Source: Live Mint A Cash Deposit Machine or Automated Deposit-cum- Withdrawal Machine (ADWM) — is an ATM-like machine that enables depositors to deposit cash into their accounts using the ATM-cum-debit card. One can use this machine to immediately credit their account without visiting the branch. The transaction receipt gives an updated account balance. Meanwhile, it…
Source: Business Standard RBI DG Swaminathan Janakiraman 3 min read Last Updated : Sep 30 2024 | 7:31 PM IST The Reserve Bank of India (RBI) Deputy Governor Swaminathan J directed small finance banks (SFBs) to adopt responsible lending practices, as the target group of such lenders is mainly marginalised and underserved sections of…
Source: Business Standard 2 min read Last Updated : Sep 27 2024 | 8:45 PM IST Banks struggled to mobilise large deposits to meet the increasing credit demand in the last two financial years, a report said. Outstanding credit disbursed by Scheduled Commercial Banks (SCBs) was at the highest level in 2023-24 amounting…
Source: Business Standard 3 min read Last Updated : Sep 26 2024 | 9:20 PM IST By Saikat Das and Preeti Singh Indian lender HDFC Bank Ltd. has sold a housing loan portfolio of about 60 billion rupees ($717 million), seeking to further lighten its credit load amid regulatory pressures on the industry. …
Source: Live Mint As India’s economy grows, the banking sector faces a pressing question: is the sluggish growth in Current Accounts & Savings Accounts (CASA) and deposits just a temporary dip, or the beginning of a deeper, long-term trend? With the country’s credit demand rising, the slowdown raises red flags for profitability and financial stability. …
Source: Live Mint Global brokerage house Phillip Capital, in a recent note, observed that it has witnessed sectoral shifts within the Nifty and broader Indian equity markets, focusing on changes over both long and short terms. According to the report, investment-oriented sectors, including cement and building materials, gained considerable traction post the Covid-19 pandemic and…
Source: Live Mint Benchmark indices Sensex and Nifty hit new highs in the previous session on September 24. However, as of September 25, trading remains subdued, with muted movement across the markets. On September 24, Benchmark Sensex reached a record high of 85,163.23, crossing the 85,000 mark for the first time, while Nifty set a…
Source: Business Standard In India, retail sales peak during October-December, when the nation of 1.4 billion celebrates major festivals | Representative Picture 2 min read Last Updated : Sep 24 2024 | 2:17 PM IST Indian banks are set to issue more certificates of deposit to meet year-end loan demand as deposit mobilisation remains…
Source: Business Standard 3 min read Last Updated : Sep 24 2024 | 8:50 PM IST State Bank of India’s (SBI’s) reported move to convert its outstanding debt into equity in Supreme Infrastructure India Limited (SIIL) has invited sharp criticism from Opposition Congress which on Tuesday sought the intervention of Reserve Bank of India…
Source: Live Mint Credit cards are one of the easiest ways to buy your favourite products without paying for them in cash immediately. But what does it mean for banks that provide you credit? How do they benefit by lending money to you? Or do they have to wait till the due date to get…