Economic Times
Chief Minister Siddaramaiah asked the Finance Department to hold off for 15 days on an order for government bodies to withdraw deposits from SBI and P
A Crisil analysis revealed that gold loans grew over 20% in June 2024 from the previous month. Banks and NBFCs maintained an LTV ratio of 60-65%. Disb
Golden Growth Fund sought to raise Rs 400 crore for acquiring land in South Delhi to develop luxury apartments. The fund completed its first fundraisi
RBI penalized Bank of Maharashtra with Rs 1.27 crore for breaching directives like Know Your Customer. Hinduja Leyland Finance Ltd faced a Rs 4.90 lak
RBI increased policy repo rate hike by a cumulative 250 bps since May 2022, while the weighted average lending rates on fresh and outstanding rupee lo
Manik Chhabra will assume the role of head of global corporate coverage for India and Sri Lanka at Deutsche Bank on August 19. Chhabra brings over two
Gold-loan NBFCs experienced reasonable growth in disbursements due to robust credit demand and operational resilience. The May 2024 RBI advisory limit
Shriram Finance has started talks with climate-focused private equity funds to raise capital for electric vehicle lending. Though EVs represent a smal
Independence Day Speech: During his Red Fort address, Prime Minister Narendra Modi emphasised that Indian banks have become globally strong due to sig
The central bank is expected to introduce these rules later this year and bankers are worried they will hurt profitability in the medium term.
Speaking at a convention organised by the International Association of Deposit Insurers, RBI deputy governor J Swaminathan called upon banks to exerci
Banks have urged the government to organize more Lok Adalats through Debt Recovery Tribunals to settle distressed loans out of court. Public sector ba
The Ministry of Corporate Affairs has introduced new accounting standards for insurance contracts, harmonizing them with global norms. These standards
Karnataka's government instructed its departments and public sector units to halt transactions with SBI and PNB due to unresolved fixed deposit issues
Standard Chartered Bank has appointed Aditya Mandloi as the Head of Wealth and Retail Banking for India and South Asia, effective August 1, 2024. Mand
The Reserve Bank of India has warned banks about the dangers of relying too heavily on third-party vendors. Deputy Governor J. Swaminathan mentioned a
Life insurers are pushing sales aggressively to lock in customers before the new surrender value norms take effect on October 1. These new rules, whic
The Life Insurance Corporation of India (LIC) is gearing up for a legal battle against ACESO, a company that buys and assigns LIC policies to policyho
Indian Renewable Energy Development Agency Ltd (IREDA) announced plans to establish a subsidiary to finance small businesses and retail customers invo
As per the current practice, Registered Valuer (RV)/ Register Valuers Entity (RVE) submit the valuation reports with or without mentioning any referen
