to refigure the norms' enforcement