ICICI Pru, insurance firms, banks, NBFCs under lens for ₹824 cr GST fraud
The DGGI began its probe based on specific information against ICICI Prudential Insurance on availment of ineligible credit.
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RBI imposes financial penalty on 8 banks for breach of norms
Latest action comes days after RBI imposed monetary penalty on 8 banks and cancelled licences of 2 NBFCs. It also cancelled licence of Rupee Co-operative Bank
RBI cracks down on loan recovery agents harassing customers
RBI says recovery agents who work on behalf of banks and NBFCs can't resort to intimidation or harassment of borrowers, and not call them on phone at odd hours in their debt collection efforts
Small NBFCs could witness sharp increase in funding costs: Ind-Ra
A large quantum of borrowings to be raised by large NBFCs would lead to a further increase in the banks' exposure to the sector.
RBI transferred ₹1.14 lakh cr to contingency fund in FY22
RBI’s income for 2021-22 increased by 20%, while expenditure grew a whopping 280%; transferred surplus worth ₹30,307.45 crore to govt.
NBFCs can’t issue credit cards without prior RBI nod
RBI’s new master guidelines underline key directors for NBFCs and scheduled banks with regard to issuing debit and credit cards.
RBI's microfinance rules offer more flexibility to NBFCs: ICRA
This comes days after the banking regulator removed the cap on the rate of interest charged by microfinance NBFCs.
NBFC AUM to hit ₹30 lakh cr by FY23, Omicron a concern: CRISIL
Improving economic activity, balance sheets to aid growth, but asset quality worries could play spoilsport.
Cautiously optimistic credit outlook for FY22: CRISIL
Aided by strong demand recovery, credit ratio rebounds to 1.33 in H2FY21, from 0.54 in H1FY21. GDP could grow at 11% in FY22, but the resurgence in Covid-19 cases is a key downside risk, says CRISIL.
Despite Covid-19, record capital raised in FY21
The pandemic, ultimately, was unsuccessful in denting the country's capital raising confidence, as India Inc. raised over ₹1.88 lakh crore, beating the record of over ₹1.75 lakh crore raised in FY18.
