Reduction in NPAs for PSBs due to write-offs at Rs 1,31,894 cr in FY21: RTI
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Reduction in non-performing assets (NPAs) due to write-offs for public sector banks (PSBs) stood at Rs 1,31,894 crore during fiscal 2020-21, according to an RTI response.
Central Bank to seek shareholders' nod to set off loss of Rs 18,724 cr
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Central Bank of India will seek shareholders' approval in its ensuing annual general meeting next month to set off accumulated loss of over Rs 18,724 crore from the share premium account of the bank.
How the Mastercard incident highlights need for regulating digital trade
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The Indian central bank pulled the plug on the US payments network for alleged noncompliance with its controversial local data storage rules introduced three years ago
RBI remains net purchaser of US dollar in May; buys $5.84 billion
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The Reserve Bank of India (RBI) remained net buyer of the US dollar in May 2021, after it net purchased USD 5.842 billion from the spot market, according to data from the central bank.
In the reporting month, the RBI purchased USD 7.142 billion while sold US
Bank credit grows by 6.08% ; deposits increased by 9.76%
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Bank credit grew by 6 per cent to Rs 109.31 lakh crore and deposits increased by 9.76 per cent to Rs 154.51 lakh crore in the fortnight ended July 2, 2021, RBI data showed.
Next purchase of G-secs worth Rs 20,000 cr under G-SAP 2.0 on July 22: RBI
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RBI on Thursday said the next purchase of government securities for an aggregate amount of Rs 20,000 crore under the G-sec Acquisition Programme (G-SAP 2.0) will be conducted on July 22
UPI records phenomenal growth, other nations keen to learn us: Panda
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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
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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
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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
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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
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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
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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
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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
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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
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«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
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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
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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
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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
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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
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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
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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
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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
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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
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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
