Page 286 - Finance News

RBI asks banking supervisors to get abridged with latest tech tools

The Reserve Bank has called upon banking supervisors to get abridged with the latest technological tools so that their capabilities are enhanced enough

NabFID seeks to raise about $1 billion from multilateral institutions

Raises Rs 10k cr in maiden debenture offering; oversubscribed 2.4 times

Credit cards in force touch new high in April even as rollovers decline

Increasing reach, rewards boost credit card spends

Binance launches AMP Summer Internship to develop talent in blockchain tech

Binance will provide the interns the opportunity to interact with company executives and managers along with other professionals in the industry

EXIM Bank plans to step up funding to Indian firms eyeing African markets

Amid rising competition from China, Indian Prime Minister Narendra Modi has stepped up efforts to strengthen ties with African nations via aid for infrastructure projects

Unlikely that the RBI will precede the US Fed in pivoting to a rate cut

RBI Guv Das needs to keep financing conditions easier to aid growth, while also maintaining adequate rate differential to attract foreign portfolio flows

CAG to explore new audit areas as it adopts end-to-end digital framework

The CAG audit reports are placed before Parliament and state legislative assemblies. The apex auditor would be exploring new audit areas, like shipping and extraction industries underwater, Murmu said

Biggest fund manager in India expects rupee to end its five-year slide

The currency will probably strengthen to 80 per dollar by the end of the year, according to Namrata Mittal, chief economist at SBI Mutual Fund

Banks seek RBI's clarification on fresh funding to wilful defaulters

Banks typically calculate the net present value (NPV) of the security and compare it with the settlement amount, which is mostly in cash

US PE firm Bain Capital plans to sell $267 mn stake in Axis Bank: Report

The stake sale would likely be at an offer price range of 964.00 rupees to 977.70 rupees per share, the report added

Developed world slowdown to apply brakes on India's remittance inflows

Growth in remittance flows into India to decelerate to 0.2% in 2023, from 24% in 2022: World Bank

Corporate dollar inflows boost rupee to a one-month high; gains 27 paisa

The Reserve Bank of India (RBI) has been active in the foreign exchange market in recent times and mopped up dollars to boost its foreign exchange reserves

With fewer than 15 days to deadline, check how to apply for higher pension

Those willing to apply for a higher pension under EPS can do so until June 26, 2023

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

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

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

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.

Funding in Indian fintech down 40% in 2022, says IIFL Fintech report

The country has over 9,500 fintech companies operating in the country

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

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