Remittances from West Asia in March rose sharply amid the conflict in the region, with industry insiders estimating inflows to be 20-30 per cent higher than what is usual in a month.
Fino Payments Bank (Fino) has become the first such entity to get an in-principle approval from the Reserve Bank of India (RBI) to transition into a small finance bank (SFB).
However, despite the reduction, their interest rates would be about 50-100 basis points higher than those of banks
One should avoid keeping excessive funds in one's savings account.
Besides, two new entities-- IDFC and Bandhan -- have been given full-fledged banking licence.
These banks are finding it hard to pick up seasoned bankers at the pay they are offering
Companies, which missed out on listing earlier, are giving it another shot but with significantly-reduced issue sizes. In the recent past, companies such as TVS Supply Chain Solutions, Suraj Estate Developers, and ESAF Small Finance Bank have re-filed their draft red herring prospectuses (DRHPs) with the Securities and Exchange Board of India (Sebi). This came after they slashed their issue sizes by 20-60 per cent.
In mid-March this year, the finance ministry asked state-run banks to review their gold loan portfolio for the two-year period between January 1, 2022, and January 31, 2024. This business had grown at a fast clip. Reserve Bank of India (RBI) data has it that it grew 15 per cent to Rs 1 trillion in FY24. Now, in recent times, any kind of exuberance in financial services has seen the authorities swoop down - be it pushing the lines on governance or unsecured credit.
The niche banks - small finance and payments banks -have been set up to further the regulator's objective of deepening financial inclusion.
The success of recent IPOs and the stability in the secondary market are propelling many firms and investment bankers to remove their IPO plans.
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