The Reserve Bank of India (RBI) grossly underestimated costs for revamping the country’s ATM infrastructure, while drafting circulars for the same, shows a report unpublished by the central bank and obtained through a Right
The announcement comes days after State Bank of India’s (SBI) decision to laterally hire a chief financial officer (CFO) who would be a certified chartered accountant, in line with regulatory guidelines.
Lenders say the current high-risk environment necessitates tighter the underwriting standards. Ramesh Iyer, Vice Chairman and Managing Director, Mahindra Finance, told The Financial Express that the scheme being offered by th
While processing and switching fees have been considered a regular practice for years now, the new repo-linked pricing regime being followed by banks has brought the stark difference in rates into relief. Banks have already s
The impact of pay cuts and job losses, a disruption in collections and also the masking of high-risk borrowers by the moratorium could all come together to increase the stress in the retail segment, bankers and industry exper
Harshil Mathur, CEO and co-founder, Razorpay, said with the situation starting to ease out in parts of the country, the payments firm has seen a spike in transactions in the last few days, particularly in e-commerce.
All of them provided aggressively in view of the Covid-19 outbreak and the repayment moratorium, which also requires pre-emptive provisioning. Some red-flagged risks that could arise out of the retail unsecured segment.