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India’s banks, NBFCs to face rising credit costs, liquidity strain if conflict drags: Report

India's financial sector faces challenges if the Middle East conflict continues. Banks and lenders will see higher costs and less liquidity. Borrowers, both companies and individuals, will feel the strain. Oil and gas supply disruptions will impact industries. The rupee may weaken. Despite these pressures, India's overall economic conditions are expected to remain stable. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/2lDatey via IFTTT
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Gaming transactions involving Fino Bank may face ED probe

Investigators found many cases of funds routed through multiple accounts or entities to obscure their origin, necessitating a deeper scrutiny under the anti-money laundering law, they said. The matter is connected to an ongoing investigation into alleged GST evasion related to online betting applications involving transactions totalling around ₹10,000 crore. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/YpuqKvw via IFTTT
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Axis Bank ordered to pay ₹3.19 crore for refusing demonetised notes in 2016

Axis Bank must pay Procure Logistics Services Pvt Ltd Rs 3.19 crore. The National Consumer Disputes Redressal Commission found the bank deficient in service. Axis Bank refused to accept demonetised currency notes from the company during the 2016 demonetisation period. This refusal caused the company a direct and irreversible loss. The commission ordered payment with interest. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/30ruo7e via IFTTT
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IDBI Bank sale may stall as bids trail reserve price

IDBI Bank sale: An outright cancellation of the strategic sale of IDBI will make it harder for the government to realise its FY27 disinvestment and asset monetisation target of ₹80,000 crore. At Friday's share price on the BSE, the sale of a 30.48% stake in IDBI Bank could fetch the government about ₹30,215 crore. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/CbPWf91 via IFTTT
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Banks recorded higher credit and deposits growth in the fortnight to February 28

Bank credit saw a strong 14.5% year-on-year growth by February 28. Deposits also expanded, reaching 11.9% growth. This marks an acceleration from the previous fortnight. Scheduled commercial banks hold Rs 251.90 lakh crore in deposits, with fixed deposits forming 87% of this amount. Total bank credit stands at Rs 207.54 lakh crore. The credit-deposit ratio slightly eased to 82.39%. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/f0j8IzT via IFTTT
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ED raids 19 locations in Rs 597 crore IDFC First Bank fraud; over 90 bank accounts frozen

The Directorate of Enforcement has searched 19 locations in a Rs 597-crore scam. Public funds meant for fixed deposits were allegedly siphoned off. The investigation involves former bank employees and shell entities. Proceeds were routed through jewellers and real estate developers. Over 90 bank accounts were frozen during the searches. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/a5ionOT via IFTTT
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Banks urged to devise low-interest loans for retail, MSME clients

Banks will discuss internally how such schemes can be designed with a uniform loan application and other credit appraisal metrics. The retail loans will cover all consumer loans, including housing loans, subject to prudent lending guidelines, said an official. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/b72uMlj via IFTTT
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