- + RBI imposes monetary penalties on IndusInd Bank, Mannapuram Finance for violation of regulatory norms—IndusInd Bank opened certain savings deposit accounts in the name of ineligible entities [Category: Money & Banking]
- + External MPC members call for rate cut flagging faltering growth, rising inflation—Former RBI Governor Shaktikanta Das, however, batted for keeping repo rate unchanged, saying progress made towards disinflation till now must be prese...
- + RBI holds 612th central board of directors meeting under chairmanship of Sanjay Malhotra—Board reviews global and domestic economic situation and outlook [Category: Money & Banking]
- + As 2025 approaches, the insurance industry stands at a transformative crossroads—Without meticulous oversight, there’s a looming risk of market imbalance and monopolistic tendencies [Category: Money & Banking]
- + Insurance industry is agile in adopting new reforms: Tarun Chugh —In 2024,the industry cloced a strong growth of 16 per cent in Individual Rated New Business [Category: Money & Banking]
- + SEBI caps NFO fund raise based on MFs ability to deploy — [Category: Money & Banking]
- + ICICI Bank and Times Internet unveil premium metal credit card—Cardholders will receive significant perks including unlimited lounge access at over 1,300 global airports, visa services at home, and entry to ‘The Q...
- + US interest rate hike not on the horizon, says Jerome Powell—Powell emphasised that while the current rate of 4.3% is considered “meaningfully restrictive,” it is a well-balanced level that allows for progress o...
- + Powell on Trump’s economic plans: “Premature to draw conclusions”—Powell highlighted the ambiguity surrounding tariffs, including which goods may be affected and their potential duration [Category: Money & Bankin...
- + Jerome Powell: Federal Reserve has no interest in Bitcoin ownership—Powell stated that the legal framework governing Bitcoin ownership is a matter for Congress but emphasised that the Fed is not seeking any changes to ...
- + Fed lowers rates by 25 basis points, signals just two cuts in 2025—The shift in language from the Fed signals that officials are being more cautious about the pace of future cuts, taking into account various economic ...
- + Fed lowers rates by 0.25%, signals just two cuts in 2025—The shift in language from the Fed signals that officials are being more cautious about the pace of future cuts, taking into account various economic ...
- + Punjab & Sind Bank raises ₹3,000 crore via infra bonds at 7.74%—The bonds are unsecured, subordinated, redeemable, non-convertible, and taxable debentures with a face value of ₹1 lakh each [Category: Money & Ba...
- + Credit-deposit growth convergence observed amid higher base effect and RBI measures—Credit offtake, at ₹175.1 lakh crore, grew by 10.6%, down from last year’s 20.6%, while deposits expanded to ₹220.2 lakh crore, marking a 10.7% YoY in...
- + Bank of Baroda approves ₹10,000 crore bond issuance for infrastructure and affordable housing—This initiative will take place in single or multiple tranches during the fiscal year 2025 and may extend beyond that based on feasibility assessments...
- + Rupee down 6 paise to close at 84.95—Indian Rupee weakens towards 85 per USD, influenced by various factors including importers’ rush to buy Dollars and trade deficit [Category: Forex]
- + GST rates on insurance: Group of Ministers submits report, Council to consider proposals on Saturday—Among the recommendations are GST exemption for pure term life insurance policies that cover family members, exemption on health insurance for senior ...
- + GST rates on insurance: Group of Ministers submits report, Council to consider proposals on Saturday—Earlier, a proposal for rationalising GST on insurance premium was supported by the Financial Services Department and the Insurance Regulatory and Dev...
- + Financial sector in crosshairs: 85% of DDoS attacks target Indian financial sector—India is among the top three countries in terms of the number of dark web ads related to leaked and stolen databases [Category: Info-tech]
- + RBI removes business curbs on ECL Finance and Edelweiss ARC following remedial actions—Earlier this year, the RBI had barred ECL Finance from undertaking structured wholesale transactions and restricted Edelweiss ARC from acquiring new f...
- + Delhi and Bengaluru lead in India’s crypto investments as Bitcoin crosses $100,000 in 2024—The report further highlights that over 36 per cent of India’s crypto investments were concentrated in the three largest metros -- Delhi, Bengaluru, a...
- + ICRA may revise FY25 credit growth forecast to 10.5-11%—Though the past two years have seen a sharp growth in the banking sector, there could be a slowdown in credit going ahead. ICRA’s Karthik Srinivasan o...
- + Likely to further revise our credit growth expectations for FY25 possibly closer to 10.5-11 per cent: ICRA —Though the past two years have seen a sharp growth in the banking sector, there could be a slowdown in credit going ahead. ICRA’s Karthik Srinivasan o...
- + JAM Trinity used to the hilt by banks for expanding the reach —As on December 4, banks had collectively opened 54.13 crore (this is equivalent to the entire population of Myanmar) Jan Dhan accounts, which had outs...
- + Rupee slumps to record low of 84.93/USD in intraday trading—DBS Bank Research sees scope for further rupee slippage over the next 3 months and 12 months horizon, beyond 86/dollar [Category: Forex]
- + PSBs step up hiring; SBI announces mega recruitment drive for 13,735 clerks—Expansion, retirements and attrition driving higher hiring [Category: Money & Banking]
- + Public sector banks step up hiring —Expansion, retirements and attrition driving higher hiring [Category: Money & Banking]
- + Bajaj Allianz launches innovative motor insurance add-ons for enhanced coverage—The Eco Assure add-on allows cost-effective vehicle repairs without deductibles, using sustainably restored or new parts, along with a one-year repair...
- + Rupee hits all-time low of 84.86 against dollar—Dragged by widening trade deficit and weak Chinese yuan [Category: Forex]
- + Paytm offers festival travel discounts to boost holiday mobility —The campaign includes attractive incentives for different travel modes [Category: Stocks]
- + Public sector banks record net profit of ₹85,520 crore in first half FY2024-25—Driven by improved asset quality, enhanced credit monitoring and increased efficiencyThey are now a resurgent force to support sustained economic grow...
- + Public sector banks eye common online platform for giving loans to start-ups—This move comes as the government seeks to support entrepreneurship, build a robust start-up ecosystem and transform India into a country of job creat...
- + SBI Life Insurance sees shift towards non-linked products amid equity volatility, says MD & CEO Amit Jhingran—We always work on customer insights, we have a good marketing and research function that is always in touch with the customers, says Amit Jhingran [Ca...
- + Standard Chartered Bank, India, launches “FEMA Centre of Excellence”—To help clients navigate and comply with the dynamic regulatory environment and enhance efficiencies. [Category: Money & Banking]
- + 30-year sovereign green bond auction sails through— Bids amounting to about ₹15,160 cr received against notified ₹5,000 cr [Category: Money & Banking]
- + Drip Capital develops data-driven credit assessment tool for MSMEs—Non-traditional credit assessment tools powered by data and technology are changing the game for MSME exporters, unlocking doors that were once firmly...
- + RBI receives bomb threat in Russian language, probe underway—Police have registered a case against an unknown accused in connection with the bomb threat and started an investigation [Category: Money & Bankin...
