Page 284 - Finance News

Rupee globalisation to spur easier trade with other nations: Ex-RBI dy guv

"India's share of global trade, both exports and imports, is around 7%," said Thorat. "Similarly the share in financial flows is also around the same"

Indian banks looking for a bigger stake in digital India via own QR codes

Lenders are leveraging partnerships with fintechs and technology service providers to manage their apps and QR codes

Non-banking lender SMFG India Credit eyes Rs 75,000 cr loan book by FY26

Mid-sized non-banking lender SMFG India Credit, formerly Fullerton India Credit, is looking at doubling the loan book over the next two-three years from the present Rs 36,000 crore.

IIFCL targets to raise Rs 17,000 crore from bond issuances in FY24

As the bond borrowings go up, the share of bank borrowings will go down

Treasury-bill auction sees firm demand on hopes of improving liquidity

Surplus liquidity in the system, as indicated by the amount of funds that banks park with RBI, increased to Rs 34,843.21 crore on Tuesday, from Rs 18,657.21 crore on Monday

Rupee ends higher on dollar inflows; Fed's testimony to lawmakers in focus

Foreign investors have poured about $1.8 billion into Indian equities this month, having bought shares worth $5.1 billion in May

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

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.

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

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.

Tweaking banks' key regulatory need may ease interbank cash mkt volatility

By Dharamraj Dhutia and Swati Bhat

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

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%

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

Rupee dips tracking Asia FX, eyes US Fed chief testimony this week

By Sethuraman N R

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

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

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

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