Page 180 - Finance News

July inflation dipped below RBI's target, high base effect at play: Poll

The Aug. 2-7 poll of 36 economists forecast the consumer price index rose at an annual rate of 3.65 per cent last month, down sharply from 5.08 per cent in June

RBI asks top banks to refrain from large trading bets against rupee

The Indian rupee turned into the worst-performing Asian currency over the last month, pressured by the unwinding of trades that used the Chinese yuan to fund long bets on the local currency

Credit transactions on UPI reaching Rs 10K cr every month: NPCI chief

NPCI's "credit line on UPI", launched last year, offers low-ticket, high-volume retail loans to individuals and businesses

FM Nirmala Sitharaman, PSB chiefs likely to talk NPAs and cybersecurity

Finance Minister Nirmala Sitharaman will hold the review meet on August 19

No need to keep minimum balance in Jan Dhan, basic savings accounts: FM

Since MP is talking about banks collecting money for basic minimum balance which is not there in the account, that does not apply to PM Jan Dhan accounts, basic accounts of poor people, FM said

RBI begins discussions on monetary policy amid no rate change expectations

The central bank last hiked the repo rate to 6.5 per cent in February 2023 and since then it has held the rate at same level in its last seven bi-monthly monetary policy reviews

RBI to lower rates by 100 bps by March 2026, as inflation eases: BOA

The rate easing cycle in Asia's third-largest economy should begin with a 25-basis-point cut in December, Jain said, mirroring the market view

SBI pushes into wealth management with vigour as wealthy people surge

SBI will face competition from global players like HSBC Holdings Plc and Barclays Plc, and local veterans like 360 One WAM Ltd

Rupee recovers from all-time low levels, opens 25 paise higher at 83.84

escalation of geopolitical tensions in the Middle East and outflows by foreign investors dented investor sentiments

Food inflation target evades RBI MPC members as panel rejig looms

The six-member monetary policy committee (MPC), which includes three central bank officials and three external members, is recast every four years when the govt appoints a new set of external members

AT-1 bonds' valuation by mutual funds to be based on yield-to-call: Sebi

Yield to call is the expected return an investor gets if they buy a bond and hold it until the issuer repurchases it on the call date, before maturity

Niti Aayog working to deepen corporate bond markets, says annual report

The corporate bond market, seen as an alternative to bank finance for borrowers, helps companies to raise long-term funds at competitive costs

RBI proposes regulatory principles for managing model risks in credit

With a view to ensuring prudence and robustness, in the use of such models, RBI proposed to lay down certain broad regulatory principles which should be adopted by REs

Google Pay, PhonePe, and Amazon Pay seek entry into RBI's digital rupee

These payment firms are collaborating with the RBI and the NPCI and are anticipated to introduce e-rupee access within the next three to four months, according to a Reuters report

UPI transactions jump 36% to Rs 60 trn in Apr-Jun qtr: MoS Finance

As per the details of UPI transactions shared by Minister of State for Finance Pankaj Chaudhary in the Lok Sabha, 41.22 bn UPI transactions took place between April and June in 2024-25

Google, Amazon, Walmart seeks to join RBI'S digital currency project

Google Pay and Amazon Pay are payments applications offered by Alphabet Inc's Google and Amazon.com, respectively, that facilitate retail payments over India's widely used Unified Payments Interface

Rupee worst Asian currency in U-turn as yuan carry trades unwind

The contrasting fortunes have carried over into August. The offshore Chinese yuan climbed to nearly 7.11 on Monday, its best level since the first week of this year

Rupee slips to all-time low of 83.80 against US dollar in early trade

Forex traders said the sharp downfall in the domestic unit came on the heels of a significant downturn in the Indian equity markets and significant foreign fund outflows

Rupee expected to decline further as policy shift comes into focus

The currency tested successive lows in recent days amid outflows from local stocks following a hike in equity taxes

NBFC growth likely to take a hit as banks show funding reluctance

According to RBI data, as on September 30, 2023, 37.8% of the NBFC borrowing was from banks