Page 242 - Finance News

India's forex reserves drop $462 million to $590.321 billion: RBI

In the previous reporting week, the overall reserves had increased by $4.672 billion to $590.783 billion

Indian lenders' tech challenges frustrate efforts to grab market share

Bajaj Finance was directed on Wednesday to stop offering credit via two products that failed to comply with digital lending rules

SBI to soon launch Yono Global app in Singapore and US, says official

Krishnan held talks with Singapore-based digital platform enablers as well as the local regulator and central bank, the Monetary Authority of Singapore

RBI's ban on Bajaj Finance's eCOM and Insta EMI Card: All you need to know

Bajaj Finance said it is temporarily suspending the sanction and disbursal of new loans under the two products

Rupee reaches 83.25 against US dollar after fall of 2 paise in early trade

At the interbank foreign exchange market, the rupee opened flat at 83.23 against the US currency following overnight losses in crude oil prices

India bond yields seen easing as oil, US peers decline; debt sale eyed

The 10-year benchmark bond yield is expected to move in a range of 7.21%-7.26%, after ending the previous session at 7.2356%, a trader with a primary dealership said

UCO Bank approaches CBI for probing IMPS glitch, says systems safe

State-owned lender says it has recovered 79% of wrongly credited amount after the glitch

NBFC assets to grow 25-30% in FY24-25, caution on unsecured loans: Icra

On the asset quality front, the agency said the reported Gross Stage 3 (GS3) of the entities it assessed was manageable at 2.6 per cent in March 2023 as against 4.2 per cent in March 2022

RBI imposes penalty on Axis Bank, Manappuram Finance for violating norms

The central bank imposed a monetary penalty of Rs 42.78 lakh on Manappuram Finance on account of failing to adhere to certain regulations

RBI tightens norms on consumer loans, raises risk weight on credit exposure

Personal loan and Credit Cards loan may become costly

Two Japanese banks set to start operations in GIFT City: IFSCA chief

We also want Indian origin funds and businesses that are located in tax-free jurisdictions to return home and be part of the growing GIFT City hub, said Rajaraman

UCO Bank recovers 79% of wrongly credited amount after technical glitch

The state-owned bank is yet to clarify whether this technical glitch was due to human error or a hacking attempt

UCO Bank recovers 79% of wrongly credited amount after IMPS glitch

UCO Bank on Thursday said that it has initiated requisite actions to recover the remaining Rs 171 crore

Technical snag hits UCO Bank's IMPS; impact yet to be ascertained

As a precautionary measure the bank has made the IMPS channel offline

Microfinance sector lent Rs 3.48 trn in FY23, NBFC-MFI topped: Report

NBFC-MFI and banks comprise 73.90% of total lending by microfinance institutions

NPCI explores methods to increase RuPay on UPI payment adoption by vendors

UPI payments via RuPay credit cards have experienced slower adoption due to confusion in transaction classification

Rupee appreciates 32 paise to 83.01 against US dollar in early trade

Forex traders said the rupee opened on a bullish note as the American currency weakened after US Inflation eased to its lowest level since September 2021

India's FDI share gain more than others in its backyard, shows data

But total FDI into India down 22% at $46 billion in FY23, according to the RBI

Rupee little changed as RBI support aids, inflation data in focus

While state-run banks were supplying dollars in the spot market even on Monday, traders said it was difficult to ascertain whether it was for their clients or for the RBI

Consumer durables sales see a pick-up on lucrative festival finance schemes

Premiumisation gets a push due to longer term EMIs and lower upfront payments