Page 126 - Finance News
UPI transactions continue upward trajectory, hit all-time high in Dec 2024
For the full calendar year 2024, UPI-enabled platforms handled approximately 172 billion transactions, reflecting a 46 per cent annual increase
 "UPI transactions continue upward trajectory, hit all-time high in Dec 2024")
Rupee falls 3 paise to 85.78 against US dollar during early trade
Forex traders said the US dollar gained against most currencies during 2024 and continued to remain on a strong footing this year
 "Rupee falls 3 paise to 85.78 against US dollar during early trade")
Rupee may dip to all-time low on Fed outlook-spurred dollar rally
The dollar index rose 0.7 per cent on Thursday, hitting 109.54, helped by the US jobless claims data
 "Rupee may dip to all-time low on Fed outlook-spurred dollar rally")
Rupee closes at fresh low of 85.76 against dollar despite RBI intervention
State-run banks were spotted selling dollars to the tune of $800 million to $1 billion, traders said
 "Rupee closes at fresh low of 85.76 against dollar despite RBI intervention")
NBFCs seek reforms in pre-budget talks to boost liquidity, ease challenges
One of the primary requests made by the FIDC was for a reduction in the loan amount threshold for enforcing security interest under the SARFAESI Act, from Rs 20 lakh to just Rs 1 lakh
 "NBFCs seek reforms in pre-budget talks to boost liquidity, ease challenges")
India's credit market reflects K-shaped pattern, says Nomura report
Share of consumption loans is increasing, while share of asset-creating loans is falling
 "India's credit market reflects K-shaped pattern, says Nomura report")
States' fundraising may get expensive amid record borrowing, say investors
Long-term investors such as insurance companies, provident funds and pension funds are major investors for state debt
 "States' fundraising may get expensive amid record borrowing, say investors")
High rates, declining finance impacting exporters' competitiveness: CII
Budhia suggested the government extend the interest equalisation scheme, which ended on December 31, 2024, for three years for all manufacturing exporters
 "High rates, declining finance impacting exporters' competitiveness: CII")
Rupee falls 11 paise to 85.75 against US dollar during early trade
Forex traders said the dollar gained against most currencies during the year 2024 and continued to remain on a strong footing this year
 "Rupee falls 11 paise to 85.75 against US dollar during early trade")
BS Poll: Rupee to stay under pressure, seen at 86 to dollar by March-end
The currency hit a new closing low of 85.65 in the first trading session of 2025
 "BS Poll: Rupee to stay under pressure, seen at 86 to dollar by March-end")
UPI transactions surge to record 16.73 bn in Dec; value at Rs 23.25 trn
Interestingly, for the entire 2024, the volume increased by 46 per cent to around 172 billion transactions, compared to 118 billion in 2023
 "UPI transactions surge to record 16.73 bn in Dec; value at Rs 23.25 trn")
VFS Capital seeks small finance bank licence from RBI under 'on-tap' scheme
VFS provides loans to individual female members mainly from rural areas in a joint liability group (JLG) with each group consisting of five members
 "VFS Capital seeks small finance bank licence from RBI under 'on-tap' scheme")
Credit growth to NBFCs declines to 7.8% in November, shows RBI data
Retail credit growth also declined to 16.3% due to drop in personal and vehicle loans, and rise in credit card outstanding
 "Credit growth to NBFCs declines to 7.8% in November, shows RBI data")
Transforming EPFO: Can it pivot into a user-friendly organisation?
With the number of rejections rising to almost a third of claims, the government is taking steps to radically reform the country's largest social security platform in order to ease payouts of benefits
 "Transforming EPFO: Can it pivot into a user-friendly organisation?")
98.12% of Rs 2,000 notes returned, Rs 6,691 cr worth still with public: RBI
The total value of Rs 2000 banknotes in circulation, which was Rs 3.56 trillion at the close of business on May 19, 2023, declined to Rs 6,691 crore at the close of business on December 31, 2024
 "98.12% of Rs 2,000 notes returned, Rs 6,691 cr worth still with public: RBI")
RBI Guv Malhotra asks staff to emphasise customer centricity in NY message
The central bank is facing challenges on the currency front, which has been under pressure in the last few months
 "RBI Guv Malhotra asks staff to emphasise customer centricity in NY message")
Heavy supply schedule nudges govt bond yields higher as 2025 kicks off
The 10-year bond yield was at 6.7742 per cent as of 10:10 a.m. IST on Wednesday, compared with its previous close of 6.7597 per cent
 "Heavy supply schedule nudges govt bond yields higher as 2025 kicks off")
FinMin asks banks, insurance firms to expedite public grievances resolution
A meeting chaired by Financial Services Secretary M Nagaraju was held in which complainants, PSBs, public sector insurance companies (PSICs) and regulators participated
 "FinMin asks banks, insurance firms to expedite public grievances resolution")
Sasan Power makes $150 million bullet payment on debt with IIFCL
"This repayment will bolster Sasan Power's debt coverage metrics, improve liquidity, and enhance its credit rating," the company stated in its press release
 "Sasan Power makes $150 million bullet payment on debt with IIFCL")
Rupee falls 5 paise to 85.69 against US dollar during early trade
Forex traders said the dollar index (DXY) and US 10-year bond yields have been on an uptrend largely owing to the Federal Reserve's cautious stance