by OverviewFX | Sep 5, 2024 | Banking & Finance
Kolkata: Microfinance company Satin Creditcare Network has raised Rs 120 crore in a securitization deal with HSBC India.The transaction was concluded with a coupon rate of 9.30%, the company said Wednesday. The deal involved issuance of pass-through certificates (PTC)...
by OverviewFX | Sep 4, 2024 | Banking & Finance
Bank of India has revised its fixed deposit (FD) interest rates for amounts less than Rs 3 crore and launched a new special fixed deposit tenure with higher interest rates. The revised FD rates are effective from September 1, 2024.Aadhaar free update, new credit card...
by OverviewFX | Sep 4, 2024 | Banking & Finance
New Delhi: Banks have drawn up a long list of around 3,000 entities involved in fraud that they will share and update on a real-time basis amid a spike in banking frauds, people familiar with the developments said. The list includes lawyers, builders, and gold loan...
by OverviewFX | Sep 4, 2024 | Banking & Finance
Kolkata: AU Small Finance Bank has formally made an application to the Reserve Bank of India for voluntary transition to universal bank, the bank announced Tuesday.”We wish to inform (you) that the bank has submitted an application to the Reserve Bank of India...
by OverviewFX | Sep 4, 2024 | Banking & Finance
The overall recovery rate till Q4FY24 was 32.10% implying a haircut of approximately 68%. The cumulative recovery rate has been on a downtrend, decreasing from 43% in Q1FY20 and 32.06% in Q1FY25 as larger resolutions have already been executed and a significant number...
by OverviewFX | Sep 4, 2024 | Banking & Finance
Sumitomo Mitsui Financial Group (SMFG), Japan’s second largest bank with close to $2 trillion in assets has taken full control of its non banking finance company (NBFC) SMFG India Credit Co (SMICC) increasing its stake to 100% after infusing Rs 1,300 crore this...
