Page 114 - Finance News
Deposit rates drop more in easing phase, lending rates rise in tightening
RBI data suggest that during the tightening period, the transmission on fresh deposits and loans was higher for state-owned banks than for private sector banks
 "Deposit rates drop more in easing phase, lending rates rise in tightening")
FAR securities attract Rs 75k cr foreign inflows since JP Morgan inclusion
Foreign investors had net bought Rs 14,430 crore worth of FAR securities in January
 "FAR securities attract Rs 75k cr foreign inflows since JP Morgan inclusion")
Ahead of Modi-Trump meet, rupee logs biggest single-day gain in 2 years
RBI sells $12 bn in 2 days to lift rupee
 "Ahead of Modi-Trump meet, rupee logs biggest single-day gain in 2 years")
Amid hardening of yields, REC and IIFCL do not raise full quantum
REC raised Rs 2,595 crore at 7.28%; IIFCL raises Rs 1,040 crore at 7.56%
 "Amid hardening of yields, REC and IIFCL do not raise full quantum")
SFBs' Q3 profits erode due to interest cost pressures, uptick in slippages
Bad loans grow sequentially and annually
 "SFBs' Q3 profits erode due to interest cost pressures, uptick in slippages")
Net direct tax kitty swells 14.7% to Rs 17.78 trillion till Feb 10
As per the data released by the Central Board of Direct Taxes (CBDT), mop up from net non-corporate taxes, which include mainly personal income tax, grew 21 per cent year-on-year to about Rs 9.48 trn
 "Net direct tax kitty swells 14.7% to Rs 17.78 trillion till Feb 10")
Rupee appreciates 61 paise to 86.84 against US dollar in early trade
The sharp depreciation in the rupee was driven primarily by the threats of reciprocal tariffs and additional protectionist measures that have strained global supply chains
 "Rupee appreciates 61 paise to 86.84 against US dollar in early trade")
GST evasion of Rs 1.88 trn detected by CGST officers during April-Dec 2024
Minister of State for Finance Pankaj Chaudhary said GST evasion, including ITC fraud cases, in 72,393 cases between April and December stood at Rs 1.88 trillion. 132 arrests were made
 "GST evasion of Rs 1.88 trn detected by CGST officers during April-Dec 2024")
RBI to buy Rs 40,000 crore govt securities via OMO auction on Thursday
The RBI plans to infuse Rs 2 trillion via an overnight variable rate repo (VRR) auction on Tuesday.
 "RBI to buy Rs 40,000 crore govt securities via OMO auction on Thursday")
Reserve Bank of India pulls back rupee from the brink of 88 against dollar
The rupee depreciated to a new low of 87.95 prompting the central bank to intervene, dealers said
 "Reserve Bank of India pulls back rupee from the brink of 88 against dollar")
Indian companies filed ECB intent worth $9.54 billion in December 2024
Of this, the intent for fund-raising through the automatic route amounted to $6.23 billion, while that via the approval route stood at $3.3 billion, according to RBI data
 "Indian companies filed ECB intent worth $9.54 billion in December 2024")
Centre releases Rs 1.11 trillion interest-free loans to states in Apr-Jan
According to the data, the top beneficiary states so far in FY24 are Bihar (Rs 11,522 crore), followed by Uttar Pradesh (Rs 10,795 crore), Madhya Pradesh (Rs 10,166 crore), and West Bengal Rs 9,729 cr
 "Centre releases Rs 1.11 trillion interest-free loans to states in Apr-Jan")
Govt bond yields edge higher as investors grapple with policy setback
The central bank cut the policy repo rate by 25 basis points on Friday, its first reduction in nearly five years, but did not announce any measures to boost banking system liquidity
 "Govt bond yields edge higher as investors grapple with policy setback")
Action against banks, NBFCs if they violate gold auction norms: Sitharaman
During Question Hour in Lok Sabha, she said Non Banking Financial Companies (NBFCs) and Scheduled Commercial Banks (SCBs) are guided by similar rules
 "Action against banks, NBFCs if they violate gold auction norms: Sitharaman")
Rupee hits record low of 87.95 against US dollar in early trade today
Forex traders said the dollar index was quoted at 108 gained after President Donald Trump said he was said to impose new 25 per cent tariffs on all steel and aluminium imports
 "Rupee hits record low of 87.95 against US dollar in early trade today")
US tariffs' scare push rupee to record low, RBI steps in to cap losses
Trump said he will introduce new 25 per cent tariffs on steel and aluminium imports into the US
 "US tariffs' scare push rupee to record low, RBI steps in to cap losses")
Small can be beautiful: MSME sector gears up for transformational changes
The MSME sector may be on the cusp of a big change if it seizes on the opportunities in financing and protection in getting dues
 "Small can be beautiful: MSME sector gears up for transformational changes")
Taxonomy for climate finance should be ready in 6 months: DEA secretary
Finance Minister Nirmala Sithraman in her Budget 2024-25 had announced a proposal for developing a taxonomy for climate finance
 "Taxonomy for climate finance should be ready in 6 months: DEA secretary")
Govt counts on tax, interest rate cut to revive economy; investors cautious
The decision by India's central bank on Friday to reduce its key rate for the first time in five years comes less than a week after Modi's government unveiled historic tax cuts in its federal budget
 "Govt counts on tax, interest rate cut to revive economy; investors cautious")
RBI will allow ample time for implementing changes regarding ECL, LCR: Guv
RBI Governor Sanjay Malhotra says market determines rupee depreciation, touches on necessary regulations surrounding cryptocurrency
 "RBI will allow ample time for implementing changes regarding ECL, LCR: Guv")