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UPI processes over 7 bn transactions in Oct, record high since inception

Transactions on UPI amounted to Rs 12 trillion in October, a record high for the platform

Credit to industry up 12.6% YoY in September; touches 100-month high

Apart from base effect, credit to industry got a big boost from MSMEs; among sectors, petroleum, gems & jewellery, engineering, iron & steel, and construction were key drivers

RBI has been prudent in its exchange rate management: Deepak Parekh

Currency's depreciation not a reflection of the economy, says HDFC Ltd chairman

Pilot for digital rupee for wholesale segment to commence on November 1

Use case to be settlement of secondary market transactions in g-secs; RBI says digital rupee is expected to make inter-bank market more efficient, as settlement will reduce transaction costs

Key role for banks in offering best intermediation services: RBI's Patra

Calls for world-class financial intermediation services with Indian economy poised to surpass Germany and Japan a few years and nation's population set to become world's largest and youngest

Credit card base of major issuers erodes in Q2 over RBI's norms

SBI Card was exception as gains card base, market share

RBI governor Shaktikanta Das cautions on backdoor entry in financial space

Although some number of complaints is expected from such a large financial system, the concerning fact is much of the complaints pertain to traditional banking

Infibeam Avenues gets RBI in-principle nod for payment aggregator licence

The RBI allowed another window to PAs existing as of March 2020 to apply to the central bank for a license

SBI Card Q2 net profit jumps 52% to Rs 526 crore on low provisions

Impairment losses and bad debts declined 8 per cent YoY to Rs 546 crore, but increased 21 per cent sequentially

Private banks' net profit soars on healthy loan growth, higher margins

NIMs expanded as banks hiked rates on lending faster than those on deposits

Insurance regulator Irdai proposes changes to reinsurance regulations

Seeks to revise order of preference while placing reinsurance business

Life insurers' retail protection biz down YoY, seen stabilising going ahead

Max Life bucks trend with 11% YoY growth in retail protection APE in Q2

Q2 scorecard: Banks' loan growth outpaces deposits by a huge margin

Banks walk the extra mile to woo depositors

ICICI Bank Q2 net rises 37% to Rs 7,558 cr on healthy loan growth

Advances of ICICI Bank grew 23 per cent YoY and 5 per cent sequentially to Rs 9.38 trillion at the end of the September quarter

Kotak Mahindra Bank's consolidated net profit rises 20.7% in Q2FY23

NII of the lender grew 26.8 per cent YoY to Rs 5,099 crore during this period and net interest margin, a measure of profitability of banks, stood at 5.17 per cent

BoB-backed IndiaFirst Life Insurance files DRHP with Sebi for IPO

The IPO will consist of a fresh offer of Rs 500 crore and an offer for sale of 141.2 million shares

Credit card spends touch record high of Rs 1.22 trillion in September

Banking system saw a net reduction of close to 290,000 cards during this period, impacted by RBI norms warranting deactivation of cards that are inactive for a year

State Bank of India, IDBI Bank hike retail fixed deposit rates

For 1 year to less than 2 years, SBI is offering 6.10% as compared to 5.60% earlier

HDFC Life's net profit rises 19% to Rs 326.24 crore in Sept quarter

Value of new business (VNB) of the insurer was up 10.3 per cent YoY to Rs 748 crore in Q2FY23 compared to Rs 678 crore in the year-ago period

Canara, UBI, Central Bank see 2-digit rise in net due to higher NII growth

NII of the lender grew 18.5 per cent year-on-year (YoY) to Rs 7,434 crore