"This follows significant clean-up of books by banks in recent years, as well as strengthened risk management and underwriting, which has led to higher preference for borrowers with better credit profiles. The steady improvement in corporate asset quality is clearly manifested in key indicators such as the credit quality of bank exposures," Assocham Secretary General Deepak Sood said.
The iMuthoot application enables the customers to have a ‘Do It Yourself Model’ where any user can quickly submit the application and complete the NPS registration all by themselves. Launched in 2012, Muthoot Finance is an authorized NPS service provider by the Pension Fund Regulatory and Development Authority (PFRDA).
Bank of Baroda has also simplified the process of applying for a Home Loan. Customers can digitally apply for and get approval for a home loan within 30-minutes* by logging in to the bob World mobile banking app or visiting the Bank's website.
"We have taken immediate steps to secure the service provider's system to prevent any further unauthorized access," HDB said in an emailed statement. The company did not immediately respond to a Reuters request for comment on the nature of the data breach and how many customers were affected.
The company -- backed by VCs like Info Edge Ventures, Leo Capital, and Saison Capital -- said that over 100 corporate partners have partnered with OneBanc to improve compliance standards, increase employee engagement, and increase productivity.
"Many categories have been digitised which has resulted in increased spends from existing customers using their credit cards," said Rama Mohan Rao Amara, MD & CEO, SBI Card.
Unless banks and other payment system operators raise the capacity, best customer experience may not be realised, he said.The RBI has been giving a big push to digitisation and is on a mission to take the Indian model globally. It has already facilitated payments through the UPI interface with Singapore.
According to an analysis by credit data company Crif Highmark, the debt portfolio is led by property loans which rose 26 per cent on-year to Rs 7,88,827 crore or 29 per cent of the outstanding, and gold loans soared by 64 per cent to Rs 7,06,047 crore, or 42 per cent of the total, indicating the rising level of financial stress households are facing.
Since the launch of the UPI-Paynear collaboration 10 days ago, 120 inbound transactions from and 22 outbound transactions to Singapore have been processed, while in-bound UPI transactions have seen 30 users from 10 countries being on-boarded with 77 merchant payments made, Das told reporters here announcing the RBI's Digital Payments Awareness Week.