Page 115 - Finance News
Rupee strained by Trump tariffs; bonds await RBI's policy decision
There was little impact on the rupee from India's federal budget on Saturday. Indian shares, which were open for a special trading session, closed lower
 "Rupee strained by Trump tariffs; bonds await RBI's policy decision")
RBI likely to cut repo rate by 25 basis points: Business Standard poll
The domestic rate-setting panel has kept the policy repo rate unchanged for the last 11 consecutive meetings after raising it by 250 bps between May 2022 and February 2023
 "RBI likely to cut repo rate by 25 basis points: Business Standard poll")
Budget 2025: Individual credit score boost for 100 mn SHG members
Tucked away as an innocuous para in the Budget document, it says "PSBs will develop a 'Grameen Credit Score' framework to serve the credit needs of SHG members, and people in rural areas"
 "Budget 2025: Individual credit score boost for 100 mn SHG members")
STT collection estimates: Building castles in the air on shifting sands
To secure fiscal targets, sustaining STT growth remains a high-wire act in a windy market
 "STT collection estimates: Building castles in the air on shifting sands")
Reduced FY26 outlay for P2M promotion concerns industry, say experts
Incentives to promote such digital payments slashed for 2nd year straight
 "Reduced FY26 outlay for P2M promotion concerns industry, say experts")
Rupee not depreciating against any currency other than $: FM Sitharaman
Indian rupee has been under pressure in the last few months but it continues to be the least volatile currency against the US dollar among its Asian and global peers
 "Rupee not depreciating against any currency other than $: FM Sitharaman")
UPI volume scales new peak of 16.99 billion in January, shows NPCI data
The number of daily transactions for January stood at 14.33 million, up from 14.23 million in December, which translated into a daily transaction value of Rs 19,562 crore
 "UPI volume scales new peak of 16.99 billion in January, shows NPCI data")
Non-tax revenue from telecom pegged 33% lower at Rs 82,443 cr for FY26
The revised estimates for FY25 place revenue from telecom (under the head 'other communications services') marginally higher at Rs 1.23 trillion against the originally-expected Rs 1.20 trillion
 "Non-tax revenue from telecom pegged 33% lower at Rs 82,443 cr for FY26")
Budget proposes GST amendment: Track and Trace Mechanism to prevent evasion
The budget inserted a new clause in Central GST law to provide for a definition of Unique Identification Marking for the implementation of Track and Trace Mechanism
 "Budget proposes GST amendment: Track and Trace Mechanism to prevent evasion")
RBI partially devolves 10-yr green bond; $/rupee swap attracts 5 times bids
The RBI accepted Rs 1,054 crore worth of green bonds at the auction, against the notified amount of Rs 5,000 crore
 "RBI partially devolves 10-yr green bond; $/rupee swap attracts 5 times bids")
Gen AI's integration with financial sector to foster innovation: SBI chief
He said with the advent of technology-based banking products and the growing use of these products by vulnerable sections of society, consumer education and protection are necessary
 "Gen AI's integration with financial sector to foster innovation: SBI chief")
Agri credit disbursement hits Rs 19.28 trillion in first 3 quarters of FY25
In order to boost the credit to the rural sector with the help of effective and hassle-free agriculture credit, the government has been fixing annual targets for GLC
 "Agri credit disbursement hits Rs 19.28 trillion in first 3 quarters of FY25")
Rupee performed better than currencies of Canada, Korea, Brazil: Eco Survey
The Real Effective Exchange Rate (REER), which reflects the real purchasing power of the currency, steadily appreciated from 103.2 in April 2024 to 107.2 in December 2024, the survey added
 "Rupee performed better than currencies of Canada, Korea, Brazil: Eco Survey")
Forex reserves increase $5.57 billion to $629.55 billion, shows data
In the previous reporting week, the overall kitty had dropped $1.888 billion to $623.983 billion
 "Forex reserves increase $5.57 billion to $629.55 billion, shows data")
Paring initial losses, Rupee settles flat at 86.62 against dollar
At the interbank foreign exchange, the rupee opened on a weak note at 86.63 and touched a high of 86.59 and a low of 86.65 against the American currency during the session
 "Paring initial losses, Rupee settles flat at 86.62 against dollar")
Eco Survey asks financial regulators to balance stability, innovation
The financial sector is primarily governed through independent regulatory bodies (IRBs) RBI, Sebi, IRDAI, PFRDA and IBBI -- with FSDC having a broader financial stability mandate
 "Eco Survey asks financial regulators to balance stability, innovation")
RBI injects $5.1 billion liquidity through oversubscribed FX swap auction
The RBI accepted 28 bids, totaling $5.1 billion, in the auction and the premium cut-off was set at 96.81 paisa, slightly below the prevailing market level before the auction results were announced
 "RBI injects $5.1 billion liquidity through oversubscribed FX swap auction")
Union Budget FY26: Key banking amendments in the spotlight, yet again
Among the most-watched moves pertaining to the banking sector will be possible changes to the RBI Act, the Banking Regulation Act and the Banking Companies Act
 "Union Budget FY26: Key banking amendments in the spotlight, yet again")
Banks to NBFCs, customer complaints rise as redressal system slows down
Complaints about mobile or e-banking form majority of those received by the RBI ombudsman against banks
 "Banks to NBFCs, customer complaints rise as redressal system slows down")
Rupee falls 3 paise to 86.65 against US dollar during early trade
Forex traders said the rupee continued to face pressure due to sustained foreign fund outflows
 "Rupee falls 3 paise to 86.65 against US dollar during early trade")