The government will soon notify a new accounting standard for insurance contracts, which would align Indian norms with international practices and help global investors better […]
Tag: finance
IIFL Home Finance raises $50 million loan from US International Development Finance Corp
IIFL Home Finance has raised a $50 million loan from US International Development Finance Corp (DFC) to grow its affordable housing finance portfolio with a […]
Credit Card default surges as retail credit grows
Credit card payment defaults have surged in June 2023 despite the growth of credit card lending, as per a TOI report. Unsecured credit portfolios and […]
France gets India’s UPI, tourists can make payments in Rupees: PM Modi
India’s Unified Payments Interface (UPI) payment system will soon be available in France. Prime Minister Narendra Modi announced this on Thursday. PM Modi said that […]
Reward points and freebies push credit card spends to record levels
Credit card usage has surged to a record, but what is driving it is not consumption, but the reward points and freebies associated with card […]
Vehicle loans outstanding rise 22 pc in May despite high interest rates
Vehicle loans outstanding increased by 22 per cent year-on-year to Rs 5.09 lakh crore in May, notwithstanding the Reserve Bank’s rate hike spree in 2022-23. […]
Satya MicroCapital raises Rs 53 crore in ECB from German bank
Microfinance company Satya MicroCapital raised about Rs 53 crore in external commercial borrowing from a German co-operative bank, which focuses on sustainable development. The deal […]
Aim to increase e-rupee transactions to 10 lakh per day by 2023-end: RBI DG T Rabi Sankar
MUMBAI: The Reserve Bank of India, which is aiming for a million retail central bank digital currency (CBDC) transactions per day by the end of […]
Hindujas look to raise up to $1b to finance Reliance Capital acquisition
New Delhi: The Hinduja family has sounded out global credit funds to raise up to $1 billion (about ₹8,200 crore) to finance the potential acquisition […]
The RBI has just lobbed a disruptor at the card sector
In a recent circular, the Reserve Bank of India (RBI) seems to have fired a shot in India’s war on international card networks. The country […]