IndoStar Capital Finance announces sale of IndoStar Home Finance to EQT
The transaction is subject to customary conditions precedent, including receipt of RBI approval, consents from lenders and shareholders’ approval. Further, EQT plans to invest INR 500 crore into IHFPL upon or shortly after closing of this transaction, and the board of IHFPL has granted an in-principle approval for such infusion.
PNB downgrades MTNL’s loan accounts to NPA over non-payment of interest, instalment
As per a filing by MTNL to the stock exchanges that attaches a communication from PNB dated September 13, 2024 in this regard, across multiple accounts the outstanding amount adds up to about Rs 441 crore while the overdue amount is over Rs 46 crore.
RBI imposes monetary penalty on HDFC Bank, Axis Bank
In the case of HDFC Bank, the RBI imposed a penalty of Rs one crore after the RBI found that the bank gave gifts in the form of paying first-year premium for the complimentary life insurance cover costing more than Rs 250 to the depositors at the time of accepting certain deposits.
Caspian Debt to Merge with BlackSoil Capital
After the merger is complete and regulatory approvals are received, Caspian Debt will be fully integrated into BlackSoil, a press release said. This strategic amalgamation will position BlackSoil, the combined entity, as one of the largest players in the alternative credit segment it operates in
RBI says 97.96% of Rs 2000 notes back in the banking system
The total value of Rs 2000 banknotes in circulation, which was Rs 3.56 lakh crore at the close of business on May 19, 2023, when the withdrawal of Rs 2000 banknotes was announced, has declined to Rs 7261 crore at the close of business on August 30, 2024, the RBI said.
Is 7% GDP growth the new normal?
SBI ecnomists has said that for the Asia's third largest economy, an economic growth of 7 per cent looks to be the new normal. "RBI...
Microlending industry sees slower loan growth in Q1, deterioration in recovery
India’s microlending industry witnessed slower growth and recovery problems in the first quarter of the financial year due to multiple industry factors, said industry association Sa-Dhan in a press release.
Declining liquidity coverage ratios to slow down credit growth for banks: ICRA
Proposed changes in liquidity coverage ratio framework to further moderate the reported liquidity coverage ratio (LCR) and constrain the credit growth for banks, says Icra
RBI Governor Shaktikanta Das speech full text at Global Fintech Fest
RBI Governor Shaktikanta Das speech full text at Global Fintech Fest
RBI gives fintech SRO status to FACE
Of the remaining two applications, one application has been returned with a provision for resubmission after meeting certain requirements. The third application is under examination, the RBI said.