Page 119 - Finance News
Tighter lending norms stymie Indian banks' loan growth for 7th month
Including the merger impact, loans grew 11.4% last month, compared with 20.3% in the year-ago period
 "Tighter lending norms stymie Indian banks' loan growth for 7th month")
Forex reserves rise to two-month high of $640.48 billion, shows RBI data
Changes in foreign currency assets are caused by the central bank's intervention in the forex market as well as the appreciation or depreciation of foreign assets held in the reserves
 "Forex reserves rise to two-month high of $640.48 billion, shows RBI data")
16% of card spends happen on RuPay, half of it on credit via UPI: NPCI
RuPay is India's indigenous payment network run on NPCI's infrastructure
 "16% of card spends happen on RuPay, half of it on credit via UPI: NPCI")
Sebi launches centralised database portal Bond Central for corporate bonds
Listing out the key features of the portal, Sebi said it is a unified view of corporate bonds across exchanges and issuers ensuring transparency and comparison
 "Sebi launches centralised database portal Bond Central for corporate bonds")
RBI conducts forex swap worth $10 billion to inject long-term liquidity
The Reserve Bank of India (RBI) said it received 244 bids during the auction and 161 of them were accepted for amount totalling USD 10.06 billion
 "RBI conducts forex swap worth $10 billion to inject long-term liquidity")
RBI relaxing risk weights to release Rs 40,000 cr capital for banks
Bandhan Bank and IndusInd Bank likely to be biggest beneficiaries of the moves since both have high microfinance exposure
 "RBI relaxing risk weights to release Rs 40,000 cr capital for banks")
CII's legal committee pushes for appellate body for financial sector
The legal committee wants all financial regulators, including the RBI, to be under the ambit of the new body
 "CII's legal committee pushes for appellate body for financial sector")
Rupee falls 19 paise to 87.37 against US dollar during early trade
Forex traders said the ongoing uncertainty surrounding tariff imposition by the US has left financial markets in flux
 "Rupee falls 19 paise to 87.37 against US dollar during early trade")
UPI transactions in Jan surpass 16.99 billion, value exceeds Rs 23.48 trn
For 2023-24, the digital payments landscape has demonstrated remarkable expansion, the finance ministry said in a statement
 "UPI transactions in Jan surpass 16.99 billion, value exceeds Rs 23.48 trn")
BS Manthan: Audit quality has improved in past few years, says NFRA chief
He further added that the regulatory body is not passing disciplinary orders in abundance and is instead focussing on inspections
 "BS Manthan: Audit quality has improved in past few years, says NFRA chief")
Moderation in inflation creates policy space for RBI to cut rates: NCAER
Earlier this month, RBI slashed policy repo rate by 25 basis points to 6.25 per cent. The next monetary policy committee meeting is to be held in April
 "Moderation in inflation creates policy space for RBI to cut rates: NCAER")
IMF keeps India's 'stabilised' exchange rate classification through 2024
The IMF had first moved to the "stabilised" classification for India from "floating" in December 2023
 "IMF keeps India's 'stabilised' exchange rate classification through 2024")
India 10-yr bond yield to slip to 6.45% by Apr on rate cut: BofA executive
The premium of the 10-year India bond yield over the policy repo rate should not be more than 45-50 basis points, Jain said, adding the bank likes the "front-end of the yield curve"
 "India 10-yr bond yield to slip to 6.45% by Apr on rate cut: BofA executive")
Rupee falls 22 paise to 87.41 against US dollar in early trade today
Forex traders said the latest tariff announcements from the US have sent shockwaves through global markets, strengthening the dollar
 "Rupee falls 22 paise to 87.41 against US dollar in early trade today")
After crossing Rs 8 trn, SBI aims Rs 10 trn home loan book by Mar'27: Setty
SBI's home loan portfolio grew by 14.26 per cent year-on-year (Y-o-Y) to Rs 7.92 trillion as of December 2024
 "After crossing Rs 8 trn, SBI aims Rs 10 trn home loan book by Mar'27: Setty")
RBI's risk weights seen as macro prudential step to support economic growth
This move will free up Rs 40,000 crore capital for banks translating into Rs 4 trillion additional loanable funds
 "RBI's risk weights seen as macro prudential step to support economic growth")
Bridgetown Research secures $19 m to scale AI-Powered biz research agents
The company is developing AI-powered agents for business research and analysis, targeting private equity, consulting, and corporate strategy companies
 "Bridgetown Research secures $19 m to scale AI-Powered biz research agents")
India's venture capital funding jumps 70% in January, outpaces China
Notable VC funding deals announced in India during the first month of the year include fundraising by building materials platform Infra
 "India's venture capital funding jumps 70% in January, outpaces China")
Micro-credit disbursements decline 35.8% in Q3 of current fiscal: MFIN
The average loan amount disbursed per account during the third quarter was Rs 51,691 crore
 "Micro-credit disbursements decline 35.8% in Q3 of current fiscal: MFIN")
40,000 taxpayers under lens for deductions, CBDT targets TDS defaulters
The focus will be on habitual violators, cases showing significant gaps between tax deductions and advance tax payments, instances involving frequent revisions to deductee details
 "40,000 taxpayers under lens for deductions, CBDT targets TDS defaulters")