MFIs shouldn't sacrifice social mandate at altar of growth: RBI dy governor
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M Rajeshwar Rao urges them not to forget sector's original mandate of financial inclusion, as over-indebtedness by borrowers, coercive recovery would roll back gains achieved over the years
MFIs should not throw caution to wind for higher asset growth: RBI DG Rao
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The Deputy Governor said MFIs should focus on understanding the needs of customers first and offer them adequate level of support through appropriate financial products.
Indian banking sector to witness new round of consolidation: Acuite Ratings
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The rating agency said this consolidation is eminent because many small sized private banks continue to face chronic asset quality problems which constrain their capital availability
Banks process nearly 2 mn e-mandates for auto-payment after RBI order
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Industry estimates recurring transactions at 2.5% of total volume, and 1.5% in terms of value. Of these, 75% domestic transactions, and 85% international are below Rs 5,000
Indian Rupee recovers 12 paise to end at 74.96 against US dollar
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The rupee snapped its two-session losing streak to settle 12 paise higher at 74.96 (provisional) against the US dollar on Tuesday, tracking a positive trend in domestic equities.
At the interbank forex market, the local unit opened at 75.05 against the green
Banks extend Rs 11,168 cr loans in outreach programme during festive season
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Public sector and private banks have sanctioned over 193,000 loans via 924 camps in 405 districts from October 16-20, FM Nirmala Sitharaman says in Tweet
Banks extend Rs 11,168 crore loans in outreach programme
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Public sector and private banks have sanctioned over 193,000 loans via 924 camps in 405 districts from October 16-20, FM Nirmala Sitharaman says in Tweet
ICICI Bank shares zoom 11% after record Q2 profit; m-cap jumps Rs 57k cr
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Shares of ICICI Bank on Monday jumped over 11 per cent after the company reported its highest ever quarterly profit on standalone basis at Rs 5,511 crore in the September quarter.
The stock jumped 10.80 per cent to close at Rs 841.05 on BSE. During the day,
Centrum-Bharatpe JV small finance bank to begin operations shortly
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The first branch of Unity Small Finance Bank, joint venture between Centrum Group and Bharatpe, will be up and running shorty from city with Rs 1,500 cr growth capital and a Rs 1,300-cr loan book
Indian Rupee settles 18 paise lower at 75.08 against US dollar
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The rupee ended 18 paise lower at 75.08 (provisional) against the US currency on Monday due to a spike in crude oil prices and a stronger greenback against key rivals overseas.
At the interbank forex market, the local unit opened on a weak note at 74.98 and
RBI announces new scale-based regulatory guidelines for NBFCs
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The new framework will have a four-tier structure with only about 25 to 30 of the 9,000-plus NBFCs in the top two tiers with the strictest regulations.
MPC: RBI remains laser-focused to bring back inflation to 4%, says Governor
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The central bank has been mandated by the government to ensure the Consumer Price Index (CPI) based inflation is at 4 per cent, with a band of 2 per cent on either side
Federal Bank Q2 consolidated net profit jumps 55% to Rs 488 crore
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Private sector lender Federal Bank on Friday reported nearly 55 per cent jump in its consolidated net profit at Rs 488 crore for the second quarter of this fiscal ended September 30
Subscription to sovereign gold bond to open on October 25
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The next tranche of Sovereign Gold Bonds 2021-22 will be open for subscription for five days from October 25, the finance ministry said in a statement on Thursday
PSU banks likely to get capital support in Q4 to meet regulatory needs
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The government is likely to pump capital in public sector banks during the last quarter of the current financial year to meet the regulatory requirements
YES Bank to take 2 more years to stabilise, says former SBI chief
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In his book titled 'The Custodian of Trust', Rajnish Kumar said that SBI was reluctant to play the lender of last resort role for YES Bank but circumstances compelled it to rescue the private lender
