Page 152 - Finance News

MobiKwik launches fixed deposit product with up to 9.5% interest rate

MobiKwik Fixed Deposits allows users to start investing with as little as Rs 1,000 and earn up to 9.5 per cent returns per annum without opening a new bank account, it said

Avaana raises $135 mn for climate fund to fuel climate-tech startups

Incidentally, GCF, the world's largest climate fund, is making its first investment in a climate venture fund in India through Avaana Climate and Sustainability Fund

Can't risk another bout of inflation, need cautious approach: RBI minutes

The MPC, which consists of three Reserve Bank of India (RBI) and three external members, had kept the repo rate unchanged at 6.50 per cent for a tenth straight policy meeting

Digital payments double in 3 years, cash transactions fall: RBI report

The study highlights that the share of digital payments more than doubled between 2021 and 2024, with UPI playing a key role in this transformation, particularly for small-value purchases

Rupee trades 1 paisa higher at 84.07 against US dollar amid weak equities

According to analysts, the rupee has been under pressure due to the continuous selling of Indian equities by FIIs in pursuit of better gains from the Chinese market

RBI's lending ban cannot be the answer to India's credit excesses

Excesses spike in post-pandemic inflation and an uneven recovery that bypassed working-class families has aggravated the challenge

RBI adds 13 more entities in 'alert list' of unauthorised forex trading

The Alert List contains names of entities which are neither authorised to deal in forex under the Foreign Exchange Management Act, 1999 (FEMA) nor authorised to operate electronic trading platform

Union Bank of India to take call on raising Rs 10K crore next quarter

Retains loan growth guidance of 11-13% despite slow capex

RBI move to slow down gold loan growth, lead to uptick in default: CRISIL

"Potentially, this could impact gold loan disbursements during the transition phase and curb growth in the business," the note by Crisil said

Sebi directs regulated entities to end ties with unregistered advisors

Issues draft circular for recognising digital platforms for associations with registered entities

StanChart to double down on SME, affluent, wealth banking segments

After Mumbai, the bank is planning to open such centres in some other key markets in India to address the requirements of global Indians

Loan portfolio of microlenders decline 2.3% in Q1, NPAs rise: Report

Over-leveraging among the borrowers is being flagged as a key aspect, impacting asset quality

58 luxury goods and 24 services may face 28% GST slab in upcoming review

The Council is planning to move 58 goods and 24 services to the 28% Goods and Services Tax (GST) slab, including Botox services, luxury spa and salon offerings, and premium stationery, among others

RBI's 'TReDS' platform bridging $600 bn funding gap for smaller firms

Trade Receivables Discounting System (TReDS) introduced about a decade ago by the Reserve Bank of India has seen the engineering company's cost of funds drop by 2.5 percentage points

Rupee turns flat at 84.07 against US dollar on foreign fund outflow

On Monday, the rupee settled flat at 84.07 against the US dollar, a tad higher from its all-time low of 84.10 recorded on October 11

Indian Rupee faces slow grind lower on oil and China rotation risks

Barclays Plc. points to record-high gold prices, a stronger dollar, and increased risk aversion as reasons why the central bank may allow the rupee to decline

SBI to outsource running of 40% of onsite ATMs, marking largest such order

Lender to issue proposal in 45 days, had 63,580 such machines in FY24

Softy ice cream mix not dairy produce, attracts 18% GST, rules AAR

The Authority of Advance Ruling (AAR) observed that each ingredient has a specific role to make the soft serve smooth and creamy in texture

Navi Finserv cancels Rs 100 cr bond issuance plan after RBI action

The central bank had last week barred the NBFC from sanctioning and disbursing additional loans for charging exorbitant interest rates

FinMin seeks expenditure proposals for 1st supplementary demands for grant

The first batch of Supplementary Demands for Grants for 2020-21 is proposed to be placed before Parliament in the ensuing monsoon session, the Finance Ministry said in an office memorandum