Page 283 - Finance News
Cong slams govt over RBI policy change to settle loans of wilful defaulters
Congress on Wednesday slammed the Centre after RBI brought in a policy that allows banks to settle loans of accounts classified as "wilful defaulters" by entering into compromise settlements
 "Cong slams govt over RBI policy change to settle loans of wilful defaulters")
Goldman Sachs' biggest office beyond New York attests to India's rise
India has roughly 1,600 of the centers, more than 40% of the number worldwide, according to Nasscom
 "Goldman Sachs' biggest office beyond New York attests to India's rise")
CBI files FIR against Gujarat firm for Rs 1,518L fraud against PNB
CBI has filed an FIR against Gujarat-based Eternal Motors Pvt Ltd, its promoter and others for allegedly cheating the Punjab National Bank for an amount of Rs 1,518 lakh, an official said
 "CBI files FIR against Gujarat firm for Rs 1,518L fraud against PNB")
Higher deposit pricing to compress net interest margins by 10-20 bps
Banks are expected to see a 10-20 bps compression in their net interest margins (NIMs) to 3-3.1 per cent this fiscal as they price deposits higher to attract more funds, says a report.
 "Higher deposit pricing to compress net interest margins by 10-20 bps")
Funding in Indian fintech down 40% in 2022, says IIFL Fintech report
The country has over 9,500 fintech companies operating in the country
 "Funding in Indian fintech down 40% in 2022, says IIFL Fintech report")
Medical assistance may be exempted from new tax collection at source rates
An additional expenses on education might also be kept out from new rule; a detailed clarification expected to be issued this month
 "Medical assistance may be exempted from new tax collection at source rates")
Microfinance loan portfolio up 22% to Rs 3.48 trillion in FY23, shows data
Microfinance loan portfolio increased by 22 per cent to Rs 3.48 lakh crore during 2022-23, according to a report
 "Microfinance loan portfolio up 22% to Rs 3.48 trillion in FY23, shows data")
India will be among fastest growing economies in 2023: RBI Governor
RBI Governor Shaktikanta Das on Tuesday expressed confidence that India will be among fastest growing economies in the world in 2023 which would grow at the rate of 6.5 per cent in the current fiscal
 "India will be among fastest growing economies in 2023: RBI Governor")
Disinflation process is likely to be slow and protracted, says RBI Governor
Reserve Bank Governor Shaktikanta Das on Tuesday said the disinflation process in India will be slow
 "Disinflation process is likely to be slow and protracted, says RBI Governor")
IMGC to focus on strengthening partnerships with finance institutions: CEO
India Mortgage Guarantee Corporation (IMGC) would focus on strengthening partnerships with banks and financial institutions, a top official said on Tuesday
 "IMGC to focus on strengthening partnerships with finance institutions: CEO")
RBI likely to tighten norms for unsecured lending portfolios of banks
Indian banks have been expanding their unsecured lending portfolio as the pandemic-induced stress began easing
 "RBI likely to tighten norms for unsecured lending portfolios of banks")
India set for $168 bn behemoth as HDFC merger to be completed by 20 July
Announcement of the so called 'record date' - or the cut-off day set for investors - for the swapping of shares of Housing Development Finance Corp. for HDFC Bank Ltd
 "India set for $168 bn behemoth as HDFC merger to be completed by 20 July")
RBI opens sub-office at Kohima, to increase presence in north east
The Reserve Bank on Tuesday opened a sub-office at Kohima, and announced its aim to soon have an office in Itanagar to strengthen its presence in North East India
'Nabard plans to raise at least 20 bln rupees via over 3-yr bonds'
In May, Nabard raised 49.29 billion rupees via bonds maturing in three years, three months and 19 days at a 7.50% coupon
 "'Nabard plans to raise at least 20 bln rupees via over 3-yr bonds'")
RBI penalises Bihar State Co-op Bank Rs 60.20 lakh for various shortcomings
The Reserve Bank on Monday imposed a penalty of Rs 60.20 lakh on The Bihar State Co-operative Bank Limited, Patna, for a slew of shortcomings and violations
Punjab & Sind Bank plans to raise Rs 750 cr via bonds to fund growth
State-owned Punjab & Sind Bank on Monday said it plans to raise Rs 750 crore from bonds to fund business growth.
Equitas Holdings surrenders NBFC licence to RBI, registration cancelled
The Reserve Bank of India on Monday said Equitas Holdings Ltd has surrendered its NBFC licence, and accordingly its registration has been cancelled
 "Equitas Holdings surrenders NBFC licence to RBI, registration cancelled")
HDFC to raise Rs 10,000 cr via non-convertible debentures, tenure of 10 yrs
Mortgage lender HDFC on Monday said it will raise Rs 10,000 crore by issuing non-convertible debentures (NCDs) on a private placement basis to shore up its resources
 "HDFC to raise Rs 10,000 cr via non-convertible debentures, tenure of 10 yrs")
Mitigate prolonged hospitalisation with reasonably priced accident cover
Frequent travellers and those engaged in risky occupations must buy this inexpensive cover
 "Mitigate prolonged hospitalisation with reasonably priced accident cover")
FLDG norms may dampen biz volume in segments with higher 5% limit: CRISIL
However, there won't be an overall impact on reported profits as the FLDG amount received will now be reckoned as a part of income
 "FLDG norms may dampen biz volume in segments with higher 5% limit: CRISIL")