Page 163 - Finance News

NBBL introduces national pension system on Bharat Connect platform

With this partnership, individual investors will be able to contribute to existing NPS accounts with the help of Bharat Connect-enabled platforms

GNPA ratio to improve to decadal best of 2.5% in FY25: Crisil report

Its senior director and chief ratings officer Krishnan Sitaraman, however, told reporters that the 14 per cent credit growth will place FY25 as the third fastest year over the last decade

Rupee depreciates 2 paise to 83.81 against US dollar in early trade

They said monetary and fiscal stimulus announced by China triggered the withdrawal of foreign funds as investors preferred better-performing Chinese markets

Services, retail credit growth moderate in Aug on drop in credit to NBFCs

Credit to NBFCs grew by 11.9 per cent Y-o-Y in August 2024, sharply down from 21.3 per cent a year ago. Credit to trade declined to 15.5 per cent from 17.4 per cent in August 2023

RBI directs gold loan providers to review policies and practices

Additionally, the RBI, through a circular, instructed these lenders to ensure adequate controls over outsourced activities and third-party service providers

Increase share in ground-level agri credit: FM asks Northeast RRBs

Chairing a review meeting of the RRBs in the northeastern states at the civil secretariat here, Sitharaman urged the banks to put greater thrust on the identification of the right beneficiaries

SFBs should adopt responsible lending practices: RBI DG Swaminathan

The boards are also expected to ensure a proper succession planning for top management

Fintech firm Cred's revenue rises 66%, losses decline to Rs 609 crore

The Bengaluru-based company reported a 66 per cent increase in revenue to Rs 2,473 crore in FY24 from Rs 1,484.6 crore in the previous year

REC's deep-discount zero-coupon bond issuance receives strong demand

The issuance had a base issue size of Rs 1,000 crore, with a greenshoe option of Rs 4,000 crore. The company received bids worth Rs 33,670 crore, nearly 34 times the base issue

Interest rates on small savings schemes remain unchanged for Q3FY25

The interest rate on the Kisan Vikas Patra will be 7.5 per cent, and the investments will mature in 115 months

REC witnesses hefty investor demand for rare corporate bond issue

The non-banking financial company raised Rs 5,000 crore ($596.7 million) through a deep-discount zero-coupon bond at a yield of 6.25 per cent

RBI dy guv Swaminathan calls for responsible lending at small finance banks

The RBI has been encouraging banks to strengthen governance standards to prevent financial instability and systemic risks

Centre likely to announce 3-4% DA hike for employees ahead of Diwali

The potential increase in Dearness Allowance is expected to bring a financial boost to government employees

Income tax audit report deadline extended to Oct 7: What you need to know

This extension provides taxpayers, including individuals and companies, additional time to meet their compliance obligations

Rupee falls 6 paise to 83.75 against US dollar during early trade

Upward movement in crude oil prices and a strong greenback against major overseas rivals due to its increased demand from importers at the month end put pressure on the local unit

Smart plans and rising use-cases drive small UPI companies' growth

Smaller players on the UPI leaderboard, such as Navi, Groww, and MobiKwik, have shown remarkable year-on-year (Y-o-Y) growth

SBI plans to introduce innovative products to boost deposit growth: Setty

So, he said, these are the innovations which the bank is thinking of in terms of popularising the deposit products among the Gen Z

IDFC FIRST Bank announces completion of IDFC Ltd merger effective Oct 1

The shares are expected to be credited to shareholders of IDFC Limited on or before October 31, 2024, subject to regulatory processes and clearances, it said

Private equity deals in India pick up after two years of decline

Up 9% at $24 bn in first nine months of 2024; financial services, consumer sectors lead

Credit card spending growth declines on RBI gaze, stress build-up

In FY24, credit card spending grew by 27.8 per cent; in FY23, spending was up 47.5 per cent; and it was 54.1 per cent in FY22