Page 172 - Finance News

Rupee falls 3 paise to 83.88 against US dollar during early trade

The positive domestic equity market, inflow of foreign fund and weak greenback capped the rupee's fall, according to forex traders

Rupee to decline after US data indicates larger Fed rate cut unlikely

The 1-month non-deliverable forward indicated that the rupee will open at 83.90 to the US dollar

We have taken a temporary break from our partnership with Apple: HDFC Bank

Move comes after review of the partnership from cost-to-income perspective; the bank is gearing up for surge in business during the festive season

UPI numbers scale fresh peak in August; volume up, value dips marginally

The Immediate Payment Service (IMPS) transaction volume was down by 8 per cent in August at 453 million, as compared to 490 million in July

NBFCs may soon join technology credit wave on UPI-like innovation

RBI likely to allow access to both legacy, fintech NBFCs

Rupee second-worst performing Asian currency against greenback in Aug

In the current financial year, the rupee has depreciated by 0.6 per cent so far

New MSME credit assessment model for PSBs may see March 2025 launch

Credit model goes beyond credit scores, evaluates supply chains, digital footprints

UPI likely to grow further in several countries, says RBI Guv Das

UPI is already present in many countries through QR codes and the linkage of fast payments systems, and discussions are underway with several other nations

Forex reserves rise by $7 billion to hit record high of $681.69 billion

The overall reserves had jumped by $4.546 billion to $674.664 billion in the previous reporting week

Microfinance industry AUM up 22% at Rs 1.4 trillion till June, shows data

The loan amount of Rs 26,223 crore was disbursed in Q1 FY24-25 through 56.8 lakh accounts, including disbursement of owned as well as managed portfolios

Global Fintech Fest highlights: India's fintech revolution is improving financial inclusion, says PM

PM Modi at Global Fintech Fest highlights: Catch all the news developments here

NDMC to give 5% rebate on property tax payments on or before Sep 30

The council, which oversees municipal work in several central Delhi areas, advised the taxpayers to avoid the last-minute rush and plan their tax deposit well in time to get the rebate

72% Indians believe financial institutions collect more data than required

The survey further added that a resounding 86% of users express a desire for granular control over data sharing

Toyota Kirloskar, Union Bank of India partner for vehicle loaning solutions

Besides, private vehicle customers can opt for flexible tenures up to 7 years with interest rates starting from 8.8 per cent per annum

HDFC Bank to sell Rs 10k cr in loan portfolios via pass-through certificate

HDFC Bank will use a rare debt instrument known as pass-through certificates to sell loan portfolios worth up to Rs 10,000 crore ($1.2 billion)

Credit cards issuance in country increases by 16% to 104.6 mn in July

Credit card spending in July 2024 increased by 19 per cent Y-o-Y to Rs 1.72 trn in July

Rupee rises 7 paise to 83.82 against US dollar during early trade

According to forex traders, MSCI rebalancing flows could take the rupee higher

Fintechs don't have track record to evoke trust: RBI's T Rabi Sankar

Speaking at Global Fintech Fest 2024, Sankar noted that fintech cos largely not licensed by regulator, making it even more crucial for them to prove they can operate responsibly and earn public trust

Govt lowers minimum public shareholding rule to 10% for GIFT City listing

Experts believe these revised thresholds will enable Indian companies to access global capital and will be a step in cementing the country's position in the global financial landscape

No restrictions for queer community to open joint bank accounts: FinMin

The ministry also said that a clarification in this regard has also been issued by the Reserve Bank of India (RBI) to all the scheduled commercial banks on August 21, 2024