Category: Banking

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 […]

More than half of all the businesses that secured approvals for their debt resolution schemes and about two-thirds of the cases cleared in July were in the real estate and hospitality sectors. The National Company Law Tribunal approved the debt resolution plans of 22 businesses in August, maintaining the pace of salvaging distressed companies, official […]

The insolvency regulator has proposed that the resolution plan submitted by an investor won’t extinguish the creditors’ right to proceed against loan guarantors to the stressed firm and enforce realization of guarantees governed through various agreements. The move, suggested in a discussion paper by the Insolvency and Bankruptcy Board of India (IBBI), will make it […]

In 2021, the Securities and Exchange Board of India (Sebi) had directed all individual demat and mutual fund folio holders to submit a ‘choice of nomination’ or explicitly opt-out by June 30, 2022. The markets regulator has said demat accounts and mutual fund folios will not be frozen if nomination details are absent. Earlier, it […]

The Private wealth funds and family offices are stepping in to fill the gap left by banks and non-banking finance companies (NBFCs) in investments into alternative investment funds (AIFs) following the Reserve Bank of India’s tightened norms for financial institutions investing in AIFs. Vivriti Asset Management, which had a 15% share of banks in its […]

Private sector banks have further consolidated their position in the lending market post Covid, backed by their expertise in retail and services sector lending. Their cumulative market share has risen to 42% at the end of March from 35% four summers back, when the Covid pandemic began spreading in India in March 2020, according to […]

Investors and companies based in India will now be able to invest in overseas funds, including those set up in the United States and Singapore, without any restrictions. The move follows an amendment by the Reserve Bank of India (RBI) last week regarding Overseas Portfolio Investments (OPIs). The RBI on Friday issued a circular amending […]