It is dispensable that every person has ample funds to fulfil their concern. The only prime solution that can be looked at is either getting a loan from the bank or from some financial institution. In many cases, people cannot qualify for the norms or requirements of getting a loan, which is when a Non-Banking Financial Company … Read More →
The petitioners argued that VC exchanges already had best practices such as avoidance of cash transactions, enhanced KYC (know your customer) norms etc. The court, however, said that enhanced KYC norms may remove anonymity of the customer but not that of the VC Further it also pointed out that RBI was the best judge of … Read More →
Mar 11, 2020, 2:55 PM IST In the wake of the YES Bank crisis, Axis Trustee Service Limited (ATSL) has approached the Bombay High Court challenging the Reserve Bank of India’s (RBI) proposed reconstruction scheme. As part of the scheme, the RBI had proposed a move to write down YES Bank’s Additional Tier 1 bonds (AT-1 … Read More →
The Reserve Bank of India (RBI) will be issuing guidelines within two months for the fintech companies to test their new products on a small group of users before scaling up. This regulatory sandbox will help fintech companies to launch innovative products at a lower cost and in less time and enable fintech companies to … Read More →
Para banks would face tighter liquidity, higher funding costs and consequently lower net interest margins (NIMs) in FY20 as they overhaul their balance sheets toward longer-term borrowings, IndiaRatings & Research said in its outlook report on Tuesday. The Fitch-owned rating company expects wholesale financing NBFCs, especially those lending to real estate, micro and small enterprises … Read More →
As per the recently published RBI Data, loan growth in India has averaged at around 11% from 2012 to 2018 with a steady shift of share from traditional banking channels towards non-banking financial companies (NBFCs). As on March 2018, while the total outstanding of bank loans to corporate grew by 6% year-on-year, the NBFCs witnessed … Read More →
Banks Recall Over 32 Lakh Debit Cards Due To Security Breach More than 32 lakh debit cards of customers have been blocked or recalled by banks to prevent them from falling prey to any financial fraud after a major security breach at a payment services provider that manages ATM network of a private sector bank. … Read More →