Page 182 - Finance News

Adani Energy Solutions QIP over-subscribed thrice, $1 billion raised

QIP is a fund-raising tool for companies, through which they issue equities, or other equity convertible securities to qualified institutional buyers

RBI's new norms on wilful defaulters to come into effect from Nov 1

"Wilful defaulters or any entity with which a wilful defaulter is associated shall not be eligible for restructuring of credit facilities," the RBI said

RBI pulls up UCBs creating Dividend Equalisation Fund for payments

Gives one time permission to transfer corpus to reserves

Draft guidelines may impact banks' existing LCR by upto 300 pps: CRISIL

Last week, RBI proposed to tighten norms related to liquidity coverage ratio by increasing the run-off factor to 5 per cent for retail deposits

RBI issues final directions on cybersecurity controls for non-bank PSOs

RBI has given different timelines to these entities, depending on their size, to set up compliance structures

Navi Finserv closes $38 mn personal loan securitisation deal with JP Morgan

The transaction between the two firms, structured in the form of pass-through certificates (PTC), will be backed by a pool of unsecured personal loans. It will be originated and serviced by the NBFC

RBI issues norms to improve safety of payment systems with fraud monitoring

Directions aim to improve safety and security of the payment systems operated by PSOs by providing a framework for overall information security preparedness with an emphasis on cyber resilience

Indian Bank eyes recovery of Rs 7,000 cr this financial year: MD & CEO

The bank has also received the approval from the Reserve Bank of India and shareholders to raise Rs 5,000 crore which would be decided at an opportune time

Reserve Bank of India must retain focus on food inflation, say economists

The prescription for inflation-minus-food found mention in the government's pre-budget Economic Survey published last week

'Too big to fail' Big Techs pose risk profiling challenges: RBI report

Says digitalisation has enhanced banks' efficiency and increased competition within the sector

Fake ITC claims detection by GST officers up 51% at Rs 36,374 cr in FY24

Chaudhary said challenges in tracking fake ITC fraudsters relate to masterminds, who operate fake ITC generation through control, management of a complex web of entities created across jurisdictions

Average cost of data breaches in India hits $2.18 million: RBI report

BFSI sector, governed by well-defined regulations, is relatively protected from such attacks

RBI Governor Das for reskilling, upskilling amid digitalisation push

Says tech adoption paving way for next-gen banking

Room for India's DPI to diversify digital trade, says RBI report

According to Das, in the rapidly evolving technology landscape, balancing financial stability, customer protection and competition will remain the key policy challenge

Reserve Bank of India warns of cyber security, frauds due to digitisation

The report said digitisation can also bring new risks and challenges for customer protection and financial stability

CBDC retail pilot customers grow to 5 million till June 2024: RBI report

India is among 36 countries where the CBDC is currently in the pilot stage. RBI started the CBDC pilot during the end of 2022

RBI plans five-episode web series to showcase its 90-yr journey, functions

Bank is desirous of creating a web series of 5 episodes of around 25-30 minutes each, which can be aired on national TV channels and/or OTT platforms, commemorating RBI's 90 yrs journey, it said

India's average data breach costs hit $2.18 mn in 2023, up 28% since 2020

Phishing is the most prevalent form of cyberattack in India, accounting for about 22% of incidents, followed by incidents involving stolen or compromised credentials at 16%

Rupee rises 2 paise to 83.72 against US dollar during early trade

India's forex reserves had jumped $ 4 billion to reach an all-time high of $ 670.857 billion for the week ended July 19

MSMEs get a helping hand in Budget but challenges in financing remain

According to CRISIL Ratings' bi-annual 'MSME Report' (June 2023), the debt need of the sector is more than Rs 100 trillion. Of this, 70% is for working capital requirements alone