Economic Times
The Supreme Court decided that banks and NBFCs are obliged to restructure MSME loans without awaiting applications, following mandates from the Centra
The finance ministry urged state-owned general insurers to focus on profitability rather than revenue growth. After a Rs 7,250 crore capital infusion,
Dinesh Kumar Khara, the outgoing chairman of the State Bank of India (SBI), stated that under his leadership, the bank's net profits over the past fou
The finance ministry has instructed public sector insurance companies, including LIC, to expedite claim disbursements for landslide victims in Kerala.
On Friday, the Union Cabinet approved several amendments to banking laws aimed at addressing unclaimed deposits and improving customer ease. Key chang
HSBC's Indian operations' profit rose by 4% year on year, driven by 7% growth in global banking and commercial banking divisions. With India as its fo
IRDAI imposed a Rs 2 crore penalty on HDFC Life due to regulatory violations identified during an inspection of financial years 2017-2020. Rs 1 crore
According to the BCG report “The Poster Child”, 75% of digital payments and loans and 25% of new digital accounts will originate from third-party
UPI Payments, a part of “India Stack”, has emerged as the flagship Indian fintech product over the recent years. It has seen remarkable growth, ri
About 300 small Indian banks were temporarily offline following a ransomware attack on C-Edge Technologies, which provides tech services to the banks.
“The impact was limited to C-Edge systems hosted in their data center and not on any of the co-operative banks or regional rural banks' own infrastr
The Reserve Bank of India (RBI) announced that 97.92 per cent of the Rs 2000 denomination banknotes have returned to the banking system, with only Rs
The industry body Microfinance Institutions Network (MFIN) announced that microfinance entities have begun reducing loan interest rates and implementi
India's biggest private lender, HDFC Bank Ltd., posted a 16.5% increase in its market capitalization to 12.811 trillion rupees. Barring IndusInd Bank
By June 2024, growth in bank credit to NBFCs had fallen to 8.5% from 16% in May. Credit card and gold jewellery loans, however, saw substantial growth
The Reserve Bank of India has approved Fairfax Financial Holdings, Emirates NBD, and Kotak Mahindra Bank as bidders for a majority stake in IDBI Bank.
A ransomware attack by the RansomEXX group has disrupted India's banking system and payment firms, affecting around 300 small-sized lenders across the
The benchmark one-year tenor MCLR, which is used to price most consumer loans such as auto and personal, will be at 8.90 per cent against the earlier
The company plans to utilise these funds to strengthen its lending capabilities across the MSME, Education, and Healthcare Equipment sectors, enhance
C-Edge Technologies, a tech service provider for cooperative banks, experienced a ransomware attack that disrupted online payment services for over 10
