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.
- The RBI has come up with new guidelines (eligibility criteria) for the new banking license. Here is the New Eligibility Criteria for New Bank License.
- 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 NameAssets ( In crores) apprxShriram TransFi24,786M&M Financial12,165Sundaramfin11,479Cholamandalam9,017Shriram City8,539Bajaj Finance8,066SREI infra7,842Manappuram Finance7,577Magma Fincorp5,130First Leasing1,297
- 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%.
thanks for the useful information
ReplyDeletenyc work sir...................
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