Page 205 - Finance News
Rupee appreciates 6 paise to 83.30 against US dollar in early trade
On Monday, the rupee appreciated by 8 paise to close at 83.36 against the US dollar
 "Rupee appreciates 6 paise to 83.30 against US dollar in early trade")
CD issuances fall significantly in April as liquidity conditions ease
Total CD issuances amounted to around Rs 19,850 crore as of 21 April, a significant decrease from the Rs 1.2 trillion worth of issuances in March
 "CD issuances fall significantly in April as liquidity conditions ease")
50% leadership of PSBs needs to do a catch up on digitisation: Study
The senior management at banks typically includes chief executive officers, assistant CEOs, chief financial officers and any other senior executive officers
 "50% leadership of PSBs needs to do a catch up on digitisation: Study")
Sustained growth of 7% feasible for India: RBI MPC member Shashanka Bhide
During 2023-24, the economy is likely to record a growth rate of near 8 per cent on account of good performance of manufacturing and infrastructure sectors
 "Sustained growth of 7% feasible for India: RBI MPC member Shashanka Bhide")
India needs rate cuts to reach potential growth: MPC members Varma, Goyal
Earlier this month, the MPC kept the lending rate steady at 6.5 per cent for the seventh meeting in a row after having raised it by a total of 250 basis points between May 2022 and February 2023
 "India needs rate cuts to reach potential growth: MPC members Varma, Goyal")
Rupee appreciates 5 paise to 83.39 against US dollar in early trade
On Friday, the rupee appreciated 8 paise to close at 83.44 against the US dollar
More than 7 years after demonetisation, ATMs are back in spotlight
Demand for cash has increased as e-commerce, retail firms expand. Cash-on-delivery accounts for more than 60% of e-commerce payments
 "More than 7 years after demonetisation, ATMs are back in spotlight")
Tata Group seeks regulatory approval to avoid listing NBFC, says report
The Reserve Bank of India's (RBI) revised regulations in October 2021 require that large non-banking finance companies (NBFCs) list their shares within three years
 "Tata Group seeks regulatory approval to avoid listing NBFC, says report")
Housing financier Altum Credo raises $40 mn from Z3Partners, Oikocredit
The 2017-founded company said the Series C round includes a USD 27 million fundraise in fresh equity and USD 13 million in partial exit to Series A investors, a statement said
 "Housing financier Altum Credo raises $40 mn from Z3Partners, Oikocredit")
Need to preserve success on inflation control on durable basis: Das at MPC
The Reserve Bank on Friday released the minutes of the Monetary Policy Committee (MPC) meeting on Friday
 "Need to preserve success on inflation control on durable basis: Das at MPC")
Andromeda expects 20% growth in loan disbursals, aims for Rs 1 trn in FY25
Loan distributor Andromeda expects around 20 per cent growth in loan disbursals to around Rs 1 lakh crore during the current fiscal, driven primarily by mortgage demand.
 "Andromeda expects 20% growth in loan disbursals, aims for Rs 1 trn in FY25")
Sundaram Home Finance eyes Rs 300 crore disbursements in Rajasthan
The Chennai-based company offers home loans, plot loans, home improvement and extension loans and loans against property. It had recently strengthened its presence in Western parts of the country
Manappuram Finance to raise up to $500 mn via external commercial borrowing
In the filing, the company said its financial resources and management committee of the board at its meeting held on April 19, 2024, has approved the fundraising proposal
 "Manappuram Finance to raise up to $500 mn via external commercial borrowing")
As oil rises, rupee falls 6 paise to 83.58 against US dollar in early trade
On Thursday, the rupee rebounded from its all-time low level and closed 9 paise higher at 83.52 against the US dollar
 "As oil rises, rupee falls 6 paise to 83.58 against US dollar in early trade")
Rupee appreciates 12 paise to 83.49 against US dollar in early trade
On Tuesday, the rupee plunged 17 paise to hit its lowest level of 83.61 against the US dollar for the second time in four weeks
 "Rupee appreciates 12 paise to 83.49 against US dollar in early trade")
RBI mandates offline payment aggregators to verify KYC for merchants
Payment aggregators will need to conduct Contact Point Verification and verify the bank account where funds of small merchants are settled
 "RBI mandates offline payment aggregators to verify KYC for merchants")
RupeeQ aims Rs 300 cr loan disbursement portfolio on rural expansion
According to reports, India shall have 900 million active internet users by 2025, while 56 per cent of all new internet users will be from rural areas, and 65% of new internet users will be female
 "RupeeQ aims Rs 300 cr loan disbursement portfolio on rural expansion")
Amazon Pay explores credit on UPI through collaboration with NPCI
NPCI recently unveiled new features for UPI-linked RuPay credit cards, including EMI facilities, UPI AutoPay for credit card bill settlements, and enhanced credit limit
 "Amazon Pay explores credit on UPI through collaboration with NPCI")
Top financial regulators plan panel to weigh risks in derivatives market
The panel will be set up by the Financial Stability Development Council, which includes the finance minister, the central bank governor and the market regulator, the sources said
 "Top financial regulators plan panel to weigh risks in derivatives market")
Rupee depreciates 9 paise to 83.53 against US dollar in early trade
On Monday, the rupee declined 6 paise to settle at 83.44 against the US dollar