Page 184 - Finance News

PhonePe retains top position on UPI in June, Paytm's market share slips

Nearly one out of two transactions on the National Payments Corporation of India (NPCI)-run UPI are processed on fintech major PhonePe's platform

Banking's dominance in credit diminishing in country: Economic Survey FY24

Capital markets' rise in role a 'welcome development' but comes with its challenges, says survey

Rupee up 5 paise from all-time low to 83.65 against dollar in early trade

At the interbank foreign exchange market, the local unit opened at 83.66, and touched an early high of 83.65, registering a gain of 5 paise from its previous close.

Vedanta raises $1 bn via QIP; Goldman, Morgan Stanley among top investors

The issue, which closed on July 19, implied a discount of 4.61 per cent to the floor price of Rs 461.26 per equity share

Formal job creation hits 10-month high with 985K new subscribers: EPFO data

Surge in young and female subscribers signals recovery in labour market

YES Bank Q1 result: Net profit rises 47% to Rs 502 cr as provisions fall

Its provisions declined by 41.2 per cent to Rs 212 crore in Q1 FY25, from Rs 360 crore in the year-ago period. Sequentially, provisions declined from Rs 471 crore in Q4 FY24

Deposits remain preferred saving instrument but equity gains steam

Equity, investment funds share in total financial wealth up by over 50% between 2011-12 and 2022-23

Need unambiguous, clear focus on inflation: RBI Governor Shaktikanta Das

Guv says RBI's target is inflation, not a neutral rate of interest

UAE biz conglomerate introduces UPI payments across outlets countrywide

Unified Payment Interface (UPI) is an Indian instant payment system developed by the National Payments Corporation of India (NPCI) in 2016

India's economy holds strong but no thaw in fintechs' funding winter

Funding in first half of this calendar year is at $795 mn, a decline of 11% from second half of 2023

Deposit growth trailing credit growth may cause liquidity issues: Das

He said the regulatory concerns stem from the fact that there could be structural changes happening which banks and NBFCs and other lenders need to recognise, and accordingly devise their strategies

MTNL defaults on Rs 37.5 crore Punjab & Sind Bank loan instalment

State-owned telco told exchanges it owed Rs 5,480 cr to Punjab and Sind Bank

No plans to allow business houses to promote banks: RBI Governor Das

The RBI had disqualified a long list of conglomerates from floating a lender in the last round of licensing around a decade ago

With growth steady, policy must focus on inflation: RBI Governor Das

In the last three years, the average growth of India has been 8.3 per cent, he said

Close coordination with govt helped in economy's quick revival: RBI Guv

Speaking at an event the bureaucrat-turned-central banker said nobody has expected him to be a "cheerleader" for the government during his term

Small and safe? Banks, fintech loans under Rs 50,000 on RBI radar

Scrutiny strengthened after regulated entities were in November asked to review exposure limits for consumer credit

IDBI Bank stake sale: RBI vetting process in last leg, report by month-end

The central bank's clearance will be seen as an important milestone for the bank's strategic disinvestment

Funding to payments fintechs in India down 99% in two years: Report

The decline in funding comes on the back of reasons such as companies shifting their business models to lending and other sectors due to lower sustainability of the payments business

Capitalmind to launch Rs 500 cr in maiden AIF, to invest in 20-40 stock

Investment manager Capitalmind Financial Services on Thursday said it aims to raise Rs 500 crore in its maiden alternate investment fund over the next year.

India's fintech industry projected to reach $420 bn by 2029 at CAGR of 31%

The government's push towards a digital economy, coupled with a young and tech-savvy population, is likely to propel the fintech sector to new heights