Page 274 - Finance News
HDFC Bank offers interoperability of UPI and CBDC QR code payments
The lender has registered over 1 lakh customers and 1.7 lakh merchants under CBDC pilot programme
 "HDFC Bank offers interoperability of UPI and CBDC QR code payments")
PNB scam: Bank seeks restoration of Nirav Modi's property worth Rs 71 cr
The Punjab National Bank (PNB) on Wednesday moved an application before a special court here seeking restoration of the Rs 71 crore worth property owned by fugitive diamond merchant Nirav Modi
 "PNB scam: Bank seeks restoration of Nirav Modi's property worth Rs 71 cr")
RCap Administrator submits name of IIHL as successful bidder for NCLT's nod
Debt-ridden Reliance Capital on Wednesday said the RBI-appointed administrator has submitted the name of IndusInd International Holdings Limited (IIHL) as a successful bidder
 "RCap Administrator submits name of IIHL as successful bidder for NCLT's nod")
Reserve Bank of India looking at banks' retail loan book more granularly
Sharp rise in unsecured loans in one year
 "Reserve Bank of India looking at banks' retail loan book more granularly")
Life insurers' Q1 new business premium collections decline 0.9%: Report
Life insurers collectively witnessed a 0.9 per cent decline in the first quarter new business premium collections to Rs 73,004.9 crore, mainly due to a massive drop in group premium mop-up
 "Life insurers' Q1 new business premium collections decline 0.9%: Report")
Bank of India opens GIFT City branch, aims $1 bn biz by March 2024
State-owned Bank of India on Wednesday opened its branch in the GIFT City Special Economic Zone in Gandhinagar and expects to achieve a $1-billion business
 "Bank of India opens GIFT City branch, aims $1 bn biz by March 2024")
NBFC Dvara KGFS secures $10 mn in debt funds for capital adequacy, growth
Non-banking finance company Dvara KGFS on Wednesday said it has raised $10 million in debt funds
Shah asks NABARD to fix financing targets for rural sector for next 25 yrs
Cooperation Minister Amit Shah on Wednesday asked NABARD to fix targets for financing agriculture sector and rural development for the next 25 years when India will complete 100 years of Independence.
 "Shah asks NABARD to fix financing targets for rural sector for next 25 yrs")
Risk management: Not the time to drop guard for Indian banking sector
In the aftermath of the global financial crisis of 2008, regulators across the world focussed on 'conduct' risks
 "Risk management: Not the time to drop guard for Indian banking sector")
Aye Finance allocates Rs 100 cr for credit to women micro enterprises
Fintech lender Aye Finance on Wednesday said it has allocated Rs 100 crore for Shakti Loan in current financial year and targets to extend credit to 10,000 women engaged in micro enterprises
 "Aye Finance allocates Rs 100 cr for credit to women micro enterprises")
Startups on Shark Tank India see over Rs 1 billion in investment deals
Most startups that appeared on the show during season 1 secured deals 6X greater in value from outside investors within a span of 1.5 years.
 "Startups on Shark Tank India see over Rs 1 billion in investment deals")
RBI looking at additional loans for home buyers of stuck projects
A meeting of a committee was held on June 19 to discuss issues related to "legacy stalled projects" in real estate
 "RBI looking at additional loans for home buyers of stuck projects")
Rupee appreciates 16 paise to 82.25 against US dollar as it weakens
However, a surge in crude oil prices capped sharp gains for the local unit, forex traders said
 "Rupee appreciates 16 paise to 82.25 against US dollar as it weakens")
Income tax return: What is NIL ITR? Who is eligible, what are the benefits
A Nil ITR refers to an income tax return where there is no tax liability on the taxpayer.
 "Income tax return: What is NIL ITR? Who is eligible, what are the benefits")
Rupee's plunging volatility leaves foreign investors guessing RBI's moves
The RBI has added back $32 billion in reserves already this year as it absorbed foreign inflows to keep the currency steady, while its dollar forward book also climbed by around $10 billion
 "Rupee's plunging volatility leaves foreign investors guessing RBI's moves")
RBI eyes 1 mn digital currency transactions daily by year-end: DG
The RBI has devised the e-rupee as a digital alternative to physical cash - using blockchain distributed-ledger technology
 "RBI eyes 1 mn digital currency transactions daily by year-end: DG")
RBI cancels licence of 2 co-operative banks due to inadequate capital
The RBI on Tuesday cancelled the licence of two cooperative banks -- Sri Sharada Mahila Co-operative Bank, Tumkur, Karnataka and Harihareshwar Sahakari Bank, Wai, Satara
 "RBI cancels licence of 2 co-operative banks due to inadequate capital")
RBI governor asks banks to remain extra careful, focus on governance
The governor held meetings with the MD and CEOs of public sector banks and select private sector banks
 "RBI governor asks banks to remain extra careful, focus on governance")
BoA to pay over $100 mn for doubling fees, opening accounts without consent
Bank of America must pay more than $100 mn to customers for double-dipping on some fees, withholding reward bonuses and opening accounts without customer consent
 "BoA to pay over $100 mn for doubling fees, opening accounts without consent")
Parliamentary committee to hear RBI, IT ministry on cyber related crimes
A parliamentary committee examining the issue of cyber security and rising incidents of cyber crimes has summoned officials of the Reserve Bank of India (RBI)