JM Financial share price declined over 9% in early trade on Monday after the capital market regulator Securities and Exchange Board of India (Sebi) barred the company from acting as a lead manager for any new public issue of debt securities. JM Financial shares dropped as much as 9.82% to ₹79.30 apiece on the BSE.
Mutual Funds vs bank deposits: A change in how consumers view money, shifting from saving to investing, is tightening the availability of funds in banks. The shift from saving to investing among consumers is reducing the amount of available money in banks, as more people are choosing mutual funds over traditional savings accounts. Adhil Shetty,
Did you know that Google removed nearly 4,700 illegal loan apps from PlayStore in a span of two years ending Aug 2023? The latest data was revealed by Dr Bhagwat Karad, Minister of State (MoS) in the ministry of finance in a reply in Rajya Sabha. Google has reviewed nearly 3,500 to 4,000 loans apps
Almost three-fourths of banks and several non-banking financial companies (NBFCs) have developed chatbots and virtual assistants, said Michael Patra, deputy governor, RBI. Delivering a keynote address at the SAARC Finance seminar, he said the usage of artificial intelligence (AI) related keywords in Indian banks has increased sizeably.“A survey conducted by the RBI at June-end 2023
Outstanding retail loans given by banks tipped over the ₹50 trillion milestone for the first time in November 2023, latest central bank data showed. This was aided by demand from individuals, a push by banks and the merger between HDFC Bank and erstwhile mortgage lender Housing Development Finance Corp. Ltd (HDFC). Outstanding retail loans given
Unusually high spurt in certain select activities such as crypto currency trades, equity derivatives and online gaming such as teen patti, rummy, ludo and cricket related games over the last 12 months may have alerted the Reserve Bank of India to look into unsecured loans being used for these activities. “A lot of these (trades) are done
New Delhi: The Reserve Bank of India (RBI) on Friday granted three more months up to April 1, 2024, to banks and NBFCs to implement the modified norms for levying penal charges in loan accounts, as part of fair lending practice. In August, the central bank issued a circular on ‘Fair Lending Practice – Penal
The annual survey by Home Credit on how India borrows unveils some disturbing trends in 2023. When juxtaposed with RBI data, the report indicates rising household debt. But there are also some encouraging trends. Though Indian borrowers are not very savvy money-wise, they are concerned about privacy and wish to become financially literate. The annual
Despite experiencing headwinds from global monetary tightening, particularly US Fed rate hikes, the Indian economy and its markets demonstrated remarkable resilience in 2023. While the year began with elevated inflation, geopolitical uncertainties, and FPI outflows, a gradual easing of these pressures later boosted investor sentiment. India’s strong macroeconomic fundamentals, marked by robust GDP growth, moderating
A week after India barred lenders from investing in alternative investment funds that hold stakes in their borrowers, the market is counting the cost.The Reserve Bank of India said the move is designed to prevent an unstable build up of assets in the country’s financial system. But, lawyers and analysts say alternative investment fund managers