'We are committed to achieving the targets we had outlined.'
The Reserve Bank of India (RBI) has barred four non-banking finance companies (NBFCs), including two microfinance institutions (MFIs), from sanctioning and disbursing loans for charging exorbitant interest rates to the borrowers. These four entities are Asirvad Microfinance, Arohan Financial Services (also an MFI), DMI Finance, which provides personal, consumption, and micro, small and medium enterprises loans, and Flipkart co-founder Sachin Bansal's Navi Finserv, which offers home and personal loans. The ban will take effect on October 21 to "facilitate closure of transactions in the pipeline", the regulator said in a statement.
Deep-tech now forms over half of VC portfolios in India as firms like Cornerstone, Unicorn India Ventures and All in Capital back startups combining research with scalable models
Both NDA and INDIA are racing to woo marginalised groups with Assembly polls fast approaching.
'When maximum voter participation occurs, they do not vote to re-elect the incumbent government. They vote to change it.' 'How can anyone credibly suggest that crores of young voters -- particularly the unemployed youth -- would vote to re-elect an existing government that has demonstrably failed them?'
The Reserve Bank of India (RBI) has sought granular data from select non-banking financial companies (NBFCs) on their loan book growth. The details sought are on the outstanding product-wise portfolio and the annualised interest charged on them. The annualised interest slabs mentioned are as follows: less than 10 per cent, 10-20 per cent, 20-30 per cent, 30-40 per cent, 40-50 per cent, and above 50 per cent.
Most lenders that have reported their April-June business update posted slower growth in deposits sequentially as compared to the loan growth in the April-June quarter of 2024-25 (FY25). Current and savings account (CASA) deposits continue to face pressure. Private-sector lenders YES Bank, Bandhan Bank, and RBL Bank saw their deposit growth contract by 0.5 per cent, 1.5 per cent, and 2 per cent, respectively.
'Every parent should rethink their decisions to send their children to the US.'
Kolkata Police detectives on Wednesday visited the house, where three female members of a family were killed last month, and reconstructed the crime scene with an accused -- the husband of one of the deceased.
Trump's proposed policy limits undergraduates from any one country to 5% at select top US universities, raising concerns for Indian aspirants eyeing elite colleges.
India Inc, which is sitting on cash balances of 13.5 trillion, is using the funds to meet capital expenditure as well as brownfield expansion, resulting in 'anaemic' demand for bank loans, State Bank of India (SBI) chairman CS Setty said at an event on Monday. He added that a slowdown in corporate credit is mainly due to lack of demand.
The RBI advisory follows a labour ministry request earlier this year seeking the central bank's expertise to identify gaps in EPFO's investment strategy and fund management practices, including accounting, risk management, and internal governance.
'The kids are already used to this place. We go back and that's a different environment.' 'So, mentally, emotionally we are stressed.'
Uttar Pradesh's leading export hubs are reeling under the impact of a steep 50 per cent tariff imposed by the US on Indian imports, with exporters warning of job losses, stalled orders and shrinking market access. Industry leaders from Noida, Kanpur and Varanasi said the tariff has put years of painstaking market-building at risk, even as protests and demonstrations erupted in several districts last week.
Every defaulter is not a wilful defaulter who has the capability of paying back and is yet not servicing the bank loan, observes Tamal Bandyopadhyay.
'India is a big market for StanC, and it is also fastest growing economy in the world.'
Since February 2025, the RBI has reduced the policy rate by 100 basis points. In its previous policy review in April, it had also trimmed the repo rate by 25 basis points to 6 per cent.
The Reserve Bank of India (RBI) on Wednesday met the long-standing demand of banks by allowing them to finance acquisitions by Indian companies, a move that also expands banks' capital market lending in the country.
Bain Capital-backed Tyger Capital is planning to list its shares on the Indian stock exchanges by the next financial year and is targeting to grow its assets under management by four times to Rs 20,000 crore in five years from Rs 5,000 crore now, Gaurav Gupta, MD and CEO of the firm said. In an exclusive interview, Gupta said that keeping with the growing business, the finance company expects to on-board 600 people in the current financial year as it is opening 60-65 new branches for broad-basing its network in the country.
In the Union Budget for Financial Year 2023-24 (FY24), Finance Minister Nirmala Sitharaman had held forth on the need for better governance and investor protection in the banking sector. She had proposed certain amendments to the Reserve Bank of India Act (RBI Act), 1934; the Banking Regulation Act (BR Act), 1949; and the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970.
Ask rediffGURU Reetika Sharma your insurance, mutual fund and personal finance-related questions.
UPI has catapulted India into the forefront on the global digital payments landscape. Working hand in hand, the AePS payments system is making life easy for rural folks, notes Tamal Bandyopadhyay.
A 55-year-old woman from Rajasthan's Udaipur district has given birth to her 17th child, sparking conversations about poverty, illiteracy, and family planning in the region. The delivery, which occurred at a Community Health Centre, highlights the challenges faced by families in tribal-dominated areas.
'If the portfolio growth rate is higher, take this loan. If it is lower, liquidate your investments.'
While a giant, it's a nimble-footed one, and is growing at a speed that even some of its private sector peers find enviable.
Between FY18 and FY24, it doubled its balance sheet. Despite being a late entrant in some segments, it has been able to grab market share, observes Tamal Bandyopadhyay.
Startups that became unicorns in 2024 took an average of nine years and six months to reach $1 billion valuation, reflecting the impact of a prolonged funding squeeze from PE/VC firms over the past few years.
In Q1FY26, the bank reported fresh slippages of 8,200 crore, up 71 per cent Y-o-Y and sequentially. Of this, 7,500 crore is from the retail segment.
Public sector banks (PSBs) have seen a sharp drop in household deposits from 70.6 per cent to 63 per cent in contrast with private banks, which witnessed a surge from 27.1 per cent to 34.1 per cent.
'What we need to watch is how Saudi Arabia's financial assistance will be used by Pakistan. If the funds go to build their military hardware and operations, it should worry us.'
'I realised why the farmers and the rural folks are going for Trump. They are so insecure and vulnerable that anybody who is throwing a line of hope to them, they seize it.'
Pixxel has raised $95 million in funding and with the company's commercial Firefly satellites up in orbit selling data globally 'we know and seen what it takes to make this business work.'
'The brand, the team, and the people have to make the transition from playing league matches to Test matches.'
On August 7, the US president announced doubling tariffs on Indian goods to 50 percent for India's purchases of Russian crude oil, but gave a 21-day window to negotiate an agreement.
'Vigilance' is a dreaded term for PSB employees and there are instances where this fear is misused by the higher authorities to tame their subordinate officials. This fear always deters PSB executives from making decisions -- the fewer the decisions, the less the chance of falling into trouble, points out Tamal Bandyopadhyay.
Do You Wanna Partner is frothy and funny without being loud or crude, which is something so many Indian comedies cannot manage, observes Deepa Gahlot.
The home loan top-up, a kind of secured multipurpose personal loan, is on the regulator's radar, points out Tamal Bandyopadhyay.
'It was like rigorously preparing for a solid, good exam...' 'I don't know what marks I will get, but I felt the rigorous preparation of an exam.' 'You may sweat, but I feel rejuvenated.'
'Given the lag in transmission, further softening of lending rates may happen in the coming months.'
'Things may get much worse before they get better,' predicts Ajay Chhibber.
In the past 10 years, over 500 PSB officers have died by suicide. When targets are overwhelming, senior management and customers are both impatient, and there is constant fear, not every banker has the resilience to survive and thrive, warns Tamal Bandyopadhyay.