- + Satin Creditcare Network bags award for driving financial inclusion—The company was honoured for making microfinance inclusive and creating a lasting impact on millions of households [Category: Money & Banking]
- + State Bank of India is riding a good asset quality cycle, says Chairman Setty—SBI has segregated depositors into three categories – promoters, stagnators and attritors – to give focussed attention to each one of them so that dep...
- + FM Sitharaman counters LoP Rahul Gandhi on situation in Public Sector Banks—Earlier, Gandhi had alleged that Public Sector Banks were designed to give every Indian access to credit, but the Modi government has turned them into...
- + Liquidity in the banking system gradually tightening—Higher bids at VRR auction indicate gradual tightness in liquidity [Category: Money & Banking]
- + Banking system’s credit growth in Oct 2024 moderated due to higher base effect, RBI measures on risk weights: CARE Ratings —The credit offtake in October 2024 was driven by industry (large and MSMEs), gold loans, and mortgages, partially offset by lower growth in NBFCs and ...
- + SBI chief urges pension funds, insurers, MFs to boost corporate bond market liquidity—Time to strategise on deepening corporate bonds markets; pension funds, insurers and MFs sticking to AAA bonds, rues SBI Chairman Setty [Category: Eco...
- + RBI has huge responsibility in ensuring India’s growth continues, says Governor—India’s real GDP growth slumped to a seven-quarter low of 5.4 per cent in Q2FY25 [Category: Money & Banking]
- + UGRO Capital receives patent for its proprietary credit scoring model —The MSME-lending focussed non-banking finance company (NBFC) received patent for “Method and System for Modelling Credit Scorecards” [Category: Money ...
- + ICICI Bank partners with Commonwealth Bank of Australia to strengthen Australia-India trade—The partnership will offer banking services to customers looking to set up businesses in each other’s markets and provide migration support [Category:...
- + Avanti Finance secures ₹120 crore funding to expand loan book— Avanti Finance focuses on small-ticket loans for micro-enterprises and working capital needs [Category: Money & Banking]
- + Sanjay Malhotra takes charge as RBI's 26th Governor—Former revenue secretary Malhotra replaces Shaktikanta Das, who demitted office on Tuesday after a six years stint [Category: Money & Banking]
- + Sahamati CEO: AA Framework could onboard 10,000 regulated entities—AAs process 3 lakh consents daily, enabling monthly loan disbursements of over ₹8,000 crore [Category: Money & Banking]
- + Life Insurance industry posts 15.67 per cent growth in new business premiums at ₹2.42 lakh crore—LIC leads with a 16.08% per cent rise, while private insurers see a 15.09% per cent uptick during April-November 2024, Life Insurance Council data rev...
- + Karnataka Bank launches ‘Retail Assets Centre’ in Bengaluru—The RAC will cater to all channel partners by offering them easier access and interface to submit applications, faster processing times, ability to tr...
- + RBI Governor Shaktikanta Das emphasises on restoring inflation-growth balance—Heightened geopolitical uncertainties and financial market volatility pose upside risks to inflation, says outgoing RBI Governor [Category: Money &...
- + Public sector banks’ write-offs touched ₹7 lakh cr in FY20-FY25—PSBs recovered over ₹5 lakh crore of NPA [Category: Money & Banking]
- + Star Health says no financial impact or customer loss due to data breach; FY25 growth on track—Announces the full market debut of its new retail health policy ‘Super Star’ [Category: Money & Banking]
- + Disallow customers who attack bank branch staff from opening accounts for 3 years: AIBEA —Accordingly, the bank union has asked the IBA to issue a detailed SOP to branches to deal with such violent acts, allow branches to immediately FIR up...
- + Who is RBI Governor-designate Sanjay Malhotra?—Sanjay Malhotra is known for his consensus-building approach and pivotal role in implementing the new income tax regime [Category: Money & Banking...
- + Will work to understand all perspectives, do what's best for economy: RBI Guv-designate— [Category: Money & Banking]
- + Analysts expect smooth transition in RBI leadership, anticipate rate cut in February—The government on Monday appointed Revenue Secretary Sanjay Malhotra as the new RBI Governor for a period of three years [Category: Money & Bankin...
- + ACRE apologises to IIFL Finance directors —Mahesh Mimani, President of Recovery & Resolution at IIFL Finance, refrained from discussing the arbitration proceedings but voiced concerns over ...
- + Sanjay Malhotra RBI Governor Press Conference Live: Sanjay Malhotra addresses media after taking charge as RBI’s 26th Governor—RBI New Governor News Updates: Sanjay Malhotra addresses the media after taking charge as the 26th Governor of the RBI. This is his first address to t...
- + Sanjay Malhotra RBI Governor Press Conference Live: New RBI Governor to address media at 3 pm today, stay tuned in—RBI New Governor News Updates: Sanjay Malhotra, the new RBI Governor is set to address the media at 3 pm on Wednesday. This will be his first address ...
- + RBI New Governor Live News: Will work to understand all perspectives, do what is best for the economy, says Governor-designate Malhotra—RBI New Governor News Updates: The Government has appointed Sanjay Malhotra, Revenue Secretary and a 1990-batch IAS officer, as the new Governor of th...
- + RBI New Governor Live News: Sanjay Malhotra to be new RBI Governor, will replace Shaktikanta Das—RBI New Governor News Updates: The Government has appointed Sanjay Malhotra, Revenue Secretary and a 1990-batch IAS officer, as the new Governor of th...
- + Shaktikanta Das’ successful six-year innings as RBI Governor comes to an end —Under his leadership, RBI ensured that the financial markets did not freeze up, financial intermediaries functioned normally [Category: Money & Ba...
- + Shaktikanta Das’ successful six-year innings as RBI Governor come to an end —Under his leadership, RBI ensured that the financial markets did not freeze up, financial intermediaries functioned normally [Category: Money & Ba...
- + Banks on a drive to augment CASA deposits, lend special focus on tapping new current accounts—For SBI, CASA accounts grew at 4.24 per cent in the second quarter of the current financial year [Category: Money & Banking]
- + Sanjay Malhotra to replace Shaktikanta Das as RBI Governor—Appointment to take effect on December 11 [Category: Money & Banking]
- + New RBI Governor: Sanjay Malhotra to replace Shaktikanta Das —Appointment to take effect on December 11 [Category: Money & Banking]
- + Deutsche Bank AG, India, provides € 91 million sustainability-linked-loan to SMFG India Credit—The loan will not only help expand SMICC’s portfolio and enable channeling funds toward MSMEs but also empower women entrepreneurs in underserved segm...
- + GIFT IFSC may become hub for private credit funds—The private credit opportunity is large and GIFT City is the ideal place for aggregating international capital, which is why more funds are setting up...
- + NBFCs raise funds via ECB route as banks tighten loan pipeline—Top rated NBFCs asked to maintain at least 25 per cent of overall liabilities via capital market route [Category: Money & Banking]
- + Consumer sentiments down, says RBI survey—The current situation index (CSI) moderated by 0.7 points to 94.0 in November 2024 [Category: Money & Banking]
- + Parliamentary panel advocates automated compensation process for banking fraud victims—Present system, as prescribed through RBI circular dated July 6, 2017, there are two conditions when a customer has zero liability in case of unauthor...
