Page 266 - Finance News

Weekend Bites: A week of pauses, pivots, profits, and big interviews

In which we munch over the week's platter of news and views

Total assets of IFSC banking units surge over 30% to $38.28 billion

In its annual report for 2022-23, IFSCA says volumes of business in IBUs has doubled to $258.59 billion

Bank of Baroda, Canara Bank, BoM hike lending rates by up to 10 bps

The move will make EMIs linked to MCLR expensive

RBI's incremental CRR move a surprise, policy signal: Standard Chartered

The RBI asked banks to hold incremental CRR of 10% on an increase in deposits between May 19 and July 28 in Thursday's monetary policy decision, when it expectedly kept its key policy rate unchanged

India overnight rates jump on RBI's CRR tweak ahead of trading holidays

The weighted average interbank call money rate jumped to 6.66% from an average of 6.38% between Aug. 1 and Aug. 10, and above the policy repo rate of 6.5%

Banks cautious on lending to small businesses despite high demand, low NPAs

Lenders are cautious on providing loans to the micro, small and medium enterprises (MSME) segment, despite high demand, availability of analytical data and lower delinquencies, a report said

Karur Vsysa Bank raises lending rate by 0.15%, to be effective from Aug 14

Karur Vysya Bank announced a hike in benchmark lending rate by 0.15 per cent to 7.75 per cent even as the Reserve Bank left its key interest rates unchanged for the third straight meeting on Thursday

10% incremental CRR temporary, will drain out Rs 1 trn from system: RBI

Short-term rates on money market instruments like call money rates, treasury bills and commercial paper are likely to increase by 15-20 bps in the near term: ICRA

Incremental CRR move to help suck out Rs 1 trn of excess liquidity: Das

While announcing the move, Das had said the return of Rs 2,000 notes since May 19 this year, has led to instances of excess liquidity for which the move was being introduced

Incremental CRR to suck out liquidity of over Rs 1 trn: RBI governor Das

During the RBI MPC announcement, Shaktikanta Das had said that I-CRR is intended to absorb the surplus liquidity generated by various factors, including the return of Rs 2,000 notes to the banks

Tomato woes: MPC pegs inflation at over 6 per cent in current quarter

Inflation unlikely to fall to 4% target even in Q1 FY25; GDP growth projections kept intact

RBI seeks greater transparency in floating interest rates of retail loans

As policy interest rates rise, lenders pass on the burden to customers by either raising their monthly payments or increasing the tenor of their loan

Protean, PayNearby partner for providing credit services on ONDC network

Once launched, the marketplace will also allow for easy discovery of various lending products at affordable pricing, according to a statement

RBI to introduce framework to switch from floating to fixed interest rates

Reserve Bank Governor Shaktikanta Das said under the framework, to be put in place shortly, the lenders will have to clearly communicate with the borrowers about tenor and EMI

You may soon be able to make UPI payments by talking or just tapping phone

RBI governor Shaktikanta Das in the MPC decision announcement on Thursday, proposed to enable 'conversational' payments on UPI using AI

Banks to maintain 10% additional CRR from Aug 12 as temporary measure: RBI

Action is part of central bank's efforts to reduce surplus liquidity, it says after monetary policy announcement

RBI Policy: With unanimous vote, MPC keeps repo rate unchanged at 6.5%

RBI policy meet: Shaktikanta Das also announced a revised retail inflation projection for FY24 at 5.4 per cent from 5.1 per cent earlier

RBI MPC: Repo rate decision by Governor Das today; here's what to expect

RBI policy meet: The meeting started on Tuesday and will end with RBI governor Shaktikanta Das announcing the rates in the policy announcement on Thursday

Finance ministry cautions people against 'matrimonial dating scam'

The Ministry of Finance said that customs will never call or send a text message asking people to pay customs duty through a personal bank account

RBI may tighten cash conditions, but it's unlikely to hike CRR: Traders

The banking system liquidity surplus has averaged around Rs 2.5 trillion ($30.19 billion) in August, up from Rs 1.6 trillion in July