Finance News

Digital lenders’ disbursement grows 2.5 times to Rs 92,848 crore in FY23 Fintech lenders’ disbursements grew two and half times year-on year (YoY) to Rs 92,848 crore in the financial year ended March 2023 (FY23), reflecting strong demand amid economic growth. Disbursements were Rs 35,940 crore in FY22 and Rs 13,461 crore in FY21. Fintech Association for Consumer Empowerment ...

Why are airfares in India soaring and is there a way to beat it? Airfares in India have seen the biggest jump in Asia Pacific as airlines capitalise on low competition and pent up demand to increase profits and recover losses incurred during the pandemic, said trade body Airports Council International ( ACI).   ACI conducted a study  of around ...

Irdai grants permission to Go Digit Life Insurance to commence business Indian insurance regulator has granted certificate of registration to Go Digit Life Insurance Limited to commence life insurance business in the country. With this the total number of life insurers have gone up to 26 in the country. According to IRDAI, this is the fourth registration ...

Average flat sizes in Delhi NCR rise 50% Those living in the national capital are opting for bigger homes with the average flat sizes rising 50 per cent in Delhi-NCR to 1,700 square feet in the first quarter of 2023 from 1,130 square feet in the year-ago period. Developers in Delhi-NCR are closely tracking demand and launching bigger homes in ...

Should you pick one over a credit/ debit card? The Reserve Bank of India (RBI) has given  its go-ahead to banks for issuing RuPay forex cards to expand the payment options for Indians travelling abroad. These cards can be used at ATMs, PoS machines, and online merchants overseas. When you are travelling abroad you have broadly three easy options for ...

Productivity growth critical for recovery of emerging economies: Patra A multi-pronged approach woven into a comprehensive policy intervention is needed to reignite and sustain productivity growth at emerging and developing economies (EMDEs), a deputy governor at the Reserve Bank of India (RBI) said.   Michael Patra, in a speech delivered at the Sixth Asia KLEMS Conference on Sunday, said ...

FY24 to be golden year for Punjab National Bank due to steady focus: MD The current financial year will be “a golden year” for Punjab National Bank due to its multi-pronged strategy and steady focus, its managing director Atul Kumar Goel has said. The state-owned bank’s aim for FY24 is to adopt a multi-pronged strategy that seeks to ...

RBI to levy penalties on banks that lose property papers of loan seekers RBI policy: How a repo rate hike/cut impacts your home loans and EMIs MPC lowers projection for inflation, raises growth outlook a bit in FY24 RBI Monetary Policy: Repo rate up by 25 bps, FY23 inflation pegged at 6.5% RBI MPC: When and where to watch policy ...

India tops world ranking in digital payments with 89.5 mn transactions India with 89.5 million digital transactions in the year 2022 has topped the list of five countries in digital payments, according to data from MyGovIndia. As per the data, India in the year 2022 accounting for 46 per cent of the global real-time payments, adding that the ...

Go Digit Life Insurance receives IRDAI’s approval to start business New tax norm to hurt insurers; stocks attractive for the long run: Analysts IRDAI asks insurers to suo motu settle claims of Odisha rail mishap victims Higher claims pushed up non-life insurers’ underwriting losses: Report Why Irdai’s flexible rules are significant for insurance industry Irdai’s recent reforms will help expand ...