RBI wants states to invest in sinking and guarantee funds mandatorily

Mumbai: Reserve Bank of India (RBI) is planning to make investment in sinking and guarantee redemption funds mandatory for state governments.

India's retail credit market now most dynamic in EMs outside China at 15.7%

New Delhi: India's retail credit market increased at a compounded annual growth rate (CAGR) of 15.7 per cent from US$ 181 billion in December 2014 to US$ 281 billion in Decembe...

West Bengal govt to look for ways to boost credit to MSMEs: Mamata Banerjee

Kolkata: Government of West Bengal is planning to provide loans to Micro, Small and Medium Enterprises, currently in discussion with the State Cooperative Banks (SCB).

PM Modi to launch India Post Payments Bank on Aug 21

New Delhi: The India Post Payments Bank (IPPB) which will focus on financial services in rural areas, will be launched on August 21, 2018 by Mr Narendra Modi, Prime Minister of Ind...

3.49 Crore New Entrepreneurs Benefited Through Mudra Yojana

New Delhi: Loans have been sanctioned for 34.9 million new entrepreneurs under the Pradhan Mantri Mudra Yojana (PMMY) between 2015-16 and 2017-18.

State Bank of Mauritius plans to open six new branches in India under WOS

Mumbai: State Bank of Mauritius (SBM) is planning to open six new branches in India after starting its operation under Wholly-Owned Subsidiary (WOS) by the end of 2018.

Microcredit witnesses 40% year-on-year growth for the last few months

Kolkata: Microcredit sector in India has increased by 38 per cent year-on-year to reach Rs 19,700 crore (US$ 2.85 billion) in May 2018.

Mastercard plans to invest around Rs 16.25 billion in India by 2019

Mumbai: Mastercard is planning to invest around Rs 16.25 billion (US$ 236.68 million) in India by 2019 in order to push digital payments.