Page 309 - Finance News
UPI processes 8.7 bln transactions in March, highest ever since inception
UPI transactions in March 2023 were over 60 per cent and 46 per cent higher in volume and value terms from the year-ago period, according to NPCI
 "UPI processes 8.7 bln transactions in March, highest ever since inception")
Fundraising via REITs hits all-time low in FY23 on higher yields on debt
According to data compiled by Prime Database.com, a total of Rs 1,166 crore was mobilised by real estate investment trusts (REITs) and infrastructure investment trusts (InvITs) together in 2022-23
 "Fundraising via REITs hits all-time low in FY23 on higher yields on debt")
Benchmark G-sec yields close lower at FY23 end vis-a-vis Dec 2022
Shields banks from adverse impact from bond portfolio
 "Benchmark G-sec yields close lower at FY23 end vis-a-vis Dec 2022")
Govt hikes interest rates on most small savings schemes by up to 70 bps
Rate on National Savings Certificate steeply raised by 70 bps, PPF kept unchanged
 "Govt hikes interest rates on most small savings schemes by up to 70 bps")
Finance ministry to launch three-month campaign to boost micro-insurance
The department has advised chief secretaries of States/ UTs and chairman and CEOs of Public Sector Banks (PSBs) to extend full support during the campaign
 "Finance ministry to launch three-month campaign to boost micro-insurance")
Bank of Maharashtra opens first dedicated branch for startups in Pune
State-owned Bank of Maharashtra (BoM) on Friday said it has opened its first dedicated branch for startups in Pune
 "Bank of Maharashtra opens first dedicated branch for startups in Pune")
At $578.78 bn, India's forex reserves rise to over eight-month high
That is an increase of $5.98 billion from the previous week
 "At $578.78 bn, India's forex reserves rise to over eight-month high")
ICICI to double wealth bankers, boost assets to $60 billion in 2 yrs
ICICI Securities Ltd. aims to double its wealth managers and boost the assets from rich clients to $60 billion in the next two years, as competition ramps up in India's rapidly growing wealth industry
 "ICICI to double wealth bankers, boost assets to $60 billion in 2 yrs")
Rupee appreciates by 24 paise to 82.10 against US dollar on FII flows
At the interbank foreign exchange market, the rupee opened higher at 82.12 and stayed in the green in early trade. It moved in a range of 82.16 to 82.10 in early deals
 "Rupee appreciates by 24 paise to 82.10 against US dollar on FII flows")
Loans disbursed digitally rose 12-fold between 2017-20: RBI panel report
Also as per the findings of the report, there were approximately 1,100 lending apps in the country, between January 1, 2021 and February 28, 2021
 "Loans disbursed digitally rose 12-fold between 2017-20: RBI panel report")
NPCI interchange fee rule: Will your UPI-wallet payments not be free now?
The NPCI's decision to levy 1.1 per cent fees on the UPI-wallet payments has led to a lot of speculation on social media, people are worried this will make the transactions costlier. But is it true?
 "NPCI interchange fee rule: Will your UPI-wallet payments not be free now?")
Euro, dollar steady as bank fears subside, investors focus on inflation
The dollar had been under pressure from the possibility that the Federal Reserve may have to relent in its fight against inflation and pause rate hikes
 "Euro, dollar steady as bank fears subside, investors focus on inflation")
Punjab National Bank board nod to raise Rs 12,000 cr in capital in FY24
It would raise capital by issuing AT-1 bonds upto Rs 7,000 crore and tier- II Bonds up to Rs 5,000 crore, in one or more tranches
 "Punjab National Bank board nod to raise Rs 12,000 cr in capital in FY24")
UBS brings back Sergio Ermotti as CEO with Credit Suisse deal ahead
UBS said Wednesday that it's bringing back former CEO Sergio Ermotti to lead the Swiss bank as it moves forward with a government-orchestrated plan to take over struggling rival Credit Suisse
 "UBS brings back Sergio Ermotti as CEO with Credit Suisse deal ahead")
Account-to-account transfers on UPI fully free for customers, vendors: NPCI
Paytm set to gain from interchange fee for merchant payment via wallets on UPI platform
 "Account-to-account transfers on UPI fully free for customers, vendors: NPCI")
Govt eyes IDBI financial bids by June, stake sale completion in FY24 itself
Govt has made several provisions and brought regulatory clarity to make deal attractive for bidders. These include allowing a consortium of foreign entities to own over 51% in the Bank
 "Govt eyes IDBI financial bids by June, stake sale completion in FY24 itself")
Punjab National Bank to raise $1.5 bn through bonds in one or two tranches
Indian state-run lender Punjab National Bank said on Wednesday it would raise up to 120 billion rupees ($1.46 billion) in one or two tranches, through the issue of bonds
 "Punjab National Bank to raise $1.5 bn through bonds in one or two tranches")
UPI charges: Here is how interchange fees on wallet payments will work
From April 1, the platforms offering prepaid instruments like wallets and gift cards will have to pay interchange fees on transactions above Rs 2,000
No charge on normal UPI payment; interchange fee for PPI transactions: NPCI
National Payments Corporation of India (NPCI) on Wednesday said there is no charge for the bank account to bank account-based UPI payments or normal UPI payments
Merchant payment via wallets on UPI to attract 1.1% interchange from Apr 1
As NPCI seeks to integrate digital wallets on the UPI platform is expected to be positive for Paytm, which has a 60 per cent share in wallets
 "Merchant payment via wallets on UPI to attract 1.1% interchange from Apr 1")