IndusInd Bank on Tuesday said global rating agency Moody's has placed the bank's baseline credit assessment (BCA) under review for a possible downgrade. The rating review comes days after IndusInd Bank disclosed a Rs 2,100 crore discrepancy in accounting with an estimated impact of 2.35 per cent of the bank's net worth.
Nandan Nilekani, co-founder of Infosys, has urged for the expanded adoption of the Account Aggregator (AA) framework to facilitate formal credit access for self-employed individuals and gig workers. He highlighted its potential to enable cash-flow-based lending by leveraging diverse data streams, moving beyond traditional asset-based lending, and fostering a more inclusive digital financial infrastructure in India.
RBI Deputy Governor Rohit Jain highlighted that banks are well-positioned to deploy $133 billion mobilised through FCNR(B) deposits, especially with strong credit demand ahead of the festival season, while also stressing the importance of robust technology governance and cyber defences in the financial sector.
State Bank of India (SBI) is developing an innovative solution to assess the creditworthiness of small businesses lacking GST registration by utilising UPI transaction data. This initiative aims to provide end-to-end digital loans within a day, addressing the financial exclusion of many small enterprises.
A top SBI official has highlighted the challenges bankers face in lending to MSMEs using only GST data, advocating for the integration of alternative data sources like power consumption and telecom records through credit bureaus to improve credit assessment.
Nitish Kumar Reddy opens up on managing workload and staying injury-free after helping India beat New Zealand in a thrilling second T20I.
A sharp price fall alone does not justify averaging down.
A simplified GST registration facility for small e-commerce sellers, allowing them to register in other states by declaring the e-commerce platform's warehouse as their principal place of business, will be enabled from November 1. This move aims to encourage small businesses to expand beyond their home states.
New Zealand all-rounder Glenn Phillips acknowledged India's successful chase of 226 in the first T20I, attributing their win to strong execution and adaptation. Phillips highlighted areas for improvement for his team, specifically the need to take more wickets in the middle overs and enhance fielding performance, despite defending their overall effort.
'Read the prospectus as a capital allocator deciding whether the business deserves your capital at the offered price.'
India secured a 14-run victory over West Indies in the third T20I, taking a 2-1 series lead. Captain Shreyas Iyer praised his bowlers for their confidence and execution, and also highlighted strong performances from openers Abhishek Sharma and Ishan Kishan. West Indies captain Shai Hope acknowledged their bowling shortcomings and the need for a stable opening partnership.
"Pressure on the current account is a temporary problem. Sooner rather than later, our external sector will improve," said RBI Governor Sanjay Malhotra.
Sanju Samson defended India's bowlers after their 24-run defeat to the West Indies in the fourth T20, which levelled the series 2-2. He attributed the loss to Tilak Varma's dismissal as a turning point and praised Shai Hope's match-winning century. Samson also discussed the challenging conditions in Hyderabad and the need for emerging pacers to gain experience.
The state-owned bank's loss largely offsets the Rs 1,800-crore (Rs 18-billion) capital injection the government will make in FY14.
Maharashtra is grappling with an escalating drought crisis, with 305 talukas now declared drought-hit, prompting the state government to announce Rs 5,000 in financial aid for farmers before Diwali and extend comprehensive relief measures.
Cristiano Ronaldo says his goalscoring record is not valued enough as the Al Nassr star closes in on 1,000 career goals, with 981 for club and country.
Punjab's Finance, Excise and Taxation Minister Harpal Singh Cheema announced the unearthing of a Rs 429.30 crore GST fraud, leading to an FIR in Ludhiana. The investigation, initiated after intercepting a vehicle on September 30, revealed a syndicate of 62 interconnected firms across multiple states using non-genuine documents to evade taxes.
Choose a car loan that fits your budget, keeps EMIs manageable and saves you money on interest, not just one with attractive festive offers.
'Existing borrowers who have surplus cash should make partial loan prepayments to offset the impact of rising EMIs and reduce the overall interest burden.'
A deposit is not necessarily taxable simply because it appears in a bank account. What matters is whether its source can be satisfactorily explained.
