Page 1166 - Finance News
Rupee might weaken further on dollar demand
On Friday, the rupee ended weak at 63.30, compared with the previous close of 63.11 to a dollar
 "Rupee might weaken further on dollar demand")
CDC & Lok Capital lead $21 mn Series D investment in Utkarsh Micro Finance
Existing investors IFC, NMI and Aavishkaar participate in this round of funding
 "CDC & Lok Capital lead $21 mn Series D investment in Utkarsh Micro Finance")
IndusInd's Romesh Sobti is BS Banker of the Year
He has been chosen for the bank's consistent performance during a period of slow economic growth, mounting NPAs and muted credit demand
 "IndusInd's Romesh Sobti is BS Banker of the Year")
RBI's new rules fall short of making White Label ATMs viable
They have welcomed the permission to allow use of international credit and other cards but say it isn't enough to assure viability
 "RBI's new rules fall short of making White Label ATMs viable")
 "Govt banks' NPA write-offs double in three years")
MHA bats for SMSes on bank transactions, ATM slips in Hindi
Home Ministry's official language department said so far there is no facility for working in Hindi language on Internet banking websites
 "MHA bats for SMSes on bank transactions, ATM slips in Hindi")
Bank unions to intensify strike on wage settlement
The United Forum of Bank Unions would be holding a one-day all-India strike on January 7 followed by a four-day strike from January 21-24
 "Bank unions to intensify strike on wage settlement")
ITZCash says open for partnership for payment bank
I always have been advocating that if you bring partner with unique strengths, your probability of success increases, says company's MD
 "ITZCash says open for partnership for payment bank")
Deadline to exchange pre-2005 currency notes ends on January 1
Post-2005 notes have added security features and help in curbing the menace of fake currency
 "Deadline to exchange pre-2005 currency notes ends on January 1")
Bad loan write offs double to Rs 42,477 cr in 3 years
Reserve Bank Governor Raghuram Rajan has been highlighting the problem of rising bad loans in the banking sector
 "Bad loan write offs double to Rs 42,477 cr in 3 years")
Base rate may come down before March: Paresh Sukthankar
Says base rate is on downward trajectory as deposit rates have started coming off
 "Base rate may come down before March: Paresh Sukthankar")
Financial viability will be a challenge for Payment Banks: Paytm
Seeks clarification from RBI on branch, corporate structure
 "Financial viability will be a challenge for Payment Banks: Paytm")
Bankers to strike work for five days in January
It will be followed by four days continuous strike Jan 21-24 and an in-definite strike from March 16 onwards
 "Bankers to strike work for five days in January")
IDFC to slash stake in infra debt fund to 49%
IIDF raising Rs 1,500 cr through non-convertible debentures to buy out loans to road projects
 "IDFC to slash stake in infra debt fund to 49%")
 "'No need to press panic button due to unhedged exposure'")
FIPB clears HDFC Bank and Ratnakar Bank FDI proposals
HDFC Bank had applied for FIPB approval for expanding its equity base by up to Rs 10,000 crore and Ratnakar Bank for capital raising
 "FIPB clears HDFC Bank and Ratnakar Bank FDI proposals")
2-level verification to be partly relaxed
Hope to see outlines of such a structure in 2 months, says dy governor; asks for initiatives to help move towards obviating use of cash for transactions
 "2-level verification to be partly relaxed")
RBI steps up efforts to improve coordination with law enforcement agencies
Move aimed to prevent recurrence of Saradha-like chit fund scam
ICICI Bank out of Russia, trims foreign operations
Lender repatriates capital from its UK, Canada arms over macroeconomic uncertainties, strict regulations and tepid growth opportunities
 "ICICI Bank out of Russia, trims foreign operations")