Finance News

Cashback SBI Card: Details, benefits, eligibility and how to apply State Bank of India (SBI) officially launched one of the most comprehensive credit cashback schemes on Thursday, September 1. SBI claims that this is the first-of-its-kind cashback-focused credit card in the market, which allows 5 per cent cashback without any merchant limits and is applicable to all online purchases. ...

Govt starts work to make regional banks viable; DFS to organise workshop The Centre has started working on making regional rural banks (RRBs) viable, and would undertake stakeholder consultation to discuss ways to turnaround such lenders on Saturday. The Department of Financial Services (DFS) is organising a workshop, to be chaired by Secretary Sanjay Malhotra, which will ...

RBI to run pilot for digitising Kisan Credit Card lending in MP, Tamil Nadu The Reserve Bank of India will run the pilot projects for complete digitalisation of Kisan Credit Card (KCC) lending from this month in the select districts of Madhya Pradesh and Tamil Nadu. The digitalisation aims to make KCC-based lending more efficient by reducing costs and ...

Comply with digital lending norms for existing loans by Nov 30: RBI The Reserve Bank of India (RBI) on Friday said that regulated entities engaged in credit delivery through digital lending will have time till November 30 to comply with the lending norms for existing digital loans. However, for new and existing customers availing fresh loans, these ...

RBI launches project to digitise KCC to transform rural credit delivery To transform rural credit delivery system, the Reserve Bank has decided to launch pilot projects to digitise Kisan Credit Card (KCC) in Madhya Pradesh and Tamil Nadu. Based on the learnings from the pilot, it is planned to expand the digitalisation of KCC lending to other ...

YES Bank hikes interest rate on NRE, FCNR fixed deposits as norms are eased Private sector lender YES Bank has raised the interest rate on non-resident external (NRE) fixed deposits by 50-75 basis points (bps) and has also increased the rate on foreign currency non-resident (FCNR) deposits. This comes after the Reserve Bank of India (RBI) eased certain norms ...

Indian bond yields up for second straight day on debt supply woes Indian government bond yields ended higher for a second consecutive session on Friday, as weekly auction added to debt supply, while elevated U.S. Treasury yields dented appetite. The benchmark 10-year Indian government bond yield ended at 7.2318%. The yield rose two basis points on Thursday ...

Ombudsmen disposed of 32% more complaints against insurers in 2021-22 An alternative mode of resolving disputes over insurance claims has helped dispose of 32 per cent more complaints in 2021-22 year-on-year. Insurance ombudsmen disposed of 40,527 complaints against insurance firms across the country during the year, compared with 30,596 in 2020-21. While the break-up for 2021-22 ...

PE, Sovereign funds making larger investments in Indian tech firms Private Equity (PE) funds and sovereign funds are making more investments in India’s tech companies after the slowdown from hedge funds and momentum investors like SoftBank and Tiger Global. Recently, Advent International has closed in on an investment in KreditBee, according to a report by Economic Times (ET). Advent may ...

Indian Bank hikes MCLR by 0.10% across tenors from September 3 State-owned Indian Bank has revised the marginal cost of funds-based lending rates (MCLR) by 0.10 per cent across tenors from Saturday, which will make most of the consumer loans costlier. It has also revised the lending rates benchmarked on treasury bills. The Asset Liability Management ...