RBI to set up Public Credit Registry to make credit market more efficient

Mumbai: The Reserve Bank of India (RBI) announced that it has decided to set up an extensive database of credit information for India called as Public Credit Registry (PCR) which w...

SBI raises lending rates by 10 bps, followed by PNB, ICICI Bank, HDFC

Mumbai: State Bank of India, Punjab National Bank, ICICI, Kotak Mahindra Bank and HDFC Bank have increased their benchmark lending rates by 10 basis points to maintain their net in...

Banks have disbursed Rs 6 trillion Mudra loans, says PM Narendra Modi

New Delhi: Mr Narendra Modi, Prime Minister of India announced that loans worth Rs 6 trillion (US$ 88.47 billion) have been released to 120 million beneficiaries under the Mudra sc...

More than 1,65,000 benefit under CLSS vertical of PMAY(u) during 2015-18; Rs. 3,559 Crore subsidy released

New Delhi: The number of subsidiaries benefited by Credit Linked Subsidy Scheme (CLSS) increased to 165,000 between 2015-18 from 18,166 between 2008-2013 and released Rs 3,559 cror...

Microfinance institutions' equity investments see 40% surge

Kolkata: Equity investments in Indian microfinance institutions (MFIs) increased 40 per cent year-on-year in 2017-18, as per data from Microfinance Institution Network.

The world's most profitable banks can be found in India

New Delhi: HDFC Bank's market cap touched Rs 5 trillion (US$ 73 billion) in January 2018 and is expected to reach US$ 100 billion by 2020, according to Goldman Sachs.

Bank credit grows at 12.64%, deposits at 7.61%

Mumbai: India's bank credit increased 12.64 per cent year-on-year to Rs 85,51,099 crore (US$ ASD) while bank deposits advanced 7.61 per cent to Rs 1,13,92,165 crore (US$ ASD) i...

Cabinet may consider amendments to Insolvency & Bankruptcy Code today

New Delhi: The Union Cabinet, Government of India is expected to promulgate an ordinance in order to amend the current Insolvency and Bankruptcy Code (IBC).