HDFC and Axis Bank were the only two lenders that had provided term loans to RCap, according to the company's annual report for the financial year March 31, 2021.from Banking/Finance-Industry-Economic Times https://ift.tt/3d7XQdz
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Tuesday, November 30, 2021
BANKING
HDFC and Axis Bank were the only two lenders that had provided term loans to RCap, according to the company's annual report for the financial year March 31, 2021.from Banking/Finance-Industry-Economic Times https://ift.tt/3d7XQdz
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HDFC, Axis Bank sold Reliance Capital debt facilities to ACRE
HDFC and Axis Bank were the only two lenders that had provided term loans to RCap, according to the company's annual report for the financial year March 31, 2021.source https://economictimes.indiatimes.com/industry/banking/finance/banking/hdfc-axis-bank-sold-reliance-capital-debt-facilities-to-acre/articleshow/88019126.cms
Only half recovery likely for Reliance Capital bondholders
Large institutional investors, including LIC and Employee Provident Fund Organisation (EPFO), collectively own about ₹6,000 crore of RCap bonds. They are also expected to report considerable recoveries.source https://economictimes.indiatimes.com/industry/banking/finance/banking/only-half-recovery-likely-for-reliance-capital-bondholders/articleshow/88019095.cms
Fox News Breaking News Alert
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CNN suspends Chris Cuomo indefinitely
11/30/21 3:40 PM
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11/30/21 3:40 PM
Non-food bank credit grows at 6.9% in Oct: RBI data
Advances to micro and small industries accelerated to 11.9 % in October 2021 from 0.7 % a year ago. Credit growth to large industries stood at 0.5 % in October 2021 as compared to a contraction of 1.8 % a year ago, the data showed. Slowdown in credit growth of services continued, as it decelerated to 2.9 % in October from 8.6 % a year ago.source https://economictimes.indiatimes.com/industry/banking/finance/banking/non-food-bank-credit-grows-at-6-9-in-oct-rbi-data/articleshow/88010198.cms
BANKING
Advances to micro and small industries accelerated to 11.9 % in October 2021 from 0.7 % a year ago. Credit growth to large industries stood at 0.5 % in October 2021 as compared to a contraction of 1.8 % a year ago, the data showed. Slowdown in credit growth of services continued, as it decelerated to 2.9 % in October from 8.6 % a year ago.from Banking/Finance-Industry-Economic Times https://ift.tt/3xANBbj
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Rs 26,697 cr lying in dormant accounts of banks: FM Sitharaman
As per information received from the Reserve Bank of India (RBI), as on December 31, 2020, the total number of such accounts in Scheduled Commercial Banks (SCBs) was 8,13,34,849 and the amount of deposits in such accounts was Rs 24,356 crore, Sitharaman said in a reply.source https://economictimes.indiatimes.com/industry/banking/finance/banking/rs-26697-cr-lying-in-dormant-accounts-of-banks-fm-sitharaman/articleshow/88005813.cms
Dynamic asset allocation products and their importance
From data experience, liquidity criteria and tax point of view we have observed that debt and equity are the best investment opportunities for asset allocation which successfully covers all required aspects of investments.source https://economictimes.indiatimes.com/industry/banking/finance/banking/dynamic-asset-allocation-products-and-their-importance/articleshow/88002264.cms
BANKING
As per information received from the Reserve Bank of India (RBI), as on December 31, 2020, the total number of such accounts in Scheduled Commercial Banks (SCBs) was 8,13,34,849 and the amount of deposits in such accounts was Rs 24,356 crore, Sitharaman said in a reply.from Banking/Finance-Industry-Economic Times https://ift.tt/3D1HaiF
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BANKING
From data experience, liquidity criteria and tax point of view we have observed that debt and equity are the best investment opportunities for asset allocation which successfully covers all required aspects of investments.from Banking/Finance-Industry-Economic Times https://ift.tt/3E7CHfH
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India could be the third-largest economy in the next decade; MFs may be one of the major beneficiaries
Branch Network plays an important role in reaching out to the masses for investments. Where there is a branch whether it’s a category B town, village panchayat, tehsil, gram panchayat the branch is playing its part in promoting the “Mutual Funds Sahi Hai concept”.source https://economictimes.indiatimes.com/industry/banking/finance/banking/india-could-be-the-third-largest-economy-in-the-next-decade-mfs-may-be-one-of-the-major-beneficiaries/articleshow/88001813.cms
