Page 127 - Finance News

Bank loan growth slows for fifth month in Nov amid stricter lending rules

Banks' credit increased by 11.8 per cent year-on-year last month, slower than the 16.5 per cent rise in November 2023

Rupee tipped to weaken gradually amid dollar strength as 2025 kicks off

The local unit dipped to its sixth consecutive record closing low on Tuesday, pressured by a decline in its regional peers

CRISIL analysis: Three things that could curb bank credit growth this year

The RBI's increase in risk weights on bank lending to non-banking financial companies (NBFCs) and on unsecured loans has pruned credit growth in these segments

RBI likely fine-tuned forex market intervention by slowing dollar sales

By October-end, the RBI's net short position in the forward market stood at $49.2 billion, up significantly from $14.6 billion in September

I-T dept set to enhance operations in 2025 by adopting PRUDENT approach

The chairman noted that the past year saw significant progress, with over 2.4 lakh grievances resolved, including 1.75 lakh through the E-nirvan platform

NPCI extends market cap deadline for UPI apps by two years to end of 2026

Apex payments body also relaxes user onboarding limits for WhatsApp Pay, enabling messaging firm to onboard all of its India users

Funding via primary mkt surges, while secondary mkt funding slows in 2024

Over 70 listed companies raised Rs 1.13 trillion through the QIP route. Vedanta, Zomato and Adani Energy Solutions each raised over $1 billion in fresh capital via this route

States, UTs to borrow Rs 4.7 trillion via govt securities in Q4FY25

In 2023-24, states contained their GFD at 2.9 per cent of GDP, within the Fiscal Responsibility Legislation (FRL) limit of 3 per cent

Govt retains interest rates on small savings schemes for Jan-Mar quarter

The interest rates for popular Public Provident Fund (PPF) and post office savings deposit schemes too have been retained at 7.1 per cent and 4 per cent, respectively

RBI lifts curbs on Mumbai-based Sangli Sahakari Bank after 2.5 years

The bank's DICGC liability was down to Rs 36.97 crore from Rs 49.33 crore in September 2024. The company improved its net worth to Rs 5.41 crore as budgeted

As NPCI lifts limits, WhatsApp Pay can now extend UPI services to all users

With this development, WhatsApp Pay can now extend UPI services to its entire user base in India

NPCI delays UPI payments market share cap in relief for PhonePe, Google Pay

The mandate, which was to take effect from the end of 2024, will now kick in at the end of December 2026

Rupee falls 13 paise to all-time closing low of 85.65 against dollar

Forex traders said the rupee has been under continued pressure amid the Federal Reserve's cautious stance on rate cuts and the "Trump factor" driving up the dollar index

Sharp rise in gold loan defaults worries banks and NBFCs, increase by 30%

Commercial banks reported a 62 per cent increase in gold loan NPAs, which rose to Rs 2,445 crore in June 2024 from Rs 1,513 crore in March 2024

Rupee falls 9 paise to 85.61 against US dollar in early trade today

Forex traders said the rupee has been under continued pressure amid the Federal Reserve's cautious stance and the 'Trump factor' driving up the dollar index (DXY) and US 10-year yields

Government extends deadline for direct tax Vivad Se Vishwas Scheme

Under the scheme, penalty charges vary based on the date of payment

Looking ahead: Financial sector braces for leadership changes in 2025

Two public sector banks, Punjab National Bank (PNB) and Indian Bank, will welcome new leaders at the start of the year as their current incumbents retire on December 31, 2024

Net claims of non-residents on India declined by $19.8 bn in Q2: RBI

Higher rise in Indian residents' overseas financial assets ( $ 66.5 billion) compared to that in the foreign-owned assets in India ( $ 46.7 billion) led to a decline in net claims of non-residents

RBI proposes lookup facility for NEFT, RTGS; banks to comply by April 1

This facility will allow users to view and verify the name of the beneficiary before initiating a transaction, similar to the existing feature on India's real-time payment systems

Raise awareness about cyber frauds, identify mule accounts: RBI report

According to RBI's Report on Trend and Progress of Banking in India 2023-24, number of bank frauds witnessed a significant year-on-year increase in the first half of the current fiscal to 18,461 cases