Mahindra Finance forays into mortgage business
Mahindra & Mahindra Financial Services intends to leverage its geographical presence in the retail lending space.
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PhonePe partners with lenders to offer loans on app
PhonePe users will now have access to lending solutions directly within the PhonePe app.
RBI insecure about unsecured loan surge
Between FY18 and H1 FY24, credit card loans trebled to ₹2.2 lakh crore while personal loans grew 2.5 times to ₹13.4 lakh crore
Micro credit grows to ₹2.63 lakh cr, MFI loans up 19% in 2021-22
The average ticket size per loan stood at ₹39,903 as on March 2022 whereas it was ₹36,510 as on March 2021.
The importance of foreign banks during downturns
Several studies have shown that foreign banks play a positive economic role, especially in emerging markets, by increasing local banks’ efficiency. India is no exception.
Capital Float raises $15 million in equity funding
The Bengaluru-based fintech company says it will utilise the funds to boost its capital base and ramp up SME and consumer loan services.
Instamojo aims to reach 10 mn merchants in three years
The company also wants to grow its loan book to ₹1,000 crore, says co-founder and chief executive Sampad Swain.
Finance minister holds review meeting with bankers
FM Nirmala Sitharaman will hold similar meetings with representatives from MSMEs, auto, industry associations, financial market stakeholders, and others to address sector-specific issues.
Financing MSMEs: The continuing challenge
The performance of banks in rural and MSME lending has been inadequate even after the considerable expansion of the scope of priority-sector loans.
How MFIs can balance profits with social good
Right policy measures and strategic tie-ups with banks hold the key.
