Page 294 - Finance News

Financials see highest FPI flows despite turmoil in US banking sector

Strong flows into domestic banks even as their developed world counterparts reeled under pressure was underpinned by improved outlook

At record 795 tonnes, RBI's gold reserves see sharp on-year spike

Share of foreign currency assets in overseas securities rises to 81% by March

FSDC discusses need for more early warning indicators for economy

'Ensuring financial stability is shared responsibility'

Bain Capital seeks to raise $4 bn for new global special situations fund

Bain Capital kicked off the fundraising at the start of the year and has already raised about $2 billion for the new fund, said the sources, who requested anonymity

Banking system sheltered from wider sector turmoil seen globally: FSDC

FSDC considers the country's banking system to be protected from any spillover from issues in the sector globally, country's economic affairs secretary said

Reserve Bank of India imposes penalty worth Rs 1.75 crore on HSBC

Earlier in April, the central bank had imposed penalties totalling Rs 44 lakh on four cooperative banks

Beware! Cheque bounce can lead to hefty penalty and imprisonment

Keep sufficient funds in account, fill cheque details accurately and legibly, and ensure your signature hasn't changed

FSDC pitches for a special drive to settle unclaimed deposits in banks

The council discussed a number of issues starting with the issue of financial stability, noting that there are daunting challenges coming from the global economy

Canara Bank Q4 profit up 90.6% at Rs 3,175 cr, robust NII boosts growth

State-owned lender's board recommends dividend of Rs 12 per share for FY23

Rupee appreciates by 8 paise to 81.70 against US dollar in early trade

At the interbank foreign exchange, the domestic unit opened strong at 81.76 against the dollar and then rose to 81.70, registering a rise of 8 paise over its previous close

Finance ministry's May economic report may be FY23 Eco Survey update

It could be the first time that CEA would use MER to give a detailed analysis of last FY

The rise of micro-ATMs in semi-urban and rural areas: How do they work?

These easy to deploy, cost-effective devices that are akin to a point-of-sale terminal have mushroomed in India's semi-urban and rural areas

In search of binding ties: Lack of SRO will continue to haunt shadow banks

Legacy shadow banks continue to do business without a self-regulatory body. This is far from ideal

Microfinance and the success of Mudra

Microfinance institutions have provided credit to people at the bottom of the pyramid, with no collateral

Muthoot Microfin to foray into Andhra Pradesh, Telangana in FY24

It is also expecting the disbursement too to touch Rs 11,000 crore during the year. In 2022-23, the company saw its disbursements increasing to Rs 8,104 crore, up from Rs 4,600 crore last year

FM Sitharaman to review state of economy at FSDC meeting on Monday

Finance minister Nirmala Sitharaman will review the state of the economy amid global and domestic challenges at a meeting of the Financial Stability and Development Council (FSDC) on Monday.

More SVB-like crises to come, says Aswath Damodaran on US banking sector

Economic expert Aswath Damodaran in his latest blog has said that the US can witness more dominos falling like the SVB

RBI sounds note of caution on OPS, says it may add to liabilities in future

By postponing the current expenses to the future, the report said states risk the accumulation of unfunded pension liabilities in the coming years

Manappuram Finance faces reputational risk amid probe, says S&P

May impact investor confidence, Stock tanks 11.45% on BSE

Forex reserves at a 10-month high of $589 billion, shows RBI data

In April, the overall reserves rose by $10.31 billion, RBI data showed