Page 288 - Finance News
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
Fund pick: Aditya BSL Medium Term Plan
Fund pick of Aditya BSL Medium Term Plan
 "Fund pick: Aditya BSL Medium Term Plan")
IIFL to raise Rs 1,500 cr in bonds to fuel growth, caps coupon rate at 9%
Leading non-bank lender IIFL Finance is raising up to Rs 1,500 crore through a public issue of secured redeemable NCDs to fuel credit growth and debt management, a senior company official said
 "IIFL to raise Rs 1,500 cr in bonds to fuel growth, caps coupon rate at 9%")
RBI's decision to keep repo rate unchanged on expected lines: Experts
The Reserve Bank of India's decision to keep policy rates unchanged was on expected lines, banking and financial experts said on Thursday
 "RBI's decision to keep repo rate unchanged on expected lines: Experts")
Industry wants reversal of rate hike cycle as RBI pasuses for second time
The status quo adopted by the Reserve Bank in its second bi-monthly monetary policy of the current fiscal will pave way for reversal of rate hike cycle in due course, expects India Inc
 "Industry wants reversal of rate hike cycle as RBI pasuses for second time")
We are only pausing on rates, too early to call on inflation fight: Das
After unanimously pausing for the second time in a row, the Reserve Bank on Thursday reiterated that leaving the key rates and the stance unchanged is not a pivot but only a pause
 "We are only pausing on rates, too early to call on inflation fight: Das")