- + SBI Research anticipates RBI repo rate cut in February policy meet—SBI Research believes that GDP growth for 2024-25 will be lower than the RBI's estimate and it pegged the GDP growth at 6.3 per cent for 2024-25 [Cate...
- + RBI introduces podcast as tool for wider dissemination of useful information—RBI Governor Shaktikanta Das said that podcasts will help explain things simply among the wider section of the society [Category: Money & Banking]
- + Bitcoin’s tale of success sans substance—Over 15 years since introduction, it is still unclear whether the crypto asset is a currency/store of value, payments innovation or the speculators’ n...
- + RBI calls for enforceable Code of Conduct for CoCs under IBC—IBBI needs enforcement powers to ensure stakeholder compliance under IBC: Deputy Governor Rao [Category: Money & Banking]
- + Goldman decides to leave world’s top climate alliance for banks—Goldman said in a statement on Friday that it’s “very focused on the increasingly elevated sustainability standards and reporting requirements imposed...
- + $350 million ADB loan approved to enhance India logistics and exports—This transformation is expected to not only reduce costs and improve efficiency, but also create employment opportunities and promote gender inclusion...
- + CRR cut by RBI expected to provide support to Net Interest Margins of banks: Report—The report highlighted that this move would help improve liquidity conditions while also supporting the broader economic growth agenda [Category: Mone...
- + FinMin presses banks to tackle mule accounts with greater vigilance—DFS Secretary Nagaraju chairs high powered meeting with PSBs, Private Banks and Payment Banks [Category: Economy]
- + Banks get ₹1.16-lakh-cr liquidity injection via 50 bps CRR reduction—Move aimed at alleviating potential liquidity stress in the banking system due to tax outflows, increase in currency in circulation and volatility in ...
- + RBI gives Banks ₹1.16 lakh cr liquidity injection via 50 bps CRR cut—Move aimed at alleviating potential liquidity stress in the banking system due to tax outflows, increase in currency in circulation and volatility in ...
- + CRR cut could reduce lenders’ cost of funds, say senior bankers —CRR cut positive for banks as their profits on mark-to-market portfolio will improve significantly [Category: Money & Banking]
- + Pàytm’s wholly-owned Singapore unit approves stake sale in Japan’s PayPay —Company confirms transaction post Indian stock exchanges query on the same [Category: Money & Banking]
- + Liquidity to remain tight over next few months: RBI Governor Das—RBI does not see systemic stress building in MFI sector, says Dy Governor Swaminathan [Category: Money & Banking]
- + RBI holds key rate ‘to bring down inflation in the interest of growth’—The RBI lowered its FY25 real GDP growth projection to 6.6% from the earlier projection of 7.2% [Category: Money & Banking]
- + No rate cut as MPC strives to restore balance between inflation and growth—The RBI lowered its FY25 real GDP growth projection to 6.6% from the earlier projection of 7.2% [Category: Money & Banking]
- + RBI proposes credit line access on UPI for Small Finance Banks—RBI to constitute a committee to develop a Framework for Responsible and Ethical Enablement of AI in the financial sector. [Category: Money & Bank...
- + RBI to deploy AI for hunting down mule accounts—The Reserve Bank is currently running a hackathon on the theme “Zero Financial Frauds” which includes a specific problem statement on mule accounts, t...
- + RBI to constitute a committee to develop ethical AI framework for financial services—The committee will comprise of experts from diverse fields and shall recommend a robust, comprehensive, and adaptable AI framework for the financial s...
- + RBI reduces CRR to 4% to ease anticipated liquidity stress—This reduction will release primary liquidity of about ₹ 1.16 lakh crore to the banking system [Category: Money & Banking]
- + RBI cuts Cash Reserve Ratio for banks from 4.5% to 4% to alleviate expected liquidity stress later this month—This reduction will release primary liquidity of about ₹ 1.16 lakh crore to the banking system [Category: Money & Banking]
- + RBI raises interest rate ceiling on FCNR(B) deposits to attract capital flows—Move comes in wake of India’s forex reserves dipping from all-time high of $704.89 in September to $656.582 billion in November [Category: Money &...
- + RBI cuts FY25 GDP growth projection from 7.2% to 6.6%; ups retail inflation projection to 4.8% from 4.5%—Taking all these factors into consideration, real GDP growth for 2024-25 is projected at 6.6 per cent (earlier projection: 7.2 per cent) with Q3 at 6....
- + MPC keeps repo rate unchanged at 6.50%; continues with neutral stance—Six-member MPC kept policy repo rate unchanged at 6.50% by majority of 4:2; high inflation and lower-than-expected economic growth spur decision [Cate...
- + RBI holds rates steady, market awaits liquidity steps—Investors are now on watch for any measures by central bank to ease liquidity deficit in the banking system, which could help bring down market intere...
- + RBI may ease policy Friday through liquidity if not rates, analysts say—‘Inflationary pressures may make the central bank reluctant to cut interest rates just yet’ [Category: Economy]
- + RBI approves Canara Bank’s stake divestment in asset management and insurance units—Following this, the bank is expected to initiate the IPO process. [Category: Markets]
- + NBFC-MFIs likely to see subdued disbursements and a sharp moderation in AUM growth to 0- 5% in FY25 —The sector’s profitability is expected to face significant headwinds in FY2025 due to rising credit costs, which is expected to be at 5.4-5.6 per cent...
- + AIBOA calls revised performance-linked incentive for senior PSU bank executives unfair to lower-rank officers—The revised scheme is also applicable to senior executives in the rank of Chief Manager and above [Category: Money & Banking]
- + Bitcoin breaks six digits; reaches $100,000 milestone —Industry experts note that as Bitcoin surpasses $100,000, the breakthrough will prompt institutions, companies and countries to take Bitcoin and crypt...
- + Moody’s Ratings changes global outlook for banks to stable from negative—The rating agency expects most G-20 economies to move from cyclical recovery to slower but sustainable rates of growth in 2025 amid monetary easing [C...
- + BL Explainer: How the amended Banking Laws impact you—In a key amendment, depositors can now nominate up to four individuals for their bank accounts or fixed deposits, enhancing customer convenience and a...
- + SBI Chief Setty wants branch staff to “ask for deposits” —This comes amid intense competition for savers’ money from relatively higher yielding investment alternatives, Combo deposit product in the works [Cat...
- + CII bats for 25 basis points Repo Rate Cut by RBI on Friday —CII also pitches for a host of liquidity enhancing measures [Category: Money & Banking]
- + Bitcoin tops $100,000 for first time on optimism over Trump’s pro-crypto plans—Bitcoin has more than doubled in value this year and is up about 45 per cent in the four weeks since Donald Trump's sweeping US election victory [Cate...
- + RBI MPC Meeting 2024 Highlights: RBI cuts CRR to 4%, repo rate unchanged at 6.5%—RBI MPC 2024 Highlights, RBI Monetary Policy Meeting Outcomes, RBI MPC Meeting December 2024 News & Highlights: Notwithstanding the second quarter...
- + RBI MPC Meeting Live Updates: RBI cuts CRR to 4%, repo rate unchanged at 6.5%—RBI MPC Meeting December 2024, RBI Monetary Policy Committee meeting live, RBI MPC 2024 live news & updates: Notwithstanding the second quarter (Q...
