Page 297 - Finance News
After debt resolution, Essar Oil lines up Rs 1,200-crore capex
CARE has assigned "BBB+" rating to the long-term bank facilities of the company
 "After debt resolution, Essar Oil lines up Rs 1,200-crore capex")
RBI imposes Rs 44 lakh penalty on 4 co-operative banks for violation
The Reserve Bank has imposed penalties totalling Rs 44 lakh on four cooperative banks, including a Rs 16 lakh penalty on Chennai-based The Tamil Nadu State Apex Co-operative Bank
 "RBI imposes Rs 44 lakh penalty on 4 co-operative banks for violation")
India's 10-year bond yield ends at one-year low on policy pivot
Earlier this month, the Reserve Bank of India (RBI) surprised markets by holding the key lending rate steady at 6.5 per cent, going against expectations of a 25-basis point (bps) increase
 "India's 10-year bond yield ends at one-year low on policy pivot")
JM Financial Home Loans, Indostar Capital Finance to explore merger
As of December 2022, JM Home had a loan book of Rs.1,181 crore and AUM of Rs. 1,272 crore with average ticket size of Rs 12 lakh and loan to value ratio of 55%
 "JM Financial Home Loans, Indostar Capital Finance to explore merger")
LIC total premium rises 17% to Rs 2.32 trn from Rs 1.99 trn in FY23
In the individual non-single premium segment, it grew 10.49 per cent from Rs 5,501.12 crore in March 2022 to Rs 6,077.97 crore in March 2023
 "LIC total premium rises 17% to Rs 2.32 trn from Rs 1.99 trn in FY23")
IndusInd Bank promoters get in-principal approval to raise stake: CEO
The promoters have filled out a form to increase the stake and the due diligence process takes about 90-180 days as per RBI norms, said CEO Sumant Kathpalia
 "IndusInd Bank promoters get in-principal approval to raise stake: CEO")
Credit Suisse saw $69 billion of outflows before UBS takeover
The Swiss bank lost more than 200 billion francs of customer deposits over a six-month period, culminating in several frantic days in March before the government-orchestrated sale
 "Credit Suisse saw $69 billion of outflows before UBS takeover")
Citi India plans to launch sustainability-linked deposits in coming days
Money raised from these deposits will be invested by Citi to help multinational customers meet their environmental, social and governance obligations in India
 "Citi India plans to launch sustainability-linked deposits in coming days")
Asian Development Bank operations reach $20.5 bn in 2022: Report
The lender financed institutional reforms to support economic recovery, strengthened public service delivery and growth in key economic sectors
 "Asian Development Bank operations reach $20.5 bn in 2022: Report")
Credit Suisse's net asset outflows topped $68 billion in first quarter
Ailing Swiss bank Credit Suisse reported over 61 billion Swiss francs (over 68 billion) in net asset outflows in the first quarter, when Switzerland's government arranged for its takeover by rival UBS
 "Credit Suisse's net asset outflows topped $68 billion in first quarter")
Biz of moving currency booming, with new revenue streams set to open up
Millions of rural Indians now have debit cards, yet lack access to ATMs. Such drivers are expected to contribute to the growth of ATMs in the rural regions
 "Biz of moving currency booming, with new revenue streams set to open up")
In the run-up to merger: HDFC Bank gets RBI relief on PSL norms
Some analysts estimated HDFC Bank would need Rs 1 trillion for meeting the CRR/SLR norms
 "In the run-up to merger: HDFC Bank gets RBI relief on PSL norms")
India's forex reserves up $1.65 bn to $586.4 bn, shows RBI data
But the country's foreign exchange reserves were lower by $ 17.28 billion compared to a level a year ago
 "India's forex reserves up $1.65 bn to $586.4 bn, shows RBI data")
Remittances decline 23% sequentially to $2.1 billion in February
Further, in April 2022-February 2023, outward remittances under LRS stood at $24.18 billion, an all-time high
 "Remittances decline 23% sequentially to $2.1 billion in February")
Flows into NRI deposits jump 2.5x in April-February to $6.4 billion
Outstanding deposits decline in Feb 2023 over Jan 2023
 "Flows into NRI deposits jump 2.5x in April-February to $6.4 billion")
Flows into NRI bank deposits in India top $6 bn mark in April 2022-Feb 2023
Outstanding deposits decline in Feb 2023 over Jan 2023
 "Flows into NRI bank deposits in India top $6 bn mark in April 2022-Feb 2023")
India's GDP to grow at 6.2% in FY24, RBI to cut rate in Q1: Morgan Stanley
The report also said the inflation in India is likely to be below 5 per cent in the second quarter of calendar year 2024
 "India's GDP to grow at 6.2% in FY24, RBI to cut rate in Q1: Morgan Stanley")
SBI General FY23 net profit jumps 40% to Rs 184 cr, premium up by 17.6%
SBI General Insurance, the unlisted arm of State Bank, on Friday said its net income surged 40 per cent year-on-year to Rs 184 crore in FY23 on a gross written premium income of Rs 10,888 crore
 "SBI General FY23 net profit jumps 40% to Rs 184 cr, premium up by 17.6%")
A snapshot of personal loan rates offered by various banks with details
Here is how the personal loan rates offered by various banks stack up
 "A snapshot of personal loan rates offered by various banks with details")
Fintech companies in talks to decide on rules for self-regulation
The RBI proposed the creation of a self-regulatory organisation (SRO) in March during a conference hosted by the Department of Payment and Settlement Systems
 "Fintech companies in talks to decide on rules for self-regulation")