Tata Power Renewable Energy Ltd (TPREL) has partnered with Bank of Baroda to offer financing for residential rooftop solar projects under the PM - Surya Ghar Muft Bijli Yojana. The partnership aims to make clean energy solutions accessible to households across India. Customers can avail loans up to Rs 6 lakh at an interest rate starting at 7 per cent per annum. The scheme offers flexible repayment tenures and requires a margin contribution of 10-20 per cent depending on the installation size.
Exposure to commercial projects under lens.
Review your family emergency fund and replenish it if needed. Revisit financial goals to see if there is any change in timeline or the corpus required.
Finance Minister Nirmala Sitharaman on Monday said action will be taken in case there are violations of well laid down processes for auctioning of gold by banks and NBFCs when a borrower fails to pay the gold loan. During Question Hour in Lok Sabha, she said Non Banking Financial Companies (NBFCs) and Scheduled Commercial Banks (SCBs) are guided by similar rules.
Trading sentiment in the equity market will largely be driven by domestic corporate quarterly earnings, any update related to US tariffs and foreign fund movements this week, analysts said. Investors would also focus on world market trends, movement of global oil benchmark Brent crude and the rupee-dollar trend for further cues, experts noted.
The size of the Reserve Bank's balance sheet as on March 31, 2025 increased by 8.20 per cent year-on-year, leading to a bumper dividend of Rs 2.69 lakh crore for the central government. Increase on assets side was due to rise in gold, domestic investments and foreign investments by 52.09 per cent, 14.32 per cent and 1.70 per cent, respectively, said the RBI's Annual Report for the Year 2024-25 released on Thursday.
This loan growth has been largely driven by the top 10 corporate groups.
Finance Minister Nirmala Sitharman on Monday held a performance review meeting with heads of public sector banks and asked them to make concerted efforts to garner deposits. Deposits have been growing 300-400 basis points lower than the credit growth in the last few months, creating an asset-liability mismatch for banks. During deliberations on the deposit mobilisation, she said that while the credit growth has picked up, mobilisation of deposits could further be improved to fund the credit growth sustainably, and asked banks to make concerted efforts to garner deposits by conducting special drives.
As the fight for deposits intensifies, the cost of money will rise and the margin will be under further pressure, points out Tamal Bandyopadhyay.
The bad assets or gross NPAs of commercial banks fell to a 12-year low of 2.8 per cent in March 2024 and may go down further to 2.5 per cent by the end of the current fiscal, said the RBI's Financial Stability Report (FSR) released on Thursday. Scheduled Commercial Banks' (SCBs) gross non-performing assets (GNPA) ratio fell to 2.8 per cent, and the net non-performing assets (NNPA) ratio to 0.6 per cent at the end of March 2024. "The asset quality of SCBs recorded sustained improvement, and their GNPA ratio moderated to a 12-year low in March 2024. Their NNPA ratio too improved to a record low," said the June FSR.
Payments banks are expecting to get the rights to offer small-ticket loans sometime soon, according to an industry source familiar with the matter. The industry has been in talks with the Reserve Bank of India (RBI) for some time in seeking lending rights.
Real estate investment trusts (Reits) are in talks with regulatory bodies - the Securities and Exchange Board of India (Sebi) and the Reserve Bank of India (RBI) - to seek changes in regulations that will allow easier access to capital. The Indian Reits Association (IRA) said it has approached the market regulator seeking to get classified as an 'equity' asset, which will open the path for their inclusion in equity indices and also make investment by mutual funds (MFs) easier. The association is also in active discussions with the RBI to allow banks to lend to a Reit.
'Our unsecured loan is not exactly unsecured. It is backed by cash flow of customers.'
Central Bank of India classified its loans to Go First as non-performing assets (NPAs) in the July-September quarter (second quarter, or Q2) of 2023-24 (FY24). The no-frills carrier has been under insolvency proceedings since May 2023 and ceased operating flights on May 3 this year. The public sector lender's exposure, including government-guaranteed emergency credit to the ailing airline, amounts to about Rs 2,000 crore.
'Although we are facing constraints related to lending and resource mobilisation, the government is aware of these.'
'There has been a change in the advances mix, with the share of corporate loans decreasing.'
Saurav Ghosh's step-by-step guide will help you understand what bonds are, how they help investors make money, how much money they make and which bonds to invest in.
In today's rapidly evolving digital payment landscape, security concerns remain a top priority for stakeholders across sectors.
Treasury gains helped ICICI Bank post a nearly 10 per cent increase in the consolidated net profit for the April-June quarter at Rs 11,696 crore on Saturday. Growth in the core income slowed for the country's second largest private sector lender, but the treasury operations helped it report a 14.62 per cent rise in its post-tax profit at Rs 11,059 crore on a standalone basis. The core net interest income (NII) growth came at a multi quarter low of 7.3 per cent to Rs 19,553 crore for the reporting quarter.
In a double-dose bid to boost growth and employment prospects, the Union Cabinet on Tuesday approved a Rs 2.07 trillion outlay for a research development and innovation (RDI) Scheme to fund private sector innovations, and an employment-linked incentive (ELI) to create over 35 million new jobs over the next two years.
Prashant A Bhonsle explains the tax benefits you can avail under Section 80E of the Income Tax Act.
