Page 273 - Finance News

FM Sitharaman discusses trade negotiation progress with Canadian Dy PM

"The two ministers also discussed the progress being made on the ongoing various trade-related negotiations between India and Canada," the Indian finance ministry tweeted

File ITR soon as govt not contemplating deadline extension: Revenue secy

With regard to the tax mobilisation target, Malhotra said, it is more or less in line with the target growth rate, which is 10.5 per cent

DICGC asks banks to display its logo, QR code on their websites by Aug 31

Deposits up to Rs 5 lakh in banks are insured by the DICGC. The scheme covers deposits in commercial banks, local area banks (LABs), payments banks (PBs), small finance banks (SFBs)

Credit card spending hits record high at Rs 1.4 trn in May: RBI data

The total spending or outstanding dues on credit cards, which remained rang-bound throughout the year in the previous fiscal, have been rising by 5 per cent month on month this year

Not averse to using Indian rupee as common currency: Lanka President

Wickremesinghe, also the cash-strapped country's finance minister, made this remark while addressing the Indian CEO Forum here this week

G-20 finance chiefs to debate war, debt distress and inflation in India

The discussions among the Group of 20 nations come as the war drags on for nearly 17 months, slowing the global economy and keeping policymakers on edge over resurgent inflation and stuttering growth

State Bank of India raises its lending rate by 5 bps across all tenures

With the revision, one-year MCLR has increased to 8.55 per cent, from the earlier 8.50 per cent

India's forex reserves rise $1.23 billion to $596.28 billion: RBI data

Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves

HDFC Bank allots over 311 cr shares to HDFC Ltd shareholders in share swap

HDFC Bank on Friday said it has allocated over 311 crore new shares of the bank to shareholders of merged entity HDFC Ltd.

RBI to give banks guidance to resolve rupee trade issues, says official

The issue with rupee trade is that it can only work as a barter currency, the official said

Indians will be able to make payments in rupees via UPI in France: PM Modi

Unified Payments Interface (UPI) is India's mobile-based payment system and allows people to make round-the-clock payments through a virtual payment address created by the customer

Credit grows by 16.22% YoY and bank deposits 12.96%, shows RBI data

Besides robust demand across segments, rise tied to quarter-end business also pushed the loan volumes in fortnight, bankers said

State Bank of India raises Rs 3,101 crore through AT1 bond at 8.1%

There is no pressure for lenders to raise capital at any price. Its capital adequacy is comfortable, and it can wait for better pricing in the coming months

In a first, credit card spend crosses Rs 1.4 trillion-mark in May: RBI data

Axis Bank, the fourth-largest, is closing the gap with ICICI Bank after the Citi acquisition with 12.46 million cards

Pair base insurance policy with super top-up to limit premium cost

Opt for insurers with lenient no-claims bonus policies to tackle need to hike sum insured periodically

Unsecured loan portfolios growth highest, credit card NPAs shoot up: Report

From a loan growth perspective, outstanding balances on credit cards grew 34 per cent in the year to March 2023, and personal loans were up 29 per cent

RBI signals greater scrutiny of fintech industry amid funding drought

Fintechs will need to devote their attention to governance, compliance, business conduct, and adopting risk mitigation practices for long-term business stability

Sachin Bansal's fintech firm Navi lays off nearly 200 employees: Report

In addition to the layoffs, several individuals within the company have resigned over the past few months, including mid-to-senior level employees and leaders

Fund review: SBI Large & Midcap Fund

Fund review: SBI Large & Midcap Fund

Barclays and Yes Bank raise India's inflation forecast as prices jump

Surging prices of vegetables and pulses pushed up inflation to a three-month high of 4.81% last month, ending four months of moderation