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BANKING AND FINANCE NEWS - Page 2
Overseas remittances by Indians under LRS were down 29% in February to $1,964.21 mn: Here’s whySubscriber Only
April 27, 2025 12:38 IST
RBI data shows that remittances for investment in equity and debt spurted to $173.84 million in February from $104.98 million in the previous month.
One third of digital payments in India driven by credit cards and EMIs, says surveySubscriber Only
April 13, 2025 08:01 IST
These findings come amid tightening regulatory measures aimed at curbing rising consumer credit and growing household debt, which is increasingly fuelling consumption rather than asset creation.
Savers & depositors, brace for a cut in deposit ratesSubscriber Only
April 10, 2025 14:22 IST
The weighted average domestic term deposit rates (WADTDRs) on fresh and outstanding deposits increased by 253 bps and 199 bps, respectively, during the recent tightening cycle, i.e., May 2022 to January 2025.
Credit card defaults up 28% last year, touched Rs 6,742 croreSubscriber Only
April 7, 2025 07:36 IST
The RBI data shows that gross NPAs rose from Rs 5,250 crore in December 2023 to the current level, a rise of nearly Rs 1,500 crore, amid a slowdown in the economy.
India’s forex reserves snap 3-week gaining streak
February 21, 2025 21:05 IST
The reserves fell by $2.54 billion in the reported week, the most in a month. The reserves had risen by a total of $14.3 billion in the prior three weeks.
Defending rupee: RBI forward dollar sales touch $67.93 billion as of Dec 31Subscriber Only
February 21, 2025 07:25 IST
In the spot market, the RBI’s dollar sales stood at $45 billion in the third quarter—$15.15 billion in December 2024, $20.22 billion in November and $9.27 billion in October—while it bought dollar worth $9.63 billion in September 2024, according to RBI data.
Small savings schemes likely to see a rate cut in Q1 FY26Subscriber Only
February 8, 2025 22:25 IST
The interest rates on various small savings schemes undergo a quarterly review and the rates for the next quarter (April-June) will be announced by March-end.
RBI Governor Sanjay Malhotra flags rise in digital fraudsSubscriber Only
January 28, 2025 16:36 IST
The RBI Governor’s caution came amid the rise in digital frauds in the banking sector in the last two years.
RBI Ombudsman scheme sees 32.81% surge in bank customer complaints to 9.34 lakhSubscriber Only
January 25, 2025 22:48 IST
85,281 complaints about loans & advances, 42,239 about credit cards
ICICI Bank’s Q3 net profit jumps 14.8% to Rs 11,792 cr
January 25, 2025 22:46 IST
The bank’s net interest income (NII) rose 9.1 per cent year-on-year to Rs 20,371 crore in Q3 FY2025 from Rs 18,678 crore in the year-ago period.
HDFC Bank profit rises 2.2%, NPAs up by 16%Subscriber Only
January 23, 2025 04:00 IST
Similarly, net non-performing assets (NNPA) rose to Rs 11,588 crore, with the NNPA ratio increasing by 15 basis points to 0.46 per cent from 0.31 per cent a year ago.
RBI asks credit bureaus, banks to pay Rs 100 compensation per day for delay in data updationSubscriber Only
January 8, 2025 09:54 IST
Further, CIC should inform the customers by email or SMS when their credit information is sought by a bank or NBFC and banks should inform customers when they are in default.
RBI forms committee for ethical enablement of AI in financial sector
December 27, 2024 22:48 IST
The committee, to be headed by Pushpak Bhattacharyya, professor (Department of Computer Science and Engineering), IIT Bombay, will recommend a robust, comprehensive, and adaptable AI framework for the financial sector.
Loan write-offs help banks to show lower NPAsSubscriber Only
December 17, 2024 09:58 IST
Total recoveries from write-offs were only 18.70 per cent at Rs 1,85,241 crore in the last five years, according to the Reserve Bank of India data.
Secure your daughter’s future with Sukanya Samriddhi Yojana: All you need to knowSubscriber Only
December 13, 2024 10:03 IST
Offering tax benefits, guaranteed returns, and a sovereign guarantee, SSY is among the safest investment options available today.
Credit card delinquencies rise by 110 bps, says studySubscriber Only
December 13, 2024 10:00 IST
The number of credit cards issued by banks also rose rapidly to 10.61 crore as of September 2024 from 9.3 crore in September 2023, 7.36 crore in March 2022 and 6.20 crore in March 2021, RBI data shows.
Shaktikanta Das’ 6 years at Reserve Bank helm: Inflation remains unfinished agendaSubscriber Only
December 10, 2024 08:57 IST
Handled multiple domestic as well as exogenous shocks.
Need ‘affordable bank interest rates’ to support industry, build capacitiesSubscriber Only
November 19, 2024 09:15 IST
Speaking at the 11th SBI Banking & Economics Conclave, Sitharaman said that despite moderation in certain domestic economic indicators, there was no cause for concern.
Cost of borrowing very stressful, banks need to make interest rates affordable: FM
November 18, 2024 18:14 IST
Speaking at the annual business and economic conclave organised by SBI, the minister also asked banks to concentrate on their core function of giving loans.
Sebi proposes 30-day deadline for MF deployment of NFO proceeds
October 31, 2024 01:51 IST
Specify timelines in NFO documents on fund deployment
RBI buys 32.63 tonnes of gold in first half of FY25Subscriber Only
October 30, 2024 08:24 IST
According to the RBI, the value of its gold holdings has shot up to $ 65.74 billion as of September 2024 as against $ 52.67 billion in March 2024.
As banks’ AI ‘scores’ surge, why the RBI is flagging concerns of systemic risksSubscriber Only
October 30, 2024 07:19 IST
Dovetailing artificial intelligence (AI) and machine learning (ML) tools progressively into core operations, India’s bank sector players are leveraging AI to improve customer experience, pare costs, manage risks and drive growth through chatbots such as ‘iPal’ and ‘ILA’.
Expecting a Diwali bonus? 6 ways you can use it smartlySubscriber Only
October 25, 2024 13:13 IST
Diwali 2024 Special: Making smart choices about how to use your festive bonus can help you improve your financial well-being and enjoy the festive season while progressing toward your financial goals.
Credit growth for banks to slow to 12 per cent in FY25: ICRASubscriber Only
October 25, 2024 08:51 IST
For the NBFCs, the growth in assets under management (AUMs) is expected to slow down sharply to 16-18 per cent in FY2025 from 25 per cent in FY2024.
‘Excessive pricing’: RBI bars 4 NBFCs from giving loans
October 18, 2024 10:42 IST
This action is based on material supervisory concerns observed in the pricing policy of these companies in terms of their Weighted Average Lending Rate and the interest spread charged over their cost of funds, which are found to be excessive and not in adherence with the regulations
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