Innovate to transform banking and money landscape: IMF

As privately issued stablecoins continue to encroach on more traditional forms of money — like cash and bank deposits — policymakers will not simply look on from the sidelines.

Wilful defaulters set India back by ₹ 1.50 trillion in 2018-19

Wilful defaults in India crossed 1.50 trillion rupees ( approx. $21bn ) while State Bank of India accounted for nearly a third of all wilful defaults

State borrowings may face pressure in coming years: Economists

State borrowings may face pressure in coming years: economists A mismatch between demand and supply of state development loans can affect the cost of borrowings for state governments over the next five years, eminent economists said at a crucial meeting…

₹ 700 billion and counting: RBI struggles to revive sluggish economy

RBI’s ₹ 700 bn cash infusion in April was unable to revive the economy, further efforts are expected to continue.

NIIT profit jumps 44 percent for FY19

NIIT profit for FY19 jumps 44 pc to Rs 403 crore IT solutions major NIIT Technologies on Saturday reported revenue of Rs 3,676 crore in 2018-19, representing a growth of 23 per cent over the previous year. The operating profits…

Stock markets witness lacklustre trading in early hours

Stock markets witness lacklustre trading in early hours Equity benchmark indices were subdued in early trading on Friday with auto stocks gaining and IT majors showing losses. At the National Stock Exchange, sectoral indices were mixed with banking, financial services,…

Fintech startup Shubh Loans disburses loans worth $15mn in FY 19

Fintech startup Shubh Loans crosses $15mn loan disbursal in 2018-19 Shubh Loans, India’s leading mobile money lending startup, has just closed on a successful financial year and has set its aim right for the FY 2019-20. The company aims to…

variable pay for bank CEO’s proposed by RBI

RBI proposes new set of rules The Reserve Bank of India (RBI) has proposed a new set of rules, which include a large portion of compensation for bank chiefs in the form of variable pay. They could also be liable…

Niti Ayog confirms Banking sector on the way to Recovery

The government has done a lot to improve governance in the banking sector which is beginning to contribute again, Niti Aayog Vice Chairman Rajiv Kumar said on Friday. “We had inherited a banking sector which was kaput (broken) with Rs…