sensex: Sensex up 68% in FY21, highest rise in 10 years
sensex: Sensex up 68% in FY21, highest rise in 10 years A global pandemic however, Dalal Street set several records in the course of the financial yr that ended on March 31, including a record rally past 52,500 factors for the sensex, market capitalisation that neared the $3 trillion mark and a record amount of […]
Banks closed for as much as 10 days in various states in April 2021; check full checklist of holidays
Banks closed for as much as 10 days in various states in April 2021; check full checklist of holidays In response to the Reserve Bank of India (RBI), most states will observe holidays on Good Friday, Dr. Babasaheb Ambedkar Jayanti and Ram Navami. Picture: Reuters Banks in India will remain closed for over 10 days […]
Mirae Asset Great Consumer Fund completes 10 years with 16.81% returns
Mirae Asset Great Consumer Fund completes 10 years with 16.81% returns Mirae Asset Investment Managers India has announced the completion of ten years of the Mirae Asset Great Consumer Fund on March twenty ninth, 2021. The fund’s AUM has elevated to Rs 1,140.20 crore as on twenty eighth February, 2021. The number of folios within […]
Govt to infuse Rs 14,500 crore in 4 PSU banks by recapitalisation bonds
Govt to infuse Rs 14,500 crore in 4 PSU banks by recapitalisation bonds The step completes the federal government’s capital infusion of Rs 20,000 crore in public sector banks for the present monetary yr. Authorities had earlier infused Rs 5,500 crore in Punjab and Sind Financial institution in December 2020. The Finance Ministry on Wednesday […]
Auto debit rule: New deadline is September 30
Auto debit rule: New deadline is September 30 In August 2019, RBI had issued a framework for processing of e-mandates on recurring on-line transactions. Initially relevant to playing cards and wallets, the framework was prolonged in January 2020 to cover Unified Payments Interface (UPI) transactions as effectively.Auto debit rule: New deadline is September 30 After […]
Barring Assam, microlenders’ assortment effectivity improves ‘significantly’ in This fall
Fresh mortgage disbursement from Bandhan within the fourth quarter has elevated from the third quarter of the present fiscal. Barring poll-bound Assam, microfinance players are seeing a wholesome enchancment in collection effectivity throughout all geographies within the fourth quarter in comparison with the third quarter this fiscal. In Assam, where voting for Assembly elections will […]
Digital lending: Authorities blocks 27 fraud lending apps providing immediate credit score on-line
India’s digital lending worth had jumped from $33 billion in FY15 to $150 billion in FY20 and is more likely to develop to the $350-billion mark by FY23. Following the ban on over 250 apps of Chinese origin ranging throughout classes similar to social network, gaming, e-commerce, information, enterprise, picture and video editing, and extra, […]
No interest on interest lockdown loan moratorium, guidelines. SC; refuses to increase aid
RBI had announced a loan moratorium on March 27 last yr. (Picture: REUTERS) The Supreme Court of India today dominated in favour of waiving compound interest, ie, interest on interest in the course of the six-month moratorium introduced by the Reserve Bank of India last yr. The apex court stated that banks won’t charge compound […]
RBI: Family financial savings rate slides to 10.4% in Q2 from 21% in Q1
Nonetheless, households’ financial savings rate for Q2FY21 dominated greater than that of 9.8% witnessed in Q2FY20. The household financial savings rate slide to 10.4% of gross domestic product (GDP) — nearer to pre-pandemic ranges — in Q2FY21 from 21% in Q1 in a counter-seasonal manner, the Reserve Bank of India mentioned in an article in […]
NPCI to launch new digital transaction product for featured telephones
Whereas an SMS-based payment solution known as Unstructured Supplementary Service Data (USSD) was launched by NPCI in 2016, its use later bought discontinued with the launch of the Bharat Interface for Payments (BHIM) app in late 2017. National Payments Corporation of India (NPCI) is engaged on a digital funds product for feature cellphone customers and […]