Page 260 - Finance News

Com ministry suggests banks to provide export credit to e-comm exporters

The commerce ministry's arm DGFT on Monday said it has suggested banking and financial institutions to extend pre- and post-shipment export credit in foreign currency

CBDC can fix cross-border payment problems: RBI Governor Shaktikanta Das

RBI governor flags issues of high cost, low speed, limited access

Monetary policy, rate transmission are asymmetric, says SBI report

In comparison, the shorter tenure 3-year AAA corporate bond has seen a 31 bps decline in spread. This is because the market is unlikely to have factored in adequate risk premium, the report said

Loan sanctions through NBFCs slip sharply to 5.7% in June quarter

Housing loans dip 26.6%; high interest plays spoilsport

State Bank of India announces introduction of UPI interoperability on CBDC

This cutting-edge feature, accessible through the 'eRupee by SBI' application will empower SBI CBDC users to effortlessly scan any merchant UPI QR code for swift and secure transactions

NCDRC imposes Rs 25 lakh fine on ICICI Bank for losing customer's documents

The National Consumer Disputes Redressal Commission (NCDRC) has directed ICICI Bank to pay Rs 25 lakh compensation for losing the original property

RBI allows scheduled commercial banks to issue credit lines through UPI

The regulator said banks may, as per their board-approved policy, stipulate terms and conditions of use of such credit lines

IDFC First Bank makes digital rupee app interoperable with UPI QR codes

IDFC First Bank on Monday announced the integration of UPI QR codes with its Central Bank Digital Currency (CBDC) app aimed to enhance the adoption of digital rupee and boost its utilisation

Muthoot FinCorp to raise up to Rs 400 cr via non-convertible debentures

Muthoot FinCorp on Monday announced raising up to Rs 400 crore through issuance of non-convertible debentures (NCDs)

Rupee depreciated 15 paise to 82.77 against US dollar amid firm oil prices

Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell marginally by 0.06 per cent to 104.17

Bank credit outstanding to real estate hits record Rs 28 trn in July: RBI

The credit outstanding in housing rose 37.4 per cent annually in July crossing Rs 24.28 lakh crore, showed the RBI's data on 'Sectoral Deployment of Bank Credit July 2023'

Punjab & Sind Bank plans to raise Rs 250 crore via QIP in third quarter

State-owned Punjab & Sind Bank plans to raise Rs 250 crore through share sale to institutional investors in the third quarter of the current fiscal

NCLT directs to initiate insolvency proceedings against Imperia Structures

The National Company Law Tribunal (NCLT) has directed to initiate insolvency proceedings against Delhi NCR-based realty firm Imperia Structures and has appointed an interim resolution professional.

Jyoti CNC Automation files papers to raise Rs 1,000 crore via IPO

Proceeds from the issue would be used for debt payment, funding long-term working capital requirements of the company, and general corporate purposes

Uday Kotak steps down as MD & CEO of Kotak Mahindra Bank effective Sep 1

In the interim, Dipak Gupta, the joint managing director, will carry out the duties of the MD & CEO until December 31, 2023

IRDAI obliged to ensure persons with disability not unduly prejudiced: HC

Following several judicial orders, various general and health insurance companies, including four government insurance companies, have launched products for persons with disabilities, the court noted

Dependence on cheap Russian crude oil will fall sharply: Hardeep Puri

India's consumption of Russian crude has soared since President Vladimir Putin's invasion of Ukraine in February last year, ousting Saudi Arabia and Iraq from the top spots

Govt invites bids for asset valuer for IDBI Bank to sell majority stake

The Indian government has invited bids to appoint an asset valuer for IDBI Bank as it seeks to sell a majority stake of the lender

PSB Alliance enters supply chain financing, ties up with Veefin Solutions

The PSB Alliance, an entity floated by 12 public sector banks in 2022, is entering the supply chain financing to primarily help small businesses, and aims to tap 5 per cent of the total credit market

Irdai approves modification on withdrawn life insurance products

The alterations are introduced to give additional benefits and flexibility to existing policyholders, ensuring they are not adversely impacted