The National Payments Corporation of India (NPCI) has announced that a new set of regulations on Unified Payment Interface (UPI) system will be in effect from August 1. The new Application Programming Interface (API) usage rules for all banks and payment apps, including changes to AutoPay, and checking account balance will begin from the next […]
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A sweeping cyber espionage operation targeting Microsoft server software compromised about 100 organizations as of the weekend, two of the organizations that helped uncover the campaign said on Monday. Microsoft on Saturday issued an alert about “active attacks” on self-hosted SharePoint servers, which are widely used by organizations to share documents and collaborate within organizations. […]
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Lack of access to “timely and adequate” credit and shortage of manpower are among the key challenges that Micro, Small and Medium-scale Enterprises (MSMEs) face, according to a Small Industries Development Bank of India (SIDBI) report titled “Understanding the Indian MSME Sector: Progress and Challenges”. The report, which is based on a survey of 2,000 […]
Continue ReadingA view of IDBI bank | Photo Credit: G. Ramakrishna The deadline to submit preliminary bids for IDBI Bank privatisation is likely to be extended by almost a month till early January, a government official said on Friday. The government and LIC together are looking to sell a 60.72 per cent stake in IDBI Bank, […]
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The Reserve Bank of India | Photo Credit: REUTERS All major banks have increased their external benchmark-based lending rates (EBLRs) by 190 basis points in tandem with the hike in the Reserve Bank’s policy repo rate since May this year, though they have been slow in raising the deposit rates. The Reserve Bank of India […]
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S&P Global Ratings on Thursday said non-performing loans of banks are expected to decline to 5-5.5% of the total advances by March 2024. As per the latest Financial Stability Report published by the RBI, the gross non-performing assets (GNPA) declined to a six-year low of 5.9% in March 2022. “We project the banking sector’s weak […]
Continue ReadingThe sources said banks were asked to expedite non-performing assets (NPAs) resolution and focus on the recovery of bad loans The sources said banks were asked to expedite non-performing assets (NPAs) resolution and focus on the recovery of bad loans The Finance Ministry has asked public sector banks to explore fintech partnerships and co-lending opportunities […]
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