Due to strong selling pressure following the Reserve Bank’s tightening of consumer credit standards, shares of bank and non-bank financial companies fell as much as 7% during Friday’s morning trading session. Shares of State Bank of India, Axis Bank, Canara Bank, and Bank of Baroda all saw decreases of 3.34 percent, 3%, and 2.67 percent,…
According to information provided by the Reserve Bank of India, the growth of non-food bank loan in January was 16.7%, a significant increase above the 8.3% growth seen in the same month last year. According to data on Sectoral Deployment of Bank Credit in January, credit growth to agricultural and related sectors increased to 14.4%…
The Reserve Bank of India (RBI) on Wednesday cancelled the certificates of registration (CoRs) of five Non-Banking Financial Companies (NBFCs) who had been offering their services through app-based platforms. The regulator mentioned irregular lending practices of the companies as the reason for its action. “The CoR of the Five NBFCs have been cancelled on account…
