RBI Governor Shaktikanta Das-led MPC hiked the policy repo rate by 50 bps to 5.40% with immediate effect
"This whammy comes along with the inflationary trends of primary raw materials, including cement, steel, labour, etc., that have recently led to a rise in property prices," an expert noted.
Banking sources told The New Indian Express that no banks have begun the transfer of loans yet and the same is likely to start only by the end of the September quarter.
The overall non-interest income fell 11% to Rs 2,999 crore, mainly driven by a Rs 667 crore reversal in treasury operations due to mark-to-market losses as the yields harden.
They alleged that instead of the two-cow scheme, cooperative bank staff only provide loans to farmers if they use their land as collateral.
RBL Bank back in black in June quarter; posts Rs 208.66 cr net profit; new head says NPA not a concern
The city-based lender had reported a net profit of Rs 164.77 crore in the preceding March quarter.
Capital ratios are comparable to those of international peers for India's large private-sector banks, though they are lower for public-sector banks, S&P Global added.
Vehicle financiers have been impacted due to supply chain problems in the auto segment, with two-wheeler and auto loans showing the lowest level of inquiries.
Loans from India with USD 376.9 million were the highest foreign financing disbursements during the period of January 1 to April 30, 2022, according to Sri Lanka's Finance Ministry.
AP Industrial Infrastructure Corporation (APIIC) has exchanged a Memorandum of Understanding (MoU) with Union Bank.
The private sector lender had logged a net profit of Rs 367.29 crore in the year-ago period. In the previous March quarter, the bank's net profit was Rs 540.54 crore.
The three-month and six-month tenor loans will have new MCLRs at 7.35 per cent and 7.45 per cent, respectively, up by 0.10 per cent each.
Amid multiple waves of COVID-19, the profound distress of scores, tied to uncertainty and financial instability, went unnoticed.
One intervention the Centre initiated to help workers in the informal sector during the pandemic is the Prime Minister Street Vendor's AtmaNirbhar Nidhi (PM SVANidhi).
The bench stated that in the financial matters that will create problems to the government, courts will take a cautious approach.
The department will identify candidates to be trained as drivers, and training in nursing will be given by private hospitals keeping in view of the demand for nursing posts in the country and abroad.
Rajnish Kumar also said the NBFCs will have to maintain capital adequacy norms, introduce core banking solutions and make adequate disclosures by 2025.
A towering presence in NBFC sector Irinjalakuda - headquartered ICL FINCORP hardly needs an introduction.
A startup hub created in West Champaran district by the DM has earned international repute and helped dozens of migrants hit hard by Covid lockdown, writes Ramashankar.
In its June 8 second bi-monthly monetary policy meeting review for FY23, RBI raised the benchmark repo rate by 50 basis points to 4.90 per cent with immediate effect.