Page 183 - Finance News
Five entities enter test phase for 5th cohort of RBI's regulatory sandbox
The banking regulator received 22 applications for this cohort of the regulatory sandbox
 "Five entities enter test phase for 5th cohort of RBI's regulatory sandbox")
RBI imposes fines on 3 payment system operators including Visa Worldwide
A penalty of Rs 2.4 crore has been imposed on Visa Worldwide Pte Limited and Rs 41.5 lakh on Manappuram Finance Limited
 "RBI imposes fines on 3 payment system operators including Visa Worldwide")
SAEL Group issues bonds worth $305 million in international markets
SAEL Group aims to increase the portfolio of solar and waste-to-energy assets to 5 GW by the next two years, its Chief Investment Officer Varun Gupta said
 "SAEL Group issues bonds worth $305 million in international markets")
RBI issues prompt corrective action framework for urban cooperative banks
The provisions of the Prompt Corrective Action (PCA) Framework for Primary (Urban) Co-operative Banks (UCBs) will be effective from April 1, 2025
 "RBI issues prompt corrective action framework for urban cooperative banks")
Digital payments increase 12.6% at March-end 2024, shows RBI data
Digital payments across the country registered a 12.6 per cent on-year rise as on March 31, 2024, according to RBI's index that measures the adoption of online transactions.
Life insurance firms likely to see strong growth in non-linked policies
Industry preps for regulator's new norm asking companies to pay special surrender value to customers
 "Life insurance firms likely to see strong growth in non-linked policies")
In India's goal of financial inclusion, banks make 'remarkable progress'
Number of Indians with an account in a formal financial institution increased to 77% in 2021
 "In India's goal of financial inclusion, banks make 'remarkable progress'")
Climate events influence actions of central banks, says RBI DG Rao
Rao said that such events can destroy assets funded by institutional finance, thereby harming the financial health of these institutions
 "Climate events influence actions of central banks, says RBI DG Rao")
Skill ministry launches revised loan scheme, up to Rs 750K per student
The new credit guarantee scheme has now also been extended to NBFCs, MFIs and SFBs
 "Skill ministry launches revised loan scheme, up to Rs 750K per student")
Avoid extra loans to borrowers with over Rs 200,000 MFI exposure
The enhanced guidelines must be issued to lending institutions to protect the interests of the microfinance sector and specifically its clients
 "Avoid extra loans to borrowers with over Rs 200,000 MFI exposure")
DLAI adds former RBI execs to advisory council, aims for SRO-FT recognition
An SRO is a non-governmental organisation that acts as a bridge between industry players and the regulator. It also sets standards for the conduct of entities operating in the country
 "DLAI adds former RBI execs to advisory council, aims for SRO-FT recognition")
Govt to handle $5.1 bn bond payments for MTNL amid liquidity crisis
The company is no longer solvent, said the person, who requested anonymity
 "Govt to handle $5.1 bn bond payments for MTNL amid liquidity crisis")
IDBI Bank investors receive security clearance; await RBI approval
Central government and LIC are set to divest 61% stake amid strategic disinvestment drive. The govt aims to generate Rs 50,000 crore through asset monetisation this fiscal year
 "IDBI Bank investors receive security clearance; await RBI approval")
AstraZeneca raises sales and profit forecast as demand for therapies grows
AstraZeneca's drug pipeline has evolved significantly under CEO Pascal Soriot since he took over more than a decade ago
 "AstraZeneca raises sales and profit forecast as demand for therapies grows")
South Korea seeks to lower inheritance tax in first revision since 2000
High inheritance taxes have been cited by analysts as a factor behind the "Korea discount", which refers to South Korean firms' comparatively lower valuations.
 "South Korea seeks to lower inheritance tax in first revision since 2000")
Rupee falls to all-time low of 83.72 against US dollar in early trade
At the interbank foreign exchange market, the local unit was trading in a narrow range. It opened at an all-time low of 83.72 against the American currency, registering a fall of 1 paisa
 "Rupee falls to all-time low of 83.72 against US dollar in early trade")
HDFC Bank increases fixed deposit interest rates by up to 20 basis points
It will offer 7.35% and 7.40% on fixed deposits below Rs 3 crore for 35 months and 55 months tenors
 "HDFC Bank increases fixed deposit interest rates by up to 20 basis points")
Cred launches product to track expenses, view total bank account balances
The new Cred product will be rolled out to its members in phases starting Thursday, making it one of the first fintechs to launch the offering
 "Cred launches product to track expenses, view total bank account balances")
Piramal Finance eyes overseas bond market for funding diversification
The diversified non-banking finance company (NBFC) aims to increase its borrowing from international sources to 10 to 12 per cent over the next 2-3 years, up from the current 4 per cent
 "Piramal Finance eyes overseas bond market for funding diversification")
RBI revamps regulatory framework for domestic money transfer services
The changes in the current framework have been made based on recent review of various services for payments transfer