Page 281 - Finance News
Rupee hits near 2-month high on dollar inflows, RBI may have stepped in
The focus this week is on the slew of important US data releases. The ISM US manufacturing data is due later in the day, followed by their services print on Wednesday
 "Rupee hits near 2-month high on dollar inflows, RBI may have stepped in")
Rupee appreciates 33 paise to 81.77 against US dollar in early trade
At the interbank foreign exchange, the domestic unit opened at 82.01 against the dollar and then rose to 81.77, registering a gain of 33 paise over its previous close
Onus on taxpayers to make correct declaration about LRS remittances
TCS on LRS will also apply to remote education and medical consultancy
 "Onus on taxpayers to make correct declaration about LRS remittances")
Bank of Baroda to divest 49% in credit card arm BOB Financial Solutions
State-owned Bank of Baroda (BoB) plans to sell up to 49 per cent stake in credit card business arm BOB Financial Solutions Ltd
 "Bank of Baroda to divest 49% in credit card arm BOB Financial Solutions")
Indian Bank rolls out digital services under 'Project WAVE' initiative
Public sector lender Indian Bank has unveiled new services under its digital transformation initiative -- Project WAVE -- the bank said on Sunday
 "Indian Bank rolls out digital services under 'Project WAVE' initiative")
TMB failed to file details of Rs 3,610 cr deals due to tech glitch: sources
The bank has now submitted all the required documents, may not invite any penalty
 "TMB failed to file details of Rs 3,610 cr deals due to tech glitch: sources")
SBI launches 34 Transaction Banking hubs nationwide to drive growth
State Bank of India, on Saturday, launched 34 Transaction Banking Hubs at 21 district centres across the country with an aim to provide quick and efficient Transaction Banking solutions to customers.
 "SBI launches 34 Transaction Banking hubs nationwide to drive growth")
GST added to revenue buoyancy, helped bring down taxes for common man: FM
Before GST was introduced, India's indirect tax system was fragmented, where every state was effectively a distinct market for the industry as well as the consumer
 "GST added to revenue buoyancy, helped bring down taxes for common man: FM")
UPI falls marginally in June to Rs 14.7 trn, with 9.33 transactions
Based on data from NPCI, compared to the same month last financial year, transaction volume rose by 59% and value by 45%
 "UPI falls marginally in June to Rs 14.7 trn, with 9.33 transactions")
SC to decide if resolution professionals can be tried under Corruption Act
A SC vacation bench of Justices A S Bopanna and Prashant Kumar Mishra issued the notice to the CBI on a plea challenging the April 5 order of the high court
 "SC to decide if resolution professionals can be tried under Corruption Act")
PSBs profit tripled to Rs 1.04 trn in 9 yrs; need to continue momentum: FM
The net profit of public sector banks (PSBs) has almost tripled to Rs 1.04 lakh crore in FY23 from Rs 36,270 crore in FY2014
 "PSBs profit tripled to Rs 1.04 trn in 9 yrs; need to continue momentum: FM")
SBI's chief financial officer Charanjit Surinder Singh Attra resigns
State Bank of India (SBI) on Monday said its Chief Financial Officer Charanjit Surinder Singh Attra has put in his papers.
 "SBI's chief financial officer Charanjit Surinder Singh Attra resigns")
Share of loans bearing over 9% interest rate hits 56.1% in March: RBI
The RBI further said all population groups recorded substantially higher credit year-on-year growth in 2022-23
 "Share of loans bearing over 9% interest rate hits 56.1% in March: RBI")
MSS certificate can be operationalised at PSBs, select private banks: Govt
The Mahila Samman Savings Certificate (MSSC) scheme offers a fixed interest rate of 7.5 per cent to women
 "MSS certificate can be operationalised at PSBs, select private banks: Govt")
Paytm partners with Shriram Finance to strengthen its loan distribution biz
Now, Shriram Finance products will be available on Paytm's platform
 "Paytm partners with Shriram Finance to strengthen its loan distribution biz")
Govt approves issuance of 27th tranche of electoral bonds, sale from July 3
The decision comes ahead of assembly elections of Rajasthan, Madhya Pradesh, Chhattisgarh, Telangana and Mizoram. Poll dates are likely to be announced in a couple of months
 "Govt approves issuance of 27th tranche of electoral bonds, sale from July 3")
World Bank approves $1.5 bn financing for India's low carbon energy sector
The financing will help India promote low-carbon energy by scaling up renewable energy, developing green hydrogen and stimulating climate finance for low-carbon energy investments, the bank said
 "World Bank approves $1.5 bn financing for India's low carbon energy sector")
One in every 10 retail borrowers missing monthly payments: RBI report
According to RBI's financial stability report, the total of SMA-0, SMA-1 and SMA-2 in the retail advances in the public sector banks was 9.4% as of March 31
Homegrown bank giant bigger than Morgan Stanley to arise from India merger
The tieup of HDFC Bank & Housing Development Finance Corp creates a lender that ranks 4th in equity m-cap, behind JPMorgan Chase, Industrial and Commercial Bank of China and Bank of America Corp
 "Homegrown bank giant bigger than Morgan Stanley to arise from India merger")
Indian rupee may struggle on more Fed rate hike bets, US yields surge
Non-deliverable forwards indicate rupee will open at around 82.08 to the US dollar compared with 82.0550 in the previous session
 "Indian rupee may struggle on more Fed rate hike bets, US yields surge")