Page 295 - Finance News
India's forex reserves rise to a 10-month high of $588.78 billion
For the week to which the forex reserves data pertains, the rupee had ended 0.3% higher against the U.S. dollar and traded in a range of 81.61 to 82.10. The local unit had hit a three-month high of 81
 "India's forex reserves rise to a 10-month high of $588.78 billion")
Aurionpro Payments gets RBI approval to operate as payment aggregator
AuroPay can commence Payment Aggregator business upon receiving the final Certificate of Authorization from RBI
 "Aurionpro Payments gets RBI approval to operate as payment aggregator")
FinMin allows 22 finance cos to undertake Aadhaar-based client verification
These 22 financial companies include Godrej Finance, Amazon Pay (India) Pvt Ltd, Aditya Birla Housing Finance, Tata Motors Finance Solution, IIFL Finance and Mahindra Rural Housing Finance Ltd
 "FinMin allows 22 finance cos to undertake Aadhaar-based client verification")
Here's how banks are coping with surge in cyber attacks, phishing, fraud
An RBI report on financial stability highlighted that the overall number of online banking frauds and card frauds increased from 1,532 in H1FY22 to 2,321 in H1FY23
 "Here's how banks are coping with surge in cyber attacks, phishing, fraud")
India's financial inclusion journey can be example for other countries: UN
India is at the vanguard of the digital revolution and its financial inclusion journey can be an example for other developing countries to look at, senior UN officials and economists have said
 "India's financial inclusion journey can be example for other countries: UN")
Demand for 5 days of work at banks hits speed bumps, likely to take time
Public sector banks will have to see that their business is not affected in case private banks decide to work on Saturdays
 "Demand for 5 days of work at banks hits speed bumps, likely to take time")
Global finance dominated by few currencies, need to de-risk: RBI DG
A handful of currencies currently dominate global finance, and there is a need for de-risking by diversifying the international currency system, Reserve Bank Deputy Governor T Rabi Sankar said
 "Global finance dominated by few currencies, need to de-risk: RBI DG")
RBI updates KYC instructions on wire transfers for banks, institutions
The Reserve Bank instructed banks and other financial institutions to ensure cross-border as well as domestic wire transfers contain complete information about the originator and beneficiary
 "RBI updates KYC instructions on wire transfers for banks, institutions")
ADB to explore risk-factored approach for lending to developing nations: FM
Finance minister Nirmala Sitharaman on Thursday said India encourages ADB to explore adopting innovative, risk-factored approach for lending to the developing member countries (DMCs).
 "ADB to explore risk-factored approach for lending to developing nations: FM")
India's green financing requirement estimated at 2.5% of GDP: RBI Study
India's green financing requirement is estimated to be at least 2.5 per cent of GDP annually till 2030, a Reserve Bank report said on Wednesday
 "India's green financing requirement estimated at 2.5% of GDP: RBI Study")
Contracts to revamp New Delhi, Ahmedabad stations 'axed' over pricey bids
Union Cabinet sanctioned much lower amounts than bids received for mega redevelopment projects
 "Contracts to revamp New Delhi, Ahmedabad stations 'axed' over pricey bids")
Farm subsidies impacts food security, WTO needs to look with open mind: FM
WTO should look at issue of farm subsidies with an open mind as it impacts the food security needs of emerging economies in backdrop of Covid pandemic finance minister Nirmala Sitharaman said
 "Farm subsidies impacts food security, WTO needs to look with open mind: FM")
38 new branches, ATMs to be opened in Arunachal Pradesh: Union minister
Union Minister has said that banking industry would expand its network in Arunachal Pradesh as 38 new branches and an equal number of ATMs will be opened in the state in the next six months
 "38 new branches, ATMs to be opened in Arunachal Pradesh: Union minister")
UCO Bank Q4 net profit zooms 86% at Rs 581.24 cr on improvement in margins
Board nod for Rs 2,000 cr equity offering
 "UCO Bank Q4 net profit zooms 86% at Rs 581.24 cr on improvement in margins")
Indian banks immune from liquidity crisis in West: Govt officials
Government monitoring developments in the West closely, says one official
 "Indian banks immune from liquidity crisis in West: Govt officials")
Chase India to set up SRO in light of recent crackdown on Chinese loan apps
Amid the government crackdown on illegal loan apps, research firm Chase India in a report on Tuesday proposed setting up a self-regulatory organisation (SRO) for the digital lending industry
 "Chase India to set up SRO in light of recent crackdown on Chinese loan apps")
RBI likely buying dollars to prevent rupee appreciation, absorb inflows
Rupee was trading at 81.8275 per U.S. dollar, having reached 81.7325 earlier
 "RBI likely buying dollars to prevent rupee appreciation, absorb inflows")
39% Indian families claim to be victim of online financial fraud: Report
Around 39 per cent of families in a survey claimed to have experienced financial fraud in the last three years and only 24 per cent of them got their funds back, LocalCircles said in a report
 "39% Indian families claim to be victim of online financial fraud: Report")
HSBC's profit jumped by $1.5 billon from acquisition of SVB's UK arm
Banking giant HSBC said that its profits got a $1.5 billion boost from the purchase of collapsed Silicon Valley Bank's (SVB) British business (SVB UK)
 "HSBC's profit jumped by $1.5 billon from acquisition of SVB's UK arm")
Rupee appreciates by 10 paise to 81.72 against US dollar in early trade
Forex traders said significant foreign fund inflows and crude oil prices below $80 a barrel also supported the local unit