Page 270 - Finance News
Fund review: ICICI Pru Bluechip fund
Fund review: ICICI Pru Bluechip fund
 "Fund review: ICICI Pru Bluechip fund")
Rupee appreciates 10 paise to 81.91 against US dollar in early trade
Forex traders said a positive trend in domestic equities and foreign fund inflows also aided the local unit
 "Rupee appreciates 10 paise to 81.91 against US dollar in early trade")
RBI permits banks to open vostro accounts from 22 nations for rupee trade
As on July 23, 20 banks in India have been permitted to open SRVAs of partner banks from 22 countries, including Bangladesh, Belarus, Botswana, Fiji, Germany, Guyana and Israel
 "RBI permits banks to open vostro accounts from 22 nations for rupee trade")
Swiggy enters credit card space, launches co-branded product with HDFC Bank
Card will operate on Mastercard's payment network; rollout in phases on Swiggy app overnext 7-10 days
 "Swiggy enters credit card space, launches co-branded product with HDFC Bank")
Public sector banks' lending to state govt units down 20% in FY23
The moderation in lending follows the Reserve Bank of India's missive to lenders for not doing enough due diligence and monitoring the end use of funds
 "Public sector banks' lending to state govt units down 20% in FY23")
Over 750,000 HUFs claimed Rs 3,803 cr tax deductions in 2022-23: FinMin
Currently, a debate is going on about the status of the HUFs, following the implementation of the Uniform Civil Code on which the Law Commission has invited comments from the public
 "Over 750,000 HUFs claimed Rs 3,803 cr tax deductions in 2022-23: FinMin")
RuPay cards cross 10,000 milestone in Bhutan, 265,994 ATMs accept the cards
RuPay cards crossed the 10,000 mark in Bhutan. BHNL RuPay debit cards are widely accepted in more than 265,994 ATMs and 7.9 million PoS terminals to withdraw cash, balance inquiries and make payment
 "RuPay cards cross 10,000 milestone in Bhutan, 265,994 ATMs accept the cards")
Central banks need to incorporate climate-related risks: RBI dy guv
The deputy governor further said over the years, Reserve Bank has been taking various policy measures to promote and support green finance initiatives
 "Central banks need to incorporate climate-related risks: RBI dy guv")
Rupee snaps 3-day winning run on RBI intervention, importer hedging
The one-year dollar-rupee implied yield rose four bps to 1.73%, amid the RBI's possible intervention in the forwards market
 "Rupee snaps 3-day winning run on RBI intervention, importer hedging")
Govt instructed banks not to take harsh action against borrowers: FM
"I have heard complaints about how mercilessly loan repayments have been followed up by some banks," she said
 "Govt instructed banks not to take harsh action against borrowers: FM")
ED registers 490 fraud cases related to NPAs worth over Rs 20 crore
The Directorate of Enforcement has recorded 490 bank fraud cases related to NPAs of Rs 20 crore or more in the last 5 years under the provisions of the Prevention of Money Laundering Act, 2002 (PMLA)
 "ED registers 490 fraud cases related to NPAs worth over Rs 20 crore")
RBI likely bought dollars in spot via PSBs, paid in far forwards: Traders
Two public sector banks were buying dollars, likely for the RBI, while a large private sector bank was on the bid on USD/INR for its importer clients, a currency trader said
Rupee rises as Asian currencies appreciate, foreign inflows continue
The rupee opened at 81.71 per US dollar, tracking the rise in Asian currencies. The yuan fell to CNY 7.13, compared to 7.21 on Monday at the close of the Indian foreign exchange market
 "Rupee rises as Asian currencies appreciate, foreign inflows continue")
Over 40 mn ITRs filed for FY23 so far, 8 mn refund issued: CBDT chief
"This collection "surpassed" both the budget and revised estimates set by the government for revenue collections under the direct taxes category and this is a testament of the hard work of our cadre"
 "Over 40 mn ITRs filed for FY23 so far, 8 mn refund issued: CBDT chief")
No proposal to extend deadline for exchange of Rs 2,000 notes: FinMin
The RBI, in a surprise move, on May 19 announced withdrawal of Rs 2,000 notes from circulation but gave public time till September 30 to either deposit such notes in accounts or exchange them at banks
 "No proposal to extend deadline for exchange of Rs 2,000 notes: FinMin")
Nil return: A must-do even for those with income below threshold level
Banks, passport and visa authorities ask for your ITR, and it's a prerequisite for tax refund
 "Nil return: A must-do even for those with income below threshold level")
74 mn ITRs filed in FY'23, over 51.6 mn declared zero tax liability: FM
As per the return filing data shared by Sitharaman, the number of persons who filed income tax returns during the last four years has shown an increase
 "74 mn ITRs filed in FY'23, over 51.6 mn declared zero tax liability: FM")
IDBI Bank Q1 results: Net profit jumps by 62% YoY, GNPA ratio down to 5%
The operating profit for Q1FY24 surged 47% to Rs 3,019 crore, as against Rs 2,051 crore in the corresponding period last year
 "IDBI Bank Q1 results: Net profit jumps by 62% YoY, GNPA ratio down to 5%")
J&K Bank Q1 results: Net profit jumps 96%, gross NPA ratio down to 5.77%
Gross NPAs for Q1FY24 stood at Rs 5103.68 crore, as compared to Rs 6982.02 crore in the corresponding period of the previous year
Private sector lender HDFC Bank expects 17-18% credit growth this year
HDFC Bank expects 17-18 per cent loan growth during the current financial year as there is enough credit demand
 "Private sector lender HDFC Bank expects 17-18% credit growth this year")