Page 314 - Finance News

Credit card outstanding rises 29.6% to reach record high level in Jan

RBI data showed that credit card outstanding in January 2023 stood at Rs 1,86,783 crore as against Rs 1,41,254 crore in January 2022

Share sale overhang on YES Bank as three-year lock-in nears end for lender

Passive trackers likely to sell 67 mn shares; another 1.35 bn could be offloaded by individual investors

Data of 600,000 HDFC Bank customers' leaked on dark web, bank denies

After reports surfaced that personal information of nearly 6 lakh customers of HDFC Bank was allegedly leaked on the Dark Web, the bank said on Tuesday there has been no data leak of its customers

A billion transactions a day can be processed through UPI: RBI governor

The objective of the mission, as part of Digital Payments Awareness Week (DPAW) 2023, is to make every citizen in the country opt for digital payments

CPSE dividend crosses Rs 50,000 crore for second consecutive year

During the current fiscal year (FY23) so far, Rs 50,279 crore has come as dividends from CPSEs

Number of women seeking business loans tripled in last 5 yrs: Cibil report

The number of women borrowers grew at a CAGR of 15% during this period, that of male borrowers by 11%; share of women rose from 25% in 2017 to 28% in 2022

RBI launches mission to make every citizen a user of digital payment

As many as 58% of some 90,000 respondents in an RBI survey said they were not using digital payments; a large chunk, in fact, was not even aware of them

Kotak Mahindra Bank to create vertical for mid-market firms

"The bank is also upping its focus on the structured finance offerings, whose contribution in the overall wholesale book is in low single-digits at present and growing the same"

BoB cuts interest rates on home and MSME loans taken till month end

Reduces home loan rates by 40 bps, available to those with credit score of 751 and above

Inspection & supervision: RBI dons new clothes

The Reserve Bank has not changed the objectives of supervision but how it supervises the system. And, the change is dramatic

Foreign exchange reserves fall $325 million in a week to $560.94 billion

Following sharp increases in the reserves in November and December, the RBI's kitty has been declining for the past few weeks

Rupee records best one-day rise against US dollar in nearly 4 months

Adani-related flows, weaker dollar index push Rs up to one-month high

State Bank of India likely to sell Rs 5,456-crore AT1 bonds next week

UCO Bank may also issue such bonds

RBI puts restrictions on Musiri Urban Co-operative Bank; caps withdrawal

The Reserve Bank of India imposed a Rs 5,000 cap on withdrawals by individual customers from Tamil Nadu-based Musiri Urban Co-operative Bank as part of several restrictions slapped on the lender

Axis Mutual Fund aim for Rs 50 cr from new fund in primary subscription

Axis Mutual Fund aims to collect around Rs 50 crore from the new fund it is launching next Monday during the primary subscription period

Pace of bank lending to infrastructure shrinks to 2.3%: RBI data

Bankers say private infra offtake slow; much of funding is via public funds

PNB makes Positive Pay System must for cheques worth more than Rs 5 lakh

In a move to safeguard customers from fraudulent payment of cheques, state-owned PNB has made the Positive Pay System (PPS) compulsory for cheque payments worth Rs 5 lakh and above

State Bank of India completes first commercial trade in Sri Lankan rupees

The move comes as Sri Lanka grapples with its worst economic crisis since its independence, triggered by a shortage of dollars

ICICI hikes MCLR, Suryoday Small Finance Bank revises FD rates

Overnight and one-month MCLR rates are now at 8.50%, while the MCLR for three months is at 8.55%, ICICI Bank's website showed

UPI, PayNow tie-up: In payments, like geopolitics, India seeks a third way

Indian policy makers believe that the UPI and allied elements of what it calls "digital public infrastructure" are one of their biggest recent innovations