Indian market opened on a strong note on Wednesday tracking positive global cues. The S&P BSE Sensex rallied more than 100 points but quickly pared gains while the Nifty50 traded comfortably above 17,850 in the first 15 minutes of trade. Sectorally, buying was seen in power, utilities, capital goods, and the public sector while some … Read more
NEW DELHI: Rate sensitive stocks gained on Wednesday after the Reserve Bank of India (RBI) hiked repo rate – the rate at which it loans money to banks — by 50 basis points to 4.90 per cent in order to tackle elevated inflation. Most bank stocks, which are among the most sensitive stocks with respect … Read more
KOLKATA: The Rs 12,000-crore microfinance industry in Assam is facing a double whammy. The promises of waiver for micro loans by political parties made in the last few days in the poll-bound state have triggered an alarm while the state assembly only recently passed the microfinance bill suggesting restrictions of certain business practices. Investors planning … Read more
Kolkata: Private sector Bandhan Bank plans a giant leap into retail lending as part of its evolution as a universal bank with a five-year business plan. The predominantly microfinance lender would now go all out in car loans, two-wheeler loans, consumer durable loans to raise its stake with urban and semi-urban middle class borrowers, managing … Read more
Ghosh, who has been heading Bandhan since its days as a microlender, termed the bank’s biggest setbacks — regulatory wrath for high promoter ownership and also the exposure to failed infra lender IL&FS – as “learnings”. Having stabilised the ship after some reverses on its flagship micro loans due to demonetisation and the humbling experience … Read more
The CEA urged banks to invest in technology to “defeat the nefarious designs of the wilful defaulters.” Chief Economic Advisor (CEA) Krishnamurthy V Subramanian on Sunday urged the Indian banking sector to perform like now-retired Mahendra Singh Dhoni’s team which “went and achieved success everywhere in the world” instead of the 1990s team which was … Read more
“Consequent to the above, all the regulatory restrictions imposed by the RBI vide letter dated September 19, 2018, on the bank are now withdrawn,” it added. Bandhan Bank on Monday said the Reserve Bank of India (RBI) has lifted the regulatory restriction imposed on the remuneration of its managing director and CEO Chandra Shekhar Ghosh, … Read more
Bandhan Bank MD & CEO Chandra Shekhar Ghosh. (PTI) Bandhan Bank on Monday said the Reserve Bank of India has lifted restrictions on remuneration of the bank’s MD & CEO Chandra Shekhar Ghosh at the existing level. The curbs were withdrawn after the lender met RBI norms to reduce promoters’ stake to 40 per cent. “This … Read more