- + RBI MPC Meeting December 2024 Expectations Live: Will RBI announce rate cut tomorrow? —RBI MPC meeting December 2024, RBI Monetary Policy Committee Live, RBI MPC expectations live news & updates: Notwithstanding the second quarter (Q...
- + RBI MPC Meeting December 2024 Expectations Live: Will RBI announce rate cute tomorrow? —RBI MPC meeting December 2024, RBI Monetary Policy Committee Live, RBI MPC expectations live news & updates: Notwithstanding the second quarter (Q...
- + Climate change risks have started to impact financial system: RBI Deputy Governor Rao—It is essential to build capabilities to ensure correct assessment of these risks and put in place suitable adaptation and mitigation measures, he sai...
- + Foreign Banks expect liquidity easing measures by MPC on Friday—HSBC Global Research sees likely 50 basis points cut in CRR; first repo rate cut in February 2025 [Category: Money & Banking]
- + Yield of benchmark 10-year G-Sec plummets to three-year low, Rupee dips to record low—There are expectations that the RBI will announce measures to improve liquidity as it is likely to turn tight later this month due to GST and advance ...
- + RBI enhances limit for UPI Lite payments— [Category: Money & Banking]
- + India’s 10-year government bond yield softens on expectation of RBI’s liquidity enhancement measures—The yield of the widely traded 6.79 per cent 2034 G-Sec is currently trading lower at 6.6851 per cent [Category: Money & Banking]
- + PB Fintech Board approves new subsidiary float for healthcare services —The wholly owned subsidiary is proposed to be named “PB Healthcare Private Limited” or “PB Healthcare Services Private Limited” or any other name as m...
- + GDP growth slowdown is a blip, advances have grown well in Q3 so far: SBI Chief Setty —Barring some pockets such as personal loans, where the entire system is witnessing a slowdown, we have seen good growth on the credit side in agricult...
- + RBI's MPC meeting begins today, all eyes on central bank action on rising inflation—Chaired by RBI Governor Shaktikanta Das, the three-day meeting will run from December 4 to December 6, with the Governor announcing the policy decisio...
- + Half of SHGs, many farmers still lack formal credit links: RBI Deputy Governor—Swaminathan highlighted the importance of developing Potential Linked Credit Plans and district-level strategies to meet these underserved segments’ f...
- + CCI approves MUFG Bank’s stake buy in Shiprocket—Competition watchdog also approves subscription to optionally convertible debentures of GMR Infra Enterprises by ADIA-owned Platinum Stone A 2014 Trus...
- + Lok Sabha clears Banking Bill, to strengthen governance—Changes will enhance customer convenience, protection, says FM [Category: Economy]
- + LS passes Banking Laws (Amendment) Bill allowing 4 nominees in bank accounts—The bill proposes to increase the tenure of directors (excluding the chairman and whole-time director) in cooperative banks from 8 years to 10 years [...
- + No proposal under consideration for merger of Public Sector Banks, says Finance Ministry—The consolidation of PSBs played a crucial role in facilitating geographical diversification, penetrating new markets, and extending customer base [Ca...
- + Fidelity International elevates India head for global role—In his new role, Jetly will bring the Technology and Operations functions to work in tandem across the globe for Fidelity International’s GPS busines...
- + Trade finance fintech Modifi to invest more in Indian operations—As part of its strategy, Modifi will invest a significant portion of its recently raised $15 million Series C funding to fuel this growth, focusing on...
- + CoinDCX announces ₹50 crore R&D for Indian crypto custody solution—Announced at the Unfold 2024 Web3 event, Bharat Custody aims to enhance investor trust through a secure third-party custody service that aligns with l...
- + Finmin invites applications for PFRDA Chairman, two whole-time members posts—The current Chairperson, Deepak Mohanty, will retire in May 2025, paving the way for a new appointment [Category: Money & Banking]
- + Rupee weakens further—RBI is believed to have sold dollars to protect the crucial 84.50 level, but this level was breached as the USD gained strength against global currenc...
- + Rupee weakens further; currently trading at 84.7550/USD—RBI is believed to have sold dollars to protect the crucial 84.50 level, but this level was breached as the USD gained strength against global currenc...
- + Most of ₹2,000 banknotes returned; ₹6,839 crore worth notes still with public—The total value of ₹Rs 2,000 banknotes in circulation has declined to ₹Rs 6,839 crore at the close of business on November 29, 2024 [Category: Money &...
- + RBI removes lending restrictions on Navi Finserv —On October 17, the regulator had imposed restrictions on Navi Finserv and three other NBFCs for violation of lending norms [Category: Money & Bank...
- + RBI: 98.08% of ₹2,000 notes returned, ₹6,839 cr still in circulation—The withdrawal aims to align with the “Clean Note Policy,” following the goal of the ₹2,000 notes issuance, which is deemed achieved with adequate cir...
- + RBI urges banks to streamline activation of inoperative accounts—Banks are encouraged to implement smoother, hassle-free processes for activating these accounts, including enabling KYC updates through mobile/interne...
- + India exploring insurance coverage for Ayush treatment for foreign nationals —‘Ministry of Ayush is examining the proposal to explore the possibility of including Ayush insurance packages for people traveling to India for such t...
- + NBFCs’ AUM growth may slowdown to 15-17% in FY25, FY26: CRISIL Ratings —Asset quality metrics have been weakening over the past few quarters in some segments [Category: Money & Banking]
- + Customers parking more funds in term deposits in search of higher returns: SBI Research—Both deposits and credit may grow in the range of 11-12 per cent during FY25 [Category: Money & Banking]
- + NRC-LTO funds to Nabard: Its for central board of RBI to take a call, says Centre—Minister of State for Finance Pankaj Chaudhary reiterates Centre’s position on issue in letter to Amra Ram MP [Category: Money & Banking]
- + IPRU Edge leads to 37% rise in productivity of advisors—IPRU Edge, serves as an office on-the-go, enabling agents to focus on new customer acquisitions rather than administrative activities. Agents get acce...
- + ICICI Edge leads to 37% rise in productivity of advisors—IPRU Edge, serves as an office on-the-go, enabling agents to focus on new customer acquisitions rather than administrative activities. Agents get acce...
- + Data, AI, and customer-centricity: Navigating the redefinition of financial services in the digital era—What does it take to stay ahead in India’s competitive fintech industry? Devender Kumar, Chief Revenue Officer (CRO) at Angel One, sheds light on the ...
- + Karur Vysya Bank takes to “exit marking” loan a/cs showing weakness in a bid to cut its exposure —“We do not want to chase numbers... if we do not consolidate, but press the accelerator too far, it is bound to lead to accidents” say KVB chief B Ram...
- + Banks’ loans against gold jewellery shoot up 56% as focus shifts to secured loans—In comparison, unsecured loans such as consumer durable loans grew at 7% y-o-y in October as against 8% in same period last year, and credit card outs...
- + Banks’ loans against gold jewellery shoots up 56% as focus shifts to secured loans—In comparison, unsecured loans such as consumer durable loans grew at 7% y-o-y in October as against 8% in same period last year, and credit card outs...
