The FinTech Hub
Source: Business Standard 2 min read Last Updated : Oct 07 2024 | 3:47 PM IST HDFC Bank has raised its marginal cost of funds based lending rate (MCLR) by 5 basis points (bps) on select tenures, effective October 7. Consequently, HDFC Bank’s MCLR now ranges from 9.10 per cent to 9.50 per cent,…
Source: Business Standard 2 min read Last Updated : Oct 04 2024 | 9:57 PM IST Deposit mobilisation and credit offtake in banking moderated in the first half this financial year (H1FY25) over the same period a year ago. The moderation in credit offtake was much sharper with year-to-date (YTD) growth (till September…
Source: Business Standard 2 min read Last Updated : Oct 04 2024 | 7:56 PM IST Private sector banks offloaded loans worth Rs 21,000 crore through securitisation deals in the second quarter ended September 2024 (Q2 FY25) to generate funds amid intense competition for deposits. This will also help to improve the credit-deposit (C/D)…
Source: Business Standard 2 min read Last Updated : Oct 02 2024 | 6:45 PM IST The loan sanctions by non-banking finance companies (NBFCs) in the country rose by 12 per cent year-on-year (Y-o-Y) in the first quarter ended June 2024 (Q1FY25) with robust growth in segments like home, auto, and personal credit. Sequentially,…
Source: Business Standard RBI DG Swaminathan Janakiraman 2 min read Last Updated : Sep 30 2024 | 5:09 PM IST India’s small finance banks (SFBs) should strengthen governance to ensure sustainable business growth while adopting responsible lending practices, a deputy governor at the central bank said in a speech. “It is disheartening to…
Source: Business Standard Cred makes more than 90 per cent of its revenue from three verticals: lending, payments, and insurance. 2 min read Last Updated : Sep 30 2024 | 7:22 PM IST Fintech firm Cred reported a decline in its operating losses to Rs 609 crore in financial year 2024 (FY24), a substantial…
Source: Business Standard 4 min read Last Updated : Sep 30 2024 | 8:33 PM IST The Reserve Bank of India (RBI) on Monday directed banks and non-banking finance companies (NBFCs) offering gold loans to thoroughly review their policies, processes, and practices to identify any gaps, while closely monitoring their gold loan portfolios amid…
Source: Business Standard 2 min read Last Updated : Sep 27 2024 | 5:46 PM IST India’s foreign exchange reserves continued to rise for a sixth straight week to a record high of $692.3 billion as of Sept. 20, data from the central bank showed on Friday. The reserves rose by $2.84 billion…
Source: Business Standard 3 min read Last Updated : Sep 26 2024 | 8:12 PM IST Investors are increasingly planning for old-age security through retirement plans of mutual funds. The assets under management (AUM) of these funds surged from Rs 8,408.96 crore on August 31, 2019, to Rs 30,394 crore on August 31, 2024, an…
Source: Business Standard 3 min read Last Updated : Sep 25 2024 | 8:44 PM IST Facing sluggish deposit growth, banks turned to issuing certificates of deposit (CDs) in September to mobilise funds. Banks have issued Rs 1.35 trillion worth of CDs so far this month, marking a 65 per cent increase compared to…
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