Credit

A powerful tool for democratising credit access

Credit card growth does not conflict with real-time payment systems, but complements them and offers consumers more payment options

Pre-sanctioned credit lines at bank to come under UPI ambit, says RBI

The Reserve Bank on Thursday proposed to expand the scope of the Unified Payments Interface (UPI) by including pre-sanctioned credit lines at banks within the ambit of the popular payment platform. UPI is a robust payment platform supporting an array of features. Presently it handles 75 per cent of the retail digital payments volume in India. The UPI system has been leveraged to develop products and features aligned to India's payments digitisation goals, said RBI Governor Shaktikanta Das while announcing the bi-monthly monetary policy. "It is now proposed to expand the scope of UPI by enabling transfer to / from pre-sanctioned credit lines at banks, in addition to deposit accounts," he said. In other words, UPI network will facilitate payments financed by credit from banks. This can reduce the cost of such offerings and help in the development of unique products for Indian markets. At present, UPI transactions are enabled between deposit accounts at banks, sometimes intermediated

RBI proposes expanding UPI payments to allow pre-sanctioned credit lines

According to Das, the UPI has transformed retail payments in India and its robustness has been leveraged to develop new products and features from time to time

Credit Information firms to compensate for delayed updations: RBI

According to RBI Governor Shaktikanta Das, the above measures will further enhance consumer protection

Now boarding: Is India on the cusp of a tectonic shift in retail credit?

First-time customers are emerging as a huge catchment area for retail finance, but dangers lurk in the nooks and crannies

Industry's share of non-food bank credit hits record low of 26.6%

Economists at India Ratings blamed the recent surge in interest rates

Adani Group fallout? NBFC loans against shares under RBI scanner

The central bank's Department of Supervision sought this information over the past week, and the deadline for submission of large exposure was on Monday, informed a source

Bank credit grows at 16.1% to Rs 134.17 trillion in Feb 10 fortnight

About a month ago (January 13 fortnight), credit growth stood at 16.5 per cent YoY

RBI-MPC may go for 25bps policy rate hike in April, says Acuite Ratings

Credit rating agency Acuite Ratings and Research said the Reserve Bank of India (RBI) will continue with monetary tightening and will hike the policy rate by 25 basis points (bps).

Two-thirds of NTC consumers were from semi-urban areas in 2021: Report

More than two-third of the new to credit customers in India hailed from the rural and semi-urban areas in 2021, according to a credit information company. Women, farmers and youth lead the charge on the New To Credit (NTC) customer addition front, which is desirable from a financial inclusion perspective, Transunion Cibil said on Tuesday. In 2021, the total number of NTC customers stood at 35 million while the January-September 2022 period saw 31 million additions, it said in a report. NTC consumers are ones with no prior credit history on their credit bureau file who opened their first-ever, traditional credit product such as a consumer durable loan, personal loan, agricultural loan, two-wheeler, gold loan or home loan. More than a fourth of the NTC customers in the first nine months of 2022 started their credit journey by availing a consumer durable loan, followed by 16 per cent who took an agricultural loan and 13 per cent availed personal loans, it said. Among the NTC consumer

Hinduja sweetens offer for RCap to counter Torrent group's winning bid

CoC decide whether Hinduja offer is legally valid or not as e-auction has ended

Bank credit grows 17.2% YoY to Rs 129.48 trn in fortnight to Nov 18

Deposit growth rises 9.6%, analysts cite FPI flows, govt spending

Moody's give negative credit outlook to nations on high prices, slow growth

Moody's on Tuesday gave a 'negative outlook' to credit worthiness of countries globally for 2023, saying high prices of food and energy would curb economic growth and raise social tensions. Tighter financial conditions and economic scarring will push some debt burdens to unsustainable levels, while rising borrowing costs will erode debt affordability, according to Moody's. It forecast that as many as 13 nations, including India, would spend over 20 per cent of their government revenue in servicing debt next year. The policy dilemma between servicing creditors and meeting populations' demands for social and economic developments will intensify as governments dedicate a growing share of their revenue to interest payments, it added. "Our outlook for sovereign creditworthiness in 2023 is negative. Although inflation will start declining, prices of food and energy will remain high, curbing economic growth and raising social tensions," Moody's said. Global GDP growth will slow to 1.7 pe

Credit to industry up 12.6% YoY in September; touches 100-month high

Apart from base effect, credit to industry got a big boost from MSMEs; among sectors, petroleum, gems & jewellery, engineering, iron & steel, and construction were key drivers

Scale with proper capital allocation is critical: APAC Financial founder

We have built significant digital and physical infrastructure to cater to the credit needs of MSMEs (micro, small and medium enterprises) in the semi-urban and rural areas

Karur Vysya Bank net profit up 52% at Rs 250 cr in Q2, deposits grow

NPA declines to Rs 2,457 crore, compared to Rs 3,972 crore a year ago

25% micro credit customers graduated to SMEs since Covid: Bandhan Bank MD

Ghosh says bank is looking to increase branch count to 8,000 nationally from the current 5,640

Industry's Leading Bad Credit Loans Online: Loans For Bad Credit Approved Within 24 Hours

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Karur Vysya Bank Q1 net doubles to Rs 229 cr, interest income up 17%

Operating profit for up 15% YoY, major improvement seen in bad loans

RBI's credit line norms: Card-based fintech players may have to stop offers

Some of the players expected to take a hit due to the RBI's diktat are Slice, Uni Cards, Jupiter, EarlySalary, etc