Ban on Asirvad Micro Finance, Arohan Financial Services, DMI Finance and Navi Finserv is effective from close of business on 21 October.
NIM rises to 3.98% in Q2 from 3.88% a year ago; Bank of Maharashtra MD Nidhu Saxena says net profit for FY25 is expected to cross Rs 5,000 cr.
Reserve Bank of India leaves benchmark repo rate unchanged at 6.5% for tenth consecutive time but changes policy stance to neutral from withdrawal of accommodation.
RBI Governor Shaktikanta Das has warned of action against those NBFCs who are pursuing “growth at any cost” that could pose a risk to the economy’s financial stability.
RBI increases limit of UPI Lite wallet to Rs 5,000 from existing Rs 2,000; per-transaction limit also raised to Rs 1,000 from Rs 500.
RBI has proposed banks and NBFCs not to levy foreclosure charges or pre-payment penalties on floating rate term loans sanctioned to micro and small enterprises.
Vaidyanathan will hold the position of IDFC First Bank MD & CEO for three years, from 19 December 2024 to 18 December 2027.
Reserve Bank of India imposes penalties totalling Rs 2.91 crore on Axis Bank and HDFC Bank for lapses in statutory and regulatory compliance.
The move from collaterals to cash flow-based lending will give enough traction to the growth of micro enterprises to become small and small to become medium, says SBI chairman CS Setty.
Correction in equity markets over time can help banks get back the deposits it has ceded, SBI managing director Ashwini Kumar Tewari said.
RBI tightens norms for non-banking financial company-peer to peer lending platforms, barring them from taking any credit risk, offering credit enhancement or providing guarantees.
Banking Laws (Amendment) Bill, 2024, introduced in Lok Sabha; among other changes, it proposes to allow customers of banks to name up to four nominees to their accounts.
Dilemma HDFC Bank faces today is growth versus profitability even as CD ratio is high at 110% and liquidity is tight in banking system; in post-merger scenario, bank needs deposits to outpace loan growth.
RBI has many reasons to feel that project financing is fraught with risks; bankers say draft is hurriedly sewn and, if implemented, prices would go up all around.
Unclaimed deposits with banks have jumped 26% year-on-year to Rs 78,213 crore at the end of March 2024, as per the RBI Annual Report.
Some ARCs are following wrong practices of evergreening distressed loans; in extreme cases this may call for regulatory or supervisory actions, RBI Deputy Governor Swaminathan Janakiraman says.
Despite RBI allowing on-tap licensing, CEOs of small finance banks say they would lower their unsecured loan portfolio before transitioning to universal banks.
Canara Bank ready to shed Rs 70,000 of low interest rate corporate loans to protect margins as it expects liquidity to be tight this fiscal; repricing of loans already started, says CEO Satyanarayana Raju.
Indian Bank CEO Shanti Lal Jain sets stiff targets on recovery, loan growth and deposit expansion; aim is to cross Rs 1 lakh cr biz transactions through digital channels in FY25.
Public sector banks’ NPAs on Mudra loans fell significantly over last few years to 3.4% in FY24, FM Nirmala Sitharaman said; in private sector banks, this fell to 0.95% from a peak of 1.77% in FY21.