Page 164 - Finance News
SFBs should be vigilant, proactive to mitigate risks: RBI deputy guv
Swaminathan highlighted the role of governance in guiding SFBs towards sustainable growth with stability. He also emphasised the importance of sustainable business models
 "SFBs should be vigilant, proactive to mitigate risks: RBI deputy guv")
Banks struggling to mobilise large deposits; C-D ratio rises to 80%: Report
According to the RBI April 2024 Bulletin, during March 2024, the incremental Credit-Deposit Ratio(ICDR) remained around 95.94 per cent, whereas on March 8, 2024 this was at 92.95 per cent
 "Banks struggling to mobilise large deposits; C-D ratio rises to 80%: Report")
State-owned Punjab National Bank raises Rs 5,000 crore through QIP issue
The amount of capital raised through QIP issue will augment the bank's CET-1 Ratio and the overall Capital Adequacy Ratio, it added
 "State-owned Punjab National Bank raises Rs 5,000 crore through QIP issue")
NIPL, Trinidad and Tobago ink agreement to develop UPI-like payments system
The partnership follows a series of recent announcements NIPL has made regarding the global expansion of UPI and associated rails
 "NIPL, Trinidad and Tobago ink agreement to develop UPI-like payments system")
Forex reserves advance for 6th week to hit record high of $692.3 billion
The reserves rose by $2.84 billion in the reporting week, after having risen by a total of $19.3 billion in the prior five weeks
 "Forex reserves advance for 6th week to hit record high of $692.3 billion")
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")