Banking & Finance

As per the circular, proposals for compromise settlements in respect of debtors classified as fraud or wilful defaulter shall require approval of the board in all cases.

The regulator said the penal action is based on the unsatisfactory response from the company.

In addition, he said, raising labour force participation rates, especially among women and older workers, could also boost productivity.

As per the guidelines, the lender must ensure that lending service providers publish the total number of portfolios and the respective amount of each portfolio under the guarantee arrangement offered.

Amid the kerfuffle, it gave some respite to small taxpayers by excluding payments using their international debit or credit cards up to Rs 7 lakh per annum from the liberalised remittance scheme.

Till now, this avenue for dud asset resolutions was available only with scheduled commercial banks and select non-bank finance companies, said RBI Governor Shaktikanta Das.

Now, with the default loss guarantee arrangements in digital lending, it will facilitate the orderly development of the digital lending ecosystem and enhance credit penetration in the economy.

The World Bank attributed the slowdown in India's growth to private consumption being constrained by high inflation and rising borrowing costs.

Sebi’s new proposal can make equity, debt and hybrid schemes of mutual funds cheaper and help investors fetch better returns in the long term.

Till April 30, the Walmart group firm has raised USD 750 million, including USD 200 million capital infusion from Walmart.

New Delhi: Power Sector PSU Power Finance has declared highest ever Profit after Tax with 13% increase in the FY'23 over FY'22. Consolidated net worth of the company rose by 16% to reach Rs. 1,11,981 Crores in the year, over Rs. 96,275 in…

PhonePe started its fundraising with a target of raising up to $1 billion in capital, post its domicile shift to India. Founded in December 2015, it has over 45 crore registered users.

Currently, RuPay cards are accepted at the points of sale (PoS) machine powered by Discover of the US, Diners Club, JCB of Japan, Pulse and Union Pay of China.

The company’s net interest income increased by 37.77% from Rs 3,987 crore in the year-ago quarter to Rs 5,493 crore.

Interest income grew to Rs 4,495 crore during the period under review, from Rs 3,426 crore in the corresponding quarter a year ago.

HDFC Bank said, in a regulatory filing on Friday, that it received a response from RBI on Thursday and that there are a few pending issues.

These norms came in the backdrop of the current practice of regulated entities (REs) of extensively leveraging IT and IT-enabled services (ITeS) to support their business models.

For the entire fiscal, it reported a 20.9 per cent increase in the net profit at Rs 45,997.1 crore.

The yield movements in the bond market due to the RBI’s decision to pause reflects the optimism of market participants.

Zurich: UBS Group AG is offering to buy Credit Suisse Group AG for as much as $1 billion, a deal that the troubled Swiss firm is pushing back on with backing from its biggest shareholder. Credit Suisse, which ended Friday with a…