Page 158 - Finance News

HDFC Bank raises MCLR by 5 bps for select tenures, effective October 7

MCLR is the minimum interest rate a financial institution needs to charge for a specific loan. It dictates the lower limit of the interest rate for a loan

RBI likely to keep rates steady as economic growth slows, global rates ease

High frequency indicators such as the manufacturing PMI slowed to an eight-month low in September, while services PMI eased to a 10-month trough, latest data showed

Rupee rises 2 paise to 83.97 against US dollar during early trade

The increase in the country's forex reserves to a new all-time high of $704.88 billion on Friday further pushed the domestic currency

Bond bulls bet on RBI's dovish turn to extend rally amid policy shift

While interest-rate swaps are pricing a rate cut only in December, traders are girding for a possible shift in the RBI's stance to neutral

Q2 result preview: Bank PAT growth may slow to 10% on margin pressure

Moderating credit growth, rising deposit cost likely to weigh on net interest income

Money in the bank: Debate over cash reserve ratio's utility grows

Indians are flocking to invest in stocks, putting pressure on banks which need to strike a balance between deposits and loans

Status-quo on rates likely, say experts ahead of RBI's policy review

Reserve Bank of India (RBI) has kept the repo or short-term lending rate unchanged at 6.5 per cent since February 2023, and experts think some easing could only be possible in December

Bank credit offtake and deposit mobilisation moderates in H1: RBI data

The RBI data showed YTD growth in deposits was 5 per cent for H1FY25 as against 6.9 per cent for H1FY24

RBI to conduct govt bond buyback auction worth Rs 25,000 crore on Oct 10

By repurchasing its own outstanding bonds from the market before they mature, the government reduces its liabilities and strengthens its fiscal position

HDFC Bank's deposit growth outpaces credit in Q2, helping meet target

Country's largest private sector has indicated that it would grow its advances at a slower pace than deposits

Private lenders securitise loans worth Rs 21,000 crore in Q2 FY25

The country's largest private lender, HDFC Bank, securitised new car loans worth Rs 9,063 crore through a PTC transaction where mutual funds were key investors

India 10-year bond yield at 3-week high on West Asian conflict concerns

The benchmark 10-year yield ended at 6.8339%, the highest since Sept. 12, compared with its previous close of 6.7765%. On a weekly basis, the yield rose seven basis points

Forex reserves top $700 bn, India becomes 4th country to cross this mark

India is only the fourth economy in the world to cross $700 billion in reserves after China, Japan, and Switzerland

BofA expects India's forex reserves to reach $745 billion in March 2026

RBI Governor Shaktikanta Das has repeatedly stressed the need to build a forex buffer to act as a shield during periods of market volatility

Rs 500 cr investment scam: PhonePe, Easebuzz, 20 other firms under probe

Delhi Police also probing alleged involvement of social media influencers

Global banks to trial Swift for digital currency transactions from 2025

Central Bank Digital Currencies (CBDCs), digital versions of a country's official fiat currency, are also being trialled worldwide

Inflation rate under outgoing MPC that decided 25 monetary policies

The outgoing MPC was constituted in October 2020 and is now demitting office

Sumant Kathpalia succeeds Romesh Sobti as IndusInd Bank MD & CEO

Kathpalia will succeed current MD & CEO Romesh Sobti, who has been at the helm of affairs for over a decade now. Sobti's term as MD & CEO will end on March 23.

HDFC Bank says sequential rise in deposits outpaced loan growth in Q2

Deposits rose 5.1 per cent from the previous quarter to Rs 25 trillion, after no sequential change in April-June

SC upholds 90,000 tax reassessment notices issued under old regime

Move will impact assessees who received tax notices from April to June 2021 under the old reassessment regime