Tag Archives: banks

6 Reasons Small Businesses May Need to Change Banks

Do you know how some people are quick to purchase those novel kitchen gadgets in a TV infomercial? Well, there were a handful of years when I got excited about new banking options and opened a bunch of savings accounts with different banks. Just like people found uses for those “As Seen on TV” gadgets, I found ways to justify ... Read More »

Will Banks Survive? Inside Financial Tech’s Disruption of the Way You Fund Your Business

“My six-month-old baby daughter is probably going to open her first bank account, not with an HSBC or a JP Morgan, but rather with a Facebook or Apple.” Financial technology (fintech) aficionado Henri Arslanian believes that in the future, banks will be obsolete. Instead, people will turn exclusively to solutions such as Facebook or Amazon for their financial needs. He ... Read More »

Insurer Aviva India Turns To PSU Banks On Recapitalisation Plan Boost

Aviva Plc’s India life insurance joint venture is raising its exposure to the country’s state-run banks as it bets the government’s $32 billion plan to rescue lenders burdened with record bad loans will boost their prospects. The insurer also likes metals stocks and consumption-driven sectors, especially those that target rural consumers, but would avoid the non-bank finance companies, Prashant Sharma, ... Read More »

Moody’s affirms State Bank’s ratings

MUMBAI, OCT 16:   Moody’s has affirmed the ratings on State Bank of India’s local and foreign currency deposits of Baa3/P—3 apart from affirming the Baa3 rating on its senior unsecured debt issued through its London branch and the Baa3 rating on its medium term note programme. While retaining the ratings today, the global ratings agency noted that since the merger ... Read More »

Market Live: Nifty inches towards record high, Sensex up over 200 pts; Banks lead

Moneycontrol News 11:24 am Buzzing: Jaiprakash Associates share price gained 4 percent after the company told Supreme Court that it was unable to raise Rs 2,000 crore to deposit before court as directed. It sought court nod to sell Yamuna Expressway to mobilise funds. Supreme Court will hear Jaiprakash Associates plea on October 23. 11:15 am Rate cut likely post macro ... Read More »

Small finance banks on deposit mobilisation spree on 1st year of operation

With eight out of ten small finance banks now fully operational, aggressive deposit mobilisation in the first year of operation has turned out to be the key strategy for almost all the new entities. In addition, the new age banks are betting big on technology to reduce the cost of operations.   All the operational small finance banks are offering up to 100-150 basis points higher interest rate on term deposits over market rates. ... Read More »

Finance Entrepreneurs Want To Make It Safer for Banks To Work With Cannabusiness

Dockside Marijuana Store in Seattle One of the hardest things for a legal marijuana business to do is open a bank account, because Federal law prohibits it. In Washington state, which will sell about $1B of marijuana this year, just a handful of small banks and credit unions offer banking to cannabis businesses. Two entrepreneurs in Chicago with backgrounds in ... Read More »

Let some banks die: Subbarao

KOLKATA. AUGUST 23:   Duvvuri Subbarao, former Governor of the Reserve Bank of India, on Wednesday said consolidation of banks is necessary to strengthen the banking system, and the government should be bold enough to “let certain banks die” in the process. “Consolidation should be done keeping in mind the interest of minority shareholders and bring in greater autonomy for banks. ... Read More »

It’s official, Indian banks’ health will worsen

The Reserve Bank of India is pushing banks hard on NPAs, but the resolution of bad loans will be a long haul. Photo: Aniruddha Chowdhury/Mint Those who have been hoping that the worst is behind the Indian banking industry are a disappointed lot. Going by the Reserve Bank of India’s (RBI) June Financial Stability Report, the risks to the banking ... Read More »

Small Business Lending from Big Banks and Institutional Lenders Surges, Biz2Credit Reports

Big banks and institutional lenders continue giving small businesses a reason to smile. According to the newly released Biz2Credit Small Business Lending Index report for November 2016, loan approval rates at both big banks and institutional lenders continued to rise, improving to new highs. What’s more, small banks also showed an increase in small business loan approval rates. The only drop in ... Read More »