HDFC hikes home loan rates

The hike follows a similar 35 basis points hike by the Reserve Bank of India (RBI) in its monetary policy review earlier this month. One basis point is 0.01 percentage point.

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Yes Bank completes transfer of Rs 48,000 crore worth bad loans to J.C. Flowers

The deal, the largest sale of bad loans in the Indian banking sector yet, comes more than two years after the central bank stepped in to take control of the lender after a dramatic rise in toxic assets alarmed investors and depositors.

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HDFC Bank targets issuing one million credit cards a month

The bank wants to double the current pace of half a million new credit card issuances every month, according to Parag Rao, country head for payments business, consumer finance, digital banking and marketing. The firm will announce partnerships across a range of industries from online retail to food delivery in the coming weeks to increase spending on cards, Rao said.

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Indian banks may set new credit growth record at Rs 19 lakh crore

Incremental credit growth in FY2023 is expected to remain at an all-time high of Rs.18-19 lakh crore in FY2023, which will be significantly higher than the previous high of Rs. 11.4 lakh crore in FY2019. Incremental credit growth expected to remain buoyant at Rs.15.0-16.0 lakh crore in FY2024, ICRA said.

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Loans worth Rs 10.09 lakh cr written off in last 5 fiscals: Nirmala Sitharaman

According to Reserve Bank of India (RBI) data, public sector banks have recovered Rs 4,80,111 crore, including Rs 1,03,045 crore from written-off loans, during the last five financial years, she said. As per inputs received from the RBI, scheduled commercial banks have written off an amount of Rs 10,09,511 crore during the last five financial years, Nirmala Sitharaman said during Question Hour.

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Banks looking at possibility of rupee trade with Bangladesh, African nations

India imported goods worth USD 3,520.83 million from Egypt, of USD 1,004.24 million from Algeria and USD 2,725.08 million from Angola in the last financial year. As far as Bangladesh is concerned, the import in the last year from the neighbouring country stood at USD 1,977.93 million, according to the data provided by the commerce ministry.

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Microfinance loans up 11 pc to Rs 71,916 cr in Q2 FY23: Report

According to the MFIN Micrometer Q2 FY2022-23 report, the country's microfinance loan portfolio stood at over Rs 3 lakh crore at end-September 2022, serving 6.2 crore unique borrowers with 12 crore loan accounts.

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IDFC First Bank announces waiver of charges on customer-centric services

The lender said it has waived fees on 25 commonly used banking services related to savings accounts such as cash deposit and withdrawal at branches, third party cash transactions, demand drafts, IMPS, NEFT, RTGS, cheque book, SMS alerts, interest certificates, insufficient balance for ATM transactions, international ATM usage and so on.

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Yes Bank assigns Rs 48,000 cr stressed asset loan portfolio to JC Flowers ARC

The bank had earlier declared JC Flowers Asset Reconstruction Private Limited (JC Flowers ARC) as the winner of the Swiss Challenge process for sale of its identified portfolio of stressed assets.

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Microfinance NPA at all time high of Rs 36,500 crore as loans restructured earlier showing stress

This translates into Rs 36,418 crore on gross non-performing assets, an all-time high. This is despite significant write-off of very sticky loans by lenders as a balance sheet cleaning tool.

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Coordinated efforts taken to contain Chinese loan apps: FM in Rajya Sabha

The minister said she had in the last 6-7 months held several meetings with representatives of the central bank, her ministry officials and Ministry of Corporate Affairs (MCA) on the issue of Chinese loan apps harassing and cheating people. "A lot of apps that have been badly misused have also been brought to the attention of MeiTY," she said. "So there is a coordinated effort to contain such apps. And also to take action against those who are misusing."

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Bank margins may come under stress amid deposit rate war

Over the past few weeks, lenders such as HDFC Bank, ICICI Bank and State Bank of India (SBI) have raised their deposit rates by up to a percentage point to garner more deposits so that they can lend to borrowers across segments — institutional, retail or small-business owners.

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HC pans IRDAI for calling disabled "sub-standard lives", says they can't be denied health cover

​​The court has asked the Insurance Regulatory and Development Authority of India (IRDAI) to take immediate steps to modify the terminology "sub-standard lives" in their regulations to ensure that such "unacceptable terminology" is not used while referring to persons with disabilities.

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