Fusion MicroFinance plans to cut its bank funding share to 55-60% The first focus for the Gurugram-based BSE listed lender is to bring down the share of bank funding in resources to 76-77 per cent in the near term

India's forex reserves drop $462 million to $590.321 billion: RBI India’s forex kitty decreased by USD 462 million to USD 590.321 billion for the week ended November 10, the Reserve Bank said on Friday. In the previous reporting week, the overall reserves had increased by USD 4.672 billion to USD 590.783 billion. In October 2021, the country’s forex kitty had ...

RBI sets price for premature redemption of SGBs at Rs 6,076 per unit The Reserve Bank of India (RBI) on Friday said the price for premature redemption of Sovereign Gold Bonds (SGBs), due on November 20, will be Rs 6,076 per unit. “The redemption price for the premature redemption due on November 20, 2022 shall be Rs 6,076 per unit ...

NBFC assets to grow 25-30% in FY24-25, caution on unsecured loans: Icra Non-bank lenders are set to report growth of 25-30 per cent in their Assets Under Management (AUMs) in FY24 and FY25, a domestic rating agency said on Thursday. Icra Ratings, which made the growth estimate for Non-Banking Financial Companies (NBFCs) having AUMs of up to Rs 10,000 crore, ...

RBI imposes penalty on Axis Bank, Manappuram Finance for violating norms The central bank imposed a monetary penalty of Rs 42.78 lakh on Manappuram Finance on account of failing to adhere to certain regulations

Insurers must curb product mis-selling: Insurance Ombudsman Delhi Insurance companies have to keep a check on incidents of mis-selling, Insurance Ombudsman Delhi region Sunita Sharma said on Monday. Stressing that customers are the king and insurers are in existence because of customers, she said companies should avoid mis-selling products. Sharma, a former LIC MD, said usually companies engage customers till ...

Rupee little changed as RBI support aids, inflation data in focus While state-run banks were supplying dollars in the spot market even on Monday, traders said it was difficult to ascertain whether it was for their clients or for the RBI

Fund pick: Nippon India Large Cap Fund pick of Nippon India Large Cap

Rs 5,000 cr sovereign green bond sale to test demand amid higher rates The debut sale in January raised 80 billion rupees, garnering a so-called greenium of six basis points over the benchmark yield

Fintech may emerge as substitute for traditional banking: RBI's CAFRAL CAFRAL is a non-profit organisation set up by the RBI in 2011 to promote research and learning in banking and finance