Page 21 - Finance News

Unclaimed assets worth ₹2,000 cr provided to rightful owners in Oct, Nov

The government launched the campaign on October 4 to facilitate the settlement of unclaimed financial assets, including bank deposits, insurance, dividends, shares, mutual funds and pensions

RBI Governor asks banks for transmission of rate cut to customers

Since February 2025, the RBI has trimmed the key policy rate by 125 basis points to 5.25% to support growth. India recorded an 8% GDP growth in the first half of the current financial year

Alternative credit NBFC BlackSoil Capital raises ₹65 crore from FMO

With this equity round, BlackSoil Capital further consolidates its position as a specialised, institution-grade lender

RBI overlap relief averts 2-6% hit to bank groups' advances, says CRISIL

CRISIL said RBI's final guidelines allowing overlapping lending within bank groups avert a 2-6 per cent hit to advances for 12 large groups, while keeping key NBFC and ARC proposals

Airpay gets RBI nod to operate as cross-border payment aggregator

The milestone positions airpay as a homegrown full-stack payments infrastructure provider for Indian enterprises, D2C brands and SMEs for both domestic and global markets

Why India's Cities can't crack property tax even after digital push

Cities are experimenting with online portals, waivers and service linkages, yet India's property tax collections remain weak, undermining municipal finances even as urban responsibilities keep rising

Bajaj Finance to Muthoot Finance: NBFCs outpace banks once again

Retail NBFCs like Bajaj Finance, Muthoot and Shriram Finance are expanding faster than banks, led by strong demand in gold loans, vehicles and housing finance, analysts say

RBI allows residents, non-residents to undertake rupee IRD transactions

New master directions allow residents and non-residents to trade rupee interest rate derivatives, with a PVBP limit of Rs 1,000 crore for foreign entities' speculative positions

Wise to roll out multi-currency prepaid forex card for users in India

The UK fintech enters India's cross-border payments space, offering a card with 0.5% average FX fee and mid-market rates, challenging traditional markups

Berkley IFSC Branch first P&C insurer in GIFT City with dual licences

Berkley Insurance Company IFSC Branch has become the first P&C insurer in GIFT City to hold both insurance and reinsurance licences, and will focus on specialty lines by end-FY26

Wise to double down on cross-border payments, roll out prepaid forex card

Over 75,000 users waitlisted; fintech eyes cross-border payment expansion after securing RBI's in-principle PA-CB nod

Banks cut loan rates for retail segments after RBI's 25-bps repo cut

Lending rates linked to external benchmarks drop from Dec 6, offering relief to home, vehicle, and personal loan borrowers

Rate Cut effect: PFC, Sidbi plan to raise ₹11,000 crore from bond market

PFC had earlier withdrawn a Rs 3,000 crore three-year bond issuance on November 25 due to elevated corporate bond yields

Simplification of customs will be next big reform, says FM Sitharaman

The announcements to this effect can be made in the upcoming Budget, likely to be presented on February 1

Bond yields rebound from day's low after RBI cut; profit booking weighs

Government bond yields pared early gains on Friday as mutual funds and private banks sold at a profit after the RBI cut the repo rate by 25 bps and announced Rs 1 trillion of OMO purchases this month

RBI's MPC delivers again, takes 2025 rate cut tally to 125 basis points

Repo rate cut by 25 bps, stance still neutral; liquidity boost via ₹1 trn OMO in Dec

Not reading too much into IMF's 'crawl' remark: RBI Dy Guv Poonam Gupta

RBI deputy governor Poonam Gupta says the IMF's 'crawl-like' label is a sub-classification based on recent volatility data, and does not change India's managed-float exchange rate regime

Marginal uptick in unsecured loan slippages not a concern: Swaminathan J

Additionally, he highlighted that unsecured retail loans account for less than 25 per cent of the overall retail book of the banking sector

Unclaimed deposits in Oct reduced by ₹760 cr: RBI deputy guv S C Murmu

Unclaimed deposits fell by ₹760 crore in October as RBI pushes awareness drives, improves UDGAM access, and plans a two-month campaign to clear pending grievances from January 2026

Retail CBDC transactions hit 120 mn, value crosses ₹28,000 crore: RBI DG

Retail CBDC transactions in India have crossed 120 million with a value of over ₹28,000 crore, as RBI works on programmability, new use-cases, and future cross-border capability