Page 126 - Finance News
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")
Fiscal, monetary measures to boost consumption, pvt investment, says FM
On the monetary side, the Reserve Bank on Friday slashed the policy rate by 25 basis points, the first rate cut in five years to support growth
 "Fiscal, monetary measures to boost consumption, pvt investment, says FM")
Market forces decide value of rupee, RBI not worried, says Guv Malhotra
He further said that RBI took on board the current rupee-dollar rate while working out growth and inflation projections for the next financial year
 "Market forces decide value of rupee, RBI not worried, says Guv Malhotra")
Slowing growth of unsecured loans satisfactory: RBI Governor Malhotra
The RBI also noted that bank funding to non-banking finance companies (NBFCs) has declined following the increase in risk weight on bank loans to shadow banks
RBI to introduce exclusive internet domains for banks and non-banks
RBI proposes additional factor authentication (AFA) for online international 'card-not-present' transactions
 "RBI to introduce exclusive internet domains for banks and non-banks")
SaaS unicorn Perfios acquires financial crime management company Clari5
The company said the acquisition strengthens its fraud and risk management (FRM) capabilities and drives product-led synergies. Perfios said the move solidifies its presence across key global markets
 "SaaS unicorn Perfios acquires financial crime management company Clari5")
RBI ends rate cut wait; Sanjay Malhotra stresses 'less restrictive' policy
First repo cut in 5 yrs, of 25 bps to 6.25%, set to ease home loan rates; MPC keeps 'neutral' stance
Intervention aims to maintain stability, orderliness: RBI Governor Malhotra
Market participants said that the Governor's statement suggests that the RBI is indicating a willingness to allow market-driven depreciation while maintaining some level of intervention
 "Intervention aims to maintain stability, orderliness: RBI Governor Malhotra")
Finance ministry may consider rate cut for small savings schemes in FY26
The central bank on Friday reduced the repo rate by 25 basis points to 6.25 per cent from 6.5 per cent following its first monetary policy review of the year
 "Finance ministry may consider rate cut for small savings schemes in FY26")
RBI to postpone digital deposit buffer mandate for banks by 1 year
Originally proposed in July 2024, the RBI's guidelines required banks to set aside an additional 5 per cent 'run-off factor' on digitally accessible retail deposits
 "RBI to postpone digital deposit buffer mandate for banks by 1 year")
Infibeam Avenues' subsidiary receives approval to offer UPI payments
Axis Bank will act as the payment service provider (PSP) bank for RediffPay
 "Infibeam Avenues' subsidiary receives approval to offer UPI payments")
India's forex reserves rise $1.05 bn to $630.607 bn, shows RBI data
This is second consecutive week of an increase in the reserves, which have otherwise been on a declining trend for the last few weeks due to revaluation along with forex market interventions by RBI
 "India's forex reserves rise $1.05 bn to $630.607 bn, shows RBI data")