Page 228 - Finance News
Hitting the mark: Govt on course to stick to FY24 borrowing target
Next financial year also likely to see similar target
 "Hitting the mark: Govt on course to stick to FY24 borrowing target")
P2P lending: Barking up the wrong tree?
Around 15 P2P platforms went live, but one-third of them have shut up shop. Analysts say four of them have more than 90 per cent of the market share
 "P2P lending: Barking up the wrong tree?")
MPC's Jayanth R Varma envisions lower inflation, higher growth in 2024
"On the whole, I have a great deal of confidence that India will be able to navigate the uncertainties that lie ahead," he said
 "MPC's Jayanth R Varma envisions lower inflation, higher growth in 2024")
RBI imposes Rs 2.49 crore penalty on 3 banks including Punjab & Sind
A penalty of Rs 1.20 crore has been slapped on Dhanlaxmi Bank for non-compliance with certain directions on 'Loans and Advances Statutory and Other Restrictions'
 "RBI imposes Rs 2.49 crore penalty on 3 banks including Punjab & Sind")
FM seeks more participation from French financial institutions at GIFT City
Finance Minister Nirmala Sitharaman on Friday met French President Diplomatic Advisor Emmanuel Bonne and sought greater participation from French financial institutions
 "FM seeks more participation from French financial institutions at GIFT City")
On a high note: Bank deposits double in a little over 7 years, shows data
Two crucial events which helped to scale up deposits base were demonetisation of Rs 500 and Rs 1,000 notes in 2016, and return of Rs 2,000 notes in the banks in 2023
 "On a high note: Bank deposits double in a little over 7 years, shows data")
At $617 bn, India's foreign exchange reserves slip from near 22-month highs
The reserves witnessed the steepest decline in nearly five months, falling $5.9 billion for the reported week, following a cumulative increase of $32.9 billion in the preceding seven weeks
 "At $617 bn, India's foreign exchange reserves slip from near 22-month highs")
Indian Bank inks pact with FPL Tech to launch co-branded credit card
Leveraging the Visa and RuPay platforms, the cards would be issued by Indian Bank and managed by FPL Technologies
 "Indian Bank inks pact with FPL Tech to launch co-branded credit card")
SBI launches green rupee term-deposit scheme for climate-friendly projects
Currently, the scheme is available through the branch network and it will soon be made available through digital channels such as Yono and online banking, chairman Dinesh Khara said in a statement
 "SBI launches green rupee term-deposit scheme for climate-friendly projects")
Rupee falls 4 paise to 83.05 against US dollar; brent crude futures surge
Brent crude futures, the global oil benchmark, surged 1.83 per cent to USD 78.83 per barrel
 "Rupee falls 4 paise to 83.05 against US dollar; brent crude futures surge")
Indian crypto firms welcome US SEC approval for bitcoin ETF, draw hope
US regulator's decision will create 'new era' of crypto asset adoption, they say
 "Indian crypto firms welcome US SEC approval for bitcoin ETF, draw hope")
GST intel unit detected over Rs 1.98 trn worth tax evasion cases in 2023
The GST intelligence unit detected tax evasion of more than Rs 1.98 lakh crore last year and arrested 140 masterminds who were involved in defrauding the exchequer, the finance ministry said
 "GST intel unit detected over Rs 1.98 trn worth tax evasion cases in 2023")
India's outward FDI nosedives to $2.25 billion in December: RBI data
Outbound FDI, expressed as a financial commitment, comprises three components: equity, loans, and guarantees
 "India's outward FDI nosedives to $2.25 billion in December: RBI data")
RBI asks CROs of banks to take pre-emptive measures to mitigate risks
The Reserve Bank of India has asked chief compliance officers and Chief Risk Officers (CROs) to be proactive and take pre-emptive measures to mitigate risks.
Learnings from IBC suggest need for 'some course correction': RBI chief Das
The IBC, which came into force in 2016, is a key legislation aimed at resolving stressed in a time-bound and market-linked manner
 "Learnings from IBC suggest need for 'some course correction': RBI chief Das")
UPI best payments system, RBI not averse to having rival of NPCI: Das
Reserve Bank Governor Shaktikanta Das on Thursday dismissed criticism from certain quarters that after the huge success of UPI and asserted that there is more room for the payment app to grow
 "UPI best payments system, RBI not averse to having rival of NPCI: Das")
UK plans new framework to tackle small bank failures after SVB collapse
The proposals would require the industry to meet some costs associated with the bank failures rather than the taxpayer, Britain's Treasury said
 "UK plans new framework to tackle small bank failures after SVB collapse")
India's financial conditions improved significantly in Dec: CareEdge
External factors like geopolitical tensions and energy prices must be monitored, says rating agency
 "India's financial conditions improved significantly in Dec: CareEdge")
Cybersecurity threat to banking system a major challenge: RBI Governor
Regulator has dedicated team to check IT systems of banks and NBFCs, says Shaktikanta Das
 "Cybersecurity threat to banking system a major challenge: RBI Governor")
'Don't think world can afford cryptomania', says RBI Guv Shaktikanta Das
'I don't think the world or emerging markets can take a cryptomania like the Tulipmania, said the RBI Governor at Mint's BFSI Summit
 "'Don't think world can afford cryptomania', says RBI Guv Shaktikanta Das")