Page 259 - Finance News
Fund pick: SBI Credit Risk Fund
Fund pick of SBI Credit Risk Fund
 "Fund pick: SBI Credit Risk Fund")
With Indian rupee near record low, RBI steps up NDF intervention: Bankers
The rupee was at 83.1525 to the U.S. dollar as of 11:16 a.m. IST, not too far from its record low of 83.29 hit in October 2022. The currency has largely avoided the decline in its Asian peers
 "With Indian rupee near record low, RBI steps up NDF intervention: Bankers")
Rupee depreciates 2 paise to hit lowest level of 83.15 against US dollar
Forex traders said, massive selling of equities by foreign investors in the past few sessions and subdued market sentiment also put pressure on the Indian currency
 "Rupee depreciates 2 paise to hit lowest level of 83.15 against US dollar")
Rupee to stay weak, third of analysts expect new low within a year: Poll
However, the RBI's regular interventions, which have brought foreign currency reserves below $600 billion, ensured limited depreciation
LIC may need 5 yrs more beyond 2027 comply with public float norms
FinMin-LIC discusses roadmap, stake dilution plans and challenges ahead
 "LIC may need 5 yrs more beyond 2027 comply with public float norms")
UP, Gujarat, West Bengal contribute to more than 30% UPI frauds in India
NPCI takes only an average of 24 hours to respond to frauds
 "UP, Gujarat, West Bengal contribute to more than 30% UPI frauds in India")
India bond yields end flat as all eyes on RBI's I-CRR review this week
The I-CRR could be reduced to 5%-8% in a phased manner from the current 10%, treasury officials have said
 "India bond yields end flat as all eyes on RBI's I-CRR review this week")
RBI Governor urges fintech players to set up self regulatory organisation
Reserve Bank of India Governor Shaktikanta Das on Wednesday urged fintech players to set up a Self Regulatory Organisation (SRO) at the earliest for an orderly growth of the industry
 "RBI Governor urges fintech players to set up self regulatory organisation")
RBI may extend incremental cash reserve ratio with tweaks: Bankers
"The I-CRR is acting as an indirect rate hike and, at best, the RBI could lower the limit taking into consideration tax outflows," a senior treasury official at a private bank said
 "RBI may extend incremental cash reserve ratio with tweaks: Bankers")
Sebi's new cybersecurity guidelines: What it means and their implications
Sebi has issued guidelines to strengthen the existing cyber security and cyber resilience framework for stock exchanges and other market infrastructure institutions
 "Sebi's new cybersecurity guidelines: What it means and their implications")
High interest rates may impact borrowers' debt service capacity: FSB to G20
The FSB has published two letters from its Chair, Klaas Knot, to G20 Leaders ahead of their Summit in New Delhi on September 9-10
 "High interest rates may impact borrowers' debt service capacity: FSB to G20")
Credit market on course to grow to $350 billion by year-end: Vivek Joshi
The digital lending segment stood at USD 270 billion at the end of 2022, Joshi said on the opening day of the fifth edition of the global fintech festival here
 "Credit market on course to grow to $350 billion by year-end: Vivek Joshi")
RBI committed to bring down inflation to 4%: Governor Shaktikanta Das
The central bank has been mandated by the government to keep inflation at 4 per cent with a margin of 2 per cent on either side
 "RBI committed to bring down inflation to 4%: Governor Shaktikanta Das")
Hitachi Payment Services launches India's first-ever UPI-ATM with NPCI
The Hitachi Money Spot UPI ATM is built on Android OS and will allow cardless cash withdrawals
 "Hitachi Payment Services launches India's first-ever UPI-ATM with NPCI")
Govt may not issue green bonds this fiscal due to lack of premium
"The government is not very keen to issue green bonds because of a lack of premium for such issuances. It had hoped for over 20 basis points of premium in the first auction," said the official
 "Govt may not issue green bonds this fiscal due to lack of premium")
RBI plans to widen use of wholesale CBDC in call money market: Official
India's CBDC is currently in a pilot phase across the retail and wholesale segments. The central bank has set a target of one million transactions a day by the end of 2023
 "RBI plans to widen use of wholesale CBDC in call money market: Official")
India has potential to do 100 billion UPI transactions a month: NPCI CEO
This would be a 10-time growth over the 10 billion transactions achieved by the 2016-launched platform in August
 "India has potential to do 100 billion UPI transactions a month: NPCI CEO")
FM Sitharaman asks financial entities to ensure customers nominate heirs
As per a report, the banking system alone has over Rs 35,000 crore of unclaimed deposits, while the overall quantum of the unclaimed money is said to be more than Rs 1 trillion
 "FM Sitharaman asks financial entities to ensure customers nominate heirs")
India on track to be global player due to financial regulations: Experts
The RBI Deputy Governor said India was in a "sweet spot" to grow robustly, despite global turmoil and monsoon risks to growth, and to do so, developing credit markets was essential
 "India on track to be global player due to financial regulations: Experts")
Rupee depreciates 13 paise to 82.84 against US dollar in early trade
Positive sentiment in the equity markets failed to provide support to the Indian currency facing pressure due to the elevated level of greenback, forex traders said
 "Rupee depreciates 13 paise to 82.84 against US dollar in early trade")