Page 176 - Finance News

Transmission of policy rate has been greater on deposits, shows RBI data

Among different bank groups, state-owned banks have seen a greater increase in interest rates on term deposits-both new and existing-compared to their private sector peers

Over Rs 80,000 crore worth GST notices issued for assessment year 2018-22

Alleged shortfall in tax paid, reversal of ITC among reasons

Tax dept issues 10,000 reopening notices to various entities so far

Initial data suggest undisclosed income to the tune of Rs 15,000 cr

IBA to take up overseas banks' local data storage issue with RBI

"RBI had advised all system providers to ensure that the entire data relating to payment systems operated by them is stored in a system only in India," said a source familiar with the development

Funding constraints to hinder NBFCs' growth after two strong years: ICRA

The report said that the sector's AUM, which stood at approximately Rs 47 trillion in March 2024, is projected to exceed Rs 50 trillion in the current financial year

Income tax dept processed about 40 mn ITRs for AY 2024-25 in 15 days

About 4.98 crore ITRs (income tax returns) have already been processed by the tax department, and intimations sent to taxpayers. Of this, 3.92 crore ITRs were processed in less than 15 days

Banking solutions fintech TransBnk raises $4 million in series A round

The platform has supported over 5,000 accounts, including escrows, and processed more than 50 million transactions

Rupee depreciates by 7 paise to 83.84 against US dollar in early trade

At the interbank foreign exchange, the rupee opened weak at 83.79 and lost further to 83.84 against the greenback, declining 7 paise from its previous days' closing level of 83.77

HDFC Bank taps retail bankers as wealth managers amid talent crunch

Mumbai-based HDFC's wealth business has about 800 relationship managers serving customers in about 100 cities and towns

Latest global audit norm adoption on regulators' table to upgrade standards

NFRA, other financial watchdogs, MCA to meet next week

Need to maintain balance between enforcement, ease of biz: Revenue secy

The meeting comes amid the ongoing special drive to detect fake GST registration. The all-India drive began on August 16 and will continue for two months

Account aggregator ecosystem clocks 100 million consents on framework

With 1059% growth, India's AA ecosystem is the fastest growing open finance ecosystem in the world

AUM of ARCs may decline 7-10% in FY25 due to lower acquisitions: CRISIL

AUM of private sector ARCs is expected to be Rs 1.2 - Rs 1.25 trillion in FY25 compared to Rs 1.35 trillion in the previous fiscal

RBI asks banks to monitor credit-deposit gap to avoid liquidity issues

Indian banks' loans rose 13.7% as of July 26 from a year earlier, while deposits grew 10.6%, latest provisional data from the RBI showed

Rupee worst performer among Asian peers over August despite mild rise

Rupee is the worst performing currency in Asia so far this month, down 0.2 per cent against the dollar, while its peers have risen as high as 4 per cent

Banks' borrowings in India crosses Rs 9 trillion-mark in July: RBI

Bank borrowing figures for July 26 were up 20% compared to the borrowing figures of Rs 7.75 trillion for April 5

Rupee turns flat at 83.87 against US dollar in today's early trade

Forex traders said softening crude oil prices supported the local unit and prevented its fall

Rupee expected to underperform regional peers amid dollar's slide

The upbeat risk mood has been another factor cited for the slump in the safe haven dollar

Incremental deposit growth outpaced credit growth since FY22: SBI Research

Myth of flagging deposit growth appears as just a statistical myth with credit growth outpacing deposit growth being tom-tommed as a deceleration in deposit growth, the research report said

Focus on deposits, strengthen cybersecurity: FM Sitharaman to banks

The FM also met top officials of regional rural banks in a separate meeting, where banks were asked to expedite one state-one RRB initiative