Top lenders step up credit card issuance as stress expected to ease
The industry added 8.2 lakh new cards in January, with HDFC Bank leading with 3 lakh cards, followed by SBI Cards (2.4 lakh) and ICICI Bank (1.8 lakh). This brings the total number of credit cards in India to 10.89 crore, reflecting a year-on-year increase of 9.5%.
NCLT directs IIHL to put Rs 2,750 cr in RCap account
IIHL’s counsel, Abhishek Manu Singhvi, assured the court that previous issues with transferring equity funds to the escrow account have been resolved and asked for another 10 days to complete the deal. The court granted the extension and scheduled the next hearing for March 12.
Is the worst over for NBFC shares?
RBI Tuesday after market trading hours cut the risk weight for banks on loans to NBFCs from 125% to 100% depending on the rating of the finance company
Bad to worse: Microfinance sector NPAs hit ₹50,000 crore at the end of December last year
Non-performing assets in the microfinance sector soared to ₹50,000 crore at the end of December, reaching a 13% ratio of gross loans. The sector faced elevated stress from over-lending and deteriorating credit discipline, despite regulatory measures to lower capital allocation requirements for risky assets.