Financial lessons learnt during lockdown

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India Ratings maintains negative outlook on NBFCs, HFCs for H2 FY21

The Reserve Bank of India (RBI) has allowed lenders to restructure their book which was not more than 30 days past due as on February 29, 2020. The credit cost that has to be provided on the restructured book is higher of 10 per cent or extant provisioning held on those assets.

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Ujjivan Small Finance Bank forays into small commercial vehicle finance for tier II, III cities

Ujjivan SFB said as part of the 'Raftaar Loans' product mix, the customised offerings will be available across southern and eastern regions: Karnataka, Tamil Nadu, and West Bengal.

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Edelweiss Tokio Life Insurance rolls out initiative to focus on employee well-being

Over the past few months, the insurer has taken several steps towards improving well-being for employees, including rolling out counselling services, doctors on call, mediation sessions, among others.

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Health, fire hazard lead growth for insurance companies in August

New premiums for the non-life industry climbed 10% in August to Rs 17,630 crore, latest data from the General Insurance Council showed. While fire premiums grew by 29% in August to Rs 1,180 crore, premiums accrued from health policies rose a quarter to Rs 4,490 crore.

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Shift towards digital banking is permanent: SBI Chairman, Rajnish Kumar

"Progressively, we are seeing that there has been a shift away from branches and even from ATMs. The number of transactions on ATMs have come down from 55 to 29 per 100. On the other hand, the digital transactions, which are on mobile and internet banking, have gone to 55 out of 100 transactions," Kumar said at the Global Business Summit.

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Government extends term of Uday Kotak as IL&FS chairman by one year

The government through a gazatte notification extended term of Kotak, who is managing director and chief executive officer of Kotak Mahindra Bank, till October 2, 2021.

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Temasek looking to expand its platform investments in India, eyes energy & health-tech segments

Temasek has made some follow-on investments, called as top-ups in the private equity parlance, in the last few months in its existing portfolio firms such as Zomato and UST Global. The fund is now the second largest shareholder of online-pharmacy start-up Pharmeasy with its $220 million investment last year.

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PhonePe joins ranks with Paytm against Google

PhonePe says Google is playing house, dealer with 6 out of 8 seats at the poker table.

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One year later, PMC Bank depositors still struggling to get their money back

PMC Bank depositors have spent the last one year holding protests, meeting politicians, writing to various authorities in an effort to get their hard-earned money back.

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India's high growth path not foreordained, reforms the 'principal challenge': Warburg Pincus CEO

Warburg Pincus has invested USD 5 billion in India since 1995. Its bets include HDFC, Kotak Mahindra Bank and Bharti Airtel, where it made handsome returns, setting a milestone for risk capital investing.

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Almost Rs 95,000 crore loans outstanding under SHG bank scheme: Narendra Singh Tomar

According to the statement, loans are sanctioned by the banks in the name of self help groups which in turn distribute them to individual members who use them for various activities. Banks do not keep records of loans taken by individual members.

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No clamour or rush for restructuring of loan: SBI Chairman, Rajnish Kumar

"On the banking side, what I am saying, there is not too many demand. It may be contrary to what the public discourse is. Reasons could be many. One is lot of clean-up has already happened and lot of deleveraging done. More than the banks, corporates themselves are reluctant to carry the tag of restructuring. That is the feeling I am getting," he said.

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