The Indian economy is expected to recover faster than expected and the Reserve Bank has likely reached the end of the rate easing cycle, according to global forecasting firm Oxford Economics. Furthermore, he said that inflation is expected to average significantly above 6 percent in the fourth quarter of the …
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The CEO of Yes Bank Ltd., which helped the lender out of India’s biggest bailout, is bracing for the fallout from the pandemic. The coronavirus outbreak has “created a problem” in the loan portfolio, even as progress has been made in addressing key drawbacks, such as weak governance, fundraising challenges …
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Signs of recovery for India’s troubled shadow banks have taken a step back as concerns about the true impact of the pandemic on lenders resurfaced. Average lenders’ AAA-rated five-year bond spreads increased for the first time in four months in September. Of the other three shadow banking sector health tracking …
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Mumbai: Indian state lenders should consider focusing on regional languages for better customer service, especially in areas where people are unfamiliar with Hindi, Finance Minister Nirmala Sitharaman said. Sitharaman spoke Thursday at the virtual launch of a uniform training program, which includes modules on preventive surveillance, for induction and mid-level …
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For the last 10 quarters, Lakshmi Vilas Bank has been incurring losses and the RBI subjected it to Rapid Corrective Action (PCA) in September 2019. For the first time in the history of any bank in India, the shareholders of Chennai-based Lakshmi Vilas Bank removed seven directors and auditors at …
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Former Reserve Bank of India Governor Raghuram Rajan and former Lieutenant Governor Viral Acharya called for the closure of the financial services department, the privatization of state banks, and the creation of a bad bank as part of reforms to the banking industry of India. The current status quo is …
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SoftBank Group Corp. leads venture investment round in India education startup Unacademy, increasing its valuation to $ 1.45 billion as online learning increases during the coronavirus pandemic. Investors in the $ 150 million funding include existing backers Facebook Inc. and Sequoia Capital, while SoftBank’s money comes from Vision Fund 2, …
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[ad_1] Finance Minister Nirmala Sitharaman announced measures worth Rs 75 billion for non-bank, mortgage lenders and microfinance financed by the lack of liquidity as part of the government’s economic rescue package. The government has allocated Rs 30 billion to buy investment grade debt from non-bank financial companies (NBFC), home finance …
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[ad_1] NEW DELHI: The death toll from Covid-19 rose to 775, while the number of cases rose to 24,506 on Saturday, according to the Union health ministry. Here’s a look at the latest updates on the coronavirus outbreak in India and around the world:India Post delivers cash of $ 412cr …
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