Category: Banking & Finance

Congress on Sunday attacked the BJP after a case was lodged against Finance Minister, Nirmala Sitharaman and others on a complaint relating to the now-scrapped electoral bonds scheme and demanded her resignation for “undermining democracy”. The opposition party reiterated its demand for a Supreme-court monitored inquiry through an SIT into the whole electoral bond scheme. […]

Markets regulator, Sebi is expected to take steps to rein in the retail frenzy in F&O trading in a board meeting on Sept 30. These decisions could include tightening of rules for the speculative futures & options segment of the market and stricter margining system. The Sebi board is also expected to give its nod […]

JP Morgan CEO Jamie Dimon, in an interview, highlighted global economic concerns, particularly the persistence of inflation and geopolitical risks. He emphasized the importance of geopolitical factors over financial markets in shaping the future, while acknowledging the strength of the US economy. Dimon also expressed optimism about India’s economic progress, citing reforms like Aadhaar and […]

BSE has warned merchant bankers that sometimes discrepancies have come to light, and that due diligence based on SEBI guidelines needs to be followed. In a potential sign that stock exchanges are tightening regulations on SME issuers, the BSE has cautioned that merchant bankers should conduct thorough due diligence before submitting draft papers, according to […]

Balance-level delinquencies in credit card segment stood at 1.8% in Q1FY25 – highest among all other credit divisions. Balance-level delinquencies in the credit card segment saw a 17 basis points (bps) year-on-year (Y-o-Y) rise in the quarter ending June 2024 (Q1FY25). In all other credit segments, including personal loans, delinquencies declined even as retail credit […]

The report, which tracks digital loans for the June quarter, highlights disbursement trends from 33 FACE members. Loans disbursed by digital lenders have risen by 27% to Rs 37,676 crores, according to a report released by the Fintech Association for Consumer Empowerment (FACE), an RBI-recognized Self-Regulatory Organization in the Fintech sector (SRO-FT). However, this represents […]

Banks are urging changes to insolvency regulations to prevent promoters from manipulating their companies’ size to qualify as MSMEs and retain control during bankruptcy proceedings. This move aims to address concerns about delinquent borrowers exploiting the system by downsizing assets and staff to benefit from special provisions for MSMEs. Banks will push for a change […]

Axis Bank, the country’s third-largest private lender, was hit with a Rs 1.9 crores (US$229,000) penalty from the Reserve Bank of India (RBI) earlier in September for regulatory non-compliance. But that didn’t come as a surprise to the employees of the 31-year-old bank. The irregularities at Axis Bank involved employees opening savings accounts for ineligible […]

In addition to the Companies Act amendments, the Ministry of Corporate Affairs is also working on changes to the Insolvency and Bankruptcy Code (IBC). The proposed amendments will further clarify the priority of repayments owed by distressed companies to statutory agencies. The Government has likely finalized amendments to the Companies Act, aiming to ease capital […]

Under CGTMSE, the guarantee cover available for micro enterprises is up to 85% for loans up to Rs 5 lakhs, while for loans between Rs 5 lakhs and Rs 5 crores, the cover is up to Rs 75%. Rajneesh also noted the 5-crore Udyam registration milestone achieved last week as part of the Ministry’s drive […]