India-focused offshore funds and ETFs (exchange-traded funds) recorded the fourth straight quarter of net inflows in the April-June 2023 period, according to the Morningstar Offshore Fund Spy report.Before the September 2022 quarter, these funds had seen 17 consecutive quarters of net outflows. An offshore India fund is one that is not domiciled in India but […]
Day: September 28, 2023
Federal Bank seeks nominal fee on certain UPI transactionsFederal Bank seeks nominal fee on certain UPI transactions
Banks are investing heavily in technology to enable a seamless user experience on Unified Payments Interface (UPI) products, and the Centre must consider levying a nominal fee on certain UPI transactions so that lenders can have some direct income from these low-ticket transactions, Federal Bank executive director Shalini Warrier told FE. “We are grateful for […]
Banks’ share in micro loans falls further in Q1: ReportBanks’ share in micro loans falls further in Q1: Report
The market share of banks in the microfinance segment declined further to nearly 32% in April-June, from 38.4% a year ago, as non-bank lenders witnessed a sharp rise in disbursements, a report from Sa-Dhan said on Monday. The market share of banks in this segment stood at 34.1% in the March quarter. This data come […]