Finance News

Credit growth of banks accelerates 16.8% in December quarter: RBI MUMBAI (Reuters) – Indian banks’ credit growth doubled to 16.8% in the October-December quarter from a year earlier, data released by the Reserve Bank of India (RBI) on Monday showed. Bank credit had expanded by 8.4% in the quarter ended December 2021 and 17.2% in ...

MFIs’ net profit more than doubles in Q3 on buoyant interest income Emerging from the shock of the pandemic period, the net profit of listed microfinance institutions (MFIs) and MFI subsidiaries of listed firms more than doubled year-on-year (YoY) to Rs 508 crore in the third quarter ended December 2022. The buoyant interest income – 25 per ...

Rupee falls 19 paise to 82.94 against US dollar on muted domestic equities The rupee depreciated 19 paise to 82.94 against the US dollar in early trade on Monday, weighed down by a strong American currency and a muted trend in domestic equities. At the interbank foreign exchange, the domestic unit opened weak at 82.87 ...

Bank capital needs may rise 15-20% based on draft RBI market risk norms The Reserve Bank of India’s recently released draft guidelines on minimum capital requirements for market risk provide more flexibility to banks for treatment of certain instruments but may lead to a 15-20 per cent rise in capital requirements for market risk, bank officials said. ...

RBI imposes Rs 5k withdrawal cap on Shankarrao Mohite Patil Sahakari Bank The Reserve Bank of India on Friday put several restrictions on Shankarrao Mohite Patil Sahakari Bank, Akluj in Maharashtra, including a Rs 5,000 cap on withdrawal per customer, in wake of its deteriorating financial position. The restrictions or Direction under Section 35 A ...

India’s foreign exchange reserves at 11-week low, down for third week The Reserve Bank of India’s (RBI’s) foreign exchange reserves declined by $5.7 billion to an 11-week low of $561.27 billion in the week ended February 17, latest central bank data showed. The fall in the reserves for the third straight week was mainly on ...

RBI: Bank credit grows at 16.1% to Rs 134.17 trillion in Feb 10 fortnight The banking system credit grew 16.1 per cent year-on-year (YoY) in the fortnight ended February 10 to Rs 134.17 trillion, latest data released by the Reserve Bank of India (RBI) showed. About a month ago (January 13 fortnight), credit growth stood ...

E-commerce, travel transactions drive credit card spends in January The momentum in credit card spends continued in January, with spends topping Rs 1 trillion for the 11th month in a row due to a rise in e-commerce transactions and discretionary spending, including travel. According to data released by the Reserve Bank of India (RBI), credit ...

India’s foreign exchange reserves at 11-week low, down for third week India’s foreign exchange reserves fell for the third straight week to hit an eleven-week low of $561.27 billion as of the week ended Feb. 17, the Reserve Bank of India’s (RBI) statistical supplement showed on Friday. The reserves fell by $5.68 billion at the ...

Bank of Baroda to consider all borrower requests, including Adani, on merit One of India’s biggest state-backed lenders will consider all borrower requests if the proposal meets the bank’s underwriting standards, a top official said when asked if it will consider lending to the beleaguered Adani Group. “Irrespective of borrower, you have underwriting standards and ...