The proposed scheme of amalgamation envisages merger of both the transferor companies with and into transferee company HDFC Capital Advisors and the dissolution of the transferor companies without being wound up.

The Reserve Bank of India (RBI) had imposed several restrictions, including on withdrawals, by depositors of 17 cooperative banks in July in view of their deteriorating financial positions. Of the 17 cooperative banks, eight are in Maharashtra, four in Uttar Pradesh, two in Karnataka, and one each in New Delhi, Andhra Pradesh and West Bengal.

Last week a discussion paper put out by the Reserve Bank of India sought suggestions on whether charges should be levied on transactions through UPI and other payment systems and interchange fees on cards.

Bajaj Housing Finance hiked its rate by 0.50 per cent, and the lowest priced product for the salaried and professional applicants will be 7.70 per cent now, as per an official statement. Despite the latest hike, the company claimed to be offering loans at competitive rates compared to most of its peers.

The report said that "we have a game changing 5 years ahead of us as the financial services landscape is expected to have many strong actors on the stage, like large Incumbents, niche as well as diversified non-banks, new-age and mature fintechs, aggregators and Financial Service Providers". It, however, mentioned that "more than 70 per cent of respondents believe most Fintechs may not be profitable in the next 2-3 years. While scale is an important driver of profitability, early stage focus on 'unit economics' is a critical orientation needed".

The growth in volumes reflects a 1.9 times increase when compared to Rs 17,200 crore of securitised assets in Q1 FY22 and a 4.4 times increase compared to Rs 7,500 crore in Q1 FY2021, the report said.

The insolvency regulator has asked all the RPs to disclose their financial relationship with various stakeholders such as the corporate debtors, financial creditors and potential buyers involved in a resolution process. Market participants say the move is aimed at curbing potential misconduct by RPs. In the recent past, several cases have come to light wherein the resolution professionals have allegedly favoured a particular party during the resolution process.

In a circular, the corporation said if the customer has already given consent to share the location initially while availing of the services and subsequently wants to revoke the consent, the provisions for the same must be available without any denial.

The collaboration will also allow RBL Bank to mitigate credit risks by leveraging IMGC’s expertise. One of the essential advantages is double authentication, as IMGC will also validate each loan before sanction, ensuring high quality of portfolios for RBL Bank. “The teams have collaborated to develop an enabling proposition,” said Mahesh Misra, CEO, IMGC. “This shall expand product offering and also mitigate risk.”