Economic Times
PhonePe has reduced customer support staff by 60% in five years, leveraging AI-driven chatbots to resolve over 90% of issues, amidst a 40-fold transac
India's private credit market is rapidly expanding with new local participants, raising concerns about potentially weakened lending standards. Experts
UCO Bank recovers Rs 414 crore from 26 accounts through NCLT in Q2, with Rs 393 crore resolved and Rs 21 crore under liquidation. Gross NPA ratio drop
The finance ministry is considering increasing Chief General Managers in public sector banks to support business growth and profitability. Current gui
HDFC Bank plans to lower its loan-to-deposit ratio to pre-merger levels within 2-3 years. Post-merger, the ratio spiked to 110%, prompting securitizat
Several state-owned banks, including Central Bank of India and Punjab National Bank, have waived processing fees on home loans during the festive seas
The Reserve Bank of India has lifted restrictions on JM Financial Products Ltd. This allows the company to resume financing against shares and debentu
ACESO has expanded its insurance assignment services to major private insurers like SBI Life, HDFC Standard, and ICICI Prudential, enabling policyhold
The RBI's directive to halt operations of four non-bank lenders, due to concerns about loan pricing practices, will significantly impact mid and small
The National Backward Classes Finance and Development Corporation will begin disbursing loans under the new 'Visvas' scheme next month for SC, OBC, an
Kotak Mahindra Bank has announced it will acquire Standard Chartered Bank's personal loan book in India, worth Rs 4,100 crore. The deal is expected to
Kotak Mahindra Bank Limited has agreed to acquire Standard Chartered Bank India's personal loan book, comprising loans worth approximately Rs 4,100 cr
Banks' efforts to mobilise deposits by the quarter-end helped reduce the credit deposit ratio to 78.9 percent as of October 04. Despite this, year-on-
Punjab and Sind Bank (PSB) has notified that Mahanagar Telephone Nigam Limited (MTNL) accounts are now classified as Non-Performing Assets (NPA), effe
The Reserve Bank of India has directed Asirvad Micro Finance Limited, Arohan Financial Services Limited, DMI Finance Private Limited, and Navi Finserv
Axis Bank became the fourth largest credit card issuer in Q2 FY25, with a 14% increase in Cards in Force. Credit card transactions surged, especially
Multiples appoints Rahul Chawla, a senior executive from Deutsche Bank, as the managing director for credit strategy. Chawla, with nearly three decade
Biz2X, a subsidiary of Biz2Credit, has surpassed Rs 9,000 crore in loan disbursements, driven by its AI-integrated platform, DigiKred. The company exp
Acko appoints founding member Sandip Goenka as CEO of its new life insurance business. Goenka, with over two decades of experience, will develop produ
PhonePe launches a new insurance plan priced at ₹9 that protects against firecracker-related accidents during Diwali. The plan offers coverage of up
