Hela February 15, 2019

Competition from large, established technology companies (BigTech) and financial technology (FinTech) could put pressure on the profitability of financial institutions and lead them to take on more risks to protect their margins.  As part of its ongoing monitoring of BigTech and FinTech influence on financial institutions, the Financial Stability Board (FSB),  today published “FinTech and market structure […]

Hela February 15, 2019

The 10th Microfinance Conference of the University of Cape Coast (UCC) opened yesterday with a call on financial and educational institutions to educate the public on financial literacy to prevent them from falling prey to Ponzi schemes and making huge financial losses. The Central Regional Minister, Mr Kwamena Duncan, who made the call, stressed the […]

Hela February 15, 2019

With surging deposit base and ever-rising profits, Bandhan Bank is now facing the problem of plenty for its capital deployment. At a time when most of the top-rung scheduled commercial banks are either waiting for the government to infuse capital or are burdened with dud loans, Bandhan is witnessing a surge in deposits which grew […]

Hela February 15, 2019

Tata Trusts Chairman Ratan Tata and Assam`s Finance Minister Himanta Biswa Sarma on Sunday launched the first 28 branches of the North East Small Finance Bank (NESFB), the region`s first small bank. “If India has to grow as a prosperous place, we need to create opportunities and entrepreneurship,” Tata said at the function here. The […]

Hela February 15, 2019

The recent devastation in Kerala has posed a new challenge to the microfinance sector, particularly the niche institutions that are concentrated in select geographies. Natural calamities in southern states like severe floods in Tamil Nadu in 2015 and now in Kerala have dealt a body blow to the sector which was hit the hardest during […]

Hela February 15, 2019

Non-banking finance company Manappuram Finance Ltd Wednesday has posted a 42.15 per cent rise in its profit after tax for the third quarter ending December 31, 2018 at Rs 244.11 crore. The company had recorded Rs 171.73 crore during the same period of last year. Income from operations for the October-December 2018 quarter grew by […]

Hela February 15, 2019

CBIC Chairman Pranab Kumar Das, who assumed charge last month, said with compliance going up and tax net widening, it won’t be difficult to meet the revenue targets. GST revenue shortfall drags down tax revenue estimates (Representational Image)  |  Photo Credit: Thinkstock New Delhi: Shortfall in GST revenue of an estimated Rs 1 lakh crore has forced […]

Hela February 15, 2019

Apple is one of several American technology giants in the line of fire in Europe over their tax strategies, which see them route their income through low-tax nations such as Ireland or Luxembourg. Apple agrees 500-million-euro tax settlement with France  |  Photo Credit: Indiatimes Apple said Tuesday it had reached an agreement with French authorities to […]