Economic Times
Credit card users in India spent more online in September, driven by e-commerce discounts and festive sales. Online card spending reached Rs 1,15,168
The recovery rate for creditors of bankrupt firms in India saw an uptick in the September quarter, reaching nearly 97% of the companies' fair value. H
Indian banks are turning to certificates of deposit (CDs) to bridge the gap between loan demand and deposit growth. CD issuances have surged by 69% th
Canara Bank has declared loans given to Reliance Communications and its unit as fraudulent. The bank alleged the Anil Ambani-promoted company misappro
Chennai-based matchmaking service provider, Matrimony.com, has introduced a new financial technology platform designed to provide financial assistance
State Bank of India is seeking a five-year loan of up to $1.25 billion, marking the largest dollar-denominated loan from India's financial sector this
Previously banks would rely on complaints raised by customers to check fraudulent activities, but now they are trying to set up parameters which can d
Several microfinance lenders in India have reduced their lending rates in recent months following regulatory scrutiny from the Reserve Bank of India,
Indian banks are facing significant losses in corporate insolvency cases, with haircuts exceeding 70% due to delays in resolution processes. The lengt
The CBI has concluded its investigation into allegations of wrongdoing by ICICI Bank officials in granting a loan to NDTV promoters. The agency found
The Reserve Bank of India has again designated SBI, HDFC Bank, and ICICI Bank as Domestic Systemically Important Banks for 2024. This classification r
Bank of India has set aside Rs 200 crore after MTNL, a government-owned telecom company, defaulted on a Rs 1,000 crore loan. MTNL's financial struggle
Several lenders said that they now prefer offering loans to customers with credit scores of more than 750 from a cap of 720 seen prior to the onset of
Financial Services Secretary M Nagaraju urged banks to initiate a fresh Know Your Customer (KYC) process for Pradhan Mantri Jan Dhan Yojana (PMJDY) ac
Pushpa Girimaji, a member of the IRDA's Insurance Ombudsman Advisory Committee, called upon insurance companies to simplify the language used in their
State Bank of India (SBI) Chairman, CS Setty, told analysts that the bank has a 35-basis-point cushion on its lending rate, providing flexibility even
Despite tighter lending norms impacting unsecured credit disbursal, credit-fueled consumption in India has surged, particularly for smartphones, elect
India Infrastructure Finance Company Ltd (IIFCL) is establishing a subsidiary to securitize its assets through asset-backed securities (ABS) and cover
Finance Minister Nirmala Sitharaman urged regional rural banks in South India to boost lending under government schemes like Mudra and PM Vishwakarma.
India's life insurance sector saw significant growth in October 2024, with new business premiums surging by 13.16% year-on-year. This impressive perfo
