Page 161 - Finance News
Staffing power up: HDFC Bank likely to overtake SBI in employee count
Numbers for industry show private banks are taking the lead in adding workers and setting up new branches
 "Staffing power up: HDFC Bank likely to overtake SBI in employee count")
NPCI inks deal to develop digital payments system for Trinidad and Tobago
Earlier in the year, NIPL had agreed to develop digital payments systems for Peru and Namibia, using UPI as a blueprint
 "NPCI inks deal to develop digital payments system for Trinidad and Tobago")
India keeps markets guessing ahead of three key RBI MPC appointments
The contracts of three external members of RBI's monetary policy committee will expire on Oct 4, just days before the MPC is expected to meet and make its rate decision on Oct 9
 "India keeps markets guessing ahead of three key RBI MPC appointments")
Rupee rises 2 paise to 83.64 against US dollar during early trade
The Indian currency was, however, weighed down by a subdued domestic equity market
 "Rupee rises 2 paise to 83.64 against US dollar during early trade")
Rupee to gauge trimmed bets of large Fed cut, US inflation data in focus
US jobless claims declined to a four-month low while gross domestic product grew at an unrevised 3 per cent
 "Rupee to gauge trimmed bets of large Fed cut, US inflation data in focus")
RBI to keep repo rate at 6.50% in October, cut by 25bps in December: Poll
Inflation held below the RBI's medium-term target of 4.0 for a second month in August
 "RBI to keep repo rate at 6.50% in October, cut by 25bps in December: Poll")
In unsecured loans pie, middle-layer NBFCs take the largest slice
Their share was 27.3 in end-December 2023, according to central bank's data
 "In unsecured loans pie, middle-layer NBFCs take the largest slice")
BFSI sector valuation discount to overall market at a record high
Valuation re-rating has been much sharper for non-BFSI companies
 "BFSI sector valuation discount to overall market at a record high")
HDFC sells nearly $717 million of home loans to reduce credit book
In June, HDFC also sold a 50 billion rupee loan portfolio. Its credit-deposit ratio stood at 104% at the end of March, higher than the 85% to 88% rate in the previous three fiscal years
 "HDFC sells nearly $717 million of home loans to reduce credit book")
Nearly 63% of investors on the Grip Invest platform are millennials
Repeat investments in corporate bonds on its platform also quadrupled in 2024, indicating strong investor confidence
 "Nearly 63% of investors on the Grip Invest platform are millennials")
Rupee declines 11 paise to 83.69 against US dollar during early trade
FIIs turning net sellers put further pressure on the domestic currency against the greenback
 "Rupee declines 11 paise to 83.69 against US dollar during early trade")
Rupee awaits Powell's comments, US inflation after failure to breach $83.5
In each the last three sessions, the rupee has been unsuccessful in climbing past 83.50, a level which market participants say is important for the currency to take out to sustain its upward momentum
 "Rupee awaits Powell's comments, US inflation after failure to breach $83.5")
FM asks AIIB to increase innovative financing, non-lending services
The finance minister was attending the Governors' Business Roundtable at the 9th Annual Meeting of the Board of Governors of AIIB in Samarkand, Uzbekistan
 "FM asks AIIB to increase innovative financing, non-lending services")
Organised gold loans offered by banks, NBFCs may top Rs 10 trn by FY25
The gold loan segment has expanded at a compound annual growth rate (CAGR) of 25 per cent between FY20 and FY24, Icra said
 "Organised gold loans offered by banks, NBFCs may top Rs 10 trn by FY25")
Banks turn to CD issuances in September amid sluggish deposit growth
Banks have issued Rs 7.78 trillion worth of CDs in the current calendar year until August 2024, compared to Rs 4.9 trillion in the same period of 2023, registering a 59 per cent growth
 "Banks turn to CD issuances in September amid sluggish deposit growth")
'Know your districts well' to deepen financial inclusion: RBI DG to bankers
The career commercial banker-turned-central banker exhorted bank officials to know their districts very well in the pursuit of the aim
 "'Know your districts well' to deepen financial inclusion: RBI DG to bankers")
Expecting FDI to increase to $100 bn per annum in coming years: DPIIT Secy
Secretary in the Department for Promotion of Industry and Internal Trade (DPIIT) Amardeep Singh Bhatia said the department is also streamlining approval processes for FDI applications
 "Expecting FDI to increase to $100 bn per annum in coming years: DPIIT Secy")
FM asks AIIB to assist low-income countries to avail financial resources
Sitharaman also met Qatar Finance Minister Ali bin Ahmed Al Kuwari and discussed bilateral trade, investments, digital public infrastructure and bilateral investment treaty (BIT) among others
Rupee appreciates 10 paise to 83.53 against US dollar in early trade
Forex traders said the US dollar has weakened against majors post the weak consumer confidence print. The US consumer confidence dropped by the most in three years to 98.7 from 105.6 in August
Cong raises alarm as SBI decides to pick equity in debt-laden infra firm
Promoted by the Bhawanishankar H Sharma family, Mumbai based Supreme Infrastructure has been a loss-making company for a decade now.
 "Cong raises alarm as SBI decides to pick equity in debt-laden infra firm")