Finance News

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 ...

Rupee closes at new low ahead of near-certain big Fed rate-hike The Indian rupee closed at its lowest level ever against the U.S. currency on Wednesday, tracking the dollar index’s strength as the U.S. Federal Reserve gears up for a hefty rate hike to tame inflation pressures. The rupee closed at 79.9750 per U.S. dollar, down from ...

Bank NPAs loans may drop to 5% by March 2023 on economic rebound: Crisil Reflecting further improvement in asset quality of banks, their gross non-performing assets (GNPAs) are expected to decline to 5.0 per cent by March 2023. They may even touch decadal low of about 4 per cent by March 2024, riding on post-pandemic economic recovery and higher ...

HDFC Bank signs multi-year data and technology deal with Refinitiv BENGALURU (Reuters) -HDFC Bank on Wednesday signed a multi-year data and technology agreement with Refinitiv, a London Stock Exchange Group business, as the Mumbai-based lender looks to reach more customers and cut costs. HDFC Bank, India’s largest private sector lender, will get comprehensive access to Refinitiv’s data ...

Several priority sector areas not profitable for lending: Axis Bank MD Several sectors which banks are mandated to participate in do not turn out to be profitable, Axis Bank’s managing director and chief executive officer Amitabh Chaudhry said, adding that the private lender spends Rs 900 crore every buying priority sector lending certificates to meet its targets. ...

Indian banks may see bad loans falling to decade low of 4% by end of FY24 Indian banks are likely to see a 90 basis points fall in gross non-performing assets (NPAs) to 5% in this fiscal year to March and further improve to 4% by end of March 2024, rating agency Crisil said on Wednesday. The ...

Rupee depreciates 8 paise to 79.82 against US dollar in early trade The rupee depreciated by 8 paise to 79.82 against the US dollar in opening trade on Wednesday as investors await the US Fed’s policy decision on interest rates for further cues. Forex traders said the strength of the American currency in the overseas ...

India's banking system liquidity slips into deficit after 40 months: RBI India’s banking system liquidity has slipped into deficit for the first time in nearly 40 months, according to the Reserve Bank of India

RBI wants fintech operators to follow rules of game: Shaktikanta Das Governor Shaktikanta Das on Tuesday said the RBI will not stifle or penalise fintech companies, but wants them to follow the “traffic rules” where their innovations adhere to certain expectations from the regulator. The innovations that come out have to enhance the efficiency and ...

RBI removes Central Bank of India from PCA framework after more than 5 yrs Reserve Bank of India today removed the Central Bank of India from the Prompt Corrective Action (PCA) framework on complying with parameters like net non-performing assets (net NPAs) and capital ratios. While removal paves way for normal functioning for business growth, ...