A special prevention of money laundering act (PMLA) court on Thursday granted bail to ABG Shipyard chairman, Rishi Agarwal and his wife Anupama, in an […]
Category: BFSI
Bank of Baroda, Indian Overseas Bank hike lending rates; SBI also nudges up its deposit rates
Bank of Baroda and Indian Overseas Bank have increased their marginal cost of fund-based lending rates (MCLR), following a hike in the interest rates on […]
NBFCs appeal for rollback of tax provisions on MLD returns
Non-bank lenders are seeking a rollback of the budget announcement that has classified returns on market-linked debentures (MLD) as short-term capital gains, resulting in higher […]
SBI hikes MCLR-based lending rates by 10 bps
The nation’s largest lender State Bank of India on Wednesday marginally increased the short-term lending rates across overnight to three year maturities by 10 basis […]
Jammu and Kashmir Bank likely to sell Rs 303 crore KSK Mahanadi Power debt to ASREC
Jammu and Kashmir Bank is likely to sell its ₹303 crore KSK Mahanadi Power debt to ASREC (India) Pvt Ltd, an asset reconstruction company, said […]
RBI greenlights 32 companies’ applications to operate as online payment aggregators
The Reserve Bank of India on Wednesday said that it has granted in-principle approval to 32 payment aggregators including Amazon Pay, Google India, Reliance Payment […]
Several banks open special vostro accounts for trade in rupee, more countries expressing interest
Several banks, including HDFC Bank and UCO Bank, have opened special vostro accounts to facilitate overseas trade in the rupee and many countries have expressed […]
In a first for India, Paytm Payments Bank launches UPI LITE feature
Paytm Payments Bank Limited (PPBL) on Wednesday went live with its UPI LITE, a feature enabled by National Payments Corporation of India for multiple small-value […]
Goldman Sachs leads India fintech funding while deals dry up
Indian fintech startup InsuranceDekho raised $150 million from a clutch of investors led by Goldman Sachs Asset Management, an unusually large investment round that will […]
Payment aggregators acting as loan service providers cannot handle funds between the lender and the borrower
The Reserve Bank of India in a set of FAQs on digital lending guidelines has clarified that payment aggregators acting as loan service providers (LSP) […]