Page 140 - Finance News

Deposit growth slightly outpaces credit growth at 11.21%: RBI data

Credit growth had been exceeding deposit growth since the fortnight ending March 25, 2022, leading to a widening gap that reached as much as 700 basis points (bps) at its peak

Rupee depreciates to a new intraday low of 84.52 against US dollar

The rupee had appreciated to a high of Rs 84.22 per dollar on Wednesday as the dollar index fell by 0.7 per cent after surging for the majority of the month

FinMin proposes to raise insurance FDI to 100%, composite licence provision

The Department of Financial Services (DFS) has sought public comments on the proposed amendments by December 10

Rupee declines on FPI outflows, avoids record low on RBI intervention

The rupee closed at 84.4850 against the U.S. dollar, down from its close of 84.4525 in the previous session

Holistic new tax code needed for Viksit Bharat, say experts ahead of Budget

There is a need for simplification of the tax laws, their consistency with focus on compliance and widening of the tax base, said Rajat Mohan, Senior Partner, AMRG & Associates

Most CFOs in India see GenAI boosting tax function efficiency: Report

Globally, 87 per cent of leaders echo this sentiment, underscoring GenAI's potential to revolutionize tax functions worldwide, said a EY Tax and Finance Operations (TFO) Survey 2024

Rupee flat amid month-end dollar bids and likely RBI intervention

Dollar bids from foreign banks and importers weighed on the rupee, a trader at a private bank said. Other Asian currencies were mixed, while the dollar index trimmed losses after falling 0.7%

RBI to delay cutting rates to early 2025 amid inflation concerns: Poll

Twenty-one of 48 common contributors who provided rate forecasts last month and this month pushed their expectation for the first rate cut from December to February or later

BCFI to push for SRO status; explores solo, strategic partnership options

BCs have of late been sounding off to the Ministry of Finance, warning that the channel is becoming increasingly unviable

Bank of India, BoB mop up Rs 8,500 crore via bonds amid strong demand

SBI has raised Rs 50,000 crore through domestic bonds in FY25

A year after RBI notified PA-CB norms, only four entities receive licence

PAs-CB are entities that enable cross-border payment transactions for import and export

SBI's fundraising via bonds touches Rs 50,000 crore in FY25 to date

The country's biggest lender State Bank of India earlier this month had raised Rs 10,000 crore through its seventh infrastructure bond issuance

RBI working to create robust data analytics ecosystem: Dy Guv Swaminathan

Addressing 'High-level Policy Conference of Central Banks from the Global South' here last week, he said the supervision of banks and financial institutions is a relatively recent development

Fake currency notes of Rs 500 & Rs 2,000 surge threefold in 3 years: FinMin

Finance Ministry data shows a fourfold rise in fake Rs 500 notes since 2018 and Rs 2,000 counterfeits tripled since 2021

Fiscal deficit likely to be at 4.75% in FY25; capex at Rs 62K cr: IndRa

The revenue expenditure, excluding subsidies, will be 0.12 per cent of GDP, lower than the budget estimate

Loan book of Axis Bank's GIFT City unit doubles to $4 billion in 5 years

The bank unveiled a spacious IBU office at GIFT City here that spans nearly 8,000 square feet and is nearly three times bigger than the previous facility located here

Rupee falls 15 paise to 83.44 against US dollar during early trade

However, a decline in the dollar index and a marginal fall in the Brent crude index prevented further losses in the domestic unit

FACE's ambitious goal: Uniting 75% of fintech players in three years

One of the major focus areas for the SRO-FT includes improving communication among members regarding compliance and regulation

Govt to revamp infrastructure lender IFCI by shutting its lending ops

The government plans to infuse Rs 500 crore into IFCI this year

Banks eye Rs 1 trillion through infrastructure bond issuances in FY25

So far, lenders have raised Rs 74,256 cr