Page 1079 - Finance News
MFIs' gross loan growth soars 69% to Rs 42,106 cr in Q1
MFIs provided microcredit to over 31 million clients, up 24% over first quarter of FY15
 "MFIs' gross loan growth soars 69% to Rs 42,106 cr in Q1")
FinMin moves draft Cabinet note to incentivise e-payments
Consumers and merchants can look forward to fee waivers and tax benefits on cashless payments
 "FinMin moves draft Cabinet note to incentivise e-payments")
SBI expects Jan Dhan accounts to break even next year
Total deposits under the scheme have more than doubled to Rs 5,125 cr as of June-end
 "SBI expects Jan Dhan accounts to break even next year")
Reserve Bank isn't done with rate cuts, says Rajan
Says impact of crisis in China won't be as big here as in some other countries
 "Reserve Bank isn't done with rate cuts, says Rajan")
Not called an end to rate cuts: Raghuram Rajan
RBI Governor reiterates will take a decision based on incoming data
 "Not called an end to rate cuts: Raghuram Rajan")
Credit growth for SBI & associates grows at a slower pace compared to peers
Grew at 4.6% as compared to 11.3% in the same period a year ago
 "Credit growth for SBI & associates grows at a slower pace compared to peers")
Certificate of deposit issuances fall amid easy liquidity
RBI's annual report said that the average fortnightly issuances of CDs decreased to Rs 29,700 cr during 2014-15 from Rs 30,600 cr compared annually
 "Certificate of deposit issuances fall amid easy liquidity")
No payment systems to work on 2nd, 4th Saturdays from Sept 1: RBI
Will work full day on other Saturdays; bank branches to be shut on 2nd, 4th Saturdays from next month
 "No payment systems to work on 2nd, 4th Saturdays from Sept 1: RBI")
Banks seek timely payment of commission on DBT transfer
Also seek higher commission payment
 "Banks seek timely payment of commission on DBT transfer")
Bank credit decelerates to 8.6% in Apr-Jun quarter
Bank deposits grew by 10.6% in the three months to June from 11.9% year ago
IDBI looks for $500-750 mn overseas borrowings in second half
Plans contingent on market conditions
 "IDBI looks for $500-750 mn overseas borrowings in second half")
PSBs need govt support for viability of social schemes: SBI
Govt needs to think about 'ways and means' to sustain social security schemes in the long run, said SBI chief
 "PSBs need govt support for viability of social schemes: SBI")
UBI looks to bring down gross NPA below Rs 6,000 cr
Says it is hopeful of getting capital from the govt and that it has sought Rs 500 crore
 "UBI looks to bring down gross NPA below Rs 6,000 cr")
Average value of mobile transaction beats credit, debit card
Transactions via mobile phones in 2014-15 stood at Rs 5,847 compared to Rs 3,089 via credit cards and Rs 1,485 on debit cards
 "Average value of mobile transaction beats credit, debit card")
 "Govt banks miss PSL targets again")
RBI's balance sheet expands by 10.1% in FY15
Rising foreign currency assets aid expansion
Citi looks at India to build banking applications for global market
Launches accelerator programme with IBM, Google, Amazon, Wipro
 "Citi looks at India to build banking applications for global market")