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EVERGREEN LOANS IN MICROFINANCE
IndusInd Bank faces fresh whistleblower allegationsThe new complaint alleges insider trading by Samir Agarwal, former zonal head of eastern India at IndusInd Bank, manipulation of financial ...- IndusInd Bank shares fall 3% after fresh whistleblower complaint reaches PMO, RBIIndusInd Bank shares fell on Wednesday after a fresh whistleblower complaint was sent to the Prime Minister’s Office, RBI, and other regula...
- CreditAccess India eyes new investors, says Deputy ChairmanCreditAccess India, owner of CreditAccess Grameen, is seeking new investors. This move aims to provide liquidity for existing shareholders ...
- RBI's microfinance move: Tightening the reins while easing the credit squeezeRBI has relaxed risk weights in banks' microfinance lending, indicating confidence in the effectiveness of earlier restrictions. With non-p...
- Make microlending reg activity-basedMicrofinance lending is experiencing stress due to regulatory changes aimed at curbing over-lending. Relaxed rules in 2022 fueled a surge i...
- MFI stress now evident: RBI's small-loan fears turning realThe microfinance sector in India is witnessing a surge in bad loans, reaching an 18-month high of 11.6% in the September quarter. This rais...
- Indian banks' microfinance loan stress to persist after new, informal regulation, bankers sayIndian lenders are bracing for a surge in microfinance loan defaults after the central bank tightened lending rules. The Reserve Bank of In...
- RBI bans four finance companies from sanctioning and disbursing new loansThe Reserve Bank of India has banned four finance companies, including Navi Finserv and DMI Finance, from issuing new loans due to excessiv...
- EY to audit 51 lakh microfinance accounts of Bandhan BankBandhan Bank managing director Chandra Shekhar Ghosh has denied about any irregularity in those accounts and evergreening of loans. "The au...
- Spandana Sphoorty's founder and former MD Padmaja Reddy moves courtSpandana called a board meeting on March 18 and announced the appointments of Saxena as MD and Ashish Damani as chief financial officer for...
- Hit from BFIL lapses likely to be Rs 13.5 cr, says IndusIndThe bank's stock rose more than 4% in Wednesday's trade ending at ₹875.45 a share. The matter relates to allegations of disbursal of micro ...
- IndusInd Bank's internal investigation hints at procedural lapses by Bharat Financial InclusionDeloitte India, which is doing an external review on the matter, is likely to submit its report in a week’s time, two people familiar with ...
- IndusInd Bank sheds 3% as MD admits to procedural lapses in MFI lendingEarlier in the quarter, the bank faced allegations of loan ever-greening in the microfinance business it carries out through Bharat Financi...
- What triggered 50% jump in IndusInd Bank's Q3 profitsThe bank expanded loans 10% to Rs 2.29 lakh crore as it extended credit to companies and individuals with the local economy reopening shrug...
- IndusInd won't release unit's executives Spandana says it's hiringSpandana Sphoorty had announced it was hiring Shalabh Saxena as managing director and chief executive, and Ashish Damani as chief financial...
- IndusInd Bank, Spandana Sphoorty spar over top management appointmentsIndusInd said the announcement regarding the hire of CEO wasn't correct because Shalabh Saxena hasn't yet resigned from Bharat Financial In...
- Tech glitch led to disbursal of loans sans customer consent: IndusInd BankIn multiple emails to the Reserve Bank of India (RBI) and the IndusInd board in October, a whistleblower group comprising officials of the ...
- Indusind Bank says whistleblower claims baseless; gave 84,000 loans sans client consent in MayAt the end of September, 26,073 of these 84,000 clients were active with the loan outstanding at Rs 34 crore, which is 0.12 per cent of the...
- Whistleblowers raise loan evergreening issue at IndusInd armThese alleged transactions to dress-up the books have damaged the micro-lending business built over the years and could even trigger politi...
- Banks to ensure MFIs cap interest on lendings at 24%The government has asked banks to ensure that micro finance institution they lend to, do not charge beyond 24% interest from final borrower...
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