Credit

Founder Aditya Soni is very clear that he is not interested in selling financial products; instead, he is laser-focused on keeping customers' credit healthy

The impairment provision for financial instruments rose to Rs 751.9 crore in Q3FY25, up from Rs 126.2 crore in Q3FY24

CRED is a members-only app that allows users to make payments and manage credit cards. Happay is an expense management application

"As on September 30, 2024, the total debt discharged to creditors of the Respondent No 1 (IL&FS) Group aggregates to Rs 38,082 crore," the status report said

The Insolvency and Bankruptcy Board of India (IBBI) has proposed a voluntary mediation mechanism for operational creditors before filing insolvency applications under the IBC norms. The proposal aims to reduce the burden on the Adjudicating Authority (AA), thereby expediting admissions. The recommendation is based on an expert committee report and subsequent suggestions by the Indian Institute of Insolvency Professionals of ICAI (IIIPI). In a discussion paper released on Monday, the insolvency board proposed to introduce mediation as a preliminary step, providing operational creditors an avenue to settle disputes with corporate debtors over matters like contractual disagreements, quality issues, underpayment claims, and set-off demands. The insolvency board noted that in most of the operational creditors-initiated insolvency cases, they are more interested in repayment of money claims rather than admission or resolution of the corporate debtor. According to IBBI, as of April 2024,

The 50-50 joint venture will lend to businesses ranging from large companies to startups, the people said, asking not to be identified as the information is not public

India is a bright spot for private credit in Asia as Prime Minister Narendra Modi's ambitious growth targets and deregulation initiatives spur increased funding needs of local firms

Export-intensive segments vulnerable to global risks, warn rating agencies

Banks struggled to mobilise large deposits to meet the increasing credit demand in the last two financial years, a report said. Outstanding credit disbursed by Scheduled Commercial Banks (SCBs) was at the highest level in 2023-24 amounting to Rs 1,64,98,006 crore, whereas in percentage terms, the growth of Credit-to-Deposit(C-D) ratio rose from 75.8 per cent to 80.3 per cent, Infomerics Ratings said in a report. According to the RBI April 2024 Bulletin, during March 2024, the incremental Credit-Deposit Ratio(ICDR) remained around 95.94 per cent, whereas on March 8, 2024 this was at 92.95 per cent. It may be observed that there was a much higher growth of credit of the SCBs compared to the growth of deposits, even as per the Quarter-on-Quarter (QoQ) basis, it said. The growth of credit outpaced the growth of deposits during the period FY'19 to FY'24. Alternative investments and substantial cash holdings in the unorganized sector slowed deposit accumulation, particularly in rural ar

Slated to become upper layer NBFC with listing plans

Credit model goes beyond credit scores, evaluates supply chains, digital footprints

Indian banks' loans rose 13.7% as of July 26 from a year earlier, while deposits grew 10.6%, latest provisional data from the RBI showed

State Bank of India Chairman Dinesh Kumar Khara has said there is a growing demand for credit from the corporate sector and loans worth Rs 5 lakh crore are in the pipeline. Unlike the past few years, when the corporates had sufficient cash surplus on their balance sheet, they have started looking for credit to fund working capital requirements and capacity expansion, he told PTI in an interview. "Now we have come to a stage where they (corporates) have started approaching banks for augmenting their capacity or for working capital purposes. Of course, this I can say with confidence because when we look at our unavailed term loan percentage, it has come down from 25 per cent to 18 per cent and when we see the working capital utilisation, even that has improved," he said. So, all these are confirming that private sector opportunities are going to be there and SBI will be in a position to create value for the sector, he said. At the same time, he said, "When we look at our pipeline for

Goldman's total deposits jumped to $441 billion in the first quarter, with over 39 per cent coming from consumer accounts, versus $190 billion in total deposits at the end of 2019

In a survey this week of the world's largest insurers, Moody's found that nearly 80% of respondents planned to increase their holdings in at least one class of private credit

Aye Finance's phygital strategy leverages technology to underwrite credit and disburse loans, using business markers to predict sales and categorise underwriting methods

Credit contracts as government bonds record net repayment

NPCI recently unveiled new features for UPI-linked RuPay credit cards, including EMI facilities, UPI AutoPay for credit card bill settlements, and enhanced credit limit

The Export-Import Bank of India (Exim Bank) on Tuesday announced it has extended a USD 23.37 million (about Rs 194 crore) line of credit to the government of Cooperative Republic of Guyana for the procurement of two aircraft from India for the South American country's defence forces. An agreement was signed on March 15 between Guyana's senior minister in the office of the President with responsibility for finance and the public service, Ashni K Singh, and the policy bank's deputy general manager Sanjay Lamba in the presence of High Commissioner of India to Guyana, Amit Telang. With this line of credit (LOC), the bank has 292 LOC in place now, covering 62 countries in Africa, Asia, Latin America, CIS, and Oceania, with credit commitments of around USD 2.72 billion available for financing exports from India.

A National Bank for Agriculture and Rural Development (NABARD) report on Thursday revealed that Gujarat's credit potential for priority sectors stands at Rs 3.53 lakh crore. A NABARD release said its annual document 'State Focus Paper 2024-25' was unveiled by Gujarat Chief Secretary Raj Kumar at an event held here in the presence of senior officials, bankers, heads of NGOs and stakeholders. NABARD is an apex regulatory body for overall regulation of regional rural banks and apex cooperative banks in India. "NABARD's meticulous analysis highlighted a credit potential of Rs 3.53 lakh crore for Gujarat, including Rs 1.42 lakh crore, which comes to 40 per cent, for agriculture and allied sectors, Rs 1.80 lakh crore (51 per cent) for the MSME sector, and the remaining 9 per cent for other priority sectors," said the release. The document not only outlines the existing credit-absorption capacity but also proposes strategies to enhance it through strategic partnerships and policy ...