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).
Yes, the entry of private bankers, particularly with global experience will add value to PSBs, points out Tamal Bandyopadhyay.
"I would like to resign as an independent director of the bank with effect from January 27, 2020. Given an entity owned and controlled by me has made an application to the RBI for a universal banking license, I felt it was -- in the interest of propriety and corporate governance -- only appropriate that I stepped down from this role," Bansal said in his resignation letter, which was disclosed by Ujjivan SFB in the regulatory filing.
One should avoid keeping excessive funds in one's savings account.
A well-run non-banking company has better margins than a bank, but the objective of setting up Ujjivan was to provide comprehensive financial inclusion, Ujjivan Small Finance Bank MD & CEO Samit Ghosh tells Anup Roy in an interview.
Nearly 665 million Indians or 45 per cent of the rural population did not have access to the internet as of 2023. Difficulty in understanding internet procedures, insufficient awareness of its benefits, and a lack of interest have emerged as the top reasons for a gap in internet penetration in rural India, according to a joint report by the Internet and Mobile Association of India (IAMAI) and Kantar. "The proficiency of English in rural India is very low. While we have content in Hindi, the internet is English-heavy.
The Reserve Bank of India's (RBI's) latest order on unsecured loans is set to hit the banking sector's growth in the near-term, cautioned analysts, as they see banks slowing down on aggressive retail lending. Besides, cost of funds for non-banking finance companies (NBFC) is expected to inch up as banks will pass on higher capital charge to NBFCs. "We believe the fallout of the RBI action will be mainly on growth, given the rising dependence on unsecured retail loans and lending to NBFCs for growth.
'You cannot have only one product or one market or one customer segment.'
Ujjivan Small Finance Bank's initial public offering attracted heavy investor demand on the final day of bidding on Wednesday as the issue was subscribed a whopping 126.36 times.
Public-sector banks, which are the largest employers in the banking space, have seen a drop in clerical staff over the years.
Commemorating 75 years of India's independence, SBI has launched a 75-day Utsav Deposit Scheme, offering 6.10 per cent for fixed deposits. Senior citizens will get an additional 0.50 per cent and the offer is on until October 30, SBI said.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Ajit Mishra, vice president, research, Religare Broking, answers your stockmarket queries.
Brokerages are expanding the universe of stocks they cover amid a boom in the market. Several stocks in the mid-cap universe are now tracked by more analysts than they were a year ago. For instance, SBI Cards and Payment Services is now tracked by 17 brokerages, compared to just four a year ago.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Among the gainers, microfinance player Ujjivan Financial Services which made its stock market debut in May has seen the biggest rally in its share price.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
The mid-cap universe - comprising firms that rank 101-250 in terms of m-cap - could see as many as 17 new stocks move out. Similarly, over half a dozen stocks could exit the large-cap universe, which is defined as the top 100 entities in terms of m-cap.
A sea change sweeping the sector, signalling it has come of age. As much as this is a cause for celebration, it is also necessary to ask if all is well with the sector, which way it is going and, most importantly, which way it ought to go, says Subir Roy.
Besides, two new entities-- IDFC and Bandhan -- have been given full-fledged banking licence.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
These banks need to build a significant deposit base to start full-fledged banking.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Venture capitalists Adam Wolfensohn and Ameya Bijoor tell Anjuli Bhargava about the kind of investments and companies they are looking to invest in.
Companies featuring in the Next 500 list are mostly mid-sized and termed as the 'small wonders' by the magazine.
Ajit Mishra, Vice President, Research, Religare Broking, answers readers's queries on stocks they own or want to buy.
A total of 25 companies raised Rs 28,220 crore during the financial year.
These banks are finding it hard to pick up seasoned bankers at the pay they are offering
Microfinance portfolio of SFBs saw a muted growth of about 3% last year
Ajit Mishra, vice president, Research, Religare Broking, answers your queries
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
For the first time since 2001, promoter stake in BSE 500 decisively below 50%
Eye business expansion, fulfil working capital requirements and making loan repayments
However, despite the reduction, their interest rates would be about 50-100 basis points higher than those of banks
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
During the current financial year, 25 companies have raised Rs 28,220 crore through IPOs
RBI had received 72 applications for small finance bank licences.
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