The irregularities within the auto mortgage portfolio pertains to the fees that some executives of the financial institution had compelled debtors to purchase GPS units bundled with auto loans. The nation’s largest personal sector lender, HDFC Bank, will refund the GPS machine fee to clients who had availed of such machine as a part of
Banking & Finance
The portfolio excellent of microfinance sector stood at Rs 2.54 lakh crore as of March 2021, with 10% quarter-on-quarter progress and eight.4% year-on-year progress. The gross mortgage portfolio (GLP) of banks within the microfinance sector grew 15.5% year-on-year to Rs 1.06 lakh crore on the finish of the earlier fiscal whereas that of small finance
Notably, the PSL dispensation might be legitimate as much as March 31, 2022. Nevertheless, loans thus disbursed will proceed to be categorised underneath precedence sector until the date of reimbursement/maturity, whichever is earlier. Small Finance Banks (SFBs) are getting recent credit score requests from smaller micro-finance establishments (MFIs) for on-lending after the Reserve Financial institution
Rajiv Anand, govt director — wholesale banking, Axis Financial institution By Ankur Mishra and Malini Bhupta Axis Bank is turning into a pacesetter within the wholesale section and is betting on a pick-up in capital expenditure. Rajiv Anand, govt director – wholesale banking – Axis Financial institution, tells Ankur Mishra and Malini Bhupta that personal
The financial institution additionally acknowledged that it had totally offered for Lanco Infratech. Public sector lender Punjab & Sind Financial institution has declared Lanco Infratech as ‘fraud’ account, the financial institution stated in a regulatory submitting on Wednesday. The financial institution has an publicity of Rs 215 crore in the direction of Lanco Indratech. “It’s
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