Page 101 - Finance News

IndusInd Bank CEO gets 1-year extension, short of board's recommendation

The Reserve Bank of India (RBI) approved Kathpalia's term to be extended from March 24 this year to March 23, 2026, IndusInd said

Insurance cos knock on Irdai door seeking more time to implement Bima-ASBA

The insurance regulator had in mid-February set the March 1 deadline for rollout of the feature, which allows insurers to take a customer's consent and block the premium amount for a period of 14 days

Women's financial inclusion has a North India problem; large states trail

Share of women living in areas underperforming in financial inclusion will only increase over the next decade

Indian firms ramp up long-term FX hedges on rupee swings, cheaper costs

The rise in hedging longer-tenor exposures follows a pickup in shorter duration hedges

Rupee falls 6 paise to 87.18 against US dollar during early trade

However, weakening American currency index and lower level of crude oil prices helped the Indian currency prevent a sharp fall, forex traders said

Why RBI's new Governor Sanjay Malhotra must ease credit, but not too much

Effective April 1, banks will set aside less capital on loans to better-rated nonbanking financial companies

FM launches digital footprint-based credit assessment model for MSMEs

The Finance Ministry statement further noted that the benefits to MSMEs by use of this model includes submission of application from anywhere through online mode, reduced paperwork and branch visit

EPFO 3.0 to rollout soon; will allow funds withdrawal from ATMs: Mandaviya

Speaking after inaugurating EPFO's Office Complex of Telangana Zonal Office and Regional Office here this evening, he said the 'EPFO 3.0 version' will be equivalent to the banking system

Over 30k taxpayers declare foreign assets worth ₹29k cr in CBDT's campaign

24,678 taxpayers reviewed their ITRs and 5,483 taxpayers filed belated returns for AY 2024-25, declaring foreign assets worth Rs 29,208 crore and additional foreign income of Rs 1,089.88 crore

GST Council revamps GoM for sector-specific tax policy suggestions

As per the expanded ToR, the GoM would analyse the state-wise revenue collection trend, including the identification of revenue patterns across sectors and regions

Ranya Rao gold smuggling controversy: What India's customs rules say

Kannada actress Ranya Rao was caught smuggling gold at Bengaluru Airport. Here's a look at India's customs rules on gold, cash limits, and penalties under the Customs Act of 1962

RBI set to ask lenders to tighten gold loan processes, monitor fund usage

The Reserve Bank of India wants banks and non-banks to also bolster background checks on borrowers and ascertain the ownership of the gold that is being mortgaged

RBI Guv Sanjay Malhotra vows consultative approach with fintech firms

Malhotra's latest comments will likely provide relief to the industry hit hard by a crackdown on errant firms under his predecessor Shaktikanta Das

Rupee falls 5 paise to 87.11 against US dollar during early trade

The local currency found support initially amid the US move to delay implementation of higher tariffs on Canada and Mexico, forex traders said

RBI announces Rs 1 trn bond buy, $10 bn $-Re swap to infuse liquidity

The central bank announced open market operations (OMO) auctions to purchase government securities worth Rs 1 trillion in two tranches of Rs 50,000 crore each on March 12 and March 18

RBI-Fintech meet: Malhotra emphasises on need for ensuring compliance

He also emphasised that the RBI values such interactions with ecosystem participants and would continue to adopt a consultative approach

CAG Murthy, Arvind Panagariya hold consultation on public finance, revenue

The Union, the states, local bodies and the PSEs are under the audit of the CAG

Deposit insurance cover hike may dent banks' net profit up to Rs 12K cr

While the proposed increase in the deposit insurance limit is not known, under various scenarios, the insured deposit ratio (IDR) may increase to 47.0-66.5 per cent

Securitisation volumes likely to touch Rs 60,000 crore mark in Q4FY25

The volumes are typically higher in Q4 because many banks are interested in acquiring PSL assets to meet regulatory norms, apart from the pickup of microfinance disbursements

Rupee records highest single day gain in three weeks; settles at 86.96

The dollar index dropped 0.6 per cent to 104.9, its lowest level since November 2024, amid concerns over the US growth outlook and uncertainty about the impact of trade tariffs on growth and inflation