Page 155 - Finance News

PM internship scheme looks to bridge gap in employability: FM Sitharaman

Overall, over 91,000 opportunities have been posted on the internship portal, and 155,000 applicants have registered to apply

RBI imposes Rs 28.30 lakh penalty on SG Finserve for non-compliance

The company's financial statements for FY23 revealed inter alia, non-compliance with the specific conditions of the CoR

RBI pitches for reducing cost, time of cross-border overseas remittances

Under bilateral arrangements, cross-border payment linkages have already been established by India with Singapore, UAE, Mauritius, Sri Lanka, Nepal, etc

Heavy reliance on AI can lead to concentration risks, says RBI governor

Banks have to ride on the advantages of AI and Bigtech and not allow the latter to ride on them, says Das

Feasibility of expanding RTGS to settle transactions can be explored: Das

Divergence in global monetary policies can be expected to lead to volatility in capital flows and exchange rates, which may disrupt financial stability, says Das

Rupee drops to lifetime low of 84.07 on high dollar demand by foreign banks

The rupee has remained under pressure this month due to sustained outflows from local equities

State Bank of India talent emerges high-yield asset for pvt sector banks

Regulatory comfort drives bank boards to appoint SBI officials for stability

Collateral anchor: Fintech companies steer towards secured lending

This comes after RBI raised risk weights on unsecured personal loans

Centre releases finance commission grant for RLB's in Andhra, Rajasthan

These funds, however, cannot be used for salaries or establishment costs

Rupee weakens below 84 against US dollar amid FPI selloff, costlier oil

Took two years after hitting 83/$ due to timely intervention

Forex reserves breaks 7-week rising streak, stand at $701 bn as of Oct 4

In the period for which the forex reserves data pertains, the rupee had logged its worst week since May and had slipped 0.3% week-on-week

RBI nudges fintechs to consider granting same-day loans to street hawkers

Loans are repaid within 24 hours and seek to bolster financial inclusion at the bottom of the pyramid

US continues to be largest source of FDI in India: RBI annual census

Out of the 41,653 entities, which responded in the latest census, 37,407 reported foreign direct investment (FDI) and/or overseas direct investment (ODI) in their balance sheets for March 2024

Group representing business correspondents seeks raise, writes to govt

Model is critical for financial inclusion but commissions have not been revised 'in a decade'

SBI-led panel against 18% GST on co-lending; submits report to FinMin

Says co-lending should be restricted to priority sector lending and not extended to other areas

LIC reduces entry age for its new endowment plan to 50 years from 55

Endowment is an insurance policy that provides life cover and maturity benefit

Funds raised by NBFCs through domestic bonds top Rs 3.2 trn in H1 FY25

More than Rs 74,507 crore was raised in September alone, making it the highest amount in FY25

UPI volume up 52% in H1CY24, transaction value rises 40%: Report

A decreasing average ticket size of transactions on the payments system indicates that it is increasingly being used to conduct small-value transactions

RBI asks REs to conduct internal risk assessments for terror financing

There is always a likely exposure to elevated ML, TF, and PF risks in an ever-changing business environment and the increasing level of complexities in banking and financial products

RBI approves Partha Pratim Sengupta as MD and CEO of Bandhan Bank

Ex-SBI Sengupta was credited for turning around IOB