Three things banks need to keep in mind before leading a digital transformation
Fintechs are promoting a vision of a world without banks. Blockchains and cryptocurrencies have taken over paper money or credit cards. In short, fintechs are facilitating a fast, seamless, immersive, cross-channel digital experience that customers have always wanted. It is satisfying their needs and bringing to them so much more that they can anticipate.source https://economictimes.indiatimes.com/industry/banking/finance/banking/three-things-banks-need-to-keep-in-mind-before-leading-a-digital-transformation/articleshow/88001399.cms
BANKING
Branch Network plays an important role in reaching out to the masses for investments. Where there is a branch whether it’s a category B town, village panchayat, tehsil, gram panchayat the branch is playing its part in promoting the “Mutual Funds Sahi Hai concept”.from Banking/Finance-Industry-Economic Times https://ift.tt/3I3o7rL
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BANKING
Fintechs are promoting a vision of a world without banks. Blockchains and cryptocurrencies have taken over paper money or credit cards. In short, fintechs are facilitating a fast, seamless, immersive, cross-channel digital experience that customers have always wanted. It is satisfying their needs and bringing to them so much more that they can anticipate.from Banking/Finance-Industry-Economic Times https://ift.tt/3G0BNCc
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Outlook for Indian banks is stable, says Moody's
“Pickup in activity levels will drive credit growth, with positive effects to asset risks,” the global rating company said in a report on banks in the emerging market.source https://economictimes.indiatimes.com/industry/banking/finance/banking/outlook-for-indian-banks-is-stable-says-moodys/articleshow/87998743.cms
Monday, November 29, 2021
The unraveling of Reliance Capital shows why RBI hates big business in banking
The unraveling of Reliance Capital Ltd. shows why the Reserve Bank of India remains reluctant to allow big business groups into mom-and-pop banking, despite facing huge pressure to allow a wave of corporate capital into the industry and reignite credit growth. The financiers’ potential to do harm is lethal even without access to insured deposits.source https://economictimes.indiatimes.com/industry/banking/finance/banking/the-unraveling-of-reliance-capital-shows-why-rbi-hates-big-business-in-banking/articleshow/87996866.cms
BANKING
The unraveling of Reliance Capital Ltd. shows why the Reserve Bank of India remains reluctant to allow big business groups into mom-and-pop banking, despite facing huge pressure to allow a wave of corporate capital into the industry and reignite credit growth. The financiers’ potential to do harm is lethal even without access to insured deposits.from Banking/Finance-Industry-Economic Times https://ift.tt/3lkCxu6
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Nivesh forays into insurance space with Samavesh
The insurance platform will cater to both urban and rural customers and will be a pan-India initiative, offering all kinds of insurance products in the market.source https://economictimes.indiatimes.com/industry/banking/finance/insure/nivesh-forays-into-insurance-space-with-samavesh/articleshow/87994684.cms
Industry bodies urge RBI to scrap daily loan asset classification norm
In their letter to the RBI the industry bodies have argued that the strict day-to-day payments based classification would be hard to implement for the borrowers serviced by them as their cash flows and supplies are haphazard. These borrowers make lump sum payments.source https://economictimes.indiatimes.com/industry/banking/finance/banking/industry-bodies-urge-rbi-to-scrap-daily-loan-asset-classification-norm/articleshow/87994461.cms
BANKING
In their letter to the RBI the industry bodies have argued that the strict day-to-day payments based classification would be hard to implement for the borrowers serviced by them as their cash flows and supplies are haphazard. These borrowers make lump sum payments.from Banking/Finance-Industry-Economic Times https://ift.tt/3p9xY6R
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GST on notice pay, group insurance, phone bill: AAR
This tax complication comes at a time when top companies are complaining of high attrition. The ruling in the case of Bharat Oman Refineries is set to result in scrutiny by the tax department in the coming months as there's already confusion over the issue.source https://economictimes.indiatimes.com/industry/banking/finance/gst-on-notice-pay-group-insurance-phone-bill-aar/articleshow/87994005.cms
