Finance News

Credit card spending in India rises to Rs 1.78 trn in Oct, sets record Industry likely to see loan growth moderating after RBI asks banks, NBFCs to increase risk weight for unsecured lending

IndusInd Bank to allow CNG bill payments through CBDC in Delhi-NCR The users will also be allowed to scan any UPI QR using their digital Rupee app across all IGL stations in the region

Fund pick: HDFC Flexicap fund Fund pick: HDFC Flexicap fund

Banks, NBFCs need to be watchful of stress building up: Shaktikanta Das ‘Banks and NBFCs must continue to do stress tests of their books,’ RBI Governor Shaktikanata Das said on Wednesday

Not much impact on margins: RBL Bank on RBI norms for unsecured loans Despite having the highest credit card portfolio in terms of retail assets at over 42 per cent, private sector lender RBL Bank does not see much impact on its margins after the RBI increased the risk weight on unsecured lending. Following a massive rise in unsecured lending ...

NBFCs likely to see assets growth moderating to 16-18% in FY24: CRISIL India’s NBFC sector is expected to record a moderate growth of 16-18 per cent in the current fiscal because of relatively slower expansion on unsecured retail loans due to the recent regulatory measures issued by the RBI, CRISIL Ratings said on Wednesday. Assets Under Management (AUM) of Non-Banking ...

Financial sector must avoid 'all forms of exuberance': RBI governor Banks, NBFCs would be ‘well advised to take precautionary measures in four areas, says Shaktikanta Das

Private banks make largest single-day govt bond purchase in 7 years A large corporate likely bought around 50 billion rupees of the benchmark paper through a private sector bank, traders said

Retirement fund body EPFO adds 1.7 million net members in September Retirement fund body EPFO recorded a net addition of 17.21 lakh members in September, according to payroll data released on Monday. Month-on-month comparison of payroll data shows an increase of 21,475 net members over August 2023, a labour ministry statement said. Year-on-year comparison of payroll data reflects an increase ...

Uttar Pradesh government eyes 10-12% share in India's pharma sector UP has signed memorandums of understanding with more than 80 CSIR and DRDO labs for research and development on affordable drugs