Economic Times
Northeastern Development Finance Corporation Limited (NEDFi) reported a 14.19% increase in gross profit to Rs 132.37 crore for FY 2023-24. Net profit
IDFC Ltd will merge into IDFC First Bank effective October 1, following approval from the National Company Law Tribunal. The merger will dissolve IDFC
HDFC Life Insurance plans to raise Rs 1,500 crore through non-convertible debentures after board approval. The NCDs will carry an 8.05% coupon rate an
The Reserve Bank of India has urged directors of small finance banks to address emerging operational risks, particularly in cybersecurity. At a meetin
Post nod from NCLAT, the bank board has greenlighted the amalgamation of IDFC FHCL with IDFC Limited with effect from September 30 and approved amalga
Banks in India faced challenges in mobilizing large deposits to meet rising credit demand over the past two financial years. Credit growth outpaced de
ICICI Bank has announced special offers for customers purchasing Apple products, including up to Rs 5,000 cashback on iPhone 16 purchases using credit
UBS is negotiating a joint venture with Mumbai-based 360 One WAM to expand its wealth management services in India. The partnership aims to target hig
NPCI International Payments Limited has partnered with Trinidad and Tobago's Ministry of Digital Transformation to develop a real-time payments platfo
Credit card spending and loan growth are slowing down as lenders become cautious about asset quality, according to a Nomura report. The Reserve Bank o
ICICI Bank reported gross credit losses of 4.4% in its credit card portfolio for FY24, lower than SBI Cards' 7.4%. HDFC Bank's net credit losses were
Axis Bank has launched a Corporate Credit Card Suite for startups under its New Economy Group. The cards aim to streamline travel, official expenses,
Bandhan Life, previously Aegon Life Insurance, has launched operations with a guaranteed savings plan and a unit-linked plan. Acquired by Bandhan Fina
India is poised to become one of Citi's top three markets within 5-7 years, driven by the expansion of its services business and increasing global inv
Central Depository Services (India) Limited (CDSL) has announced a uniform tariff of Rs 3.50 per debit transaction, effective from October 1, 2024. Th
Indian banks added over 9.2 lakh credit cards in August, with HDFC Bank leading the charge. Total active credit cards reached 10.55 crore. Despite gro
Bandhan Life, previously Aegon Life Insurance, has launched its operations with two new products: a guaranteed savings plan and a unit linked plan. Th
Vehicle sales and financing in India are experiencing a slowdown due to delayed replacement demand, weak rural sentiment, and seasonal factors. Hopes
A ministerial panel will meet on October 19 to discuss reducing GST on health and life insurance premiums, currently at 18 per cent. The 13-member gro
Credit card dues and defaulters are rising, with defaulters reaching 1.8% in June. Outstanding credit card debt has grown significantly, stressing the
