Page 156 - Finance News
MFI CreditAccess reports rise in stress in Q2; collection efficiency dips
The collection efficiency, including arrears, declined to 96.2 per cent in Q2 FY25 from 97.9 per cent in Q1 FY25
 "MFI CreditAccess reports rise in stress in Q2; collection efficiency dips")
NCGTC to pay Bandhan Bank extra Rs 315 cr for claims under CGFMU scheme
Additionally, since they have already settled the bank's first claim of Rs 916 crore, they will pay an additional claim of Rs 314.68 crore to the bank
 "NCGTC to pay Bandhan Bank extra Rs 315 cr for claims under CGFMU scheme")
RBI asks asset reconstruction firms to standardise credit bureau reporting
The Reserve Bank of India has been publicly asking supervised entities to ensure compliance with norms and that consumer interest is protected
 "RBI asks asset reconstruction firms to standardise credit bureau reporting")
RBI asks ARCs to become members of all credit information companies
ARCs are also asked to rectify the rejected data received from CICs and upload the same with the CICs within seven days of receiving such data
 "RBI asks ARCs to become members of all credit information companies")
UPI transactions volume increases 52% to 78.97 bn in Jan-Jun: Report
The number of UPI transactions rose significantly from 8.03 billion in January 2023 to 13.9 billion by June 2024. This growth in volume was matched by an increase in transaction value
 "UPI transactions volume increases 52% to 78.97 bn in Jan-Jun: Report")
'Buy India' sovereign bonds chorus grows as demand outpaces supply
The supply crunch comes just as Indian bonds have emerged as top performers among major Asian nations, driven by their recent inclusion in global debt indexes
 "'Buy India' sovereign bonds chorus grows as demand outpaces supply")
RBI asks banks to use info from all relevant sources for risk assessment
The RBI said that REs should use information obtained from all relevant internal and external sources for the IRA exercise
 "RBI asks banks to use info from all relevant sources for risk assessment")
Equity mutual fund inflow marks 10% decline to Rs 34,419 cr in Sep
The latest flow also marks the 43rd consecutive month of net inflows in equity funds, data with the Association of Mutual Funds in India (AMFI) showed on Thursday
 "Equity mutual fund inflow marks 10% decline to Rs 34,419 cr in Sep")
Rupee rises 1 paisa to 83.95 against US dollar during early trade
However, an increase in global oil prices and heavy foreign fund outflows capped further recovery in the domestic currency
 "Rupee rises 1 paisa to 83.95 against US dollar during early trade")
Retail inflation in September likely overshot RBI's 4% target: Poll
Food items, especially vegetables and other perishables, which make up a significant share of overall household spending in the country, saw an uptick in prices
 "Retail inflation in September likely overshot RBI's 4% target: Poll")
Spending Boost: Soon, pay up to Rs 1,000 without entering PIN on UPI Lite
The daily transactions on UPI crossed 501 million in September, the highest ever since UPI turned operational
 "Spending Boost: Soon, pay up to Rs 1,000 without entering PIN on UPI Lite")
Hopes dashed but prudent approach: Realtors on unchanged repo rate
The industry experts believed that a rate cut would have helped the momentum to continue amid the festive quarter
 "Hopes dashed but prudent approach: Realtors on unchanged repo rate")
Growth at any cost approach of some NBFCs poses risks: RBI Governor
Governor Das warns of action for failure to do so; directs them to review compensation practices linked to targets
 "Growth at any cost approach of some NBFCs poses risks: RBI Governor")
Lenders not allowed to levy foreclosure charges on MSEs, says RBI
Analysts said that the implementation of the norms will negatively impact the income of these lenders while increasing pre-payment of loans and balance transfers
 "Lenders not allowed to levy foreclosure charges on MSEs, says RBI")
Over 3.5 mn I-T audit reports filed on e-filing portal up to Oct 7: FinMin
There is an increase in the filing of TARs for the AY 2024-25 by around 4.8 per cent compared to the filings of TARs on the due date for AY 2023-24
 "Over 3.5 mn I-T audit reports filed on e-filing portal up to Oct 7: FinMin")
India bond yields drop on FTSE Russell index inclusion, RBI stance shift
Global index provider FTSE Russell said it will include India's sovereign bonds in the Emerging Markets Government Bond Index from September 2025, potentially drawing billions of dollars into bonds
 "India bond yields drop on FTSE Russell index inclusion, RBI stance shift")
RBI misses chance to up housing demand by keeping repo rate steady: Credai
Credai National President Boman Irani said, "As RBI remains cautious regarding potential inflationary pressures, the central bank's decision to keep the repo rate unchanged at 6.5 per cent
 "RBI misses chance to up housing demand by keeping repo rate steady: Credai")
RBI MPC highlights: Inflation expected to remain elevated during September, October, says Das
RBI Monetary Policy Meeting October 2024 highlights: Catch all the latest news updates on RBI's monetary policy announcements here
 "RBI MPC highlights: Inflation expected to remain elevated during September, October, says Das")
RBI MPC changes stance to neutral; keeps repo rate unchanged at 6.5%
MPC to 'remain unambiguously focused' on a durable alignment of inflation with the target, while supporting growth
RBI MPC: Short-term inflation risk remains in focus, says Shaktikanta Das
In a press statement after the RBI's Monetary Policy announcement, RBI Governor Shaktikanta Das said the inflation worries have eased but there is a need for greater vigilance