CareEdge Ratings estimates bank credit growth in India to be in the range of 14-14.5 per cent in financial year 2024-25. In current financial year 2023-24, credit offtake is anticipated to close with a growth of around 16 per cent excluding the HDFC merger. According to the rating agency, the effect of the HDFC merger […]
The slow growth in private consumption signals a mild expansion of sales activity of Indian micro, small and medium enterprises (MSMEs), according to the Jocata Sumpoorn index. Jocata Sumpoorn moved up to 0.62 in October, showing sales activity for credit-seeking MSMEs in the zone of moderate expansion. As sales performance had been in the zone […]
The fintech platform PhonePe is likely to launch consumer lending on its platform by January 2024, according to a report from a leading media house. The Walmart-backed platform is expected to operate as a distributor for personal loans. The fintech is in the final stages of integration with five lenders from banks and non-banking financial […]
Reserve Bank of India(RBI) has flagged the high growth in certain components of consumer credit and has advised banks and non-banking financial companies (NBFCs) to strengthen their internal surveillance mechanisms, address the build-up of risks and institute suitable safeguards. On a review, it has been decided to increase the risk weights with respect to consumer […]
Swiggy, the online food delivery platform, announced on Tuesday that it has facilitated the disbursal of over Rs 450 crore in loans to more than 8,000 restaurant owners through its capital assist programme. Launched in 2017, this pioneering initiative addresses the financing gap and empowers restaurant owners. According to the company’s statement, over 8,000 restaurants […]
