Indian banks might have been poorer by more than ₹70,000 crore, representing close to one-third of their reported profits in 2022-23, if they had to […]
Tag: bfsi
Finance ministry opts to simplify Insurance Act first; industry awaits reforms
Ahead of anticipated major reforms in the Insurance Amendment Bill, the ministry of finance has proposed a separate exercise aimed at simplification of pre-Constitutional enactments, […]
CreditAccess Grameen signs a $200 million external commercial borrowing deal
India’s largest NBFC-MFI CreditAccess Grameen has inked a $200 million external commercial borrowing deal with foreign banks and overseas branches of Indian banks. It has […]
SIDBI’s net income jumps 71 pc to Rs 3,344 crore in FY23
The Small Industries Development Bank of India (SIDBI) on Tuesday said its net income jumped 71 per cent on-year to Rs 3,344 crore in FY23. […]
RBI relaxes restrictions on HDFC Credila regarding on-boarding of new customers
Housing Development Finance Corporation (HDFC) on Tuesday said the Reserve Bank of India has relaxed restrictions on its education finance arm, HDFC Credila, related to […]
HDFC-HDFC bank merger likely to be effective July 1
The merger of HDFC Corp with the country’s largest private lender HDFC Bank will likely take effect July 1, chairman of India’s mortgage-lending pioneer Deepak […]
RBI in talks with leading global peers to promote digital rupee payments
The Reserve Bank of India (RBI) is in talks with other major global central banks to promote digital rupee for cross-border payments, Governor Shaktikanta Das […]
ICICI Prudential gets notice for alleged GST liability of Rs 492 crore
A central agency tasked with preventing the leakage of Goods and Services Tax (GST) revenue has completed its probe into at least six of the […]
S&P raises assessment of Indian banking sector on “strong recovery”
S&P Global Ratings on Tuesday raised its assessment of India’s banking sector, citing a “strong recovery” underway in the Indian financial sector. India’s ‘Banking Industry […]
Banks told to push foreign trade in Rupee
Banks are being nudged to popularise the settlement of cross-border trade in rupee. While many businesses – driven by commercial convenience, balance of payments, and […]