Page 271 - Finance News
FM urges RRBs to focus on improving credit-deposit ratio by lending in NE
Finance Minister Nirmala Sitharaman on Friday reviewed the performance of Regional Rural Banks of the northeast region and asked them to improve the credit-deposit ratio by giving more loans
 "FM urges RRBs to focus on improving credit-deposit ratio by lending in NE")
Changes in insurance sector will help create value for customers: Parekh
The massive changes taking place on the regulatory front in the insurance space will help in ease of doing business, encourage development of longer-term products
 "Changes in insurance sector will help create value for customers: Parekh")
Match upgraded credit card benefits with spending pattern, beware of costs
Threshold limit for waiving annual fee should not exceed spending capacity
 "Match upgraded credit card benefits with spending pattern, beware of costs")
India's forex reserves top $600 billion, rise to near 15-month high
They rose by $12.74 billion from the week earlier - the biggest gain in four months - having risen by a total of $3.08 billion in the prior two weeks
 "India's forex reserves top $600 billion, rise to near 15-month high")
Rupee falls 12 paise to 82.05 as domestic equities weighed on sentiments
At the interbank foreign exchange, the domestic unit opened at 82.03, then touched 82.05, registering a decline of 12 paise over its last close
 "Rupee falls 12 paise to 82.05 as domestic equities weighed on sentiments")
It's time to get real about rupee's role in international financial system
New Delhi's own experiment with Russian oil should be a sobering reminder of how little sanctions have done to dethrone the US currency. Internationalizing the rupee will neither be swift, nor easy
 "It's time to get real about rupee's role in international financial system")
Financial services secy asks banks to achieve financial inclusion targets
He further urged banks to devise the strategy and step up efforts to increase the digital onboarding of street vendors and scale up their digital payments, the finance ministry said
 "Financial services secy asks banks to achieve financial inclusion targets")
Jio Financial Services: India's biggest demerger in the value terms
According to Reliance Strategic Investments annual report for FY22, it had other long-term investments worth around Rs 181 crore
 "Jio Financial Services: India's biggest demerger in the value terms")
Weak loans of banks to fall to 3-3.5% of gross advances by March 2025: S&P
S&P Global Ratings projected Indian banking sector's weak loans will decline to 3-3.5 per cent of gross advances by March 31, 2025
 "Weak loans of banks to fall to 3-3.5% of gross advances by March 2025: S&P")
Retail loans given by NBFCs to grow 18-20% in FY24, says Icra report
Digitalisation and cross-selling shaping high growth in unsecured loans, it says
 "Retail loans given by NBFCs to grow 18-20% in FY24, says Icra report")
Fund review: ICICI Pru Short Term Fund
Fund review: ICICI Pru Short Term Fund
 "Fund review: ICICI Pru Short Term Fund")
First-ever "Credit Guarantee Scheme" for livestock sector; details here
In an effort to boost the rural economy of the country, DAHD has set up credit guarantee fund trust of Rs 750 crores to give easier access to finance to eligible MSMEs and entrepreneurs
 "First-ever \"Credit Guarantee Scheme\" for livestock sector; details here")
18% GST to be charged on battery charging for EVs: Karnataka AAR
Company setting up charging stations would get input tax credit, it rules
 "18% GST to be charged on battery charging for EVs: Karnataka AAR")
India extends UPI services to France, first in Europe after Singapore
The National Payments Corporation of India (NPCI) has set up connectivity with Lyra in France
 "India extends UPI services to France, first in Europe after Singapore")
Rupee rises 6 paise to 82.02 against dollar due to steady foreign inflows
The dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.22 per cent to 100.06
 "Rupee rises 6 paise to 82.02 against dollar due to steady foreign inflows")
Blackstone on brink of $1 trn milestone in first for private equity
Private equity firms have risen to power major tracts of the US economy
 "Blackstone on brink of $1 trn milestone in first for private equity")
Federal Bank fixes floor price of Rs 132.59 per equity share for QIP
Private sector lender Federal Bank on Wednesday said the board has a fixed floor price of Rs 132.59 per equity share for its proposed Qualified Institutional Placement (QIP)
United India Co-operative Bank ceases business as RBI cancels license
The Reserve Bank of India (RBI) on Wednesday said it has cancelled the licence of Uttar Pradesh-based United India Co-operative Bank Limited, citing lack of adequate capital and earning prospects.
 "United India Co-operative Bank ceases business as RBI cancels license")
What is the average balance in a bank account in your state? Check it here
Using RBI data, we found out the average balance in a savings, current or a term deposit account across states in India. Read more to find out
 "What is the average balance in a bank account in your state? Check it here")
Consequence of failure to file deceased's ITR: Penalties, interest, jail
However, a legal heir's liability is capped at the value of the inherited estate
 "Consequence of failure to file deceased's ITR: Penalties, interest, jail")