Financial Institutions

IRDAI Guidelines on Trade Credit Insurance

The Insurance Regulatory and Development Authority of India (IRDAI) recently issued draft guidelines for general insurance companies. The guidelines mainly focus on credit insurance products with customised covers for MSMEs. Guidelines on Trade Credit Insurance The guidelines will enable general ..

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HDFC ERGO launches Business Kisht Suraksha cover

HDFC ERGO General Insurance has launched the “Business Kisht Suraksha” cover. It is a unique cover which was launched with the aim of protecting the balance sheet of Micro finance Institutions (MFIs), financial institutions and banks if any catastrophe or ..

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RBI Data on Bank Credit and Deposits

The Reserve Bank of India (RBI) has recently released its data on the Bank Credit and Deposits. Key findings The data shows that, the Bank credit grew by 5.93 per cent which now accounts for Rupees 5 lakh crore for ..

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RBI releases Framework for sale of Loan Exposure and Securitization of Standard Assets

The Reserve Bank of India recently released draft framework for “Sale of Loan Exposures” and “Securitization of Standard Assets”. Highlights The guidelines issued are applicable to Scheduled Commercial Banks. This includes All India Financial Institutions such as EXIM Bank, NABARD, ..

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SC places Cooperative banks under SARFAESI Act

The Supreme Court of India recently pronounced its judgement that cooperative banks shall be placed under SARFAESI Act. Highlights The Supreme court has upheld the GoI notification dated January 28, 2003 under which the cooperative societies have come under SARFAESI ..

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RBI permits ARC to buy financial assets from Peers

The Reserve Bank of India (RBI) has permitted Asset Reconstruction Companies (ARCs) to acquire financial assets from peers i.e. other such entities. However, RBI, the apex banking regulator cleared that all such transactions have to be settled in cash. Key ..

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Proceeds from Disinvestments exceeds Target

The proceeds from the disinvestments have exceeded the disinvestment target for the fiscal 2018-19 by Rs 5,000 crore taking the total proceeds to Rs 85,000 crore against the targeted Rs 80000 Cr. Disinvestments Disinvestment refers to the process of public asset ..

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Banks, FIs ink inter-creditor agreement for faster NPA resolution

Banks and Financial Institutions (FIs) have signed Inter-Creditor Agreement (ICA) aimed at faster resolution of stressed assets of Rs. 50 crore or more which are under consortium lending. It has been signed by 22 public sector banks, 19 private sector ..

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