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The criteria include a five-year track record of satisfactory performance, a net worth of 10 billion rupees, meeting capital requirements, recent profitability and limited non-performing assets, the Reserve Bank of India (RBI) said. Existing promoters can continue without new additions and approved shareholding plans will remain unchanged, while diversified loan portfolios are favoured, the central bank said.

Consumer Financial Protection Bureau CFPB Director Rohit Chopra protested outsized power of small bank and credit union core service providers at Community Bank Advisory Council and Credit Union Advisory Council joint meeting.

Indian fintech lenders grab turf from China as Google begins app clean-up Fintech players further claimed that out of the new applications received in the last two months, nearly 40-45% were from customers that had earlier dealt with China-backed lenders. Synopsis Most domestic fintech lenders that ET spoke with said that their business rose 20-40% month-on-month since December, when the crackdown started. Recently, Google pulled the plug on more than 500 instant-credit apps that had their roots in China and were not compliant with the central bank norms. With Google removing nearly 500 China...

2021 Labor and Employment Spotlight: A List of Key Legal Updates for Employers, January 13, 2021, Nichole Atallah, Sara Nasseri, and Sarah Nash Undeniably, 2020 was a year like no other. Faced with a global pandemic and a tumultuous election, employers were presented with a unique set of challenges and a myriad of new—and at times, very vague—laws and regulations. Despite the start of a new year and a new administration in just a week, much of 2020 still lingers on, including some of its novel policies. However, the new year and new administration also signal a shift in direction for labo...

Paycheck Protection Program opens to all lenders on January 19 In order to be approved applicants must fall under certain categories. Posted: Jan 18, 2021 7:14 PM Updated: Jan 19, 2021 10:17 AM Posted By: Tyler Ridgle MEDFORD, Ore. -- SBA is re-opening the Paycheck Protection Program to all lenders on Tuesday. The president and CEO of Medford's Chamber of Commerce, Brad Hicks, says not much has changed since the first round of PPP was made available, but people should be aware of a few changes. In order to be approved applicants must fall under the categories of a small business with 500 or...