‘Data helped us expand borrower base in supplier finance segment’:
The use of data and analytics has enabled Citi to expand its borrower base in the supplier finance vertical in India, said Mridula Iyer, head - treasury & trade solutions (TTS), Citi South Asia.
Large Public Sector Banks speed up digitisation in the post-merger new normal
PSBs had a large customer base even before the mergers took place over the last few years, but the expansion in that base helps justify the cost of digitisation.
RBI makes interoperability mandatory for all wallet, PPI issuers
RBI governor Shaktikanta Das expressed displeasure with the lack of effort on the part of industry players to voluntarily move towards interoperability.
RBI announces secondary market purchase of g-secs worth Rs 1 lakh crore
To meet the funding requirements of micro, small and medium enterprises (MSMEs), the Small Industries Development Bank of India (SIDBI) will be sanctioned Rs 15,000 crore under this facility for a period of up to one year.
Union Bank of India looking to digitise recovery processes
Union Bank of India is looking to digitise and automate its recovery processes, according to a tender document issued by the lender.
SBI to revamp MSME lending ops to increase efficiency
“With the objective of becoming banker of choice for MSMEs, SBI intends to improve existing processes and structure in the SME space for achieving improvement in market share/enhance the portfolio while ensuring the asset q
‘Our credit cost will be restricted around 2.5%’
The demand has been quite good, though there was a slowdown in January. It picked up in the second half of February and March is being quite good.
NBFCs ask RBI for refinance facility to reduce dependence on banks
The NBFCs in the proposed BL (base layer) and ML (middle layer) suffer at present due to this rigidity of credit rating templates followed by the rating agencies,” the FIDC conveyed to the RBI in a letter dated February 12,
‘RuPay’s market share by volumes is 34%’
E-commerce is a very significant driver, but we are also seeing a lot of other interesting categories emerge. For example, we now have some of the bus transport corporations going live on UPI.
NPCI to launch new digital payments product for feature phones
March 20, 2021: In 2020, NPCI, CIIE.CO and the Bill and Melinda Gates Foundation had together launched a hackathon for the creation of a feature phone-based payments solution.
Fix systems to reduce failures, banks urge non-bank partners
In 2020, massive on-boarding of new digital users onto payment platforms was accompanied by outages in bank systems and resultant transaction failures.
Retail stress hits private banks hardest: Govt data
Private banks typically lend to employees from the private sector and to self-employed people, all of whom have been hit harder by the Covid-19 pandemic.
Banks put up Rs 5,140 crore of NPAs for sale in Q4FY21
While banks have historically sold large NPAs to ARCs, this year they are looking for buyers for even smaller loans, including housing and education loans.
Stress has peaked out in microfinance: R Baskar Babu, MD & CEO, Suryoday Small Finance Bank
So as long as they are paying, it indicates that the customers will end up being good customers, except that for a two-year loan they’ll end up paying in two years and three months or four months.
Zero merchant discount rate (MDR): Peer-to-merchant (P2M) volumes more than debit cards
UPI had been known more for running up high volumes in peer-to-peer (P2P) payments with the P2M piece accounting for 20-30%. That seems to have changed with social distancing norms and lockdowns across the country compelling
As balance transfers rise, HFCs reprise demand for foreclosure charges
The incidence of customers shifting their balances from non-banks to banks has become particularly pronounced in FY21, as the repo-linked pricing regime and huge surplus liquidity allowed banks to reduce interest rates much f
We will end FY22 with Rs 6,000-crore loan book, says Ravi Subramanian, MD & CEO, Shriram Housing Finance
"We are clear that there are six states we want to dominate – AP (Andhra Pradesh)-Telangana, Tamil Nadu, Karnataka, Rajasthan, Madhya Pradesh and Chhattisgarh in the affordable housing space. In NCR (National Capital Region
Bank of Baroda document shows stress may be higher than foreseen
To be fair, the BoB management has signalled that the restructuring scheme may have been unable to address stress in the retail and micro, small and medium enterprises (MSME) segments, and there may be pain ahead.
Govt to earn more from deposits by opening business to pvt banks
Mrutyunjay Mahapatra, former MD & CEO, Syndicate Bank, said that the cost of deposits for the banking system as a whole is likely to rise because the private sector banks will now compete for government deposits.
Ahead of new ARC formation, Punjab National Bank to sell Arcil stake
“PNB has initiated a sale process to offer its holding of 3,25,06,486 equity shares i.e. 10.01% of the paid-up equity share capital of ARCIL (“proposed transaction”). PNB Investment Services Limited is the advisor to PN
Zero-MDR regime: Govt sites skip netbanking, foreign card schemes
At the same time, the disappearance of netbanking and card payment options for a section of users is causing great inconvenience.
High volumes, multiple hops push up digital payment failures
To put this in perspective, two years ago, the amount being processed through cards was $100 billion, but today over UPI it is of the order of $1 trillion.
Phased withdrawal of CRR cut, lack of OMO hints disappoint markets
Governor Shaktikanta Das observed that the market is at times prone to misjudging the RBI’s actions and reacting in haste, before arriving at a full assessment of them.
New Asset Reconstruction Committee: Banks likely to ask RBI to relax norms
The new ARC will have the advantage of the loan exposures being clubbed across banks, although this, too, is prone to challenges.
Governance structures, liability key to DFI success
Govt will have to play as provider of capital and as facilitator of policy tweaks like credit enhancements for projects financed by DFI
Tax sops on affordable housing to help homebuyers, NBFCs
Union Budget 2021 India: The extension of the sops would also help improve the performance of non-bank lenders, who are the chief providers of credit to both developers and buyers of affordable homes.
Union Budget 2021: Recap plan, DFI to ease banks’ capital positions
Union Budget 2021 India: DFI is meant to enable PSBs to reduce exposure to infra projects and enhance credit to other industries
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Top News
- FM asks IRDAI to act against insurers for denying cashless COVID-related claims by insurance companies
- Fitch Ratings affirms BBB- rating, says COVID-19 surge may delay economic recovery
- CLCSS: Small businesses supported in FY21 under technology upgradation scheme highest in five years
- Amid Covid-19 surge, what would be the best investment options in 2021?
- COVID-19 vaccination: Vaccinate banking staff on priority basis, Finance Ministry tells states
- April 24 or April 28 - When is CoWin registration opening for May 1st Covid vax drive? 5-point guide
- China offers support, assistance to India to combat rising COVID-19 cases
- Covid-19 vaccination: Vaccinating everyone above 18 years to cost just 0.36% of GDP, says India Ratings
- Lenders to Kishore Biyani's Future Group to withdraw debt recast if RIL deal goes through
- Rights issue: Sebi puts in place new guidelines on refund for un-allotted, partially allotted applications
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