Page 129 - Finance News

Rupee hits record low of 85.395 on strong NDF dollar bids; RBI may step in

Rupee declined to 85.3950 to the dollar, eclipsing its previous all-time low of 85.2825 hit on Thursday

Rupee falls to new low of 85.27 as importers stock up dollar at month end

The local currency had settled at Rs 85.20 per dollar on Wednesday

RBI sets up 8-member panel to develop framework for ethical use of AI

The committee will recommend a framework including governance aspects for responsible, ethical adoption of AI models / applications in the Indian financial sector

Plans underway for bigger role for TReDS, to enrol million MSMEs in 2 years

It is also expected that the Union Budget for FY26 may have more measures for MSME financing, with a bigger role for TReDS

Monetary policy stance may have led to demand slowdown in H1: Finmin review

India's economic growth slowed more sharply than anticipated in the July-September period of FY25, dropping to a seven-quarter low of 5.4 per cent

Bank frauds jump to Rs 21,367 crore in first half of FY25, shows RBI data

In April - September period of FY24, while there were 14,480 incidences of frauds, the amount involved was only Rs 2,623 crore

RBI flags unsecured lending, private credit; calls for enhanced vigilance

Banks' gross NPA ratio further falls to 2.5 per cent in Sep 2024

Small ticket transactions drag avg retail payments value by 48% in 3 years

The increasing adoption of digital transactions is evident in the robust growth of India's real-time payments system, Unified Payments Interface (UPI)

IndusInd Bank seeks to offload Rs 1,573 crore of microfinance loans

Bank sets reserve price of Rs 85 crore to sell loans from over a million accounts

NBFCs need to further diversify funding sources to mitigate risk: RBI

Reduction in NBFCs' reliance on banks for funds bodes well for financial stability, RBI says

Citing constitutional violations, PIL in SC seeks abolition of TDS system

The PIL challenged the tax deducted at source or TDS framework under the Income Tax Act, which mandates the deduction of tax at the time of payment by the payer

Rupee plunges 12 paise to close at new all-time low of 85.27 against dollar

At the interbank foreign exchange, the rupee opened weak at 85.23 and touched the lowest-ever level of 85.28 against the greenback during intraday trade

Rupee falls 10 paise to hit new record low of 85.25 against US dollar

Positive sentiment in domestic equity markets failed to support the Indian currency as the greenback index remained elevated

Rupee likely to stay near record lows as strong dollar, US yields weigh

Long term US yields are at multi-month highs, further boosting the greenback

Centre set to transfer management of ERF scheme to CPCB from January 1

The decision is aimed at addressing longstanding issues, including the underutilisation of the fund and significant delays in disbursing compensation to victims of industrial accidents

Centre appoints Arunish Chawla as new Revenue Secretary in FinMin

Chawla will take over from Economic Affairs Secretary Ajay Seth, who is holding the additional charge of Revenue Secretary

PPI wallets register 20% drop to 1.14 bn in November, says RBI data

But prepaid payment instrument cards grow on a smaller base

In a first, micro insurance premium in life segment tops Rs 10k cr in FY24

Private life insurers dominate the segment, accounting for over Rs 10,708.4 crore, while the state-owned Life Insurance Corporation of India (LIC) contributed nearly Rs 152 crore

Surety bonds vs bank guarantees: A financial shift in project risk-sharing

The surety bonds market in India has the potential to generate billions of dollars in premiums over the coming years

Banks' average daily reserves fall after FIT framework: RBI report

RBI introduced ASISO facility in August 2020 to offer greater flexibility in managing day-end cash reserve ratio balances