Page 157 - Finance News
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
 "Rupee trades 1 paisa higher at 84.07 against US dollar amid weak equities")
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's lending ban cannot be the answer to India's credit excesses")
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
 "RBI adds 13 more entities in 'alert list' of unauthorised forex trading")
Union Bank of India to take call on raising Rs 10K crore next quarter
Retains loan growth guidance of 11-13% despite slow capex
 "Union Bank of India to take call on raising Rs 10K crore next quarter")
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
 "RBI move to slow down gold loan growth, lead to uptick in default: CRISIL")
Sebi directs regulated entities to end ties with unregistered advisors
Issues draft circular for recognising digital platforms for associations with registered entities
 "Sebi directs regulated entities to end ties with unregistered advisors")
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
 "StanChart to double down on SME, affluent, wealth banking segments")
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
 "Loan portfolio of microlenders decline 2.3% in Q1, NPAs rise: Report")
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
 "58 luxury goods and 24 services may face 28% GST slab in upcoming review")
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
 "RBI's 'TReDS' platform bridging $600 bn funding gap for smaller firms")
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
 "Rupee turns flat at 84.07 against US dollar on foreign fund outflow")
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
 "Indian Rupee faces slow grind lower on oil and China rotation risks")
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
 "SBI to outsource running of 40% of onsite ATMs, marking largest such order")
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
 "Softy ice cream mix not dairy produce, attracts 18% GST, rules AAR")
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
 "Navi Finserv cancels Rs 100 cr bond issuance plan after RBI action")
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
 "FinMin seeks expenditure proposals for 1st supplementary demands for grant")
State Bank of India to raise Rs 5,000 cr through AT-I bonds this week
The issue size is Rs 2,000 crore, with a green shoe option of Rs 3,000 crore
 "State Bank of India to raise Rs 5,000 cr through AT-I bonds this week")
RBI sold $6.49 billion in spot forex market in August, shows bulletin
The RBI said it purchased $16.14 billion and sold $22.64 billion in the spot forex market in August
Sovereign bond yields end higher as sentiment cautious after RBI comments
The benchmark 10-year bond yield ended at 6.8293% on Monday, compared with its previous close of 6.8193%
 "Sovereign bond yields end higher as sentiment cautious after RBI comments")
Bain-Backed 360 One's Co-CEO Taparia to depart amid wealth management boom
360 One confirmed Taparia's departure, saying he tendered his resignation last month and a smooth transition is underway
 "Bain-Backed 360 One's Co-CEO Taparia to depart amid wealth management boom")