State Bank of India hikes lending rates by 0.1% for second time in a month, EMIs to get costlier

The move came nearly two weeks after the Reserve Bank of India raised its repo rate by 0.4% to 4.40%.

Scroll Staff

· May 16, 2022 · 04:44 pm

State Bank of India raises lending rates by 0.1%, EMIs to get costlier

Following the State Bank of India’s move, Bank of Baroda, Axis Bank and Kotak Mahindra Bank also increased their benchmark lending rates.

Scroll Staff

· Apr 19, 2022 · 05:49 pm

Why Citibank joined a line of foreign banks leaving India

A pioneer in the country’s credit cards space, Citi saw its outstanding credit cards decline from 26 lakh a year ago to 25 lakh by the end of February.

Mimansa Verma, qz.com

· Apr 01, 2022 · 01:30 pm

From Nirav Modi to ABG Shipyard: Why do bank frauds keep happening in India?

A lack of regulation, flawed lending policies and an inefficient fraud monitoring mechanism are among the factors that have led to a rise in NPAs.

Mimansa Verma, qz.com

· Feb 26, 2022 · 01:30 pm

Public banks are being marginalised in the lending arena by new-age financial power brokers

India is leaning dangerously toward enabling a new generation of oligarchs in the mould of Russia or Mexico.

Rohit Chandra

· Jan 20, 2022 · 09:00 am

RBI supersedes board of Anil Ambani’s Reliance Capital, to start bankruptcy proceedings

The central bank said the company has not been able to meet payment obligations to its creditors and address other ‘serious governance concerns’.

Scroll Staff

· Nov 29, 2021 · 08:39 pm

For India’s finance industry, there seems to be no end to the bad loan problem

Between April and June, many borrowers could not repay banks as the country’s second-wave of Covid-19 dented businesses and jobs.

Mimansa Verma, qz.com

· Aug 27, 2021 · 11:30 pm

At the Jackson Hole meet of central bankers, Covid-19’s impact may not be the biggest concern

Instead, they are likely to be taking on resurgent inflation, asset and property bubbles and the urgent action needed to halt climate change.

Alan Shipman, The Conversation

· Aug 27, 2021 · 07:30 pm

RBI’s ban on Mastercard could be a win for Indian government’s own payment systems

The US-based Mastercard had not complied with data storage rules from 2018 that require foreign card networks to store Indian payments data within the country.

Mimansa Verma, qz.com

· Jul 17, 2021 · 01:30 pm

Why Facebook, Google and Amazon want to build online payments platforms for India

The success that UPI has tasted since its inception in April 2016 has caught the attention of tech giants.

Prathamesh Mulye, Qz.com

· May 25, 2021 · 07:30 pm

Citigroup to exit retail banking business in India, 12 other countries

The company plans to focus on wealth management.

Scroll Staff

· Apr 15, 2021 · 11:09 pm

This year will be a litmus test for India’s banking system. Here’s why

According to credit ratings agency S&P Global, Indian banks’ share of bad loans is expected to shoot up to 11% by March from 7.6% in September 2020.

Prathamesh Mulye, Qz.com

· Jan 11, 2021 · 01:30 pm