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Nov 19, 2024 | 
outlookbusiness.com | Pushpita Dey
The Ministry of Heavy Industry (MHI) has restored the subsidies for electric three-wheelers, allocated under the PM E-drive scheme, after the sanctioned amount of subsidies for FY25 exhausted within few months. However, several policymakers and government advisors believe that the industry now needs to play a much larger role, than the government, to ensure viability and remain competitive.
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Nov 18, 2024 | 
outlookmoney.com | Pushpita Dey
In the face of rising higher education costs, planning your child's higher education seems more important than ever. In India, getting a degree can go up from Rs 15-40 lakhs depending on the course and institute. And in the midst of increasing inflation, this cost is mounting. Beginning early and making wise decisions will enable you to amass a significant education fund. Here is a step-by-step guide: The longer you save, the more investment time will work to your advantage.
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Jun 2, 2024 | 
thecore.in | Pushpita Dey
The Reserve Bank of India’s (RBI’s) recently released draft guidelines on infrastructure financing seem to have added to the worries of Indian banks. The RBI suggested that banks allocate a provision of 5% of the loan amount given out for an infrastructure project during the construction phase. The plan is to increase the provision rate in a phased manner from the current 0.4%, a significant shift.
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May 20, 2024 | 
beta.thecore.in | Pushpita Dey
Last November, the Reserve Bank of India (RBI) dealt a body blow to non-banking finance companies (NBFCs) when it asked banks to steeply raise the risk weight for loans given to NBFCs by 25 percentage points. The impact was immediate as it partially turned off NBFCs’ primary capital spout. The rate of bank lending to them almost halved to 15.3% in March 2024 from 29.9% in March 2023, RBI data showed.
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May 9, 2024 | 
thecore.in | Pushpita Dey
Passbook-holding customers of the South 24 Parganas branch of a public service bank in West Bengal feel hassled. Many of them haven’t been able to update their passbooks because of the non-functional printing machine. A source at the bank, requesting anonymity, told The Core that around 1,500 to 2,000 requests for printing machines from different branches are pending with the bank.
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Apr 29, 2024 | 
thecore.in | Pushpita Dey
Vikram Mittal, the co-founder of MAVI’s Pantry, a small company that manufactures fermented products like Kombucha and Kimchi, was elated when a large Mumbai-headquartered Indian conglomerate placed an order with his company in April 2023. While this was an opportunity for visibility and business growth, it did not end well for the company. Mittal had to spend months chasing after payments. A year later, he still hasn’t received the entire amount promised for the order.
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Apr 22, 2024 | 
thecore.in | Pushpita Dey
Krishna Veni, a 40-year-old homemaker living in the slum near Hyderabad’s Rajiv Gandhi International Airport, does not use payment apps such as Google Pay, PhonePe or BHIM. Not because she does not want to but because she cannot for a simple reason: her mobile phone number is not linked to her bank account, the vital connection underlying India’s famously successful digitalisation technology, the Unified Payments Interface (UPI). “My bank account is linked with my husband’s phone number.
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Mar 31, 2024 | 
thecore.in | Pushpita Dey
The recent regulatory action by the Reserve Bank of India (RBI) against Paytm Payments Bank, the digital lending division of fintech giant Paytm, has put the payments bank model in India under the spotlight. In 2016, the RBI had initially granted licences to 11 payments banks. However, after eight years, only five of them are still operational, with Paytm Payment Bank being the largest, with 300 million wallets and 30 million bank accounts, to cease its operations.
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Mar 19, 2024 | 
thecore.in | Pushpita Dey
In the recent past, Indian banks have successfully reduced the share of non-performing assets (NPAs) in their books of accounts. This is good news for the banks but bad news for Asset Reconstruction Companies (ARCs), that help banks with debt resolution. Fewer NPAs mean fewer opportunities for ARCs, particularly in corporate loans. There hasn't been any notable transfer of corporate loans to private ARCs recently.
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Mar 15, 2024 | 
thecore.in | Pushpita Dey
When the Reserve Bank of India (RBI) launched the central bank digital currency (CBDC) in December 2022, Tanmoy Khanra, a 29-year-old IT professional from Bengaluru, was fascinated with the fact that it was a digital currency based on blockchain technology. Khanra downloaded the Digital Rupee By ICICI app in March 2023 out of curiosity to experiment with making payments with CBDC. A year later, Khanra has stopped using it because he finds Unified Payments Interface (UPI) to be more user friendly.
