Page 173 - Finance News

RBI cautions against fraud, warns against sharing OTP and KYC details

The RBI also detailed various modus operandi used by fraudsters

SBI's mega tier II debt issue may boost fundraising via such notes: Bankers

On Wednesday, India's largest lender SBI raised Rs 7,500 crore ($894.1 million) through 15-year tier II bonds, with a 10-year call option at 7.42 per cent coupon

Adani Enterprises to raise up to Rs 800 cr as non-convertible debentures

The majority of the proceeds from the issue will be utilised to prepay or repay, in full or in part, the existing debt, and up to 25 per cent for general corporate purposes

India minted a new billionaire every 5 days in 2023: Hurun rich list 2024

For the first time, the Hurun India Rich List has exceeded 1,500 entries, recording individuals with wealth more than Rs 1,000 crore

Rupee appreciates 9 paise to 83.88 against US dollar in early trade

On Wednesday, the rupee depreciated 4 paise to close at 83.97 against the American currency

Foreign lenders lured by stake sales in Indian banks, face tighter rules

Banking sector deals in India, especially those involving foreign entities, are rare

PhonePe CEO says UPI mcap overhang holding back company from going public

Speaking at the Global Fintech Fest, Sameer Nigam, chief executive officer, PhonePe, said, "As far as going public, the market cap overhang is definitely a problem for us

UPI transactions can touch 100 bn in next 10-15 years: Dilip Asbe

He was responding to a question posed by Kunal Shah, serial entrepreneur and founder of Cred, at the Global Fintech Fest on what will bring the next millions to the UPI ecosystem

'Finternet' the future of financing systems, says Nandan Nilekani

According to Nilekani, Finternet will be user-centric, unified, which means it will cover all types of assets, with a universal infrastructure

Lot of headroom for digital payments platform UPI to grow: Google Pay V-P

Speaking at the Global Fintech Fest, Kenghe said close to 400 million customers are transacting on UPI currently

Interlinking domestic fast-pay ways won't solve crossborder issues: Waller

Says frictionless cross-border payments will make it difficult to check money laundering and terror funding

SBI Chairman Dinesh Khara retires after record profits; CS Setty takes over

Dinesh Khara's tenure saw SBI's profit leap from Rs 20,410 crore in FY21 to Rs 61,077 crore in FY24, a 200 per cent increase, earning him the title of 'profit king'

Rupee falls 2 paise to 83.95 against US dollar in early trade today

At the interbank foreign exchange market, the local unit opened at 83.94, then lost further ground and touched 83.95, registering a loss of 2 paise from its previous close

Microloan asset quality faces strain as heatwaves, loan waiver rumours bite

Asset portfolio shrinks sequentially; Growth seen moderating by 2-3 percentage points in FY25

Canara Bank mops up Rs 3,000 crore in additional Tier-I bonds at 8.27%

Canara Bank managed to secure funding at a lower-than-expected 8.27 per cent -- a positive indicator for other lenders preparing to tap the AT-1 market in the near term

National Infrastructure Trust to raise Rs 1,600 crore through IPO

In accordance with SEBI Infrastructure Investment Trust (InvIT) regulations and the SEBI guidelines, 75 per cent of offer will be available for a proportionate allocation to institutional investors

MPC and Inflation: Tracking non-food retail inflation trends in India

If monetary policy cannot influence food inflation, why should it not subject its stance to non-food price spiral?

Grip Invest launches first privately placed Rs 10,000 face value bonds

One part of the issuance worth Rs 6.5 crore was launched on the Grip platform, which was fully subscribed, said Nikhil Aggarwal, Founder & Group CEO, Grip

First perpetual bond issue after valuation rule change sees strong interest

Canara Bank sold perpetual bonds with a call option at the end of 10 years at a coupon of 8.27 per cent compared to expectations of 8.30 per cent-8.34 per cent

Rs 25 lakh loan at 5% needed for middle-class homebuyers: Naredco president

Around 30% of Indians are unable to afford home loan EMIs at current rates, says G Hari Babu