Page 281 - Finance News
HDFC sells education loan arm HDFC Credila to PE firms for Rs 9,060 crore
The sale of HDFC Credila, the education loan arm of the Housing Development and Finance Corporation (HDFC), comes ahead of the completion of HDFC's merger with HDFC Bank
 "HDFC sells education loan arm HDFC Credila to PE firms for Rs 9,060 crore")
Compromise settlement provides ways to lenders to recover lost money: RBI
The Reserve Bank of India (RBI) said on Tuesday that a "compromise settlement" with borrowers aims to enable multiple avenues to lenders to recover the money in default without much delay.
 "Compromise settlement provides ways to lenders to recover lost money: RBI")
TCS levy: Credit card users may have to declare forex transactions to banks
The I-T department is in talks with the RBI and other stakeholders to firm up a mechanism for distinguishing whether the expense is towards medical/education which attract a 5 per cent TCS
 "TCS levy: Credit card users may have to declare forex transactions to banks")
India Inc feels time ripe for next phase of GST reform: Deloitte Survey
A Deloitte survey revealed that Indian industries believe it's time to uncover the next phase of GST reforms to enhance the ease of doing business.
 "India Inc feels time ripe for next phase of GST reform: Deloitte Survey")
Tweaking banks' key regulatory need may ease interbank cash mkt volatility
By Dharamraj Dhutia and Swati Bhat
 "Tweaking banks' key regulatory need may ease interbank cash mkt volatility")
FM seeks spotting of credit-deficient districts for financial inclusion
Finance Minister Nirmala Sitharaman on Monday suggested identification of credit-deficient districts in each state and carrying out special credit outreach camps there
 "FM seeks spotting of credit-deficient districts for financial inclusion")
Barings PE, ChrysCapital acquire 90% stake in HDFC Credila for Rs 9,060 cr
In April 2023, Reserve Bank of India had advised HDFC to bring down its stake in HDFC Credila to 10%
 "Barings PE, ChrysCapital acquire 90% stake in HDFC Credila for Rs 9,060 cr")
Want to hedge against risky bets? Invest in the current SGB tranche
But keep a 5-year horizon; choose gold ETFs if you wish to exit sooner
 "Want to hedge against risky bets? Invest in the current SGB tranche")
Rupee dips tracking Asia FX, eyes US Fed chief testimony this week
By Sethuraman N R
 "Rupee dips tracking Asia FX, eyes US Fed chief testimony this week")
Karur Vysya Bank in expansion mode; sets up 800th branch in Chennai
Private sector Karur Vysya Bank on Monday under its expansion drive inaugurated its 800th branch in the city, a top official said
 "Karur Vysya Bank in expansion mode; sets up 800th branch in Chennai")
Corporate sector begins to contribute to growth of GFCF: ICICI Securities
The corporate sector has begun contributing to the growth of gross fixed capital formation (GFCF) in FY23, said ICICI Securities Ltd in a report
Cash transactions dramatically spike at petrol pumps, online orders: Report
One of major benefits of Centre's decision to withdraw the Rs 2,000 currency note might be the immediate uptick in consumption demand, according to State Bank of Indias Economic Research Department
 "Cash transactions dramatically spike at petrol pumps, online orders: Report")
Reserve Bank of India may need to pump in funds on liquidity crunch
GST payments and quarter-end credit demand may lead to such a situation
 "Reserve Bank of India may need to pump in funds on liquidity crunch")
New TCS norms on credit card spends: More than a matter of exchange
Money changers are miffed at the tax exemption for credit card forex spends of up to Rs 7 lakh a year under the liberalised remittance scheme
 "New TCS norms on credit card spends: More than a matter of exchange")
Everything you want to know about IDBI Bank
Consultation with the RBI is on to check how many technical bidders are 'fit and proper'. In the next stage, financial bids will be called and IDBI Bank will open up the virtual data room for bidders
 "Everything you want to know about IDBI Bank")
Enforcement sees paradigm shift by RBI
Regulated entities should realise that the central bank's enforcement actions carry reputation risks, erode investor confidence, and impact the chief executive's tenure
 "Enforcement sees paradigm shift by RBI")
RBL aims to expand NIMs; credit cards, MFIs to outpace loan book growth
RBL Bank is targeting to expand its net interest margin (NIM) to over 5.2 per cent by the end of FY24 by upping the share of higher-yielding assets in its loan book, a top official has said.
 "RBL aims to expand NIMs; credit cards, MFIs to outpace loan book growth")
Reports of missing Rs 500 notes based on erroneous information, says RBI
"The RBI emphasizes that these reports are not correct," the regulator said in a press release
 "Reports of missing Rs 500 notes based on erroneous information, says RBI")
Tamil Nadu woos fintech firms; hopes to raise Rs 12,000 cr for Fintech City
State allots 56 acres for project, aims to create 80,000 jobs
 "Tamil Nadu woos fintech firms; hopes to raise Rs 12,000 cr for Fintech City")
GST Council may vet CBIC's plan for additional validations in return filing
The GST Council in its meeting next month is likely to consider CBIC's proposal to introduce additional validations in the GST return filing system to check evasion and fake input tax credit claims
 "GST Council may vet CBIC's plan for additional validations in return filing")