In each of the last three years – from 2020 through 2022 – Indian banks lent more money to retail customers purchasing homes than they did to farmers. In fiscal year (FY)2021-22 commercial banks gaveRs. 17.54 lakh crore worth of housing loans, while agriculture and allied activities got Rs. 15.16 lakh crore. That is nearly 14 percent less. In FY 2021 and FY 2020 – one of which saw a...
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India’s 20 Largest Profit Generators Are Earning 80% Of the Nation’s Profits - Nandita Rajhansa, Saurabh Mukherjea
A decade ago, this figure was around 40%. This is leading to an increasingly polarised stock market - Marcellus/The Wire The United Payments Interface and the digitisation of business activity in India are one of the several factors driving an exponential surge in the concentration of corporate profitability in India. Improvements in transport infrastructure (e.g., the highway network has doubled over the past decade), the introduction of GST (in 2017) and new...
More »Credit growth spurs public lenders’ balance sheets to 10-year high in first half of FY23: RBI report
-The Hindu ‘Commercial banks may have to raise deposit rates more to meet a surge in credit demand; while banks have swiftly transmitted increases to lending rates, deposit rates have been laggards for most’ Under the backdrop of a highly uncertain global environment caused by globalisation of inflation, energy and food shortages, and synchronised tightening of monetary policy worldwide, the Indian economy was exhibiting signs of a gradual strengthening of the growth...
More »MSME loan approval rates muted despite 2-fold increase in funding: Report -Anshika Kayastha
-The Hindu Business Line MSMEs face a credit gap of ₹25 lakh crore as formal lenders meet less than 15 per cent of the sector’s requirements Quarterly MSME loan disbursements have increased over two-fold in the last two years, but the approval rate for medium-risk MSMEs has seen no improvement — a reflection of the lender’s low risk appetite, according to venture capital firm BLinC Invest. The increase in disbursements has been made...
More »RBI reluctant to hand out NBFC licence to fintechs -Hamsini Karthik
-The Hindu Business Line PhonePe - ZestMoney deal to set precedence for fintechs to explore backdoor entry into the lending business Despite three months of engagement and continued discussions with the banking regulator, fintechs may not have cracked the code yet to operate as non-bank lenders. Highly placed sources say the Reserve Bank of India is reluctant to issue non-bank finance company or NBFC licences to fintechs. PhonePe, Razorpay, BharatPe, Khatabook, OkCredit and...
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