Page 215 - Finance News
Julius Baer Group fills several key roles amid India wealth surge
Abhishek Chandra, formerly a senior executive vice president at Kotak Mahindra Bank, has joined as chief operating officer of the Swiss firm's Indian unit, the bank said in a statement Monday
 "Julius Baer Group fills several key roles amid India wealth surge")
RBI prohibits IIFL Finance from sanctioning, disbursing gold loans
The Reserve Bank on Monday barred IIFL Finance with immediate effect from sanctioning or disbursing gold loans after certain material supervisory concerns were observed in its gold loan portfolio.
 "RBI prohibits IIFL Finance from sanctioning, disbursing gold loans")
10-year govt bond yield remain flat in absence of any major triggers
Indian bond yields opened lower after U.S. yields eased on Friday, with the 10-year U.S. yield falling to levels last seen three weeks ago
 "10-year govt bond yield remain flat in absence of any major triggers")
Powergrid board approves proposal to raise up to Rs 1,200 crore via bonds
On the size of the issue, the company said the base size is Rs 400 crore, along with the green shoe option of Rs 800 crore
 "Powergrid board approves proposal to raise up to Rs 1,200 crore via bonds")
Rupee appreciates 4 paise to 82.87 against US dollar in early trade
A positive sentiment in the equity markets supported the rupee, though the local unit was weighed down by an upward movement in the crude oil prices, forex traders said
 "Rupee appreciates 4 paise to 82.87 against US dollar in early trade")
Rising interest rates prompting more people to go in for term deposits
Their share in total deposits increased to 20.6 per cent in December 2023 from 20.2 per cent in September 2023
 "Rising interest rates prompting more people to go in for term deposits")
Majority of users to stop using UPI if it attracts transaction fee: Report
However, a sizable number of respondents claimed that they have experienced a transaction fee being levied on their UPI payment once or more in the last one year, it added
 "Majority of users to stop using UPI if it attracts transaction fee: Report")
FM Sitharaman to inaugurate conference of GST enforcement chiefs on Monday
It would also strategise on effective methods to combat fake invoicing, sharing best practices, fostering synergy, and leveraging technology and data
 "FM Sitharaman to inaugurate conference of GST enforcement chiefs on Monday")
Reserve Bank of India widens scope of BBPS to non-bank payment aggregators
Number of participants on BBPS to go up with participation of PAs
 "Reserve Bank of India widens scope of BBPS to non-bank payment aggregators")
Liquidity deficit narrows to less than Rs 1 trn as govt spending picks up
Liquidity may not improve immediately as tax outflows of around Rs 1.25 trn are scheduled in March, says one expert
 "Liquidity deficit narrows to less than Rs 1 trn as govt spending picks up")
NEFT records a high of 41 million transactions in a single day: RBI
The banking regulator said its NEFT system has registered a growth of 700 per cent in terms of the volume of transactions in the past ten years
Personal loan growth stays high in January despite hike in risk weights
The personal loan segment grew 21 per cent year-on-year (Y-o-Y) in January, compared to the 22.3 per cent Y-o-Y growth registered in October 2023
 "Personal loan growth stays high in January despite hike in risk weights")
Bihar traders offered 'one-time settlement' for pre-GST era tax liabilities
The Bihar Tax Disputes Settlement Bill, 2024 was tabled in the state assembly by Deputy Chief Minister Samrat Chaudhary, who also holds the finance portfolio
 "Bihar traders offered 'one-time settlement' for pre-GST era tax liabilities")
Retail inflation for industrial workers eases to 4.59% in January
Food inflation stood at 7.66 per cent in January 2024 against 8.18 per cent in December 2023. Food inflation was 5.69 per cent in January 2023 a year ago, a labour ministry statement said
 "Retail inflation for industrial workers eases to 4.59% in January")
RBI revises norms to streamline bill payments process, enable participation
'These directions seek to streamline the process of bill payments, enable greater participation, and enhance customer protection among other changes,' RBI said
REC to issue deep-discount bonds to raise Rs 5,000 crore in March
The state-run financier plans to raise the money through 10-year, deep-discount bonds and the issue is likely to see strong investor demand, the sources said
 "REC to issue deep-discount bonds to raise Rs 5,000 crore in March")
Rupee appreciates 2 paise to 82.89 against US dollar in early trade
Market participants were also awaiting the domestic GDP data to be released later in the day, they said
 "Rupee appreciates 2 paise to 82.89 against US dollar in early trade")
RBI conducts two VRRR auctions as money market rates fall below repo rate
The RBI received Rs 20,860 crore bids against the notified amount of Rs 50,000 crore at the first auction
 "RBI conducts two VRRR auctions as money market rates fall below repo rate")
Rupee flat at 82.89 against dollar amid unabated outflow of foreign funds
At the interbank foreign exchange, the local currency opened at 82.90 and then inched up to trade at the previous day's closing level of 82.89 against the greenback
 "Rupee flat at 82.89 against dollar amid unabated outflow of foreign funds")
Revisit sops for loans to push housing sector growth: Khara at BS IMLC
Pointing to economic spinoffs, such as creating jobs, Dinesh Khara, chairman, says it's time to revisit tax benefits for loans
 "Revisit sops for loans to push housing sector growth: Khara at BS IMLC")