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HDFC Bank launches instant auto loan product

HDFC Bank on Thursday announced its plans to offer instant auto loans called ZipDrive to its customers in 1,000 cities.“The offering is now being ...

Axis Bank plans to raise ₹15,000 crore as capital

Private sector lender Axis Bank will raise ₹15,000 crore as capital through various instruments.The decision was taken at a meeting of the bank’s ...

Liquidity, asset-quality will remain challenging for NBFIs: Fitch Ratings

Fitch Ratings expects liquidity and asset-quality challenges to remain as key issues for the non-banking finance institution (NBFI) sector, as ...

Non-bank NPAs could rise to 5-7% by March 2021: ICRA

The asset quality of non-banking finance companies (NBFCs) could weaken sharply in the current fiscal, as the Covid-19-related lockdowns have ...

Blackstone leads race for major stake in L&T MF

Private equity firm Blackstone Group has emerged as the front-runner to acquire a significant stake in Mumbai-based L&T Mutual Fund. Stock broker ...

RBI liquidity scheme for NBFCs/ HFCs to mitigate risk of defaults for banks, MFs

But the scheme will offer relief only to certain NBFCs, for the short-term. Clarity over group limits is also critical

Now, get a gold loan sitting at home

Muthoot Finance’s Loan@Home digital service takes into account Covid-related movement restrictions and safety concerns

Govt floats SLS Trust to bail out stressed NBFCs, housing fin cos

To buy short-term papers from entities to address systemic risks posed by their liquidity crunch

Online sale of non-essential goods returning to pre-Covid levels

Sale of non-essential goods on online platforms, which had come to a standstill during the lockdown, is beginning to return to pre-Covid levels for ...

UPI, Bharat BillPay transactions scale new high in June

Digital payments registered a sharp rebound in June as the economy began to slowly open up and consumers continuing to prefer contactless payments.The ...

Covid will leave banking system with capital shortfall of at least $15 billion over two years: Fitch

Capital requirements could soar to $58 billion in FY22 if economic contraction is worse than expected, says ratings agency

No change in small savings rates for July-Sept quarter

Govt’s move will encourage more people to invest in small savings

Aye Finance to open up lending tap in July to micro enterprises

Sees 25-30 per cent overall growth in loan portfolio in FY20-21 if Covid-19-induced disruptions settle by September

Premji Invest and SBI General Insurance explore joint bid to acquire Future Generali: Report

Last year, Premji Invest had acquired a 16.01 per cent stake in SBI General Insurance Company from Insurance Australia Group

New India Assurance posts ₹127-crore net profit in Q4

State-run general insurer New India Assurance reported a net profit of ₹126.6 crore for the fourth quarter of 2019-20, compared to a net loss of ...

Chola Insurance sees traction in health, two-wheeler, tractor biz amid overall industry decline

Chola MS General Insurance has indicated that the company is reaching close to pre-Covid-19 levels in two-wheeler insurance business, even as the ...

Term of Union Bank MD extended

The government has extended the term of Rajkiran Rai G as Managing Director and of Union Bank of India by two years till May-end 2022.As per Finance ...

Non-food bank credit growth decelerates to 6.8% in May

Non-food bank credit growth decelerated to 6.8 per cent in May 2020 from 11.4 per cent in May 2019 due to deceleration in credit growth to agriculture ...

India registers surplus $0.6 billion in current account in Q4

The surplus is primarily on account of lower trade deficit at $35 billion in the March quarter, says RBI

Chairman, two directors of Dhanlaxmi Bank resign

Sajeev Krishnan, Part-time Chairman and independent director of Dhanlaxmi Bank, has resigned from the Board due to personal reasons, the bank said ...

ECLGS: Loan sanctioned exceed ₹1-lakh crore

The much talked about ₹3-lakh crore 100 per cent Emergency Credit Line Guarantee Scheme (ECLGS) to support MSMEs in these trying times has seen loans ...

Lakshmi Vilas Bank appoints CFO

Our BureauLakshmi Vilas Bank, on Tuesday, appointed Hariharan K as Chief Financial Officer. “…the audit committee of the board and the board, in ...

Multiplex chains to remain shut for another month

Multiplex chains will remain shut at least for another month as the Central government has not given them the nod to open doorsin its latest ...

HDFC Bank launches app for farmers

Private sector lender HDFC Bank has launch e-Kisaan Dhan app for farmers across India to access a bouquet of agricultural and banking services on ...

Old legal cases haunt companies acquiring assets under IBC

Two years after it was acquired, the old serious fraud cases of Bhushan Steel Ltd (now Tata Steel BSL) and its subsidiary Angul Energy Ltd, continue ...

SBI launches YONO branches in Navi Mumbai, Indore, Gurugram

Move gives the bank’s digital banking app a brick-and-mortar presence

Covid-19: Bank staff in Kerala gripped by fear of community spread

The suspected potential for community spread of the Covid-19 pandemic has raised the hackles of bank staff in North Kerala, which is witnessing ...

Indian banks’ NPLs to spike to 13-14% of total loans, warns S&P

The Covid-19 pandemic may set back the recovery of India’s banking sector by years, which could hit credit flows and, ultimately, the economy, warned ...

Swiggy ties up with ICICI Bank to launch digital wallet

‘Swiggy Money’ helps customers hassle-free payment for food orders

Axis Bank board to meet on July 2 to explore fund raising

The board of directors of private sector lender Axis Bank will meet on July 2 to look at fund-raising plans.While the bank did not specify the amount ...

Covid-19 fallout: Insurance plans with OPD component covering mental illnesses to see spike in demand

Insurance plans with specific OPD component covering mental illnesses is likely to witness a rise with the Covid-19 pandemic triggering a surge in ...

Fino Payments Bank looks to other States after success in onboarding women bankers through Bihar’s Jeevika scheme

Fino Payments Bank, which has been working with the Bihar government to train women through the state’s Jeevika scheme to work as customer service ...