Page 198 - Finance News
Urban co-operative banks not interested to become SFB: RBI's Satish Marathe
UCBs will also have to comply with the latest guidelines for on-tap licensing of SFBs in the private sector
 "Urban co-operative banks not interested to become SFB: RBI's Satish Marathe")
Danske Bank opposes majority, says rupee bulls wrong as record low looms
The Reserve Bank of India is expected to let the rupee weaken steadily to help local manufacturers fight higher inflation and support exports
 "Danske Bank opposes majority, says rupee bulls wrong as record low looms")
AI to help Mastercard find compromised cards before criminals can use them
In its latest software update rolling out this week, Mastercard is integrating artificial intelligence into its fraud-prediction technology that it expects will be able to see patterns in stolen cards
 "AI to help Mastercard find compromised cards before criminals can use them")
RBI board approves surplus transfer of Rs 2.11 trillion to govt for FY24
The RBI said the board decided to raise the contingency risk buffer to 6.5% from 6% previously
 "RBI board approves surplus transfer of Rs 2.11 trillion to govt for FY24")
Bank of America bullish on rupee despite election led market volatility
The rupee inched up 0.1 per cent to 83.22 per dollar on Wednesday, the highest since April 10
 "Bank of America bullish on rupee despite election led market volatility")
Rupee appreciates 7 paise to 83.24 against US dollar in early trade
On Tuesday, the rupee appreciated 6 paise to close at 83.31 against the US dollar
 "Rupee appreciates 7 paise to 83.24 against US dollar in early trade")
Govt eyes Rs 1 trillion in dividend from RBI to meet budget deficit target
A big surplus transfer will help the government in meeting any shortfall in disinvestment receipts and create room for funding welfare programmes after the elections
 "Govt eyes Rs 1 trillion in dividend from RBI to meet budget deficit target")
Finance Ministry asks PSBs to review their IT disaster preparedness
Initially, the government directed major banks such as SBI, BOB and Canara Bank to assess their disaster recovery systems
 "Finance Ministry asks PSBs to review their IT disaster preparedness")
Only 2% personal guarantee claims recovered under IBC so far: IBBI
One of the initial challenges of the process was whether a banker's agreement with the company and the personal guarantor is interlinked or separate
 "Only 2% personal guarantee claims recovered under IBC so far: IBBI")
Reserve Bank of India net dollar purchases in FY24 highest since FY21
March dollar purchase highest since June 2021
 "Reserve Bank of India net dollar purchases in FY24 highest since FY21")
RBI bought net $13.25 bn in spot forex market in March, shows bulletin
The RBI said it purchased $14.84 billion and sold $1.59 billion during the month. In the previous month, it had bought a net $8.56 billion in the spot market
FinMin likely to raise FY25 CPSE dividend target by Rs 5K cr in full Budget
In the interim budget 2024-25, the government had pegged dividend estimates from non-financial central public sector enterprises (CPSEs) at Rs 48,000 crore for the current fiscal
 "FinMin likely to raise FY25 CPSE dividend target by Rs 5K cr in full Budget")
Pine Labs gets approval from Singapore court to relocate base to India
Pine Labs' decision to shift domicile follows a broader trend among fintech firms like PhonePe and Groww, which have also moved their bases back to India
 "Pine Labs gets approval from Singapore court to relocate base to India")
Rupee appreciates 6 paise to 83.31 against US dollar in early trade
On Friday, the rupee had settled 13 paise higher at 83.37 against the US dollar. The forex markets were closed on Monday on account of general elections
India's inclusion in global bond index not enough to lift rating: Moody's
De Guzman's comments mirror global investors' generally bullish outlook on the country that's been layered with notes of caution about macroeconomic challenges
 "India's inclusion in global bond index not enough to lift rating: Moody's")
Gold loan business is shining as regulatory scrutiny of sector grows
Recent RBI actions many increase companies' operational cost for but there is enough headroom for growth, say experts
 "Gold loan business is shining as regulatory scrutiny of sector grows")
Narayanan Vaghul: A generous leader and true colossus of Indian banking
His life and career exemplify that decency, simplicity, and forward-thinking can lead to success at the highest levels
 "Narayanan Vaghul: A generous leader and true colossus of Indian banking")
Need proactive risk mitigation measures to tackle cyberattacks: RBI
"Therefore, regulations for cooperative banks are becoming harmonised with that for commercial banks, but with certain calibrations wherever required," he noted
 "Need proactive risk mitigation measures to tackle cyberattacks: RBI")
IFC extends $500 million credit line to HDFC Bank for micro loans
Presently, non-banking financial companies (NBFCs), including microfinance institutions (MFIs) and small finance banks, are the major lenders to women seeking loans for income generation purposes
 "IFC extends $500 million credit line to HDFC Bank for micro loans")
Creditors' haircuts in bankruptcy cases jump to 73% in FY24: Report
A total of 269 resolution plans were approved by the National Company Law Tribunals (NCLTs) in FY24, up from 189 in the year-ago period, the report by domestic rating agency Icra said
 "Creditors' haircuts in bankruptcy cases jump to 73% in FY24: Report")