According to the draft norms, lenders shall not extend loans where ownership of the collateral is doubtful. Lenders have sought relaxations on the Reserve Bank of India’s proposed loan against gold collateral norms, saying apart from posing operational and commercial issues, the guidelines may push lower income borrowers to informal money lenders. According to the … Read more
ICICI Bank’s write-offs rose to ₹9,271 crore in FY25 from ₹6,091 crore in FY24 | Photo Credit: DHIRAJ SINGH Banks, especially private sector lenders, have cleaned up their unsecured loan book aggressively in FY25, writing off A sharply higher amount of bad loans as against the previous fiscal. Country’s largest lender, State Bank of India’s … Read more
It had last raised $140 m in its Series F funding round led by GIC in the same year Fintech start-up CRED plans to raise around $75 million in a latest funding round, according to sources. The funding will see participation from existing investors including Singapore’s sovereign wealth fund GIC, Sofina and RTP Global. The … Read more
The deposit insurance cover was last increased from ₹1 lakh to ₹5 lakh with effect from February 4, 2020. | Photo Credit: iStockphoto The time may be ripe for doubling the deposit insurance cover to ₹10 lakh as the coverage limit of deposit insurance has declined to 2.5 times per capita GDP in FY25 from … Read more
The company announced a 52% rise in AUM taking the total assets to ₹2,400 crore. Gold loan NBFC Indel Money has announced a 52 per cent rise year-on-year in its assets under management (AUM), taking the total assets to ₹2,400 crore. The company has also reported a profit of ₹61 crore for the year, registering … Read more
According to the RBI’s May 8 directions, recognition of individual loan assets in the portfolio as NPA and consequent provisioning shall be the responsibility of the lender, irrespective of any DLG cover available at the portfolio level. | Photo Credit: FRANCIS MASCARENHAS The Reserve Bank of India’s (RBI) updated digital lending guidelines, which say that … Read more
Retail inflation in April 2025 was at 3.16%, the lowest year-on-year inflation after July 2019. | Photo Credit: FRANCIS MASCARENHAS The Reserve Bank of India (RBI) is likely to go for a third consecutive rate cut of 25 basis points on Friday as inflation continues to remain below the median target of 4 per cent, … Read more
Vedanarayanan Seshadri, Managing Director, Royal Sundaram General Insurance Royal Sundaram General Insurance on Wednesday announced the appointment of Vedanarayanan Seshadri as the new Managing Director effective May 28, 2025. Seshadri brings over 30 years of BFSI experience including 15 years in insurance leadership roles, a statement from the company said. His expertise includes insurance distribution … Read more
Funds-raise by BFSI companies via IPOs is expected to top ₹50,000 cr mark in FY26 | Photo Credit: iStockphoto A surge in initial public offers (IPOs) from companies in the BFSI (banking, financial services and insurance) space is expected in FY26, going by offer documents filed with SEBI. According to market estimates, fund-raising via IPOs, … Read more
Finance Minister Nirmala Sitharaman has urged public sector general insurance companies to create innovative insurance products that address emerging risks like cyber fraud and align with consumer demands. | Photo Credit: VELANKANNI RAJ B Finance Minister Nirmala Sitharaman on Wednesday directed public sector general insurance companies (PSGIC) to develop innovative insurance products tailored to new … Read more