- + Karur Vysya Bank opens 4 branches in Andhra Pradesh and Tamil Nadu—Karur Vysya Bank has reported a total business of ₹1,76,138 crore as on September 30, 2024. [Category: Money & Banking]
- + SBI launches nation-wide drive to re-activate inoperative a/cs, including PMJDY accounts—As at September-end 2024, SBI’s domestic deposits stood at ₹49,10,528 crore and total deposits, including domestic and foreign offices deposits, were ...
- + Foreign banks bet on RBI holding policy rates amid sluggish Q2 GDP growth—Post Q2 GDP numbers release, Barclays Research lowers India GDP growth forecast for FY25 to 6.5 per cent from 6.8 per cent earlier [Category: Money &a...
- + RBI devolves ₹3,497 crore of green bond auction on PDs due to limited investor interest—The cut-off yield at the auction was 6.79 per cent [Category: Money & Banking]
- + Stricter adherence to Sa-Dhan guidelines leads to better discipline in microfinance sector—The guidelines, which include capping exposure to households with loans above ₹2 lakh and enforcing stricter credit checks, have led to a significant ...
- + RBI to keep repo rate unchanged at meeting next week, chances of rate cut in February increased: Report—The weaker-than-expected GDP data has increased the chances of a rate cut in February, but RBI is expected to adopt a wait-and-watch approach in its u...
- + India plans to raise FDI limit to 100% in insurance, amend key provisions of 1938 Act—Public comments are invited until December 10. [Category: Money & Banking]
- + RBL Bank to stop issuance of co-branded credit cards with Bajaj Finance—Bank has issued 3.4 million co-branded credit cards in partnership with Bajaj Finance [Category: Money & Banking]
- + Non-food credit growth slows down in October 2024—Within the overall credit growth, the only sector that saw relatively higher y-o-y growth was industry. [Category: Money & Banking]
- + PFRDA eyes ₹15 lakh crore pension corpus by FY25, subscriber base to hit 12 lakh—As of November 2024, the total Assets Under Management in the National Pension System and Atal Pension Yojana is ₹13.4 lakh crore, with more than 7.9 ...
- + HDFC Bank’s SmartWealth achieves 3 lakh downloads—The app provides insights and analysis in real-time, allowing users to make informed choices [Category: Money & Banking]
- + Small-ticket loans, higher deposit limits can enhance payments bank viability: Fino PB MD—Fino Payments Bank had applied for a SFB license with the RBI in December last year [Category: Money & Banking]
- + Bank of Baroda raises ₹3,500 crore via Tier II capital bonds at 7.41%—The public sector bank received a total of 120 bids amounting to ₹9,500 crore [Category: Money & Banking]
- + Bank of Baroda raises ₹3,500 cr via Tier II capital bonds at 7.41%—The public sector bank received a total of 120 bids amounting to ₹9,500 crore [Category: Money & Banking]
- + FPI selling in domestic markets triggers ripple effect on bank deposits—Bank deposits down by ₹1.74 lakh crore in the fortnight ended Nov 15 [Category: Money & Banking]
- + LIC appeals GST demand of ₹104.90 crore for FY20—The order, issued by the Joint Commissioner in Chennai, also includes a demand for interest amounting to ₹45.53 lakh and a penalty of ₹11.03 crore [Ca...
- + RBI working towards creating data analytics ecosystem to support its supervisory functions, says Deputy Governor Swaminathan—RBI has designed a “Calibrated Supervisory Approach” to focus more effectively on high-risk institutions and practices, says Swaminathan [Category: M...
- + India needs to take a quantum leap in scale and size of its financial institutions, says RBI Dy Guv Rao—This will possibly expose the entities in the financial system and its users to increased amount of risk [Category: Money & Banking]
- + Deposit push: HDFC Bank launches ‘Pragati’ savings account for hinterlands—HDFC Bank’s overall deposits stood at ₹25 lakh crore in Q2FY25 [Category: Money & Banking]
- + Indiagold to apply for NBFC license in FY25, co-founder says—Aims to originate ₹7,000 crore of gold loans each year, hire 300 employees in FY26 [Category: Money & Banking]
- + Axis Bank IBU takes up three times bigger office space in GIFT City—Today our asset book in GIFT City is a little over $4 billion, which is among the largest in GIFT City, says Rajiv Anand, Deputy Managing Director, Ax...
- + SBI Funds Management appoints Nand Kishore as MD & CEO—Nand Kishore has over 34 years of experience working with SBI across major banking verticals [Category: Money & Banking]
- + South Indian Bank opens second mega currency chest in Kakkanad—The newly inaugurated currency chest cater to the bank’s branches within Ernakulam and other adjacent regions [Category: Money & Banking]
- + Credit-deposit growth gap narrows to 90 bps in September — [Category: Money & Banking]
- + Yes Bank plans to open 350-400 new branches in 3-5 years, says Executive Director Pental—Incremental branches will come up in large deposit centres of the country [Category: Money & Banking]
- + Yes Bank plans to open 350-400 new branches in 3-5 years, says Executive Director Pental —Incremental branches will come up in large deposit centres of the country [Category: Money & Banking]
- + RBI Governor Das discharged from hospital after health scare—Shaktikanta Das was kept under observation after he experienced acidity earlier today [Category: News]
- + IFCI to cease lending, transition to infrastructure advisory role—An infusion of ₹500 crore is planned to stabilise the IFCI’s finances, while the company will also focus on monetising its real estate assets [Categor...
- + RBI Governor Shaktikanta Das hospitalised for acidity, to be discharged shortly— He is doing fine now and will be discharged in 2-3 hours: RBI spokesperson [Category: Money & Banking]
- + RBI Deputy Governor red-flags diversion of funds by some MSMEs—It is important for them to use bank funds for the purpose they were borrowed for, RBI Deputy Governor Swaminathan J said [Category: Money & Banki...
- + GST on insurance premia fetched ₹52,000 cr in 5 years—States get over 70% of these collections [Category: Money & Banking]
- + Growth in credit card portfolio tapering down on account of concerns over delinquencies —As per RBI data, the growth in total outstanding portfolio under credit cards was lower at 18 per cent in the first half of the current financial year...
- + HDFC Life faces data breach, initiates investigation—Shares of the company ended trading 0.1 per cent higher at Rs ₹687.80 apiece on the BSE today [Category: Money & Banking]
- + MFIN further tightens underwriting norms as sector stress rises—Borrowers whose repayment are overdue for over 60 days will not be extended a fresh loan. [Category: Money & Banking]
- + What prompted RBI’s warning against errant gold lending practises?—Some entities were found to be rolling over gold loans using the same collateral deposited for the initial loan [Category: Money & Banking]
- + Muthoot Microfin starts co-lending loan disbursals with SBI—Under the collaboration, SBI has sanctioned a ₹500 crore limit to be disbursed in tranches of ₹100 crore [Category: Money & Banking]
- + ARCs to see recovery rates for stressed road projects rise to 65% in FY25: CRISIL—This improvement is attributed to faster project completion, increased toll revenues, and stabilised annuity payments from the National Highways Autho...
