Economic Times
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
Indian banks have shown strong asset quality metrics in the June quarter of 2024. Gross non-performing loans fell by 15.2% year-on-year to Rs 4.57 lak
InCred Financial, backed by KKR, has appointed Gaurav Maheshwari as its new chief financial officer. Maheshwari, previously with Standard Chartered Ba
A 70-year-old retiree faces a dilemma over renewing his ₹73,000 health insurance policy or relying on the government's Ayushman Bharat scheme, which
Indian banks have made significant progress in reaching remote areas, but more needs to be done to improve last mile credit delivery, said RBI Deputy
Sengupta will oversee all people and workplace-related functions for the 1,700+ Zeta employees globally, the company said.
Digital lenders have seen a 27% year-on-year growth in loan disbursements, reaching Rs 37,686 crore, according to data from the Fintech Association fo
HDFC Bank, India's largest private sector lender, may see its loan growth dip below 10% in the September quarter due to plans to sell Rs 70,000 crore
Axis Bank and Mastercard have teamed up to launch MyBiz, a business credit card tailored for sole proprietors and small business owners. The card offe
Indian banks' loan-to-deposit ratios are expected to improve after most reported increases in the April–June quarter. Deposit growth has slowed, wit
Default rates in credit cards and unsecured loans are rising, with losses in credit cards nearing 6%. Young millennials are reportedly defaulting with
