Page 188 - Finance News

Rupee falls 12 paise to 83.56 against US dollar during early trade

Forex traders said oil importers and foreign portfolio investors (FPIs) bought US dollars amid rising US yields

India to see more bond investors move onshore as index weight rises

The Wall Street firm expects $20-$25 billion of inflows into Indian debt as a result of the index inclusion

RBI appoints Arnab Kumar Chowdhury, Charulatha S Kar as executive directors

Kar has been appointed as Executive Director (ED) with effect from July 1 while Chowdhury has been appointed ED with effect from June 3, 2024, according to the RBI

RBI, four Asean countries tie up for cross-border payments platform

Project Nexus is aimed at making retail cross-border payments efficient, faster and cost-effective, the RBI release said

Accounting standards for banking, insurance sectors soon: MCA secretary

Govil said that discussions are going on with the Reserve Bank of India around accounting standards for the banking industry and they may come out soon

Global tax deal: With MLC deadline gone, DSTs may be reinstated on tech cos

Another tax expert, privy to the developments, added, "The EU countries may soon start asking US tech giants to pay the unpaid taxes soon if the deal is not reached"

Emerging markets: The year's $321 bn bond spree is set to catch its breath

The amount of debt sold by government and corporate borrowers in developing markets has reached $321 billion in the busiest first-half since 2021

GST reduced tax rates on household goods, brought relief to people: FinMin

GST, which subsumed about 17 local tax and cesses, was rolled out on July 1, 2017. The theme of the 7th GST Day is Sashakt Vyapar Samagra Vikas (empowered trade overall growth)

Rs 2000 notes: 97.87% returned; Rs 7,581 cr worth notes still with public

On May 19, 2023, the RBI announced the withdrawal of Rs 2000 denomination banknotes from circulation

Rupee falls 9 paise to 83.43 against US dollar during early trade

The domestic unit, however, found support due to a softening American currency and positive equity market sentiment

Finance world's question to self: Are there too many regulators within?

From fintech to urban cooperatives, a host of industry associations have expressed interest in becoming self-regulatory organisations

Tech to risk perception: Co-lending model battles 'multiple issues'

Colending happens when multiple lending partners enter into an arrangement to provide loans to priority sectors like micro, small, and medium enterprises (MSMEs)

Charge of the light brigade: Charting the rise of micro-ATM channel

The micro-ATM channel has held its own despite growth in digital payments and pricing not being raised

Punjab and Sind Bank plans to raise Rs 2,000 cr via QIP likely in H2 FY25

The fundraising can be concluded in the second quarter or third quarter, depending on market conditions

Economy poised for potentially stable high growth phase: RBI's MPC member

Bhide noted that the monsoon rainfall, which is expected to be normal this year, is a significant positive factor for growth as well as bringing down food inflation

'India Inc can cut paperwork to raise overseas funds with good FATF rating'

The global crime watchdog, FATF on Friday adopted mutual evaluation report on India and placed the country in "regular follow-up" category

Banks' gross NPA ratio falls below 3%, a first since 2012: RBI report

Lenders set to meet minimum capital need even under severe stress

How NBFCs are back in the reckoning

Sector has overcome the after-effects of the pandemic; its credit crossed the Rs 50 trn mark in FY25

Tech to risk perception: Co-lending model battles 'multiple issues'

Model was set up six years ago to strengthen credit flow to sectors that struggle to get financing

RBI red flags NBFC consumer credit, calls for close monitoring of a few

Says need to monitor NBFCs growing fast clip pace with low capital buffers