- + Paytm rolls out auto top-up feature for UPI LITE transactions —This feature is initially available to select users from Yes Bank and Axis Bank and enables automatic recharging of the UPI LITE balance when it dips ...
- + Bitcoin rally stalls just shy of historic $100,000 milestone—The digital asset fell as low as $95,776 on Sunday after coming within $300 of the six-figure milestone on Friday [Category: Crypto Currency]
- + Private sector banks evincing keen interest in selling loans exhibiting signs of incipient stress—This move will correct skewed credit-deposit (C-D) ratio and present a better picture on bad loans to investors [Category: Money & Banking]
- + PNB becomes a PCAF signatory, strengthening its commitment to climate responsibility—PNB joins an international network of financial institutions committed to addressing climate change through robust GHG accounting practices [Category:...
- + Growth for NBFC-MFI sector will either flatten or decline in FY25: Ind-Ra—Ind-Ra says loan growth could take a back seat for lenders, and focus would be on managing the asset quality cycle, leading to shrinking of loan book ...
- + Indian Rupee hits all-time low of 84.50 against Dollar—Indian Rupee plunged to a record low, pressured by continuous foreign outflows and renewed strength in dollar [Category: Forex]
- + Maintaining overall stability is a daunting challenge for countries of the Global South: RBI Governor Das—High-Level Policy Conference of Central Banks from the Global South: Dy Guv Patra says optimal level of communication remains the gold standard for a...
- + SBI introduces vehicle loan product for Uber’s fleet partners—This loan enables low-cost, tailored financing solutions as well as hassle free loan disbursement for Uber’s fleet partners, says SBI [Category: Money...
- + RBI’s FX interventions intended to ensure that the market is liquid and deep, and functioning in an orderly manner, say officials—RBI ensures liquid FX market, uses reserves to boost confidence, stabilise INR, and mitigate financial risks for economic stability [Category: Money &...
- + Rupee closes at an all-time low —The RBI’s intervention in the market through dollar sales prevented the rupee from dipping below the 84.50 level, say forex traders [Category: Money &...
- + Bajaj Allianz Life witnesses lot of demand from NRIs living in UAE and US —UAE, USA, UK, Qatar and Saudi Arabia are the top five countries for the private life insurer’s NRI business [Category: Money & Banking]
- + Macroeconomic stability a shared responsibility of both monetary, fiscal authorities: RBI Governor—There have been calls by leaders in the central government for the RBI to cut interest rates. [Category: Economy]
- + Bitcoin hits record $97,000 as crypto seeks direct line to Trump—The largest digital asset rose more than 2% to a record high of $97,002 as of 12:15 p.m. [Category: Crypto Currency]
- + ‘Cryptocurrency scams, hacks cause a $1.2 billion loss in 2024’—Ethereum is the most targeted blockchain with over $228 million lost and centralised exchanges (CEXs) are primary targets for hackers, accounting for ...
- + Finance Ministry unveils PLI scheme for senior executives of public sector banks —The revised scheme expands umbrella to cover senior executives in the rank of chief manager and above [Category: Money & Banking]
- + ED raids premises of audit company employee amid charges of Bitcoin use in Maharashtra polls—The house of Gaurav Mehta in Chhattisgarh's capital city Raipur is being covered under the provisions of the Prevention of Money Laundering Act (PMLA)...
- + Delegation from Hong Kong-based APLMA visits GIFT City —Bank of India’s International Banking Unit (IBU) at GIFT City hosted the delegation led by APLMA CEO James Hogan [Category: Money & Banking]
- + Attrition rates in private sector banking industry have been significantly high: RBI study—If banks lose talented employees, especially at the junior and frontline levels, they are not just losing people — they are losing experience, custome...
- + Maharashtra Bitcoin row: BJP targets Supriya Sule and Nana Patole—BJP spokesperson Sambit Patra also targeted Congress leaders Sonia Gandhi and Rahul Gandhi. [Category: Crypto Currency]
- + KYC implementation a major area of concern: RBI Dy Guv Swaminanthan—RBI’s root cause analysis indicates a set of issues, including high pendency at bank level in periodic update of KYC details of the customers [Categor...
- + RBI cautions public on deepfake videos of its Top Management being circulated over social media —RBI clarified that its officials are not involved in or support any such activities [Category: Money & Banking]
- + ‘Banks, MFs compliment and not compete with each other’—“When mutual funds are trying hard to tap beyond the top 30 cities, there is so much work that needs to be done in the top cities itself” [Category: M...
- + NPCI yet to decide on imposing 30% UPI market share cap by 2024 end—PhonePe and Google Pay continue to dominate the UPI market share [Category: Money & Banking]
- + Received approval to raise $1 billion via ECBs, says Muthoot Finance MD —NBFC does not partner with any fintech for gold loan biz [Category: Money & Banking]
- + Bandhan Life expands national footprint with launch in northern India —Life insurer’s products to be available at 142 Bandhan Bank branches across Delhi; to expand footprint in more Northern States in coming days, says In...
- + Government plans minority stake sale in 4 PSU banks, source says—The government owns more than 93% in these banks and plans to dilute its stake through an open market sale [Category: Money & Banking]
- + JAM, UPI, ULI redefining India’s fintech ecosystem: RBI Innovation Hub CEO—He highlighted that Aadhaar, which provides a digital identity to over 1.3 billion people, and AEPS have made secure banking accessible even in remote...
- + FM unveils specially minted ₹100 commemorative coin to mark centenary of SBI’s Horniman Circle Branch—Sitharaman said, “From 100 branches at the time of the 1920 amalgamation to 22,640+ branches today, with plans to add 500 more in FY25, SBI continues ...
- + SBI raises ₹10,000 crore via infra bonds—Also concluded issue of $500 million at 5.125 per cent coupon, payable semi-annually [Category: Money & Banking]
- + Need to be extremely careful on regulating cryptocurrencies: DFS Secretary—Lenders must find alternate avenues to raise funds, rather than relying entirely on bank deposits [Category: Money & Banking]
- + Government may give another extension to RBI Governor Shaktikanta Das—Potentially becoming longest-serving since Benegal Rama Rau [Category: Money & Banking]
- + Bank interest rates will have to be far more affordable: FM—Finance Minister Nirmala Sitharaman emphasizes the need for affordable bank interest rates to boost industries and economic growth [Category: Money &a...
- + Bank interest rates will have to be far more affordable : FM—Finance Minister Nirmala Sitharaman emphasizes the need for affordable bank interest rates to boost industries and economic growth [Category: Money &a...
- + Das urges bank boards to take proactive measures against risks—Das said Boards must also remain vigilant to operational risks, particularly those arising from IT outsourcing and reliance on third-party vendors [Ca...
- + Sundaram Home Finance targets solid growth in west TN; opens new EB branch in Pollachi—Buoyed by its early success in Coimbatore, where it had opened a branch last year, the company has now opened a new Emerging Branch (EB) in Pollachi [...
- + Dogecoin’s popularity expected to grow in India amid global surge—As per data sourced from CoinMarketCap’s website, Dogecoin’s volume increased from $6.24 billion on November 10 to $28.32 billion on November 12 [Cate...
