Page 145 - Finance News

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

Rupee's Real Effective Exchange Rate climbs to 108.14 in Nov: RBI report

REER represents the inflation-adjusted, trade-weighted average value of a currency against its trading partners

Outward remittances under LRS rise 10.6% in October, shows RBI data

In the August-October quarter of financial year 2024, Indians remitted $8.37 billion overseas, compared to $9.05 billion during the same period last year

NRI deposits see $12 bn inflows in April-October FY25, shows RBI data

The NRI deposit schemes include foreign currency non-resident (FCNR) deposits, non-resident external (NRE) deposits, and non-resident ordinary (NRO) deposits

RBI net sells $9.2 bn in October, highest monthly sale since September 2022

The rupee had breached the 84 per dollar mark on October 11 of the current year

Rupee hits new low for sixth straight session; settles at Rs 85.20

Liquidity deficit widens to 7 month high

Fintech disbursements rise 21.3% in H1FY25, disbursal value grows 40%

Disbursals were also higher by 9.5 per cent from 51.5 million in H2FY24, according to data by the first self-regulatory organisation in fintechs