Banks

A month subsequent to the Reserve Bank of India's (RBI) announcement of stricter regulations governing credit to non-banking financial companies (NBFCs), the borrowing costs for these entities have surged significantly. Simultaneously, banks are also experiencing heightened expenses for funds amid tight liquidity conditions within the banking system. Data from the Clearing ...

In the fiscal year 2022-23, Indian banks expanded their global footprint through subsidiaries, reaching a total of 417 compared to 399 in the previous fiscal year, according to data released by the Reserve Bank of India (RBI). The RBI's survey on International Trade in Banking Services 2022-23 revealed a 0.5 per ...

In the latest sectoral deployment data released by the Reserve Bank of India (RBI), scheduled commercial banks extended a gross bank credit of INR 23.15 lakh crore to micro, small, and medium enterprises (MSMEs) under priority sector lending in October. The figure reflects an increase of 22.8 per cent compared to the INR ...

The Finance Industry Development Council (FIDC), a non-banking lender body, has called upon the Central Board of Indirect Taxes and Customs to provide clarity on the exemption of goods and services tax for the excess rate of interest retained by non-banking financial companies in a co-lending model with banks. The FIDC, ...

The State Bank of India (SBI) has raised its marginal cost of funds based lending rate (MCLR) by 20 basis points (bps) across tenures, a move that will make EMIs expensive. MCLR for one year, which is considered important as long-term loans like home loans are linked to this rate, is now at 7.70 per ...