Page 232 - Finance News
Govt raises Sukanya Samriddhi, 3-yr term deposit interest rates by 20 bps
the deposit under Sukanya Samriddhi scheme would attract an interest rate of 8.2 per cent from the existing 8 per cent, while the 3-year term deposit would become 7.1 per cent
 "Govt raises Sukanya Samriddhi, 3-yr term deposit interest rates by 20 bps")
Bank credit growth to industry decelerates to 6.1% in Nov: RBI data
Among major industries, year-on-year credit growth to basic metal & metal products, food processing and textiles accelerated in Nov 2023 as compared with the corresponding month of the previous year
 "Bank credit growth to industry decelerates to 6.1% in Nov: RBI data")
SJVN secures Rs 10,000 cr construction finance facility from banks
State-owned SJVN Ltd has secured Rs 10,000 crore construction finance facility to fund its upcoming renewable energy projects from a group of leading domestic and international lenders
 "SJVN secures Rs 10,000 cr construction finance facility from banks")
RBI extends Payments Infrastructure Development Fund scheme till 2025
Apart from physical and digital devices, Soundbox devices and Aadhaar-enabled biometric devices have been made eligible for subsidy under the PIDF scheme
 "RBI extends Payments Infrastructure Development Fund scheme till 2025")
Many Indian HNIs being asked by foreign banks to shut accounts: Report
Two British banks, one Swiss bank and a leading Emirates lender have closed the accounts of these Indians in the last two months
 "Many Indian HNIs being asked by foreign banks to shut accounts: Report")
PNB gets board approval to raise Rs 7,500 crore through QIP or FPO
The fundraising exercise will be done in one or more tranches during the next financial year, the state-owned bank said in a late-evening regulatory filing
 "PNB gets board approval to raise Rs 7,500 crore through QIP or FPO")
Retail investor interest in derivative trading, SMIDS concerning: RBI
The report said that the rally in the mid, small, and microcap segments was significantly larger than the gains made by the benchmark Nifty this year
 "Retail investor interest in derivative trading, SMIDS concerning: RBI")
RBI permits ICICI Pru Mutual Fund to acquire 10% stake in Federal, RBL Bank
Federal Bank on Thursday said the Reserve Bank of India has accorded approval to ICICI Prudential Asset Management Company Ltd (ICICI AMC) for acquiring up to 9.95 per cent stake in the bank
 "RBI permits ICICI Pru Mutual Fund to acquire 10% stake in Federal, RBL Bank")
Sebi tweaks norms for online bond platform providers to boost ease of biz
This move came after Sebi received representations from stock exchanges and market participants, including online bond platforms
 "Sebi tweaks norms for online bond platform providers to boost ease of biz")
SBI, HDFC Bank will need to maintain higher capital from FY25, says RBI
The additional Common Equity Tier 1 (CET1) requirement will be in addition to the capital conservation buffer
 "SBI, HDFC Bank will need to maintain higher capital from FY25, says RBI")
Fund pick: Mirae Asset Large & Midcap Fund
Fund pick of Mirae Asset Large & Midcap Fund
 "Fund pick: Mirae Asset Large & Midcap Fund")
Gold glitter on global cues, jumps Rs 450; silver climbs up by Rs 400
Gold prices surged Rs 450 to Rs 64,300 per 10 grams in the national capital on Thursday amid strong global cues, according to HDFC Securities
 "Gold glitter on global cues, jumps Rs 450; silver climbs up by Rs 400")
Insurers should be allowed to invest in new asset classes: LIC Chairman
Mohanty called for a framework facilitating regular interaction among regulators
 "Insurers should be allowed to invest in new asset classes: LIC Chairman")
Vehicle loan AUM for NBFCs to cross Rs 8 trillion in 2024-25: CRISIL
The growth in AUMs will be driven by rising demand for commercial vehicles, cars, utility vehicles, and two-/three-wheelers
 "Vehicle loan AUM for NBFCs to cross Rs 8 trillion in 2024-25: CRISIL")
Financial sector set to see churn in 2024 with major leadership changes
Das will be the longest-serving RBI governor in almost seven decades once he completes his full term. A new govt that will be formed in May will take a call on extending his term further
 "Financial sector set to see churn in 2024 with major leadership changes")
Total amount of frauds reported by banks declines to six-year low: RBI
However, the number of frauds that were reported by banks have gone up from 7,263 frauds in 2020-21 to 13,576 in 2022-23
ToneTag launches CUSP for digital payments, contactless tokenised cards
It supports secure offline data transfer to enable contactless payments, and voice computing for voice payment experience, among other features
 "ToneTag launches CUSP for digital payments, contactless tokenised cards")
RBI implements govt securities lending directions with immediate effect
In February of the same year, the central bank had released draft norms for lending and borrowing of government securities aimed at expanding participation in the securities lending market
 "RBI implements govt securities lending directions with immediate effect")
RBI warns banks, NBFCs against reliance on model-based lending practices
The regulator said inherent biases and lack of transparency with AI/ML outcomes carry risks
RBI asks NBFCs to broad-base fundraising, reduce dependence on banks
According to the report 'Trend and Progress of Banking in India 2022-23' released by the RBI, the Indian banking system and NBFCs remain sound and resilient, backed by high capital ratios
 "RBI asks NBFCs to broad-base fundraising, reduce dependence on banks")