Page 283 - Finance News

S&P upgrades rating for Bajaj Finance, UBI, Shriram Finance & Hero Fincorp

The rating upgrade reflects the view that they will continue to improve their asset quality, benefiting from good economic prospects and structural improvements in operating conditions

Axis Bank to grow up to 6% faster than industry in medium to long term: CEO

Axis Bank said it will continue to grow 4-6% faster than the industry in the medium to long term, helped by focus on rural and semi-urban markets

RBI finalises norms for banks to hold capital for operational risks

Apex bank will communicate date of implementation separately

RBI slaps penalties on Standard Chartered Bank-India, other entities

The Reserve Bank of India said it has imposed penalties on Standard Chartered Bank-India, TransUnion CIBIL, Equifax Credit Information Services, and other entities for contravention of various norms

'RBI need not rush to ease rates unless certain of stable-low inflation'

Bhide's comments echo that of Governor Shaktikanta Das that a pivot can be considered when price-gains settle near the mid-point of its 2%-6% range on a durable basis

Govt to launch portal for unclaimed shares, dividends by February 2024

Currently, investors have to produce about 24 documents for refunds. As a part of the refund process, these documents are checked multiple times at various stages of the process

RBI's pivot to rate cuts to begin only in early 2024: Rating agency S&P

In India, under the assumption of normal monsoons, the rating agency expected the headline consumer inflation to soften to 5.0 per cent in fiscal 2024 (FY24) from 6.7 per cent in FY23

Rupee trades almost flat at 81.95 against US dollar in early trade

The currency moved in a narrow range before trading at 81.95 against the greenback, appreciating just 1 paisa compared to the closing level of 81.96 on Friday

Credit card dues up 30% in Apr; cross Rs 2 trillion mark for the first time

The Reserve Bank of India (RBI) has expressed its concern about the growing unsecured bank credit

Behind Credila's success on education loan turf

Education finance is a complex and dynamic sector. There are too many variables - the course, the calibre of students, the universities, and the job prospects once the course is over

More than two-thirds of Rs 2,000 notes returned within one month: Das

In a surprise move, but as part of the clean note policy, the Reserve Bank had on May 19 ordered the recall of the Rs 2,000 banknotes worth around R 3.62 trillion

SBI to revamp Wealth Management biz, rope in consultant to firm up roadmap

Plans to grow by three-fold from current Rs 2.95 trillion

India's forex reserves rise to $596.10 billion in week to June 16

The rupee had risen 0.6% in the week ending June 16, logging its best week in over three months. It traded in a range of 81.8575 to 82.4750 during that week

RBI imposes fine on Jammu and Kashmir Bank, Bank of Maharashtra, Axis Bank

In another statement, the RBI said a penalty of Rs 30 lakh has been imposed on Axis Bank

Inflation is slowing down personal consumption expenditure: RBI paper

The Reserve Bank, however, said the views expressed in the bulletin articles are of the authors and do not represent the views of the Reserve Bank of India

Moody's affirms Yes Bank's ratings, financial performance to remain stable

Yes Bank's capital improved post a capital raise from private investors in 2022, Moody's said

Rate hikes depend on India's inflation, not Fed, say external MPC members

Domestic markets have been concerned about India being pressured to follow the US Federal Reserve in raising rates to ensure that a too-narrow rate differential does not restrict dollar inflows

India and UK regulators close to resolving clearing house impasse

The legal framework of India, as implemented by the RBI, provides for an effective equivalent system for the recognition of central counterparties authorised under other regimes of other countries

Manipur violence: What are RBI's riot relief measures invoked by the state?

The rules under these measures specify several norms that must be followed for restructuring the loans, providing fresh loans and other measures, including KYC norms

Swap rates increase amid global central banks' hawkish sentiment

While Turkiye raises interest rate 650 bps to 15%, Bank of England raises it by 50 bps to 5%