Page 186 - Finance News

Foreign currency account usage widens at GIFT City, boosts biz prospects

Latest changes, announced by RBI in a circular late allow Indian investors to use GIFT City as a route for more overseas spending and investments

Ahead of Union Budget 2024-25, DPIIT recommends angel tax removal

The angel tax is on the amount received by a company above the fair market value as income

Top private life insurance firms hike term policy premium by 4-7%

HDFC Life, Bajaj Allianz Life, ICICI Prudential Life, Max Life increase by 4-7%

Govt bond yields flat, traders eye crucial US inflation data for cues

On Wednesday, the Federal Reserve Chair Jerome Powell said he was not yet ready to declare victory over inflation but felt that the economy is on a stable path to steady prices

Rupee appreciates 2 paise to 83.49 against US dollar in early trade

At the interbank foreign exchange market, the local unit opened at 83.49, registering a rise of 2 paise from its previous close

Rupee trades flat at 83.49 against US dollar during early session

Powell's testimony offered little new guidance on the US central bank's plans for when it might cut interest rates

Cash continues to rule small-sized transactions less than Rs 500: Survey

Use of credit rises with increase in transaction value

'We do not worry about (UPI) market share', says Amazon Pay India CEO

When asked if the regulator has been asking them to increase market share, Bansal said the need is to focus on growing the Unified Payments Interface (UPI) ecosystem

Crisis-hit Paytm gets govt panel's nod to invest in payments arm: Report

The approval, which still has to be vetted by the finance ministry, will remove the main stumbling block to the unit, Paytm Payment Services, resuming normal business operations

Financial inclusion index rises with growth across all segments, says RBI

"The value of the index for March 2024 stands at 64.2 vis--vis 60.1 in March 2023, with growth witnessed across all sub-indices," the Reserve Bank of India (RBI) said in a statement on Tuesday

Chatroom: Remittances below $25,000 also need Form A2 now

The RBI has only put up the draft directions on exports and imports of goods and services for public response. The directions would be finalised only after receiving feedback from stakeholders

Group representing NBFCs seeks revisit of membership norm for SRO

Finance Industry Development Council has sought a meeting with the central bank

Q1 FY25 business update of banks: Deposits grew slower than loans

Bank of Baroda posted faster growth in advances than in deposits. The loan book of the BoB grew by 1.73 per cent while deposits improved by 1.59 per cent, sequentially

Securitisation volume increases 17% in Q1 FY25 to Rs 45,000 crore

Participation of banks as originators offsets impact of HDFC's exit from market

Govt bond yields marginally lower as US jobs data boost rate cut hopes

U.S. yields declined on Friday after data showed nonfarm payrolls grew by a slightly higher-than-expected 206,000 jobs in June, but the count for April and May was revised lower by 111,000

Rupee rises 5 paise to 83.44 against US dollar as crude prices come down

At the interbank foreign exchange market, the local unit opened at 83.45 and gained further to 83.44 against the greenback, registering a rise of 5 paise from its previous close

Indian Overseas Bank unveils upgradation facility on savings scheme

The city-headquartered bank said the initiative was in the backdrop of simplifying banking processes by leveraging digital technology providing convenience

We could have done better, no secret about it: Paytm's Vijay Shekhar Sharma

In January this year, the banking regulator placed crippling restrictions on Paytm Payments Bank citing persistent non-compliance at the bank

Fintech funding down 59% to $795 million in H1 2024: Tracxn report

But India's fintech funding market continued to remain amongst the top three globally

RBI cancels licence of K'taka-based Shimsha Sahakara Bank Niyamitha

Consequently, the bank ceases to carry on banking business, with effect from the close of business on Friday (July 05, 2024), the Reserve Bank said in a statement