Page 262 - Finance News

FSDC-SC resolves to remain vigilant against external vulnerabilities

RBI Governor Shaktikanta Das-headed Sub-Committee of the Financial Stability and Development Council (FSDC-SC) on Monday resolved to remain vigilant against any build-up in vulnerabilities

Bank deposit growth touches six-yr high of 13.5% in fortnight ended Aug 11

Over the past few months, deposit growth has been half of credit growth, and many lenders have had to hike rates to attract depositors

Microfinance institutions' profitability to rise to 2.7-3% this fiscal

Icra Ratings, in a report, said MFIs are likely to report a growth of 24-26% in loan sales this fiscal and 23-25% in FY25 when they are also likely to see a further spurt in profitability to 3.2-3.5%

RBI's liquidity withdrawal pushes bank CD issuances to 3-month high

Banks raised over 350 billion rupees ($4.24 billion) via CDs in the fortnight ended Aug. 25, data from CCIL's F-Trac platform showed

Food inflation transitory as monetary policy restrictive: MPC member Varma

Varma said rural demand was an issue, and a poor monsoon was as much of a growth shock as it was an inflation shock

ITAT nixes additional tax demand on firm for deposits during demonetisation

No reason for tax authorities to disbelieve why cash balance was needed, says tribunal

Jan Dhan Yojana revolutionised financial inclusion in India: FM Sitharaman

Under the scheme, the number of bank accounts grew 3.4-fold from 147.2 million in March 2015, to 500.9 million on August 16, 2023

Rupee appreciates 12 paise to 82.52 against US dollar in early trade

Forex traders said the rupee is trading in a range as selling pressure by foreign investors dented sentiments, while easing crude oil prices cushioned the downside

A step-by-step approach to CBDC

Why would anybody shift from UPI to CBDC? What are its advantages over UPI?

Fresh govt curbs: 'Nearly half of basmati exports may be impacted'

In financial year 23, India exported around 4.6 million tonnes of basmati rice

Powell delivers on expected lines; Indian markets to consolidate: Analysts

The US central bank, Powell said, is prepared to hike the benchmark rates and keep the borrowing costs high until inflation comes in the target range of 2%

I-T dept unveils revamped website for enhanced taxpayer experience

The redesigned website offers a user-friendly interface, value-added features, and new modules to provide taxpayers with easier access to information and services

Centre considers raising retirement age for public sector bank heads, MDs

State Bank of India Chairman Dinesh Khara is likely to get an extension. Khara took over as the chairman of SBI in October 2020 for three years

Adani-Hindenburg row: Sebi's inability to reach verdict worrying, says Cong

The Congress leader said that of the 24 matters SEBI investigated relating to the matter, two still have interim status

NHRC wants Irdai to ensure insurers offer health products to disabled

Disability advocacy groups have long been pushing for comprehensive health coverage for the disabled

Commercial banks' deposit growth nearly at 7-year high, shows RBI data

Deposit growth hit 14.12% on 6 Jan, 2017, months after demonetisation of Rs 1000 currency note and the then Rs 500 note which was announced on 8 November 2016

India's forex reserves post steepest weekly decline in over 6 months

They fell by $7.27 billion from the prior week, the sharpest decline since the week ended Feb 10

RBI governor Shaktikanta Das asks NBFCs to strengthen governance standards

The governor held a meeting with MD & CEOs of select large NBFCs. Government NBFCs and housing finance companies (HFCs) also participated in the meeting, the RBI said in a statement

Irdai directs insurance companies to settle HP flood claims on urgent basis

The relentless floods and landslides that have wreaked havoc in Himachal Pradesh caused widespread loss to property, including homes and businesses, as well as infrastructure

Dollar loiters at two-month peak ahead of fed chair Jerome Powell's speech

Powell is likely to stress that policy outcome remains highly dependent on economic data