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Agency assessed that the 30+ PAR could rise to 14-16 per cent of portfolio this month from a recent low of 6-7 per cent in March

Surabhi Mumbai | Updated on × Of the total auto debit transactions of 8.57 crore in May this year, 3.08 crore were returned Hit by the second wave of the Covid-19 pandemic and lockdowns, stress amongst borrowers seems to be on the rise, though it is lower than what was seen in the first surge of the pandemic. Data captured by the National Payments Corporation of India from its National Automated Clearing House (NACH) platform reveals that the number of unsuccessful auto debit requests increased for a second straight month in May. Of the total auto debit transactions of 8.57 crore in May thi...

Banks, MFIs warned against forcing SHGs to pay dues Updated: Updated: Share Article AAA Coimbatore District Collector S. Nagarajan has warned of action against banks and micro finance institutions (MFIs) that pressurise self-help groups (SHGs) to pay dues. In a release, Mr. Nagarajan said it had come to the district administration’s knowledge that private banks and MFIs were pressurising SHGs to repay loans during the pandemic period. Affected by the lockdown, the SHGs had had their livelihood affected. In such circumstances, the private banks and MFIs should give them time to service t...

This is the sixth time in a row that the Monetary Policy Committee (MPC) headed by RBI Governor Shaktikanta Das has maintained status quo. RBI had last revised its policy rate on May 22, 2020, in an off-policy cycle to perk up demand by cutting interest rate to a historic low.

Tirupur Exporters' Association also lauded the decision to extend a special liquidity facility of Rs 16,000 Crore to SIDBI for on lending/refinancing through novel models and structures and unchanged repo rate at four per cent.