Banking & Finance

NBFC debt crisis is starting to hit India’s consumers

Karan Dua, an electronics shop owner in south-central Mumbai, placed his hope of crackling sales on Diwali -- the Hindu festival of lights when Indians splurge on everything from clothes to cars and j

Ashok Chawla resigns as Yes Bank chairman

Private lender Yes Bank said Wednesday its non-executive Chairman Ashok Chawla has resigned with immediate effect.

RBI slaps these two banks with Rs 3 crore fine each over anti-money laundering norms

The Reserve Bank of India (RBI) has slapped monetary penalty of Rs 3 crore each on two banks for non-compliance with the directions issued by the central bank on Income Recognition and Asset Classifi

Modi launches APIX technology; what it is, how it will help 2 billion people without bank accounts globally

In a bid to reach two billion people worldwide who are still without bank accounts, Prime Minister Modi launched the APIX (Application Programming Interface Exchange), a banking technology platform in

RBI, govt in talks to ease lending norms to boost MSME credit flow

In order to enhance bank lending to MSMEs, the Ministry of Finance and the RBI are in talks to ease certain 'risk-weight' guidelines for lending to MSMEs and align them to globally accepted benchmarks

China’s biggest bank to invest $200 million in Indian SMEs

The Indian unit of China's largest bank, the Industrial and Commercial Bank of China has set up USD 200 million fund for investing in the promising Indian micro, small and medium enterprises and ventu

More pain seen in NBFC sector in next few months

The 50 largest NBFCs are looking for Rs. 700 billion in just the current month. The sector needs Rs 1.2 trillion in the current quarter and will have to refinance 40 percent of its debt over the next

IL&FS crisis aftermath: Steps for asset monetisation initiated

Announcement means an agreement struck in June by IL&FS’ erstwhile board to sell ISSL to IndusInd Bank is nullified.

UCO Bank Q2 net loss widens to Rs 1,136 crore as bad loans soar

State-owned UCO Bank Monday reported widening of net loss to Rs 1,136.44 crore for the second quarter of 2018-19, on rising bad loans.

PM Modi to launch banking solution for 2 billion people without bank accounts globally; key things to know

Prime Minister Narendra Modi will address some 30,000 people at the world's largest gathering of financial technology companies in Singapore this week and launch a banking solution for two billion peo

PNB Housing Finance obtains refinance sanction of Rs 3,500 crore from NHB

PNB Housing Finance Monday said it has obtained refinance sanction of Rs 3,500 crore from the National Housing Bank (NHB) in October 2018.

Backing RBI on NPAs, Arun Jaitley says minimising bad loans alone will ensure credit flow

Finance Minister Arun Jaitley on Sunday said minimising bad loans alone can ensure adequate credit flow to small businesses and the troubled NBFCs.

RBI seeks time till November 26 to respond to CIC’s show-cause notice

Slapped with a show-cause notice to its Governor Urijit Patel from the CIC, the Reserve Bank of India has sought time till November 26 from the commission, highest adjudicating body in RTI matters, fo

Despite increase in lending rates, NBFCs push credit demand by 14.4% to a five-year high

This growth is at a five-year high, after the 16.6 per cent achieved by the system in October 2013 and the data come amid reports of an increase in demand from the troubled non-bank finance companies

Rupay shines! From limited presence in 2013 to capturing half of market now; 3 reasons behind stellar rise

In a big boost to the Modi government, Rupay, homegrown card payment network, which constituted just 0.6 percent in market share in 2013, now controls half of the segment, ahead of Visa, Mastercard an

RBI vs Finmin: Fiscal deficit under control, didn’t seek Rs 3.6 lakh crore from central bank, says Garg

As the spotlight is on the central bank’s Nov 19 board meet, DEA secretary says its capital framework is under review.

Indian Bank Q2 profit slips 67 per cent at Rs 150 crore

State-owned Indian Bank Friday reported a 66.7 per cent dip in its net profit at Rs 150.1 crore for the second quarter ended September on account of increase in bad loans. Bank’s net profit in t

NBFC crisis poses more growth headwinds, says report

The ongoing crisis of confidence in non-banking financial companies (NBFCs) may prove to be a drag on economic growth, as balance sheet constraints and higher funding costs may prompt these shadow ban

Top 100 PSU Bank frauds: Gems & Jewellery, Aviation among 13 sectors hit hard

Even as PSU Bank frauds assume focus after the billion dollar PNB fraud, a recent report by Central Vigilance Commission (CVC) analyses top 100 frauds that has been committed in 13 sectors, including

NPA trouble: State-run banks require an urgent Rs 1.2 trillion in capital in the next five months, government to take a bulk of the tab, says Crisil

NPA trouble: If government decides to meet this need, this will put further pressure on the fiscal maths, thus its ability to meet the 3.3 percent fiscal deficit target for the current fiscal year. Al

MSMEs: Loan losses high in sector, but banks continue to lend

RBI data show defaults by MSMEs rose to 13.08% for PSBs at March-end this year against 12.56% last year.

IL&FS fallout: HFC stocks take a beating

Non-banking housing finance companies are facing a liquidity stress, and they need to review their funding model for sustainable growth, corporate affairs secretary Injeti Srinivas said on Monday.

Asset Quality improves: SBI net falls 40% to Rs 945 crore on low non-interest income

State Bank of India on Monday reported a net profit of Rs 945 crore in the September quarter of FY19, more than 40% lower on year-on-year (y-o-y) basis, as non-interest income fell 26% y-o-y to Rs 7,8

PNB Housing Finance Q2 net rises 33%

PNB Housing Finance Monday reported a jump of 33 per cent in consolidated net profit at Rs 252.99 crore in the second quarter ended September 2018.

SBI soon expect to see a Rs 6,000-crore write-back from Essar account: Rajnish Kumar, Chairman

State Bank of India (SBI) on Monday reported a profit of Rs 945 crore for the three months to September.

SBI returns to profitability with standalone net profit of Rs 945 crore in Q2; here are key reasons

The asset quality of the bank witnessed an improvement as the percentage of gross NPAs during the September quarter was reported at 9.95%, as against 10.69% in the previous quarter, and 9.83% in the c

IL&FS case: Government mulling options including crisis hit firm’s sale, says Corporate Affairs Secretary

IL&FS case: After exploring multiple options, the government is considering a sale of IL&FS as a way out for crisis-hit infrastructure lender, Corporate Affairs Secretary Injeti Srinivas said on Monda

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