Page 171 - Finance News

Interest equalisation scheme for exporters extended for another month

The scheme, which provides exporters interest benefits, ended on August 31. In June, it was extended for two months

To boost capex, FinMin relaxes norms for expenditure exceeding Rs 500 cr

Finance Minister Nirmala Sitharaman in the Budget proposed to raise the capital expenditure target by 11.1 per cent to record Rs 11.11 trillion for 2024-25

Rupee drops to record low amid negative global cues, RBI support aids

Over the last month, there were several instances when the Reserve Bank of India intervened on both sides of the forex market to support the currency

Delinquencies in microfinance sector may push NBFC-MFI credit cost: ICRA

Increasing delinquencies in the microfinance sector is likely to push up the NBFC-MFI credit cost to 320-340 bps in 2024-25 from 220 bps in the previous financial year, according to an Icra report.

Banks to maintain real-time fraud list, more than 3,000 entities listed

Lenders would be required to consult this list before engaging with these entities and continuously update it

Rupee appreciates 2 paise to 83.96 against US dollar in early trade today

The dollar index, which gauges the greenback's strength against a basket of six currencies, was down 0.14 per cent to 101.67

A 'unified lending interface' carries great potential, but is also risky

India's model for financial interconnectedness is based around what it calls digital public infrastructure

Banking system liquidity improves to 1-month high on back of govt spending

"Government spending is the reason for the rise in liquidity. It might improve further but there will be some action by the RBI to manage liquidity," said Indranil Pan, chief economist, YES Bank

FinMin to develop climate finance taxonomy in 6-10 months: DEA secy

Climate finance taxonomy is a set of guidelines that will help investors and institutions direct funds towards investments that will aid in tackling climate change

Households set to rebuild financial assets as income rises: RBI's Patra

He noted that the rebuilding process has already begun, with household savings increasing from an average of 10.6 per cent between 2011 and 2017 to 11.5 per cent during 2017-2023

SMFG India Credit Company to get up to Rs 2,000 crore capital from parent

Slated to become upper layer NBFC with listing plans

Sebi working on simplified rules for foreigners investing in govt bonds

Foreign investment in Indian government bonds has risen sharply since September 2023, when J.P. Morgan announced the inclusion of India in its debt indexes

India needs faster growth for a decade to meet goals: RBI Dy Guv Patra

It's possible for India's per capita income to climb to levels required to be considered a high income or developed country, Patra said

NaBFID planning to disburse $17 bn in loans to finance projects: Official

The 20-month old financial institution, which has been created to focus on infrastructure funding, has assessed 200 projects and is planning to sanction $26.5 billion in loans over two years

Rupee depreciates 4 paise to 83.95 against US dollar in early trade

A decline in the domestic equity market also contributed to the drop in the local unit, forex traders said

Lenders' deposit shortage could put speed limit on credit-fueled investment

The govt is making the deposit crunch worse by taxing savers aggressively, but keeping the proceeds away from the financial system. Bankers are compounding the problem by not paying enough to savers

Trigger happy regulator? RBI Dy Guv says action to protect customers

In recent years, the regulator has imposed business restrictions and barred entities from onboarding new customers for violating norms and causing customer inconvenience

Long-term projects should be funded through debt market: Sanjiv Bajaj

Banks are ill suited to fund long term projects as there is a mismatch between assets and liabilities, he said

SBI aims for cashflow-based lending to SMEs, says chairman C S Setty

Its SME portfolio rose by 19.87 per cent year-on-year (Y-o-Y) to Rs 4.43 trillion at the end of June 2024

GST council to discuss report on online gaming taxation, fake registration

The Council will also clear the notifications to give effect to the amendments in GST law, which were part of the Finance Act, 2024