Page 302 - Finance News
UPI continues to dominate digital payments thanks to wide use of QR codes
According to a Worldline India report on India's digital payments, in 2022, UPI processed over 74 billion transactions, an increase of 70 per cent YoY
 "UPI continues to dominate digital payments thanks to wide use of QR codes")
Global public goods should be financed from add'l resource allocation: FM
Her call not to divert resources from World Bank's two priorities of eliminating poverty and promoting shared prosperity find acceptance by expert group
 "Global public goods should be financed from add'l resource allocation: FM")
RBI's norms on outsourcing IT services will improve corporate governance
Reserve Bank's regulation on outsourcing of IT services by banking sector entities is aimed at improving corporate governance and will protect the interest of consumers, say industry experts
 "RBI's norms on outsourcing IT services will improve corporate governance")
Crypto issue requires immediate attention, says FM Nirmala Sitharaman
Issues related to crypto have emerged as a major point of discussion among G20 countries and there is unanimity among member nations about the urgency to regulate this sector
 "Crypto issue requires immediate attention, says FM Nirmala Sitharaman")
India, Japan, France's common platform to aid Sri Lankan debt restructuring
India, Japan and France have announced a common platform for talks among creditors to address the debt restructuring programme of Sri Lanka which is grappling with its worst economic crisis
Indian banks insulated from US, Swiss crises: RBI governor Shaktikanta Das
Greater acceptance among G20 about crypto regulations, says FM
 "Indian banks insulated from US, Swiss crises: RBI governor Shaktikanta Das")
India's forex reserves up $6.3 bn to $585 bn, highest in nine months
The surge was mainly on account of a $4.74 billion accretion to currency reserves that took them to $514.4 billion, shows RBI data
 "India's forex reserves up $6.3 bn to $585 bn, highest in nine months")
Credit card spends touch all-time high of Rs 1.37 trillion in March
For FY23, spending topped Rs 14 trillion, up 47.27% from Rs 9.71 trillion in FY22
 "Credit card spends touch all-time high of Rs 1.37 trillion in March")
FinMin plans Rs 3K cr extra capital infusion in PSU general insurance firms
Public sector general insurance companies are undergoing various reforms, including organisational restructuring, product rationalisation, cost rationalisation and digitalisation
 "FinMin plans Rs 3K cr extra capital infusion in PSU general insurance firms")
Budget houses go out of budget; high interest rates and EMIs pinch buyers
Share of affordable housing in sales may fall for FY23, FY24
 "Budget houses go out of budget; high interest rates and EMIs pinch buyers")
Fund pick: SBI Corporate Bond Fund
Fund pick of SBI Corporate Bond Fund
 "Fund pick: SBI Corporate Bond Fund")
AU Small Finance Bank shares up 17% on CEO Sanjay Agarwal reappointment
Analysts expect the company to clock robust loan growth
 "AU Small Finance Bank shares up 17% on CEO Sanjay Agarwal reappointment")
Finance Secretary Vivek Joshi holds review meeting with heads of PSU banks
Joshi exhorted the PSBs to achieve the targets allocated to them under the various schemes for financial inclusion in a time-bound manner, the finance ministry said in a statement
 "Finance Secretary Vivek Joshi holds review meeting with heads of PSU banks")
Softer US dollar, better risk appetite push rupee to two-month high
The Indian unit has been gaining against the greenback and has appreciated 1.08 per cent in 2023
 "Softer US dollar, better risk appetite push rupee to two-month high")
NBFCs to face funding woes, may hit growth, says India Ratings
Banks and capital markets together account for most of the funding sources for NBFCs (April-December 2022 9MFY23: 73 per cent)
 "NBFCs to face funding woes, may hit growth, says India Ratings")
Andromeda expects 15% growth in loan disbursals to Rs 70,000 cr in FY24
Andromeda has been witnessing a large number of queries from prospective home buyers, which is a positive sign for the company's future growth, Andromeda CEO Raoul Kapoor said
 "Andromeda expects 15% growth in loan disbursals to Rs 70,000 cr in FY24")
NHB may issue 3-year bonds in April, Reliance plans 2-month CP, and others
In March, NHB raised Rs 1,900 crore through bonds maturing in three years and 10 days at a coupon of 7.77%, and this issue had a put and call option at the end of one year
 "NHB may issue 3-year bonds in April, Reliance plans 2-month CP, and others")
Rupee trade arrangement to help reduce transactions cost, says Piyush Goyal
Goyal said that today several countries are realising that in trade, there is a need for change in currency for that and it involves a conversion cost, which in turn increases transactions cost also
 "Rupee trade arrangement to help reduce transactions cost, says Piyush Goyal")
Reserve Bank begins evaluating five potential bidders for IDBI Bank
Kotak Mahindra Bank, Prem Watsa-backed CSB Bank and Emirates NBD are among those that have submitted expressions of interest, two of the people said, speaking on condition of anonymity
 "Reserve Bank begins evaluating five potential bidders for IDBI Bank")
MCC Bank records pre-tax profit of Rs 12.20 cr in FY23, cuts NPA level
The Mangalore Catholic Cooperative (MCC) Bank, one of the pioneers of cooperative banks in Karnataka, has recorded a pre-tax profit of Rs 12.20 crore in the 2022-23 financial year
 "MCC Bank records pre-tax profit of Rs 12.20 cr in FY23, cuts NPA level")