- + Banks cautious on signing co-lending pacts on tech integration, underwriting concerns—NBFCs’ co-lending AUM was nearing ₹1 lakh crore in April, after 5 years of existence [Category: Money & Banking]
- + Loan default by women borrowers lower than men—Lenders favor women borrowers for lower default rates, leading to increased loans and financial inclusion initiatives for women [Category: Money &...
- + Trump’s ally Lummis pushes to sell some of the Federal Reserve’s gold to buy Bitcoin—Republican Senator Cynthia Lummis’ bill would greatly expand the scope of what Trump so far has indicated is his plan for a strategic Bitcoin reserve ...
- + Galaxy Health Insurance rolls out first insurance product 'Galaxy Promise'—Galaxy Promise offers sum insured options ranging from Rs 3 lakh to Rs 1 crore [Category: Money & Banking]
- + Bitcoin briefly tops $93,000 on Trump agenda, fed policy outlook—A onetime crypto skeptic, Donald Trump changed tack after digital-asset firms spent heavily during election campaigning to promote their interests [Ca...
- + Municipal Bonds: Improvement in the financial performance and credit ratings of municipal corporations critical, says RBI report—Total municipal bonds outstanding at ₹4,204 crore is just 0.09 per cent of the total corporate bonds outstanding as of March-end 2024, notes RBI repor...
- + SBI seeks $1.25 billion in India’s largest bank loan of 2024—CTBC Bank, HSBC Holdings Plc and Taipei Fubon Bank are arranging the five-year loan, which carries an interest margin of 92.5 basis points over the ri...
- + SBI raises MCLR across three tenors by 5 bps, effective November 15—The new MCLR rates are 8.55% for three months, 8.90% for six months, and 9% for one year [Category: Money & Banking]
- + Federal Reserve blocks Basel Committee’s climate disclosure plan, raising tensions with Europe—The Basel Committee is set to revisit the proposal on November 19, with tensions mounting as some members, including the ECB, advocate for a review me...
- + Pradhan Mantri Awas Yojana -- Urban: NHB inks pacts with 116 lending institutions for interest subsidy scheme —PMAY-U 2.0 launched in September will provide financial assistance to 1 crore urban poor and middle-class families in the next five years [Category: R...
- + Muthoot Finance post 21% rise in consolidated PAT in Q2 FY25—Consolidated PAT for H1 stood at ₹2,517 crore against ₹2,140 crore last year, an increase of 18 per cent, a press release said [Category: Money & ...
- + Karnataka Bank launches 2 financial products for students— [Category: Money & Banking]
- + Piyush Goyal says RBI should cut rates, look through food prices —It is an absolutely flawed theory to consider food inflation while deciding on rates, says Union Minister of Commerce and Industry Piyush Goyal [Categ...
- + Expanded insurance in India offers $10 billion savings, growth opportunities: Report —India’s insurance sector exhibits robust growth, but challenges in coverage and profitability persist; the sector’s gross written premium exceeded $13...
- + RBI grants banks, ATM operators more time for cassette swap mechanism—Now, the RBI has asked banks to expeditiously implement the roadmap for cassette swap implementation by March 31, 2025 [Category: Money & Banking]
- + Bitcoin briefly tops $93,000 on Trump’s pro-crypto stance, Fed Policy outlook—The crypto rally is rippling across the financial sector, driving peak trading volumes and inflows at US Bitcoin exchange-traded funds [Category: Cryp...
- + Banks’ reap productivity gains via digitalisation: RBI Dep Gov Patra—Productivity gains, include 25-30 per cent decline in customer acquisition costs, shortening account opening time to less than a day [Category: Money ...
- + SBI, HDFC Bank and ICICI Bank continue to be identified as Domestic Systemically Important Banks: RBI—RBI has prescribed additional CET 1 requirement of 0.80 per cent for SBI, 0.40 per cent for HDFC Bank, and 0.20 per cent for ICICI Bank, as a percenta...
- + Inflation has peaked, as has growth: Nomura—We are seeing rising downside risks to our GDP growth projections of 6.7 per cent y-o-y in FY25 and 6.8 per cent in FY26, says Nomura [Category: Econo...
- + Bitcoin rally slackens after more than 30% surge since Trump win—Bitcoin hit a record of $89,968 on Tuesday [Category: Crypto Currency]
- + TATA AIG experiences significant growth in health insurance from small towns—The company attributes this growth to a combination of factors, primarily the increased health awareness triggered by the COVID-19 pandemic, along wit...
- + Federal Bank mops up ₹1,500 crore via maiden issue of 10-year infra bonds—Federal Bank’s infrastructure bond issuance comprised a base issue of ₹750 crore and a greenshoe option of similar amount [Category: Money & Banki...
- + National Insurance Company’s Q2 net profit jumps 80% —The India’s oldest general insurance company said that health insurance continued to be the major premium earner comprising about 45 per cent of the t...
- + Repco Home Finance’s Q2 net up 15% at ₹113 crore—Net interest income saw a slight increase to ₹176 crore compared to ₹173 crore in the previous year [Category: Money & Banking]
- + Public sector banks’ net profit surged 26% in April-Sept period—Public sector banks in India see 26% growth in net profit, reflecting financial health and technological advancements [Category: Money & Banking]
- + Bajaj Allianz Life sees 23% growth in gross written premium, expands market share—Bajaj Allianz Life focused on making life insurance accessible to all, says MD & CEO Tarun Chugh; special emphasis on Tier 2 and 3 markets [Catego...
- + With non-performing loans easing, ARCs brace for tough FY25—As the asset under management of private ARCs is expected to contract by 7-10%, redemptions are predicted to remain robust. [Category: Money & Ba...
- + Delhi Insurance Ombudsman Office clears all complaints of 2023-24—All 3,443 complaints received in 2023-24 have been disposed, says Sunita Sharma, Insurance Ombudsman [Category: Money & Banking]
- + Bank of India reports 63% jump in Q2FY25 net profit at ₹2,374 crore—The profitability comes despite the public sector bank seeing 111 per cent y-o-y jump in loan loss provisions at ₹1,427 crore [Category: Money & ...
- + Standard Chartered sets sights on economic hubs to drive affluent client growth—The strategy is designed to tap into India’s burgeoning wealth market, with the high-net-worth (HNW) client base expected to soar from 0.7 million two...
- + Max Life integrates Swiss Re’s digital health underwriting into its operations—Real-time risk assessment using Swiss Re’s digital health solution is expected to enhance efficiency and elevate the customer experience [Category: Mo...
- + Bitcoin soars above $82,000 as Trump win boosts Crypto prospects—The largest token climbed as much as 6.1 per cent on Sunday and extended gains to hit an unprecedented $82,300 on November 11 [Category: Crypto Curre...
- + ICICI Prudential Multi asset completes 22 years —A lump sum investment of ₹10 lakh at the time of inception in October 31, 2002 will be worth about ₹7.26 crore given compounded annual growth rate of ...
- + FTX sues Binance, former CEO Zhao seeking $1.8 billion clawback—Binance, Zhao and other Binance executives received the funds as part of a July 2021 share repurchase deal with Bankman-Fried, the FTX co-founder who ...
