Economic Times
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
National Stock Exchange (NSE) Chief Business Officer, Sriram Krishnan, downplayed concerns regarding recent foreign portfolio investor (FPI) selling i
Indian lenders are bracing for a surge in microfinance loan defaults after the central bank tightened lending rules. The Reserve Bank of India's move
The Reserve Bank of India's recent regulatory changes, including increased risk weights on bank lending to non-bank financial companies (NBFCs), have
S&P Global predicts that Indian banks will face pressure on net interest margins, potentially dropping by 20 basis points to 3% over the next few year
The Indian government is planning to reduce the turnover limit for companies to join the TReDS platform. This move will make it mandatory for more bus
Northern Arc secures USD 65 million for its first climate fund. The fund receives support from DFC and OeEB. It will provide debt financing to compani
The Insurance Regulatory and Development Authority of India (Irdai) has proposed changes to its regulatory sandbox, aiming to shift from a rule-based
Muthoot Microfin is lowering its lending rates for the third time this year, benefiting borrowers with a quarter-percentage point reduction. This move
Visa appointed Rishi Chhabra as Country Manager for India. Chhabra, with over 20 years of experience in financial services and payments, will lead Vis
Indian banks are shutting down more ATMs despite record-high cash circulation. This trend is attributed to the rise of digital transactions and UPI p
IL&FS Group, grappling with debt, has successfully repaid Rs 38,082 crore to its creditors by September 30, 2024. The resolution process, involving a
