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RBI cancels the licence of Pune-based Seva Vikas Co-operative Bank Reserve Bank of India (RBI) on Monday cancelled the license of Pune based Seva Vikas Co-operative Bank as the urban cooperative bank lacked adequate capital and earning prospects. The bank ceases to carry on banking business, with effect from the close of business on October 10, 2022, RBI said in ...

4 NBFC stocks with up to 37% upside potential [ad_1] After three years of single-digit growth, the NBFC sector is expected to see strong traction in 2022-23. This will be enabled by strong disbursements across product segments, rising consumer spending, growth in the automobiles sector and decent economic growth. According to a recent Crisil report, the AUM of NBFCs will ...

Ratings devoid of lenders detail should be treated as unrated exposure: RBI In a move that may put pressure on the capital adequacy of banks, the Reserve Bank of India (RBI) on Monday said loan ratings without information about lenders’ details should be treated as unrated exposure. Capital should be set aside using risk weightings applicable for ...

Money musts during divorce: Woman must keep her interests in forefront when negotiating settlement [ad_1] A dear friend, whom we shall name Mona, sought to divorce her husband of 27 years. She had recognised their incompatibility early on, but persisted in the marriage in the interest of her children. Now that both children were educated and employed, emboldened by what ...

AU Small Finance Bank re-appoints R V Verma as non-executive chairman AU Small Finance Bank on Monday re-appointed former head of National Housing Bank (NHB) R V Verma as its non-executive chairman. The decision was taken at its board meeting held on Monday, AU Small Finance Bank said in a regulatory filing. The board approved the ...

How to estimate expenses after retirement [ad_1] Binaifer, 30, is an independent interior designer who has done well with planning and saving for many of her goals. But when it comes to retirement planning, she is intimidated by the idea of trying to estimate her financial needs nearly three decades into the future. Binaifer wants to avoid the error of ...

Rising interest rates mean a 20-year home loan will take 25 years to repay: What borrowers can do [ad_1] Imagine taking a 20-year home loan and paying EMIs for more than 26 years. The flurry of repo rate hikes by the RBI in recent months have pushed up home loan rates from 6.7% in April to 8.1% now. This will ...

RBI pulls up banks on exposures’ ratings without lenders’ names The Reserve Bank of India (RBI) on Monday said that a bank loan rating by rating agencies not having lenders’ names won’t be considered for capital computation by banks. Such loans will have to be treated by banks as unrated and they will assign risk weights to ...

True and false lessons from the 2008 stock market crash [ad_1] A few days ago, I came across an article that was more than a decade old but is worth a careful re-read. It was an excerpt from a letter to investors written by US fund manager Seth Klarman. The letter was written in late 2009 or early 2010, and ...

Central Govt DA: 7th Pay Commission: Dearness relief hiked by 4% for central govt pensioners; notification issued [ad_1] The government has hiked the dearness relief (DR) component for central government employees by 4% effective from July 1, 2022. The DR has been hiked to 38%, according to the office memorandum (OM) Department of Pension & Pensioners’ welfare (DOPPW). According to ...