Page 17 - Finance News

FIDC to flag NBFC concerns over RBI's proposed revolving credit ban

The industry body is collating views from NBFCs before submitting feedback to the RBI, with lenders warning that the proposed restriction could favour banks

Rupee seen weakening to 97 per dollar by FY27 end amid global risks: BMI

BMI expects the rupee to weaken to ₹97 per US dollar by the end of FY2026-27, which runs from April 2026 to March 2027, and to ₹99 per dollar by the end of FY2027-28, from ₹95.4 currently

FCNR(B) swap window explained: Why RBI opened it, then advanced deadline

RBI has brought forward the deadline for its special FCNR(B) swap window to August 31. Here's what it means

Govt to soon constitute panel on 'Banking for Viksit Bharat': Sitharaman

In this year's Budget, the Finance Minister had proposed a high-level committee on 'Banking for Viksit Bharat', to comprehensively review the sector and align it with India's next phase of growth

RBI's heavy FX footprint revives memories of a tightly managed rupee

Despite volatile crude oil prices ​due to war in the West Asia and persistent dollar demand from hedging flows, the rupee has ‌demonstrated remarkably muted price action since last week

Rupee falls 17 paise to 95.59 against US dollar during early trade

At the interbank foreign exchange, the rupee opened at 95.50, then fell to 95.59, down 17 paise from its previous close

UPI vs cards: Why merchants pay MDR on cards but not on UPI payments

UPI payments are free for merchants, while card transactions carry MDR. Here's why the two digital payment systems have different costs and how a possible UPI charge could work

Small merchants built UPI's reach. Here's what government data shows

Small merchants have driven UPI's mass adoption. Here's why defining who qualifies as a small merchant matters as the government creates a framework for potential MDR

Banks race for dollar deposits as RBI curtails FCNR (B) swap window

Despite early closure, experts expect total inflow of $60-70 bn by Aug-end

WhatsApp Pay's UPI volumes doubled to 168 million in July, shows data

Moved ahead of players such as Cred, Amazon Pay

DFS to hold PSB, PFI confluence on sector's road map for Viksit Bharat

The two-day conclave will focus on deposit mobilisation, credit expansion, rural value chains, wealth management and other next-generation reforms for public sector banks

FinMin nudges ministries to use PPI for rate adjustments in govt contracts

The Department of Expenditure, in a communication to all ministries and departments, said that PPI is a more internationally accepted index compared to WPI used in government contracts

Inflows over $52 bn, RBI opts to shut FCNR(B) tap ahead of schedule

Forex booster gambit to end Aug 31, a month ahead of schedule

India's BoP deficit widens to $8.1 billion in Q1FY27 on capital outflows

Q1 current account deficit at $3.1 billion; $6.2 billion in June

Sebi proposes settlement framework overhaul, seeks simpler calculations

The regulator has proposed a simpler formula for settlement amounts, lower additional charges for refiling and allowing settlement applications at the appellate stage

Bank deposit growth hits highest since December 2016 at 15.4%: RBI data

Aggregate deposits rose by Rs 6.61 trillion in the fortnight ended July 31, while bank credit growth accelerated to 19.3 per cent, its highest since May 2024

India sees sharp expansion in retail, MSME credit access since 2021

Retail bureau coverage rose 1.7 times to 78.9 crore borrowers by 2026, while active MSME borrowers more than doubled to 1.9 crore over the five-year period

FinMin warns against high turnover, payroll criteria in GeM tenders

The Finance Ministry has advised central government entities to avoid disproportionately high turnover, payroll and staffing requirements in GeM consultancy tenders

Rupee gains 2 paise to 95.43 against US dollar during early trade

At the interbank foreign exchange market, rupee opened at 95.39 and later slipped to trade at 95.43 against American currency in early deals, up marginally by 2 paise from its previous closing level

State Bank of India raises ₹500 mn through bonds from overseas investors

State Bank of India, acting through its London branch, has raised USD 500 million by issuing bonds at a coupon rate of 5.25 per cent.