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Cash deposit via UPI possible soon, says RBI
Soon, PPI wallet holders on platforms like MobiKwik, Google Pay, PhonePe and Amazon Pay will be able to link their wallets to other third-party UPI ap
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12 SFBs currently operational
Interestingly, in its Trends and Progress report for 2022-23, the RBI has said that the consolidated balance sheet of SFBs expanded at a pace faster t
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Low credit discipline recipe for trouble
On the topic of containing risks from pro-cyclical credit growth, the deputy governor said runaway credit growth coupled with lax credit discipline, o
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Bank a/cs with common mobile numbers face tougher KYC norms
Banks are likely to seek more more verification from individuals who have multiple accounts opened with different documents
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What next for Paytm?
Notably, Paytm is expected to comply with the orders, and expects a worse-case impact of anywhere between Rs 300-500 crores in EBTIDA.
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Indians choosing car, house over shares
As per data from the Finance Ministry, home loans have consistently registered double digit growths since May 2021. Even vehicle loans have been growi
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OPS harmful in the long-run, says RBI
A recent RBI bulletin highlighted that the long-term financial damage of going back to OPS far outweighs the short-term lure of OPS
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Savings hit 50-year low
As per RBI data, household debt stood at 37.6% of India’s GDP, as opposed to constituting 36.9% of the country’s GDP in FY 22
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Big relief for borrowers with loan against properties
Additionally, any charges levied and recorded with any registry on such properties should also be removed within this time frame.
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Card defaults surge to Rs 4,073 cr
While it is easy to obtain and recklessly use a credit card, it is just as easy to spiral into an endless debt trap. Moreover, India has one of the hi