CAG flags treatment of bank recap expenditure in FY18-19
According to CAG, the finance ministry had stated that bank recapitalisation was not fiscally neutral but cash neutral, as issue of securities would get reflected in the total government debt and coupon payments for the special securities when made would be reflected in the deficit of the relevant year.source https://economictimes.indiatimes.com/industry/banking/finance/banking/cag-flags-treatment-of-bank-recap-expenditure-in-fy18-19/articleshow/87993976.cms
BANKING
This tax complication comes at a time when top companies are complaining of high attrition. The ruling in the case of Bharat Oman Refineries is set to result in scrutiny by the tax department in the coming months as there's already confusion over the issue.from Banking/Finance-Industry-Economic Times https://ift.tt/3rjoIzA
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BANKING
According to CAG, the finance ministry had stated that bank recapitalisation was not fiscally neutral but cash neutral, as issue of securities would get reflected in the total government debt and coupon payments for the special securities when made would be reflected in the deficit of the relevant year.from Banking/Finance-Industry-Economic Times https://ift.tt/3E7Mbre
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BANKING
"The RBI inspection revealed non-compliance with rules on classification of an account as red flag account despite presence of early warning signals and also failure to disclose provisioning for Security Receipts (SRs) in its Annual Report," read the circular.from Banking/Finance-Industry-Economic Times https://ift.tt/32C63ol
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BANKING
Sri Guru Raghavendra Sahakara Bank Niyamitha , located in Surya's Loka Sabha constituency Bengaluru South, received a total of Rs 753.61 crore as deposit insurance from the Deposit Insurance and Credit Guarantee Corporation (DICGC) towards 21,983 claims, he said.from Banking/Finance-Industry-Economic Times https://ift.tt/3FWj8Ye
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BANKING
Impact of the new RBI norms on unsecured loans NPA is expected to be in the range of 1.5-3.0%, for MSME finance it is expected to be in the range of 1.0-3.0% and 1.0-2.0% for vehicle finance. The impact is expected to be muted for Home loans NPA and is estimated between 0.25-1.25%m, 0.25-1% for dold loans and 0.25-1.0% for wholesale finance.from Banking/Finance-Industry-Economic Times https://ift.tt/3rkfLGs
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NBFCs AUM likely to grow 8-10% in FY'23: Report
According to a report by Crisil Ratings, retail loans are expected to see reasonably broad-based growth in the current and next fiscals supported by pick-up in demand and consequently underlying sales.source https://economictimes.indiatimes.com/industry/banking/finance/nbfcs-aum-likely-to-grow-8-10-in-fy23-report/articleshow/87982674.cms
LIC gets RBI's approval to increase stake in Kotak Mahindra Bank
Kotak Mahindra Bank informed the exchanges on Monday that the Life Insurance Corporation of India has received the Reserve Bank of India's approval to increase its stake in the company up to 9.99%.source https://economictimes.indiatimes.com/industry/banking/finance/banking/lic-gets-rbis-approval-to-increase-stake-in-kotak-mahindra-bank/articleshow/87977810.cms
Bharat Financial Inclusion top officials resign
Top executives of Bharat Financial Inclusion (BFIL), a fully-owned subsidiary of IndusInd Bank, have resigned from the company last week, the bank said on Monday. The bank said it has appointed an Executive Director and another person to oversee the day-to-day operations of the company.source https://economictimes.indiatimes.com/industry/banking/finance/bharat-financial-inclusion-top-officials-resign/articleshow/87977231.cms
BANKING
Top executives of Bharat Financial Inclusion (BFIL), a fully-owned subsidiary of IndusInd Bank, have resigned from the company last week, the bank said on Monday. The bank said it has appointed an Executive Director and another person to oversee the day-to-day operations of the company.from Banking/Finance-Industry-Economic Times https://ift.tt/3lij1Ox
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Bharti AXA Life posts 33% growth in weighted new biz premium in H1FY22
