Fairfax- and Capital Group-backed IIFL Finance is aiming to triple its co-lending to more than Rs 13,000 crore in a year, with the retail focused […]
Category: BFSI
Shivalik Small Finance Bank raises Rs 111 crore from Quona Capital, Accel and Bharti AXA Life Insurance
Shivalik Small Finance Bank raised Rs 111 crore in equity from global venture capital firms Accel and Quona Capital along with Bharti AXA Life Insurance. […]
Leading NBFCs offer up to 8.84% to attract retail savings
Top-deck non-bank lenders, such as Shriram Transport Finance, are seeking to grab a bigger slice of household savings, offering returns as high as 8.84% on […]
LIC increases stake in Capri Global to 9%, buying 2% more at Rs 257 crore
Insurance giant Life Insurance Corporation of India (LIC) is spending over Rs 250 crore in Capri Global to increase its stake in the company by […]
RBI imposes Rs 1.76 crore penalty on Vakrangee for non-compliance with regulations
The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 1.76 crore on Vakrangee Limited (the entity) for non-compliance with certain provisions […]
Bima Sugam to be game changer for insurance sector, says IRDAI Chairman Panda
Insurance regulator IRDAI is working on Bima Sugam, which will act as a game changer in the insurance sector by providing a one-stop platform for […]
Credit card numbers continue to slip after RBI’s deactivation order
The Reserve Bank of India (RBI) order on discontinuing inactive credit cards continued to negatively impact the industry size, with top-tier lenders such as HDFC […]
Remove withdrawal restrictions on basic savings bank deposit accounts for digital payments: Report
The Reserve Bank needs to keep digital payments outside the purview of withdrawal restrictions on zero-balance basic savings bank deposit (BSBD) accounts and let the […]
Illegal digital lending apps driving citizens to suicide, says Ministry of Home Affairs
Following the arrest of Chinese nationals allegedly involved in digital loan app scam, the Ministry of Home Affairs has in a letter to states and […]
Infibeam Avenues receives RBI in-principle nod for payment aggregator licence
Infibeam Avenues, the operator of CCAvenue, has received an in-principle approval from the Reserve Bank of India (RBI) to operate as a payment aggregator. “Under this provision, […]