Credit outstanding to the housing sector rose by nearly Rs 10 lakh crore in the last two fiscals to reach a record Rs 27.23 lakh crore in March this year, according to RBI's data on 'Sectoral Deployment of Bank Credit'. Experts from banking and real estate sectors attributed this growth in housing credit outstanding to a strong revival in the residential property market post-COVID pandemic on pent-up demand. According to the data of the Reserve Bank of India (RBI) on sectoral deployment of bank credit for March 2024, the credit outstanding to the housing (including priority sector housing') stood at Rs 27,22,720 crore in March 2024, up from Rs 19,88,532 crore in March 2023, and Rs 17,26,697 crore in March 2022.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
'We started affordable housing loans that has good traction and the books have grown to Rs 750 crore as of the end of last quarter.'
Co-lending deals between non-banking financial companies (NBFCs) and banks are likely to rise after the Reserve Bank of India's (RBI's) decision to increase the risk weight on consumer credit, industry leaders and experts say. Smaller NBFCs, they add, may increasingly opt for co-lending as capital markets could become costlier for them. "Smaller NBFCs will be more comfortable with co-lending because they are geography-specific in terms of industry or customers.
Prashant A Bhonsle lists 5 major points you need to keep in mind before applying for a student loan.
The opposition party is likely to use this new-age technology to reach out to a wider section of people, specially youngsters who are tech-savvy.
In a relief for foreign firms giving loans to Indian subsidiaries, tax authorities have said goods and services tax (GST) will not be imposed on them, subject to some caveats. Additional fees, commissions, or related payments - over and above the amount charged as interest - on these loans will attract GST at 18 per cent, the Central Board of Indirect Taxes and Customs (CBIC) has said.
India's disaster relief assistance has increased substantially in recent years, from Rs 1.60 crore in FY23 to Rs 41.18 crore in FY24, and Rs 27.88 cr in FY25 (until January 2025).
Private sector lender Yes Bank on Saturday reported a 46.7 per cent growth in net profit to Rs 502 crore for the June 2024 quarter, helped by a reduction in provisions. The city-headquartered bank's core net interest income rose 12.2 per cent to Rs 2,000 crore. Its net interest margin stayed flat at 2.4 per cent.
The Enforcement Directorate on Wednesday said it has attached fresh assets worth Rs 29.75 crore of fugitive diamond trader Nirav Modi under the anti-money laundering law. A provisional order has been issued under the Prevention of Money Laundering Act (PMLA) to attach these assets that are in the form of bank deposits, land, and buildings, it said in a statement.
JM Financial on Wednesday said it had a "careful and detailed review" of the Reserve Bank's order imposing restrictions on the company's financing business and asserted that there was "no material deficiencies" in its loan sanctioning process. The Reserve Bank on Tuesday imposed restrictions on JM Financial Products Ltd after it found the company indulged in various manipulations, including repeatedly helping a group of its customers to bid for various IPOs (initial public offerings) by using loaned funds. "After careful and detailed review of the order issued by the RBI on the action against JM Financial Products Ltd, we strongly believe that there have been no material deficiencies in our loan sanctioning process.
Currently there are 26 licensed players in the P2P lending sector but only 10-11 are actively operating.
In the June quarter of FY24, 51 per cent of consumers who took small-ticket personal loans already had more than four credit products at the time of accessing yet another new loan, compared with just 17 per cent in the June quarter of FY20, points out Tamal Bandyopadhyay.
Polarisation in the performance of Indian banks will persist as many large public sector banks are still saddled with weak assets, high credit costs, and poor earnings, S&P Global Ratings said on Thursday. It said State Bank of India and leading private sector banks have largely addressed their asset quality challenges, and their profitability is improving more sharply than the banking system. In its Global Banking Outlook-2023 report, S&P said economic recovery is driving credit costs to cyclical low levels and stronger balance sheets and higher demand should boost bank loan growth, but deposit growth will lag.
Despite steady loan growth, the banking sector is expected to report subdued margins in the quarter ending June 2024 (Q1FY25), driven by high demand for deposits amidst tight liquidity conditions. However, according to Bloomberg analysts, listed banks are forecasted to see a 14.5 per cent year-on-year (Y-o-Y) increase in net profit. Estimates showed that banks' net interest income (NII), and revenues from interest minus interest expenses might grow 11.9 per cent Y-o-Y.
Eying benefits from digital banking, lenders are now looking at building Unified Recovery Interface (URI) for enhancing efficiency, reducing costs, and getting good prices for properties of defaulters. This would be managed by PSB Alliance Ltd, a company set up by all public sector banks in the country. M V Rao, chairman, Indian Banks' Association (IBA), said: "Till now we had Unified Payments Interface (UPI), a product developed by National Payments Corporation Ltd (NPCI).
HDFC Bank Q4 net rises 21% to Rs 2,806.91 crore.
The association also wondered how the brand value of Kingfisher was considered as a collateral while sanctioning a loan, and alleged that even when RBI knew that this was a "deliberate default", no action was taken by the banks.
Scheduled commercial banks have written off loans amounting to over Rs 10.09 lakh crore in the last five financial years and the process of recovery of dues from the borrowers continues, Union Finance Minister Nirmala Sitharaman informed the Lok Sabha on Monday.
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