Page 11 - Finance News
HDFC Bank raises 3-5 year FCNR(B) dollar deposit rate by 25 bps to 6.25%
The private sector lender raised its dollar deposit rate by 25 basis points as banks compete for non-resident funds before the RBI's concessional swap window closes
 "HDFC Bank raises 3-5 year FCNR(B) dollar deposit rate by 25 bps to 6.25%")
RBI's special forex swap window outpaces 2013 inflows in only weeks
FCNR(B) deposits contributed $36.7 billion as banks raised nearly $41 billion under the RBI's concessional swap facility in less than two months, exceeding the 2013 mobilisation
 "RBI's special forex swap window outpaces 2013 inflows in only weeks")
Over 55 million income tax returns filed by Friday noon: I-T department
The department has been urging taxpayers, particularly those eligible to file simpler forms such as ITR-1 (Sahaj) and ITR-2, to complete the process early
 "Over 55 million income tax returns filed by Friday noon: I-T department")
Banks raise fresh deposit rates in June; lending rates edge up: RBI
Fresh term deposit rates rose 16 basis points in June, while lending rates on new rupee loans edged higher and the one-year MCLR increased in July
 "Banks raise fresh deposit rates in June; lending rates edge up: RBI")
Industrial credit growth triples to 19.2% in June on broad-based rise
Industrial lending gathered pace across micro, small, medium and large enterprises as non-food bank credit, services, agriculture and retail loans also recorded stronger growth
 "Industrial credit growth triples to 19.2% in June on broad-based rise")
Over 55 million income tax returns filed for AY27 ahead of July 31 deadline
The last date to file ITR 1 and ITR 2 for AY 2026-27 is July 31, 2026
 "Over 55 million income tax returns filed for AY27 ahead of July 31 deadline")
Sectoral, destination shifts mark outward Indian FDI commitments in June
Shifting global supply chains are pushing more Indian firms to build a footprint abroad
 "Sectoral, destination shifts mark outward Indian FDI commitments in June")
Rupee rises 20 paise to 95.30 against US dollar during early trade
At the interbank foreign exchange, the rupee opened at 95.40 before rising further to 95.30, up 20 paise from its previous close
 "Rupee rises 20 paise to 95.30 against US dollar during early trade")
Govt tweaks MFI credit guarantee rules to boost scheme utilisation
The government has eased norms under the microfinance credit guarantee scheme to boost fund flow to smaller lenders as utilisation of the ₹20,000-crore corpus remains low
 "Govt tweaks MFI credit guarantee rules to boost scheme utilisation")
Lenders less likely to extend credit to new borrower now than a decade back
Lenders are less likely to provide loans to borrowers who are new to credit, as they prefer to serve their existing customers, a leading credit information company said on Thursday.
 "Lenders less likely to extend credit to new borrower now than a decade back")
Industry concerns prompt GSTN to defer proposed e-way bill enhancements
The proposed August 1 rollout has been put on hold after businesses sought more time to modify ERP systems, update databases and test compliance processes
 "Industry concerns prompt GSTN to defer proposed e-way bill enhancements")
Zero PSB locker thefts in FY26: How bank lockers are secured in India
Public sector banks reported no locker thefts in FY26 after 40 cases over the previous four years. RBI guidelines prescribe security standards, customer alerts and bank liability for losses
 "Zero PSB locker thefts in FY26: How bank lockers are secured in India")
Rupee rises 13 paise to 95.63 against US dollar during early trade
The rupee received support from positive domestic markets and foreign capital inflows, though a stronger dollar after the Fed policy decision limits gains
 "Rupee rises 13 paise to 95.63 against US dollar during early trade")
$32 bn inflows from India's forex drive yet to lift rupee, boost liquidity
RBI Governor Sanjay Malhotra has said that banks have mobilised $32 billion under recent measures, though the inflows are yet to significantly boost forex reserves, banking liquidity or the rupee
 "$32 bn inflows from India's forex drive yet to lift rupee, boost liquidity")
IBC moratorium shields only corporate debtor, not promoters, directors: SC
Top court says insolvency moratorium cannot be used by promoters, directors or guarantors to stall consumer and other legal proceedings against them
 "IBC moratorium shields only corporate debtor, not promoters, directors: SC")
Google Pay launches second cobranded credit card, partners with SBI Card
Company also integrates Google Gemini into the app to help users analyse spending, track savings and understand financial concepts such as credit scores
 "Google Pay launches second cobranded credit card, partners with SBI Card")
Rupee is undervalued, says RBI Governor: What it means and why it matters
RBI Governor Sanjay Malhotra says the rupee is undervalued and recent weakness is due to global factors, not India's economy. Here's what it means and why it matters
 "Rupee is undervalued, says RBI Governor: What it means and why it matters")
Banks collected ₹7,086 crore as minimum balance penalties in FY26: Govt
According to the Finance Ministry, private sector banks accounted for nearly 70 per cent of the total minimum balance charges collected in FY26
 "Banks collected ₹7,086 crore as minimum balance penalties in FY26: Govt")
Can UPI, NEFT or RTGS transfers trigger income-tax notice? What to know
Tax experts say one of the biggest misconceptions among taxpayers is that the income-tax department watches every small UPI transaction in real time
 "Can UPI, NEFT or RTGS transfers trigger income-tax notice? What to know")
Rupee rises 5 paise to 95.77 against US dollar during early trade
At the interbank foreign exchange, the rupee opened at 95.70 and slipped to 95.77 against the greenback, registering a gain of 5 paise from its previous close