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SBI raises lending rates, HDFC Bank and BoB increase deposit rates

Moves follow RBI's 90-bp repo rate increase in a little over a month

SBI and IDBI Bank join trend, raise their interest rates on deposits

Interest rates on retail term deposits (below Rs 2 crore) of 211 days to less than one-year tenor have been increased by 20 bps to 4.6 per cent. It was 4.4 per cent earlier

SBI joins industry trend, hikes interest rates on retail and bulk deposits

The hike in deposit rates follows the rate action by Reserve Bank of India's (RBI) Monetary Policy Committee in the June monetary policy

Go Digit promoters Watsa, Goyal seek regulatory nod for reinsurance biz

Currently, India has one domestic reinsurance company, the state-owned General Insurance Corporation (GIC Re)

RBI's regulation review authority moots periodic review of existing rules

Also suggests that regulatory instructions should contain a statement of objective underlying the rationale for their issuance, supplemented with FAQs/guidance notes and illustrations

Failed auto-debit requests ease to a 38-month low in May, shows NACH data

'Improving bounce-rate trajectory suggests slippages, credit cost will descend in FY23'

How credit card route to UPI may come at a price for merchants

Smaller merchants can be subsidised to make it work

Credit card linkage to UPI: Uncertainty over pricing leaves players in dark

There is no clarity on whether linking to UPI facility will be extended to credit cards of other card networks, such as Visa, Mastercard, American Express, etc

Now, life insurers can introduce products without Irdai's prior approval

Currently, all life insurance products and riders require prior approval of the insurance regulator before launch

Over 4.5-million IPO mandates created via UPI in May, shows data

In May, 4.5 million IPO mandates were created through UPI and a record 2.4 million mandates got executed, data shows

RBI policy effect: Loans to get more expensive as banks hike lending rates

ICICI, BoB take the lead; Kotak Bank ups deposit rates

With month to go for card-on-file tokenisation, firms set up solutions

Merchants and other entities that have stored card details of customers will have to purge the data and apply tokenisation

RBI allows credit cards to be linked to UPI; marks shift from 'pay now'

Initially, home-grown card network Rupay Credit cards will be linked with UPI

RBI raises repo rate to 4.9%; expects inflation to hurt for 3 quarters

Inflation forecast increased to 6.7% for FY23; GDP forecast retained at 7.2%

BoI contests maintainability of Amazon's intervention plea in FRL case

NCLT to hear matter on June 10; asks bank to respond to Amazon's intervention application; lender says will file reply without prejudice

Irdai eases capital requirement for insurers to offer PMJJBY schemes

PMJJBY provides life insurance cover worth Rs 2 lakh to all account holders aged 18-50 years

More flexibility for insurers as Irdai eases health product approvals

Move will help firms adapt to changing customer preferences

Irdai extends 'Use & File' procedure to health and general insurance plans

Currently, insurance companies have to obtain prior approval from the insurance regulator to launch new products

EMIs to hurt more as PNB, ICICI Bank, HDFC hike interest rates

Third hike by HDFC in a month, ICICI increase steepest at 30 basis points

UPI processed nearly 6 billion transactions worth Rs 10 trillion in May

NPCI sets its eyes on processing a billion UPI transactions a day on its platform within the next 3-5 years