Page 189 - Finance News

RBI's action against regulated entities rises even as amounts fall

According to Financial Stability Report, the enforcement action by the banking regulator increased to 161 entities in December 2023 - May 2024 from 146 entities in June 2023 - November 2023

Banks' LCR declines to 130% from 135% between September, March: RBI

The RBI report says that banks' efficiency indicators weakened due to rising staff costs and increased cost-to-income ratio

RBI Governor Das cautions against tech-led disruptions in financial system

Matrix of financial stability at its best, challenge is to improve, says Das

CBIC to launch automated currency exchange rate publishing system on July 4

The online Exchange Rate Automation Module (ERAM) system will replace the existing manual process of notifying exchange rates through a notification

Govt securities to be included in JP Morgan Bond Index from June 28

India's weight is expected to reach the maximum threshold of 10 per cent in the GBI-EM Global Diversified, and approximately 8.7 per cent in the GBI-EM Global Index

Financial system resilient, banks GNPAs fall to multi-year low at 2.8%: RBI

Scheduled Commercial Banks' GNPA ratio fell to a multi-year low of 2.8 per cent and the net non-performing assets (NNPA) ratio to 0.6 per cent at end-March 2024, it said

Rupee appreciates 8 paise to 83.49 against US dollar in early trade

Forex traders said the strength of the American currency in the overseas market and foreign fund outflows weighed on the local unit and restricted the upmove

Banks may rework PSL plans for districts as RBI tweaks incentive structure

In a notification last week, RBI said the lists of districts have been updated after a review. These lists will remain valid until FY 2026-27

Credit cards circulation increases by 18% to 103.3 million in May

Credit card spending in May 2024 increased by 17 per cent Y-o-Y to Rs 1.65 trillion from Rs 1.55 trillion in April 2024, rising by 6.45 per cent

Demand for longer-duration bonds likely to rise: ICICI Prudential Life

Upon inclusion, Indian bonds will have the highest duration among the index members at 7.03 years, with yield-to-maturity at 7.09%, according to a recent JPMorgan note

Flipkart group launches super.money to re-enter India's fintech space

Apart from payments on Unified Payments Interface (UPI), the platform will offer services such as credit, deposit, credit card, among others

SBI raises Rs 10,000 cr via 15-year infrastructure bonds at 7.36% coupon

The coupon of 7.36 per cent represents a spread of 21 basis points (bps) over the corresponding government bond curve

Inox Green Energy Services board approves fundraise worth Rs 1,050 crore

The board of directors at its meeting held today approved the fund raise aggregating up to Rs 1,050 crore by way of a preferential issue, the company said in an exchange filing

Key factors to know as India enters JPMorgan emerging market debt index

The announcement of the change was made in September, setting the stage for billions of dollars to flow into the world's fifth-largest economy

SBI raises Rs 10,000 cr via infrastructure bond issuance to fund projects

The country's largest lender raised the funds at a coupon rate of 7.36 per cent

Rupee weakens amid dollar bids related to expiry of currency futures

Asian peers dipped, weighed by concerns that US interest rates could remain high for longer

Banks seek clarification on RBI's credit card network choice guidelines

The Reserve Bank of India's directive, which will go into effect in September, requires banks and non-banking financial companies to provide customers options to choose multiple card networks

Digital currency transactions slump after reaching initial RBI's target

RBI started a pilot for the e-rupee, devised as a digital alternative to physical cash, in December 2022, and successfully reached a target of 1 million retail transactions per day

Policymakers at Reserve Bank remain divided over rate-growth debate

The split in the views show a widening gap between the external and internal members on how to balance economic growth and inflation

Co-lending committee to submit report to finance ministry by next month

After the committee submits the report, the Department of Financial Services is expected to formulate guidelines to boost the co-lending space