Page 284 - Finance News
Irdai grants permission to Go Digit Life Insurance to commence business
According to IRDAI, this is the fourth registration granted by IRDAI in the last one year in the Life and Non-life segment
 "Irdai grants permission to Go Digit Life Insurance to commence business")
Productivity growth critical for recovery of emerging economies: Patra
Michael Patra, in a speech delivered at the Sixth Asia KLEMS Conference on Sunday, said it is widely believed that structural slowdown has been spreading across the global economy after growth peaked
 "Productivity growth critical for recovery of emerging economies: Patra")
Rupee appreciates by 7 paise to 82.40 against US dollar in early trade
On Friday, the rupee closed at 82.47 against the US currency
 "Rupee appreciates by 7 paise to 82.40 against US dollar in early trade")
FinMin to meet Moody's on June 16, to pitch for sovereign rating upgrade
The Indian finance ministry officials will meet credit rating agency Moody's Investors Service on June 16 and pitch for a sovereign rating upgrade, two government sources told Reuters
 "FinMin to meet Moody's on June 16, to pitch for sovereign rating upgrade")
FY24 to be golden year for Punjab National Bank due to steady focus: MD
The current financial year will be a golden year for Punjab National Bank due to its multi-pronged strategy and steady focus, its managing director Atul Kumar Goel has said
 "FY24 to be golden year for Punjab National Bank due to steady focus: MD")
RBI to levy penalties on banks that lose property papers of loan seekers
Banks may have to compensate borrowers and also pay a penalty if they lose the original property documents of loan seekers
 "RBI to levy penalties on banks that lose property papers of loan seekers")
India tops world ranking in digital payments with 89.5 mn transactions
Second, on the list is Brazil which amounted to 29.2 million transactions followed by China with 17.6 million transactions
 "India tops world ranking in digital payments with 89.5 mn transactions")
TVS Credit Services raises Rs 480 crore capital from Premji Invest
The primary capital will be utilised to further strengthen TVS Credit's efforts in expanding its customer base in new markets
 "TVS Credit Services raises Rs 480 crore capital from Premji Invest")
Go Digit Life Insurance receives IRDAI's approval to start business
"This is the fourth registration granted by IRDAI in last one year in Life and Non-life segment," it added
 "Go Digit Life Insurance receives IRDAI's approval to start business")
RBI notifies 4 key measures to strengthen 1,514 urban co-operative banks
Aiming to strengthen 1,514 urban co-operative banks, Centre said the Reserve Bank has notified four key measures, including giving them two years more to meet the priority sector lending targets
 "RBI notifies 4 key measures to strengthen 1,514 urban co-operative banks")
EV financing platform Revfin raises $5 million in investment from DFC
The fintech plans to introduce new products by diversifying into two-wheelers for last-mile deliveries, four-wheelers for mid-mile cargo delivery, and ride-share taxis
 "EV financing platform Revfin raises $5 million in investment from DFC")
Navigating 20% TCS: Smart tips for your overseas holiday this summer
Reduce trip duration if necessary, use prepaid forex card to nullify currency fluctuation, buy adequate insurance
 "Navigating 20% TCS: Smart tips for your overseas holiday this summer")
India's forex reserves snap 2-week decline, jump $5.9 bn to $595 bn
India's forex kitty jumped $5.929 billion to $595.067 billion for the week ended June 2, the Reserve Bank said on Friday
 "India's forex reserves snap 2-week decline, jump $5.9 bn to $595 bn")
IIFL Finance keen to raise more funds through bond market, says CFO
As on March 31, the company's total borrowing stood at nearly 40 billion rupees ($485.07 million). Its borrowing mix currently comprises 60% from banks, 20% from the bond market
 "IIFL Finance keen to raise more funds through bond market, says CFO")
Clarification on applicability of TCS on overseas credit card spends soon
Following a notification which brought credit card spends under LRS, concerns have been raised on how personal and business expenses would be segregated by the banks
 "Clarification on applicability of TCS on overseas credit card spends soon")
SBI to raise up to Rs 50,000 crore in FY24 by issuing debt instruments
State Bank of India plans to raise up to 50,000 crore rupees ($6.06 billion) this financial year by issuing debt instruments, as lenders look to meet rising demand for credit
 "SBI to raise up to Rs 50,000 crore in FY24 by issuing debt instruments")
Going to the bank with Rs 2,000 notes? Things you should keep in mind
The I-T department is keeping a close watch on cash transactions that deposit more than Rs 10 lakh in a saving account or more than Rs 50 lakh in current accounts
 "Going to the bank with Rs 2,000 notes? Things you should keep in mind")
Targeting 1 million CBDC users by end of this month: RBI deputy guv
T Rabi Sankar added the RBI does not have a date in mind on when to go live with CBDC beyond the present pilot project
 "Targeting 1 million CBDC users by end of this month: RBI deputy guv")
RBI not planning to issue norms to regulate social media influencers
The Advertising Standards Council of India has laid down guidelines for influencers, who can influence purchasing and investing decisions
 "RBI not planning to issue norms to regulate social media influencers")
RBI to come out with guidelines regarding fraud account classification
The Reserve Bank will 'shortly' come out with revised guidelines on fraudulent account classification to take into account the recent apex court order that asked lenders to ensure natural justice