Page 301 - Finance News

HDFC Bank says it will raise $6 billion in debt over next one year

The proposed fund raise would be by issuing perpetual debt instruments, or Additional Tier-1 (AT-1) bonds, Tier-II capital bonds and long-term bonds, the bank said in an exchange filing

State Bank of India to consider raising $2 billion via offshore bonds

The board will meet on April 18 to consider the fund raising

Citi, JICA announce co-finance loan to IndusInd Bank for agriculture sector

This includes a $30 million loan by Citi and JPY 13 billion loan by JICA

Loan securitisation up by a healthy 41% to Rs 1.8 trn in FY23: Icra

NBFCs, HFCs drive loan sell-downs to raise funds for rising credit demand; HDFC-HDFC Bank merger may dampen volume in FY24

ICICI Bank to offer EMI facility for UPI transactions above Rs 10,000

Customers can pay transaction amount above Rs 10,000 in the form of instalments in three, six, or nine months

Debit card usage declines 20% YoY as UPI becomes the first preference

A variety of reasons are responsible for the decline in debit card usage. Notably, UPI is available on mobile phones and has done away with the need to always carry a card

IT service outsource norms to kick in from October this year, says RBI

"The agreements that come into force on or after October 1 shall comply with the provisions of these directions from the date of agreement itself," RBI said

Pause now, lower later: Rate cuts may start this year, say economists

RBI projection on GDP growth optimistic, say analysts

Punjab & Sind Bank open 25 new branches across India, takes total to 1,553

State-owned Punjab & Sind Bank on Monday announced the opening of 25 new branches across the country

RBI simplifies CIC application form, prunes list of documents required

But it reserves the right to call for any further documentation beyond the mandated 18

Mutual funds invest Rs 1.82 trn in FY23 on push from retail investors

Under the new rules for debt mutual funds, investments will be considered as short-term capital gain, stripping off the long-term tax benefits that investors enjoyed

Rupee appreciates 24 paise to 81.78 against US dollar in early trade

Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.11 per cent to 102.20

Share of Casa in overall deposits at 7-year low of 11.6% by FY23-end

Worse still, Casa deposits' share of incremental deposits has fallen to single digit (6.7%), for the second time in 10 years

Home loan rates over Rs 75 lakh to get dearer as risk weight rises again

Risk weight back to pre-pandemic level of 50%

Post office saving schemes compete with bank FDs after 3 rate hikes by govt

The return on post office term deposits of two years under the small savings schemes is 6.9 per cent, the same as offered by most banks on deposits of similar maturity

Fasten your seat belts: The switch to Fintech 2.0 has just begun

A shakeout among fintech firms is very likely, as the stress on governance and compliance is set to go up many notches

Banks sanction Rs 23.2 trn to about 400 mn beneficiaries under Mudra Yojana

Banks and financial institutions have sanctioned Rs 23.2 trn to over 408.2 mn beneficiaries under the Mudra Yojana since its launch in 2015

Foreign exchange reserves at $578.45 bn, snaps 2-week rise, shows RBI data

A comfortable level of foreign exchange reserves will further bolster macroeconomic stability, RBI Governor Shaktikanta Das said while announcing the bank's monetary policy decision on Thursday.

BoM strengthens ease of banking for customers; launches new products

State-owned Bank of Maharashtra (BoM) on Friday announced launch of several new products and utilities including digitised personal loans and upgraded mobile banking

Panel to review pension scheme: Difference between NPS and OPS explained

The government has announced setting up of a four-member committee to review the National Pension Scheme (NPS)