Digital lending is rapidly changing how we access credit. Technology has expanded the reach of lenders to even the remotest corners of the country. As per estimates in a report by EY and the Digital Lenders Association of India (DLAI), digital lending disbursements stood at about â‚ą21.6 trillion in FY22, it is expected to more…
Private lending major HDFC Bank has increased its Marginal Cost of Funds-based Lending Rate (MCLR) for the overnight tenure by 5 bps from 9.15 per cent to 9.20 per cent. This is effective from February 7, 2025, according to the bank’s website. Rates for all other tenures are unchanged. Overall, HDFC Bank’s MCLR is from…
They could be even bigger drivers of growth and jobs if their large and persistent credit gap of over 60% could be bridged. This gap stems from multiple challenges across the MSME lifecycle. The underwriting scorecards for most financial institutions are built on limited data sources. For example, they do not fully leverage information about…
Finance minister Nirmala Sitharaman on Saturday urged banks to return to their core focus of deposit mobilization and lending, emphasizing the need to balance these two critical elements of the banking business. Addressing the media after attending the 609th meeting of the Reserve Bank of India’s central board of directors, Sitharaman likened deposits and lending…
