RBI asks banks, NBFCs to allow customers to choose multiple networks
It said that it found in a review that some arrangements between card networks and issuers are “not conducive to the availability of choice for customers”.
It said that it found in a review that some arrangements between card networks and issuers are “not conducive to the availability of choice for customers”.
For NBFCs, loans with a ticket size below Rs 1 lakh constituted over 85 per cent of loan originations by volume in FY23.
The stakeholders also discussed prioritizing the upgradation of IT systems and cyber security amid the increase in the use of technology applications.
The governor of the Reserve Bank of India (RBI), Shaktikanta Das, launched a new 'SupTech' initiative Daksh - the central bank's advanced monitoring system - which is expected to make the supervisory processes more robust.
Microfinance was once applauded as the world's most powerful tool for eliminating poverty. The initial microfinance boom brought many benefits. But it is now widely reported that the effects of microfinance loans on poverty, health and other social outcomes have been ‘small and inconsistent'.
The survey findings showed more HFCs expect a higher growth rate vis a vis NBFCs and, smaller and mid-sized entities expect higher growth rate vis-a-vis their larger peers.
Gold loan was flat in the first quarter of this fiscal because of low disbursements in April and May due to the countrywide lockdown.
The finance ministry wants all payments to be credited in the accounts of borrowers well before Diwali by November 5.
The scheme has been launched to improve the liquidity position of NBFCs/HFCs through a Special Purpose Vehicle (SPV) to avoid any potential systemic risks to the financial sector.
Post lockdown, the Built Environment Sector is expected to draw professionals from across the world.