2023-12-11 15:20:36 The housing finance sector has seen improvement in asset quality despite a sharp rise in interest rates over the past one-and-a-half years, with rising income levels helping offset higher monthly instalments. There are no signs of stress also from an affordability point of view with rise in housing prices and higher interest rates, … Read more
2023-09-03 09:20:58 GDP share of the six new members, being added to the five-member BRICS grouping of emerging economies from January, will be just 11 per cent, with Saudi Arabia’s contribution the highest at 4 per cent, an analysis shows. The proposed addition of Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates … Read more
2023-08-25 19:14:27 India has leapfrogged over the last decade and other countries can learn from its financial inclusion model and move much faster, State Bank of India (SBI) chairman Dinesh Kumar Khara said on Thursday. “If you look at it in our country, I think it’s a lesson for all of the globe on how … Read more
2023-05-17 04:41:30 A cash crunch is persisting in India, pushing short-term borrowing costs above a key policy interest rate and posing risks to an economy that needs cheaper funding to sustain its recovery. After a surge in recent weeks, the weighted average call rate which Reserve Bank of India closely monitors, has shot above its … Read more
2023-04-26 12:42:14 Fixed deposits aren’t just a safe way to park one’s savings, but are becoming a popular tool to borrow funds. As interest rates climb to a three year high, those who would have taken a personal loan or an unsecured business loan are resorting to borrowing over the FDs as collateral. Loans against … Read more
2023-04-03 11:33:39 About Rs 35,000 crore unclaimed deposits as of February 2023 were transferred to the Reserve Bank by public sector banks (PSBs) in respect of deposits which have not been operated for 10 years or more, Parliament was informed on Monday. These unclaimed deposits belong to 10.24 crore accounts transferred to the Reserve Bank … Read more
Agri-tech company Fasal on Thursday announced its partnership with State Bank of India (SBI), aimed to provide farmers with easy access to capital. The partnership will help solve cash-flow constraints during key cycles in farming by providing quick, easy, and collateral-free loans at very competitive rates. This ties into Fasal’s larger objective of solving the … Read more
With the Home Ministry mandating SBI to report all details of overseas donors, including purpose of remittances on daily basis, the Reserve Bank of India (RBI) on Thursday made necessary changes in NEFT and RTGS systems for Foreign Contribution (Regulation) Act (FCRA) related transactions. Under the FCRA, foreign contributions must be received only in the … Read more