Latest news with #AnuprekshaJain
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Business Standard
23-05-2025
- Business
- Business Standard
Banks, NBFCs shift focus away from unsecured loans to loan against property
As stress continues to linger in the unsecured segment of retail lending, LAP has emerged as an attractive avenue for banks and NBFCs besides gold loans Anupreksha Jain Mumbai Listen to This Article Amid rising stress in unsecured lending, banks and non-banking financial companies(NBFCs) are turning towards loan against property, a secured lending retail product. Further, with a rising push towards lending to the micro, medium and small enterprises (MSME) sector, the loans against property (LAP) portfolio has seen a significant growth as loans to MSMEs are also classified under the LAP portfolio. According to a recent CareEdge report, the MSME LAP market has grown over 50 per cent, from Rs 7.5 trillion to Rs 11.3 trillion over the past two years. Within this, the micro-LAP rose by 60 per cent to Rs
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Business Standard
13-05-2025
- Business
- Business Standard
Canara, Union Bank announce special deposit schemes to boost growth
Amid muted deposit growth, Canara and Union Bank launch targeted deposit products offering higher interest, health insurance, and personalised support services Anupreksha Jain Mumbai State-owned Canara Bank and Union Bank of India on Tuesday announced special products to boost resource mobilisation. Under its new scheme, Union Bank will offer 6.75 per cent interest on deposits with a tenure of 375 days, for a minimum deposit of ₹10 lakh and up to ₹3 crore. The scheme includes a 375-day Super Top-up Health Insurance cover, offering a sum insured of ₹5 lakh with cashless hospitalisation facilities. Bengaluru-based Canara Bank launched Canara TruEdge, a current and savings account product designed to enhance customer segmentation and provide solutions tailored to specific operational and financial needs, the lender said. The product offers a flexible benefit system, such as charge waivers and concessions, linked to the previous month's Monthly Average Balance (MAB). The move comes as deposit growth has slowed — falling to 10.3 per cent in FY25 from 13.5 per cent in FY24. Most public sector banks have projected deposit growth of 9–11 per cent for the current financial year. Bankers said deposit mobilisation continues to remain a challenge, prompting institutions to launch special schemes. Additionally, Canara Bank's TruEdge focuses on providing personalised and dedicated support through a designated relationship manager, acting as a single point of contact for all banking requirements. Similarly, Union Bank's special scheme aims to attract more deposits by offering wealth creation and health protection benefits on a single platform. 'The Union Wellness Deposit is strategically crafted to promote both wealth creation and health protection by seamlessly integrating health insurance with a term deposit product. Additionally, it offers a range of lifestyle benefits through the RuPay Select Debit Card,' the bank said in a statement. The scheme is available to resident individuals aged between 18 and 75, either individually or jointly. For joint accounts, only the primary account holder is eligible for the insurance coverage. It offers a minimum deposit amount of ₹10 lakh and a maximum of ₹3 crore, with provisions for premature closure and loans against the deposit. The scheme has a fixed tenure of 375 days and offers an attractive interest rate of 6.75 per cent per annum, with an additional 0.50 per cent interest for senior citizens. 'Deposit growth is still muted; hence, products that offer multiple benefits serve best to mobilise deposits. Plus, it also targets senior citizens, who are currently among the most important customer segments,' said a banker.
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Business Standard
06-05-2025
- Business
- Business Standard
Extended call money trading hours to address liquidity mismatch: RBI paper
The RBI has proposed extending call money trading hours to 7 PM from 5 PM to better align liquidity with 24x7 payment systems and address mismatches in fund flows Anupreksha Jain Mumbai Listen to This Article The Reserve Bank of India's (RBI's) proposal to extend the trading hours of the call-money market to 7 pm from 5 pm is aimed at having enough liquidity to serve the operational needs of real-time payments systems of banks, according to market participants. The call-money market is a short-term market where financial institutions borrow from one another. There have been instances when banks borrowed heavily from the RBI's liquidity adjustment facility (LAF) and had to park excess funds with the standing deposit facility (SDF) at a lower rate due to a liquidity mismatch. 'We have been asking for extended hours.
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Business Standard
28-04-2025
- Business
- Business Standard
Micro lenders fret over Tamil Nadu Bill to prevent coercive recovery
The microfinance players, banks and non-banking finance companies said the checks and balances proposed in the bill are likely to hinder micro lending operations Anupreksha Jain Mumbai Listen to This Article The microfinance industry, already facing multiple headwinds, is now bracing for another disruption with the Tamil Nadu government introducing a Bill to prevent coercive loan recovery practices. Microfinance players, including banks and non-banking financial companies, said that the checks and balances proposed in the Bill are likely to hinder micro-lending operations. 'It is not a conducive environment to work which puts so many checks and balances,' said a senior executive of a small finance bank. 'As per the Bill, we cannot go for regular collection as we don't know what can constitute harassment and can land us in jails. Plus,
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Business Standard
24-04-2025
- Business
- Business Standard
TMB to continue growing gold loan business in FY26, says MD & CEO Nair
The bank's total gold loan portfolio as of March 31 is a little over Rs 18,000 crore Anupreksha Jain Mumbai Listen to This Article Tamilnad Mercantile Bank will continue to grow its gold loan portfolio in FY26, Salee Sukumaran Nair, managing director and chief executive officer, said, while adding that the focus will also be on growing its retail and micro, small and medium enterprises (MSME) books. The bank's total gold loan portfolio as of March 31 is a little over Rs 18,000 crore. Nair said that the bank is well equipped in terms of handling gold loans, hence the impact of the Reserve Bank of India's draft guidelines on gold loans will be limited. 'In fact, we are looking to bring
