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Overview of Banking Sector - September.

Here updates will be done constantly, on recent happenings in the banking sector especially in India. In this post you can see the recent major changes/ initiative by the RBI or other banks in the month of August and September 2011.  

Its just an overview of the Banking industry/sector current affairs.
  • RBI has tightened the finance companies norms by increasing the capital requirement to 15% from 12%.
  • NBFC's new rules under consideration. Where only NBFC's with assets worth of Rs.1000 crore should be regulated, even if they are doing business with their own funds.  This step will ensure that only players who are serious remain. 
  • Top 10 Non-Banking Financial Companies(NBFC's)
  • Company Name
    Assets ( In crores) apprx
    Shriram TransFi
    24,786
    M&M Financial
    12,165
    Sundaramfin
    11,479
    Cholamandalam
    9,017
    Shriram City
    8,539
    Bajaj Finance
    8,066
    SREI infra
    7,842
    Manappuram Finance
    7,577
    Magma Fincorp
    5,130
    First Leasing
    1,297
  • RBI said to end the Pre-Payment
  • (paying the loan amount before the maturity) penalty charges on floating rate loans,(home or car loan).  The bank charge as high as 3% on outstanding loan amount as charges. As this will discourage the loan seeker to end up the loan debt burden, bank has taken this step. Already banks like Axis has initiated this move.
  • The Major Micro Finance companies, Spandana Spoorthy Fianacial Services and Share MicroFin and Ashmitha Microfin plan to merger their businesses, thus creating a largest lender for small entrepreneurs. As of now only SKS  Microfinance is the only listed major player.
  • The increasing inflation has forced the RBI Governer, Subba Rao to make another increase in the interest rates by 25basic points(0.25%) which cumulative a 12th increase in the last 18months which is about an increase of 3.25%. 

2 comments:

  1. thanks for the useful information

    ReplyDelete
  2. nyc work sir...................

    ReplyDelete

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