- + Bitcoin nears $80k, little progress on crypto regulation in India—A report by Chainalysis says India leads the world on global adoption index for crypto this year [Category: Crypto Currency]
- + Finance Minister launches five Nari Shakti branches of Union Bank of India for women entrepreneurs—Union Bank of India opens Nari Shakti branches in Bengaluru, Chennai, Visakhapatnam, and Jaipur [Category: Money & Banking]
- + Bitcoin nears $80,000 for first time as Trump’s pro-crypto stance sparks market optimism—The cryptocurrency climbed as much as 4.3 per cent to an unprecedented $79,771 on Sunday [Category: Crypto Currency]
- + World Bank in talks to help finance $28 billion Turkish energy upgrade, Anadolu reports—Humberto Lopez was quoted on Saturday as saying the World Bank was in talks with Turkey's ministry of energy about the matter [Category: Money & B...
- + Sundaram Home expands into Chhattisgarh with new Raipur branch—Earlier in 2024, Sundaram Home Finance bolstered its presence in non-South regions with branch openings in Mumbai and Kota, Rajasthan [Category: Money...
- + Banks offer to park higher amount with RBI via VRRR route —This is the first time in many months when the bid amount was higher than the notified amount [Category: Money & Banking]
- + Rupee hits all-time low of 84.38 —RBI intervenes to manage currency amid global economic challenges [Category: Money & Banking]
- + LIC Q2FY25 results second quarter standalone net profit declined about 4%—Second quarter standalone net profit declined about 4 per cent year-on-year (y-o-y) to Rs ₹7,621 crore [Category: Money & Banking]
- + SBI Q2 PAT rises 28 per cent to ₹18,331 crore on higher other income—Higher non-interest income aids PAT growth; NIM moderates q-o-q [Category: Money & Banking]
- + Shriram Life’s individual new business premium soars 57% in H1 FY25—Shriram Life sold 2.83 lakh individual policies, a 96 per cent increase from the previous year [Category: Money & Banking]
- + SBI Q2 Results: Net profit jumps 23% to ₹19,782 crore—The total expenditure moved up to ₹99,847 crore in the quarter under review, from ₹92,752 crore in the year-ago period [Category: Money & Banking]
- + Results preview: SBI’s second-quarter net profit may rise 20%—Axis Capital sees the SBI’s loan growth in at 15 per cent vs 16 per cent in the first quarter [Category: Money & Banking]
- + Can Trump remove Fed Chair Powell? Here’s what the law says—Trump will have future opportunities to appoint or replace at least one Fed governor and possibly impact other key leadership roles, but the central b...
- + Fed cuts rates; Powell declares he won’t resign if Trump asks—The Federal Open Market Committee, acknowledging the uncertain economic outlook, unanimously cut the federal funds rate to a range of 4.5% to 4.75%. [...
- + RBI designates 10-year Sovereign Green Bonds under FAR for investment by non-residents—Reserve Bank of India has decided to designate SGrBs of 10-year tenor to be issued by the government in the second half of the fiscal year 2024-25 as ...
- + Bank of England cuts interest rates, sees inflation hike after Reeves' budget—Bank of England cuts interest rates to 4.75 per cent from 5 per cent [Category: Economy]
- + Large MFIs see sharp rise in NPAs, lower profit in Q2—Bankers are expecting another muted earnings quarter in Q3, and better business performance from Q4 onwards [Category: Money & Banking]
- + Rupee hit a new low—The Indian unit (INR) closed 0.2 per cent down against the previous close of 83.10. The central bank’s intervention through dollar sales prevented fur...
- + Change in stance doesn’t mean that the next step is a rate cut in the very next meeting: RBI Guv Das—RBI Governor Das explains change in stance, emphasizes balanced growth-inflation approach [Category: Money & Banking]
- + Airtel Payments Bank Q2 net up 45% at ₹11.2 crore, revenue up 58% —Crosses over 100 million Monthly Transacting Users milestone [Category: Money & Banking]
- + IFC invests $400 million in Bajaj Finance, aiming to quadruple climate loans by 2027—This investment is part of BFL’s $1 billion fundraising goal and aims to support India’s climate goals while promoting financial inclusion [Category: ...
- + Deutsche Bank infuses ₹5,113 crore capital into India operations—Over the last decade, the bank has significantly increased its capital investments, tripling the capital base for Deutsche Bank Group in India [Catego...
- + Use-case approach to drive digital payments, says Worldline India CEO—The payments firm has set up POS terminals at villages in Tamil Nadu for payment of taxes and also for devotees making payments to temples. [Category:...
- + Bitcoin hits record high, soars above $75000 amid US election results —Industry experts attribute surge to substantial inflows into exchange-traded funds (ETFs), increased speculation surrounding the election outcomes [Ca...
- + Manappuram Finance post 2% rise in Q2 net profit at ₹572 crore —Total consolidated operating income for the quarter was ₹2,633.1 crore, a 22.1 per cent increase from the same quarter last year [Category: Money &...
- + PB Fintech reports ₹51 crore profit in Q2, overcoming previous losses—Although this profit figure is lower than the ₹60 crore recorded in the previous quarter, it marks the fourth consecutive profitable quarter for the c...
- + Shriram General Insurance posts 17% rise in Q2 net at ₹140 cr—Shriram General’s Gross Written Premium rose by 15% to ₹861 crore during the same period. [Category: Money & Banking]
- + Aptus Value Housing posts 16% rise in Q2 standalone net at ₹137 cr—The Company achieved a 22 per cent % year-on-year increase in net profit in Q2 FY25, driven by business growth, stable asset quality, and a continuous...
- + CARE Ratings assigns ‘AA’ rating to Karur Vysya Bank’s fixed deposits —The agency noted that KVB’s advances grew by 16 per cent year-on-year [Category: Money & Banking]
- + Bandhan Group enters IT services with the acquisition of Genisys Group—Genisys Group’s service spans digital application lifecycle management, cloud native solutions, data management, digital media operations and business...
- + Regional Rural Banks may see a fourth round of amalgamation; number of banks likely to come down from 43 to 28—The proposed move is part of the Government’s ‘One State-One RRB’ goal [Category: Money & Banking]
- + JC Flowers ARC seeks bids to sell ₹2,613 crore of bad loans via Swiss challenge mode—The NPAs on block were part of YES Bank’s legacy bad loan portfolio. [Category: Money & Banking]
- + ₹2000 note withdrawal: Only 2% remain in circulation—The facility for exchange of the ₹2000 banknotes is available at RBI’s 19 Issue Offices since May 19, 2023, per a central bank statement [Category: Mo...
- + Indian Overseas Bank launches online Re-KYC service for hassle-free updates—This new digital service allows customers to update their KYC information without visiting the bank branch, utilising three accessible channels: the I...
- + Sundaram Finance reports a 7% drop in Q2 profit, H1 profit stays flat—Quarterly disbursements slightly decreased to ₹6,860 crore from ₹6,941 crore year-on-year [Category: Money & Banking]
- + Govt invites applications for RBI Deputy Governor—The appointment is for a period of three years, and the individual is qualified for reappointment. The position will have a monthly salary of Rs ₹2.25...
As of 12/21/24 1:02pm. Last new 12/20/24 10:06am. Score: 383
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