Page 263 - Finance News

NHAI seeks industry views amid slow surety bond insurance products growth

Insurers also lack the diverse recovery avenues that banks have, contributing to their hesitation in adopting these insurance products

RBI's MPC to closely monitor food price spike to gauge inflation impact

The MPC, which has three members from the central bank and three external members, kept the repo rate unchanged at 6.50% in an unanimous decision

RBI raises small value payment transaction limit in offline mode to Rs 500

The total limit for offline transactions on a payment instrument, however, remains Rs 2,000

RBL Bank increases savings account interest rates up to 150 basis points

For daily balances between Rs 25 lakh to Rs 2 crore, bank will pay 7.5 per cent (per annum) as against 7.0 per cent rate

First time in 4 years, MFIs overtake banks in microlending with 40% share

Banks controlled 34 per cent of the industry's Assets Under Management (AUM) in FY23 -- down from 40 per cent in FY20 and FY22. Their share had peaked at 44 per cent in FY21

Liquidity continues to be in deficit, banks expect RBI repo auction

Liquidity in system went into deficit mode on Tuesday for the first time in this Financial Year

Rupee appreciates by 25p to settle at three week high of Rs 82.69

The local currency had hit the all-time low closing level of 83.15 per US dollar on Thursday on the back of rise in US Treasury yields

Outward remittances under RBI's LRS rise 50% to $9.1 billion in Q1

According to the latest RBI data, the amount remitted under LRS stood at $9.1 billion in Q1FY24, compared with $6.05 billion in the same quarter last year

Inflation may stay elevated in coming months, says finance ministry

This warrants greater vigilance by govt and RBI: Report

Fintech loan disbursement rose 21% YoY in FY23: FACE-Equifax report

Number of loans disbursed increased 49%; delinquency rate fell

Banking system's liquidity slips into deficit for the first time in FY24

RBI governor had emphasised that the I-CRR move was temporary and that the central bank will ensure adequate liquidity in the system to fund the credit needs of the economy

CreditAccess Grameen expects around 25% growth on loan sales in FY24

In the June quarter, it booked 151.5 per cent growth in net income at Rs 348 crore on lower provisioning as the asset quality improved

FinMin, MCA must strive for simplification of processes: Sitharaman

FM urged to go beyond to explore frontiers beyond their set roles and make an extra impact on other domains as well so that synergistic thoughts emerge which can be useful for the overall Ministry

PHDCCI submits recommendations related to housing, banking sectors to RBI

The chamber highlighted several issues related to the banking sector, including the rectification of export realisation purpose codes and the protection of GST input benefits.

Inflation pressures warrant government, central bank vigilance: FinMin

The ministry's comments come weeks after data showed retail inflation in July rose to its highest in 15 months, as vegetable and cereals prices skyrocketed

Price pressure in food items to be transitory, says finance ministry

The consumer price index based retail inflation spiked to a 15-month high of 7.44 per cent in July 2023, with specific food commodities mainly driving the increase

SBI Fund Management turns to cash on bets RBI will hike rates further

The assessment makes it one of the very few money mangers to call for a rate increase, with most market players just pushing back the rate-cut bets to later next year

Rupee appreciates 7 paise to 83.06 against US dollar in early trade

At the interbank foreign exchange, the domestic unit opened at 83.07, then touched a high of 83.06 against the American currency, registering a rise of 7 paise over its last close

Banking system's liquidity slips into deficit for first time in FY24

Banking system liquidity stood at a deficit or 236 billion rupees ($2.84 billion) as of Aug. 21, according to RBI data

Shadow banking: India bets on Jio and a boom, while China hits a funk

The trajectory of financiers, especially those who don't take state-insured deposits, is beginning to diverge in the neighbouring economies