NEW DELHI: Govt and RBI on Saturday asked banks to sharpen focus on deposit mobilisation, by deploying innovative tools and tackling competition from other investment products, while refusing to step in with policy interventions. RBI has expressed concern over lending growth being faster than the rise in deposits for several months and finance minister Nirmala…
Mumbai: PC Jeweller has reached a one-time settlement (OTS) with a consortium of lenders led by State Bank of India (SBI) to settle its debt by offering banks a mix of cash and equity in the Delhi-based company. The ₹2,250-crore offer represents about a 20% haircut to lenders’ principal amount, estimated at ₹2,900 crore, and…
NEW DELHI: Finance minister Nirmala Sitharaman on Friday said there has been no leniency in recovering bad loans, especially from large defaulters, and banks have turned around, reporting record profit of over Rs 3 lakh crore last year, from being a “cesspool of bad loans, vested interests, corruption and mismanagement” during UPA regime.On the day…
Latest FD interest rates: In May 2024, several banks revised their fixed deposit (FD) interest rates, providing opportunities for investors to earn higher returns. The banks that revised their rates include Utkarsh Small Finance Bank (SFB), City Union Bank, RBL Bank, and Capital Small Finance Bank. As per an ET report, here’s all you need…
The RBI has suggested more stringent rules for project funding, which will increase the cost for lenders when offering loans for infrastructure and industrial projects such as roads, ports, and power plants. The new regulations mandate that lenders reserve 5% of the funds they have provided as a precaution for both current and future loans….
Are you being overcharged on loan interest? The Reserve Bank of India (RBI) has identified instances of unfair lending practices by banks and other financial institutions when it comes to charging interest on loans. In response, the RBI has issued a directive urging these institutions to correct their practices and ensure fair treatment of borrowers.Here…
MUMBAI: RBI governor Shaktikanta Das has urged banks to increase their involvement in the rupee derivatives market, both domestically and internationally, and to ensure that retail customers are not disadvantaged in the foreign exchange market. He also called on banks to stop providing services to unauthorised forex platforms.“Although banks and other market participants have made…
Mumbai: Lenders to the debt-laden textile company Sumeet Industries are in negotiations with the Gujarat-based Gajera Group to improve its offer after its initial bid to take over the company was bettered by Geelon Industries, three people familiar with the matter said. Banks are seeking more than ₹250 crore for the company in an all-cash…
