The access to public deposits would reduce their costs of fund as they would not have to rely on banks for funds for lending.
This is the first one to launch operation after demonetisation in this small finance bank space. CDC has pumped in Rs 150 crore in tier II capital in the company barely 10-12 days back.
The goal of banks and mobile wallet solution providers now is to broaden the acceptance of digital payment offerings.
NPCI noted that PhonePe and Flipkart Apps are in contravention of the UPI guidelines of interoperability. Hence, NPCI has directed PhonePe and Flipkart to comply with the UPI guidelines.
Crisil’s senior director Krishnan Sitaraman told ET that the housing finance companies are expected to be back in this market again in the fourth quarter.
State-run banks including UBI are told to pare government holding to below 75% by August-September this year, in line with Securities and Exchange Board of India norms.
National Insurance Co Chairman K Sanath Kumar said that about half of the vehicles run in India, especially two-wheelers, are not covered under risk cover despite the fact that third party insurance in mandatory under the law.
Insolvency professionals need to pass the exam for permanently registered themselves with the Board, chairperson NS Sahoo said on Thursday.
Banks have recorded 9.4% monthon-month rise in the number of mobile banking transactions with the value growing 20.9% in November.
Bankers said the development reflects FCNR-B (foreign currency non-resident -bank) redemptions in these months.
- No blogs yet have been written by the author, we’re sure the author will contribute one soon