Why are government and regulators uneasy about fintech’s rise? Taking note of a host of complaints, the Reserve Bank of India had come out with the first leg of the digital lending norms in August. It allowed loan disbursals only by entities regulated by the banking regulator. The government too recently launched a cracked down on several illegal ...

Rupee sheds 0.3% as US dollar soars ahead of Fed’s policy statement The rupee weakened 0.3 per cent versus the US dollar on Wednesday as the greenback strengthened globally ahead of a likely 75-basis-point rate hike by the US Federal Reserve, dealers said. The rupee settled at 79.98 per US dollar as against 79.76 per dollar at ...

Idea is to generally link credit cards with UPI: RBI executive director While the Reserve Bank of India (RBI) has started linking credit cards with Unified Payments Interface (UPI) and RuPay credit cards, in all probability the central bank will allow the same for other card networks such as Visa and Mastercard, too. Speaking at the Global ...

SBI raises Rs 4,000 crore via tier-2 bonds at cutoff rate of 7.57% The country’s largest lender, State Bank of India, announced on Wednesday that it has raised an amount of Rs 4,000 crore through tier-2 bonds at a cutoff rate of 7.57 per cent. “The issue attracted an overwhelming response from investors with bids of Rs ...

TMB stock ends flat as RBI rejection of proposed chairman has little impact The stock of Tamilnad Mercantile Bank (TMB) closed flat today, perhaps taking in its stride the Reserve Bank of India’s rejection of the private lender’s proposal to appoint board member B Vijayadurai as its chairman. The bank said in filing with BSE last night ...

Can Sukanya Samriddhi Yojana (SSY) account be closed before maturity? [ad_1] Sukanya Samriddhi Yojana account is a special scheme for a girl child that aims at securing her future financially. By investing in the SSY scheme you can get section 80C income tax benefits and the returns are also tax-free. When can the account be opened? When opening a Sukanya ...

Govt norms ensure no one makes money in payments space: Axis Bank head Private sector lender Axis Bank on Wednesday said government mandates on the payments space ensure that no one can make money in the segment. The bank’s chief executive and managing director Amitabh Chaudhry feared that smaller entities will not be able to survive amid ...

Emergency loans for bad credit and urgent same day loan approval in September 2022 [ad_1] Borrowers the world over will agree that the best emergency loans are those that are quick and easy to apply for and are approved and paid out without digging too deeply into your credit history. For a long time, those who were in need of ...

25% micro credit customers graduated to SMEs since Covid: Bandhan Bank MD Let alone meeting repayment targets, around 25 per cent of Bandhan Bank’s micro credit customers graduated to become small and medium enterprise (SME) loans in the last couple of years amid pandemic. According to Bandhan Bank’s founder Managing Director and Chief Executive Officer Chandra Shekhar ...

6 facts about order book for security market [ad_1] 6 facts about order book for security market [ad_2]