Page 131 - Finance News
Gen AI's integration with financial sector to foster innovation: SBI chief
He said with the advent of technology-based banking products and the growing use of these products by vulnerable sections of society, consumer education and protection are necessary
 "Gen AI's integration with financial sector to foster innovation: SBI chief")
Agri credit disbursement hits Rs 19.28 trillion in first 3 quarters of FY25
In order to boost the credit to the rural sector with the help of effective and hassle-free agriculture credit, the government has been fixing annual targets for GLC
 "Agri credit disbursement hits Rs 19.28 trillion in first 3 quarters of FY25")
Rupee performed better than currencies of Canada, Korea, Brazil: Eco Survey
The Real Effective Exchange Rate (REER), which reflects the real purchasing power of the currency, steadily appreciated from 103.2 in April 2024 to 107.2 in December 2024, the survey added
 "Rupee performed better than currencies of Canada, Korea, Brazil: Eco Survey")
Forex reserves increase $5.57 billion to $629.55 billion, shows data
In the previous reporting week, the overall kitty had dropped $1.888 billion to $623.983 billion
 "Forex reserves increase $5.57 billion to $629.55 billion, shows data")
Paring initial losses, Rupee settles flat at 86.62 against dollar
At the interbank foreign exchange, the rupee opened on a weak note at 86.63 and touched a high of 86.59 and a low of 86.65 against the American currency during the session
 "Paring initial losses, Rupee settles flat at 86.62 against dollar")
Eco Survey asks financial regulators to balance stability, innovation
The financial sector is primarily governed through independent regulatory bodies (IRBs) RBI, Sebi, IRDAI, PFRDA and IBBI -- with FSDC having a broader financial stability mandate
 "Eco Survey asks financial regulators to balance stability, innovation")
RBI injects $5.1 billion liquidity through oversubscribed FX swap auction
The RBI accepted 28 bids, totaling $5.1 billion, in the auction and the premium cut-off was set at 96.81 paisa, slightly below the prevailing market level before the auction results were announced
 "RBI injects $5.1 billion liquidity through oversubscribed FX swap auction")
Union Budget FY26: Key banking amendments in the spotlight, yet again
Among the most-watched moves pertaining to the banking sector will be possible changes to the RBI Act, the Banking Regulation Act and the Banking Companies Act
 "Union Budget FY26: Key banking amendments in the spotlight, yet again")
Banks to NBFCs, customer complaints rise as redressal system slows down
Complaints about mobile or e-banking form majority of those received by the RBI ombudsman against banks
 "Banks to NBFCs, customer complaints rise as redressal system slows down")
Rupee falls 3 paise to 86.65 against US dollar during early trade
Forex traders said the rupee continued to face pressure due to sustained foreign fund outflows
 "Rupee falls 3 paise to 86.65 against US dollar during early trade")
US tariff worries may push rupee to all-time low before upcoming budget
Trump is planning to impose tariffs on Canada and Mexico on Saturday and is considering fresh tariffs on China
RBI to cut rates to 6.25% in Feb, followed by one more cut next qtr: Poll
In its Feb 1 budget, the government is not expected to increase infrastructure spending, a main driver of growth in past years, leaving the onus on the RBI to revive the $4 trillion economy
More the merrier? A tale of multiple self-regulatory organisations
Mint Road positions these entities as the cornerstone of compliance, but will the numerous voices unite the sector or create conflict?
 "More the merrier? A tale of multiple self-regulatory organisations")
Fighting digital fraud: From KYC processes to advanced authentication
To prevent fraud, we need better know-your-customer (KYC) processes
 "Fighting digital fraud: From KYC processes to advanced authentication")
SFBs ready with systems, governance to become universal banks: MDs & CEOs
One major benefit of becoming a universal bank is that public perception will change
 "SFBs ready with systems, governance to become universal banks: MDs & CEOs")
Banks to continue good run with caution and innovation, say PSB CEOs
The economy is very strong and on sound footing and we, as banks, typically mirror the economy
 "Banks to continue good run with caution and innovation, say PSB CEOs")
Customer service, higher interest rates to drive pvt banks' deposit growth
More important is customer service, like these days, digital banking, mobile banking, our internet banking, how these are synchronised
 "Customer service, higher interest rates to drive pvt banks' deposit growth")
Regulations in financial services key to ensuring customer protection
The new generation requires speed, convenience, completeness of transactions, and continuous support
 "Regulations in financial services key to ensuring customer protection")
Stress in MFIs, MSME space should stabilise in coming months: Experts
NBFCs can assess a customer differently and provide a credit solution that differentiates them from banking (companies)
 "Stress in MFIs, MSME space should stabilise in coming months: Experts")
Regulators look at long-term spirit, fintechs had time to comply: Experts
The fintech industry players attend a panel discussion at the Business Standard BFSI Insight Summit 2024
 "Regulators look at long-term spirit, fintechs had time to comply: Experts")