NPCI looks at $1 trillion worth of transactions through UPI on annual basis
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The National Payments Corporation of India (NPCI) is looking at $1 trillion worth of transactions through UPI on an annual basis, as digital payments are progressing in the country
SBI signs pact with 3 NBFC-MFIs for co-lending to joint liability groups
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The agreement is for co-lending to individual members of JLGs to undertake agriculture and allied activities including other income generation activities
IndusInd Bank invokes pledge on Ichamati's 5 mn shares in Mcleod Russel
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Private sector IndusInd Bank on Wednesday said it has acquired a 4.79 per cent stake in embattled tea plantation firm McLeod Russel India by invoking 5 mn pledged shares of the company
Banks disburse Rs 7,500 cr under Credit Guarantee Scheme for microfinancing
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Banks have fully utilised Rs 7,500 crore under the Credit Guarantee Scheme for Micro Finance Institutions (MFIs) to benefit the smallest of the borrowers, the finance ministry said on Wednesday.
India has the highest fintech adoption rate of 87%, says FM Sitharaman
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Asserts that nation is a prime destination for digital payments, which have grown from transactions worth Rs two trillion in 2019 to Rs four trillion in 2020
Indian bonds gain, rupee weakens to 1-month low on risk aversion
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The partially convertible rupee was trading at 74.11/12 per dollar, as of 0622 GMT, after touching 74.1875, its weakest since Aug. 27. The pair had closed at 74.04 on Tuesday
FinMin officials pitch for better sovereign rating outlook with Moody's
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Finance Ministry officials and representatives of rating agency Moody's on Tuesday discussed economic growth prospects, during which India pitched for an upgrade in its sovereign rating outlook
Fintech regulation must be entity-based: RBI Deputy Governor Rabi Sankar
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If a fintech player is providing liquidity service (such as deposits and credit), it must be regulated as strictly as a bank, said the senior RBI official
Many districts lack bank branches despite high economic activity: FM
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Union Finance Minister Nirmala Sitharaman said despite the huge thrust on financial inclusion and high economic activity, there are districts in the country not having any banking presence at all.
HDFC Bank aims to double rural presence, hire 2,500 people
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HDFC Bank, the country's largest private sector lender, on Sunday said it aims to double its rural reach to two lakh villages, which will see it hire 2,500 people in the next six months
India needs 4-5 more SBI sized big banks, says FM Sitharaman
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India needs a lot more banks and a lot more large sized ones to meet growing needs of country needs in path of making a recovery post pandemic,FM Nirmala Sitharaman said on Sunday
RBI imposes Rs 79 lakh penalty on Mumbai-based Apna Sahakari Bank
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The Reserve Bank has imposed a penalty of Rs 79 lakh on Apna Sahakari Bank, Mumbai for non-compliance with certain directions, including on NPA classification
Delhi HC extends till November 31 deadline to seed Aadhaar with UAN
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The Delhi High Court has extended till November 31 the deadline for the seeding of the Aadhaar number along with the Universal Account Number (UAN) and its verification
RBI announces revised rules for securitisation of standard assets
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The Reserve Bank on Friday issued Master Direction on loan transfer, requiring banks and other lending institutions to have a comprehensive board-approved policy for such transactions.
Mispricing of risks a concern given there is ample liquidity : SBI chairman
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Country's largest lender State Bank of India (SBI), the country's largest lender, Friday said that mispricing of risks is a cause of concern given the fact that there is ample liquidity in the system.