Ravichandran Ashwin discusses Bhuvneshwar Kumar's recall to the T20I squad, attributing it to his consistent IPL performance without chasing rewards. He also touches upon Mohammed Shami's potential comeback, his relationships with Jasprit Bumrah and Virat Kohli, and predicts India and South Africa as strong contenders for the 2027 ODI World Cup.
Tata Capital remains confident in its 23-25 per cent growth guidance, driven by strong momentum in Retail and SME segments, despite facing pressures from rising funding costs and potential impacts from new RBI regulations on revolving credit.
Education loan defaults carry serious consequences. Credit bureaus record missed payments against both the student and the co-borrower, usually a parent.
The GST Council has approved significant reforms including removing the arrest power of tax officials, raising the prosecution threshold fivefold to Rs 5 crore, and introducing faster, largely automated refunds for taxpayers. These changes, aimed at fostering trust and easing business, will be implemented from April 1, 2027.
Chief Economic Advisor V Anantha Nageswaran stated that the second half of the current fiscal year (FY27) is expected to be challenging due to increased downside risks to global growth and rising interest rates worldwide.
'It's not about individuals operating the mule accounts being more or less skilled. Instead, 'lower-level' refers to the role the individual account plays in the broader mule network.'
Dhiraj Bommadevara, India's top recurve archer, expresses no regrets despite missing an individual medal at his second Asian Games. He highlights his Games-record qualification score and team silver medals, viewing the experience as crucial for his preparation for the 2028 Los Angeles Olympics. Bommadevara emphasizes learning from past failures, the importance of a positive team environment, and the need to focus on improvement rather than dwelling on mistakes.
'First-time applicants may witness longer approval times or higher rejection rates and requests for more documentation.'
'In fact, when monetary policy has been deployed, it does not distinguish between types of shocks. It goes straight for the kill.'
BAFs seek to offer a smoother experience across market cycles, not the full upside of a bull market.
A year after GST rates were rationalised, retail growth in automobiles has sustained beyond the initial festival surge, led by two-wheelers and passenger vehicles (PVs), with the Fada data showing rural markets emerging as a key driver of the post-GST demand recovery.
A 25-basis-point increase would restore some real monetary restraint when expected inflation has risen, liquidity remains easy and growth is strong, points out Amarendu Nandy.
Used-car financing has seen significant growth, but borrowers must be aware of higher interest rates, conservative loan-to-value ratios, shorter tenures, and the risk of owing more than the car's depreciated value. Understanding these factors is crucial for making informed decisions.
For millions of Indians, this number has become one of the most important financial indicators. It can influence not only whether a bank approves a loan but also the interest rate you pay, the credit limit you receive and, in some cases, how quickly your application is processed.
HDFC Bank has submitted two names to the Reserve Bank of India for the managing director and chief executive position, following incumbent Sashidhar Jagdishan's decision not to seek reappointment. The bank also announced board changes, increasing whole-time directors to four and appointing Jimmy Tata as an executive director. This move comes as Jagdishan's term ends in October, creating a tight timeline for succession.
Despite near gender parity in basic bank account ownership, women in India remain significantly underrepresented in the growing platform economy due to gaps in digital financial capability and access to credit, according to a joint report by the International Labour Organization and National Council of Applied Economic Research.
The Reserve Bank of India (RBI) has introduced new features for India's digital payment ecosystem, including UPI tap-to-pay for PIN-less transactions up to 5,000 and multi-currency capabilities for forex on Bharat Connect, supporting Euro, British Pound, and other major currencies.
India opener Shafali Verma acknowledged the team's batting unit needs to address its shortcomings on turning pitches, despite securing a 94-run victory against Thailand in the Women's Asia Cup opener. Verma, who scored a brisk 64, noted that while the new ball came on well, the older ball gripped and turned, causing difficulties for the middle order. She emphasised the need for adaptation and praised Thailand's improving performance.
It's not about how much you earn -- it's about how you borrow and repay.
Veteran Indian shuttler H S Prannoy discusses his likely final Asian Games appearance and his long-term Olympic aspirations for LA 2028. Doubles specialist Chirag Shetty urges the Indian men's badminton team to go for gold, reflecting on their previous silver medal and the team's strong cohesion.
