RBI proposes lenders identify 'wilful defaulters' within six months The regulator proposed that non-banking finance companies (NBFCs) should also be allowed to tag accounts using the same parameters

'No distress', people investing in other fin products, says FinMin The finance ministry on Thursday dismissed the criticism over the impact of declining household savings on the economy, saying people are investing in different financial products and “there is no distress”. The statement posted on X by the ministry brushed aside critical voices raised with regard to the decadal fall ...

Household savings fall to decades low, borrowing rises: RBI data Annual financial liabilities of households increases by 5.8% of GDP

Shree Cement to issue NCDs worth Rs 700 cr on pvt placement basis Leading cement company Shree Cement said on Tuesday that it is planning to issue Non-Convertible Debentures (NCDs) worth Rs 700 crore on a private placement basis. The company’s board of directors will consider approving the issuance of NCDs on September 25. The fundraising plan is expected to ...

Surety bonds must complement bank guarantee: Irdai's Debasish Panda According to Irdai norms, a surety bond is a contract to perform the promise, or discharge the liability, of a third person in case of his default

Bank lending to NBFCs jumps 23.6% in July to Rs 13.8 trillion: Report Banks’ credit exposure to non-banking financial companies rose 23.6 per cent on-year to Rs 13.8 lakh crore in July, pushing up their overall share to 9.3 per cent during the month, an analysis of the RBI’s monthly data by a ratings agency showed. The month also saw ...

RBI bought net $3.47 billion in spot foreign exchange market in July The RBI said it purchased $5.32 billion and sold $1.84 billion in July. In June, the central bank had bought a net of $4.50 billion in the spot market

Govt to provide up to 8% interest subsidy for Vishwakarma Yojana: FM Finance Minister Nirmala Sitharaman said the government will offer up to 8 per cent subsidy for loans given to artisans under the Vishwakarma Yojana launched by Prime Minister Narendra Modi on Sunday. The government has already made a provision of Rs 13,000 crore in the Budget 2023-24, she ...

HDFC Bank enters into co-lending partnership with CreditWise Capital Leading private lender HDFC Bank entered into a co-lending partnership with CreditWise Capital (CWC) for extending two-wheeler loans. CWC said in a statement on Friday that by virtue of the co-lending agreement, loans for two-wheelers will be available in Tier 2, 3 and 4 towns of the country. Founder and director ...

India's forex reserves decline to 11-week low of $593.90 billion: RBI The changes in foreign currency assets, expressed in dollar terms, include the effects of appreciation or depreciation of other currencies held in the RBI’s reserves