UPI records phenomenal growth, other nations keen to learn us: Panda
newsdepo.com
Several countries have shown interest to learn from Indian experience so that they could replicate the model: Financial Services Secretary Debasish Panda
Physical bank branches will continue to play key role in rural areas
newsdepo.com
Kotak Mahindra Bank Joint Managing Director Dipak Gupta said although retail customers have adopted phygital very fast, the non-retail customers are still dealing in cash.
RBI Governor Shaktikanta Das says will bring financial inclusion index soon
newsdepo.com
Financial inclusion will continue to be the policy priority for the central bank, to make the post-pandemic recovery more inclusive and sustainable, Das said
MFI sector's credit cost seen at 5-10% in FY22: India Ratings and Research
newsdepo.com
India Ratings and Research revised upwards its credit cost estimate for microfinance institution (MFI) sector to 5-10 per cent in the current financial year compared to earlier 3-6 per cent
Credit costs of MFIs may surge up to 10% by March 22, says Ind-Ra
newsdepo.com
In May 2021, the rating agency had predicted that overall the microfinance sector's collections could drop by a cumulative 10-15 per cent during the month compared to March 2021
RBI governor warns of downsides to direct financing of govt fiscal deficit
newsdepo.com
Direct financing or monetisation of the government's fiscal deficit by the central bank has several downsides, Reserve Bank of India Governor Shaktikanta Das said
RBI chief warns of downsides to direct financing of gov't fiscal deficit
newsdepo.com
Direct financing or monetisation of the government's fiscal deficit by the central bank has several downsides, Reserve Bank of India Governor Shaktikanta Das said
RBL Bank enters into agreement with Visa for issuing credit cards
newsdepo.com
The bank is expecting to start issuing credit cards on the Visa payment network post the technology integration, which is expected to take 8 to 10 weeks
No senior-level resignations, says Axis Bank in response to rumours
newsdepo.com
«We believe this has been done with the intention to damage the reputation of the bank and mislead the stock markets and the public in general,» Axis Bank said in a regulatory filing
RBI proposes tweaks to capital-raising guidelines for urban co-op banks
newsdepo.com
The UCBs, it said, could raise share capital by issue of equity to persons within their area of operation enrolled as members and also through additional equity shares to the existing members.
India's microfinance sector hit as defaults surge in Covid pandemic
newsdepo.com
Loan collection efficiency across the total loan pool has fallen to about 70% from a peak of nearly 95% in March, analysts say, indicating a potential build up in stress.
RBI restricts Mastercard from onboarding new domestic customers
newsdepo.com
The company has been found to be non-compliant with the directions on Storage of Payment System Data. However, these curbs will not impact existing customers
42% NBFCs expect over 15% growth in AUM in FY2022, says Icra survey
newsdepo.com
Around 42 per cent of non-banking financial companies (NBFCs) expect a growth of more than 15 per cent in their asset under management (AUM) in fiscal 2021-22, says an Icra Ratings survey.
Ujjivan, Equitas promoter holdings to fall to zero post mergers with SFBs
newsdepo.com
Predictably, share prices of Ujjivan Financial Services, and Equitas Holdings jumped 20 per cent each after the two entities received the nod to reverse merge with their small finance bank entities
Rupee depreciates 12 paise to 74.61 against US dollar in early trade
newsdepo.com
The Indian rupee depreciated 12 paise to 74.61 against the US dollar in opening trade on Wednesday as firm American currency and weak domestic equities weighed on investor sentiment
Need food, farm subsidy reforms to improve fiscal position: Finance Secy
newsdepo.com
Finance Secretary T V Somanathan on Tuesday underlined the need for improving the fiscal position of the government through reforms in farm, food and fertilizer subsidies
Credit card buys seen 8% lower in Apr-June quarter, say analysts
newsdepo.com
Among players in the credit card segment, HDFC Bank, despite a ban on issuing new credit cards, retained a sizeable, and, perhaps, the largest market share in spends, at 27 per cent in May.
Rupee strengthens 14 paise to 74.44 against US dollar in early trade
newsdepo.com
The Indian rupee strengthened by 14 paise to 74.44 against the US dollar in early trade on Tuesday, tracking a firm trend in the domestic equity market
HDFC Bank's loss is ICICI Bank's gain on credit cards: Check details here
newsdepo.com
Between December and May, HDFC Bank's credit card kitty saw a drop of 528,447 cards while that of ICICI Bank increased 1.16 million, the highest by any lender during the period
PNB Housing to SAT: Sebi can't compel us as AoA is just a contract
newsdepo.com
It argued that AoA cannot override the Sebi's ICDR (Issue of Capital and Disclosure Requirements) regulations, which listed firms have to follow for issuing preferential allotments
RBI offers hassle-free trading in govt bonds for retail investors
newsdepo.com
Online portal will give access to the bond trading platform available for institutional investors; retail investors can also bid for bonds in primary auctions as large institutions do
Banks explore the option of invoking personal guarantee of promotion
newsdepo.com
Armed with Supreme Court order, banks may invoke personal guarantees of tycoons ranging from Venugopal Dhoot to Kapil Wadhawan to recover unpaid loans from their delinquent firms, sources said Monday.
Rupee pares early gains to settle 6 paise higher at 74.58 against US dollar
newsdepo.com
The rupee pared some of its initial gains and settled 6 paise higher at 74.58 (provisional) against the US dollar on Monday, ahead of the release of key inflation data.
Exim Bank lends $35.26 mn for Senegal power project executed by Kalpataru
newsdepo.com
Exim Bank of India said it has extended a $35.26 million loan for a power transmission project being executed by Kalpataru Power Transmission in Senegal