The insurer's asset under management witnessed a strong growth of 28 per cent and has doubled over the past three years.source https://economictimes.indiatimes.com/industry/banking/finance/insure/bharti-axa-life-posts-33-growth-in-weighted-new-biz-premium-in-h1fy22/articleshow/87976515.cms
Sunday, November 28, 2021
BANKING
While the RBI must be lauded for its visionary stance of mandating CoFT in the interest of promoting safe and secure digital payments for consumers, there exist implementation challenges, which may bear unintended adverse consequences for consumers and merchants.from Banking/Finance-Industry-Economic Times https://ift.tt/32v3i8j
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BANKING
The MF industry is closely regulated and monitored by the regulator, the Securities and Exchange Board of India (SEBI). Regulations put in place by SEBI keep tight reins on the risk profile of investments, concentration of risk in funds, valuation of investments and the compliance of funds with its goals.from Banking/Finance-Industry-Economic Times https://ift.tt/3FWQx52
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View: Dear RBI, don’t penalise consumers and merchants for non-compliance by other stakeholders
While the RBI must be lauded for its visionary stance of mandating CoFT in the interest of promoting safe and secure digital payments for consumers, there exist implementation challenges, which may bear unintended adverse consequences for consumers and merchants.source https://economictimes.indiatimes.com/industry/banking/finance/banking/view-dear-rbi-dont-penalise-consumers-and-merchants-for-non-compliance-by-other-stakeholders/articleshow/87975474.cms
SIPs in Debt Funds - Here’s why they are beneficial to investors
The MF industry is closely regulated and monitored by the regulator, the Securities and Exchange Board of India (SEBI). Regulations put in place by SEBI keep tight reins on the risk profile of investments, concentration of risk in funds, valuation of investments and the compliance of funds with its goals.source https://economictimes.indiatimes.com/industry/banking/finance/banking/sips-in-debt-funds-heres-why-they-are-beneficial-to-investors/articleshow/87975160.cms
BANKING
Fedo said that there is a very large and urgent need to simplify and bridge the financing gap between insurance policy coverage and hospitalization expenses. This offering will enhance the value proposition for insurers and banks alike, and more importantly will address the needs of consumers, with empathy.from Banking/Finance-Industry-Economic Times https://ift.tt/3FYDtfd
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Fedo launches “Health Savings Account” in partnership with neo bank Open
Fedo said that there is a very large and urgent need to simplify and bridge the financing gap between insurance policy coverage and hospitalization expenses. This offering will enhance the value proposition for insurers and banks alike, and more importantly will address the needs of consumers, with empathy.source https://economictimes.indiatimes.com/industry/banking/finance/banking/fedo-launches-health-savings-account-in-partnership-with-neo-bank-open/articleshow/87972110.cms
NBFCs eyeing bank tag face a long wait, tighter regulations
Analysts say NBFCs face their own challenges in terms of the rising cost of funds and higher capital requirements and a bank licence is not on the horizon for the next few years.source https://economictimes.indiatimes.com/industry/banking/finance/banking/nbfcs-eyeing-bank-tag-face-a-long-wait-tighter-regulations/articleshow/87970785.cms
Crypto exchanges see their new sign-ups dip amid uncertainty
Crypto exchanges have recorded a 15-50% drop in new sign-ups in November so far. They have also posted a dip in their monthly transactions after some investors squared off positions and adopted a “wait and watch” mode.source https://economictimes.indiatimes.com/industry/banking/finance/new-sign-ups-dry-up-for-cryptocurrency-exchanges-amid-regulatory-confusion/articleshow/87971392.cms
Slice turns unicorn after raising $220 million from Tiger Global, Insight Partners
Post this funding, the Bengaluru-based startup is valued at over $1 billion—a five times increase since its previous funding round six months ago.source https://economictimes.indiatimes.com/industry/banking/finance/slice-turns-unicorn-after-raising-220-million-from-tiger-global-insight-partners/articleshow/87971317.cms
BANKING
Crypto exchanges have recorded a 15-50% drop in new sign-ups in November so far. They have also posted a dip in their monthly transactions after some investors squared off positions and adopted a “wait and watch” mode.from Banking/Finance-Industry-Economic Times https://ift.tt/3E26NRr
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