Bank credit growth accelerated to 14.2% in the quarter ended June 2022 compared to 6% a year ago, RBI data showed.
After more than a year, RBI lifts restrictions on American Express Banking Corp and allows it to issue cards to new customers in India.
National Asset Reconstruction Co. Ltd will be paying its CEO a total remuneration of Rs 1.7 crore per annum.
Indian banks are increasing issuance of certificates of deposits (CDs) to secure cheap funding. The other option would be to raise deposit rates more sharply.
Aggressive expansion pursued by Adani Group has put pressure on its credit metrics and cash flow; in worst-case scenario, the group may spiral into a debt trap and possibly a default, warns CreditSights.
The largest claim of Rs 4,669 crore has been made by US-based Bank of New York Mellon; Bank of Baroda follows next.
Not wanting to be seen as being opposed to privatisation of banks, RBI clarifies that a paper by its researchers do not reflect its stand on the issue.
As on 31 March 2022, women constituted 21.7% of the workforce and the target is to increase it to 25% by 2025.
Stating that big bang privatisation of public sector banks can do more harm than good, RBI article asks government to take nuanced approach on this issue.
The payment systems include Immediate Payment Service, NEFT system, RTGS system and UPI. Debit cards, credit cards and Prepaid Payment Instruments are among the other payment instruments.
Bajaj Hindusthan Sugar reportedly owes around Rs 4,800 crore to banks such as the SBI, PNB, Indian Bank and Central Bank of India.
The minimum amount of loan offered by banks or FIs should be Rs 500 crore or in multiple of Rs 500 crore.
SBI plans to launch more such branches in different cities to spread the startup culture in India; bank to offer funding, treasury operations, advisory and other ancillary financial services through its diverse subsidiaries.
Retail inflation eases to lowest since March due to softening of food and crude oil prices; still above RBI’s upper limit of 6% for seventh straight month.
Loan recovery agents, hired by regulated entities including banks, NBFCs and ARCs, cannot intimidate or harass borrowers, RBI said.
