Page 320 - Finance News

India, Singapore link systems for real-time cross-border fund transfers

The India-Singapore payment connection is part of the trend in Asia where instantaneous, cross-border fund transfers via mobile phones are happening

Indian banks' performance till Dec 22 exceeds expectations: Fitch Ratings

The sector's impaired-loan ratio declined to 4.5 per cent in the first 9 months of FY23 (9MFY23), from 6.0 per cent at FY22

Motilal Oswal AMC introduces new features in SWP; calls it 'FAB' plan

At the heart of this offering is the company's vision to give investors more control when planning their long-term financial goals and lifestyle choices

Banks, financial institutions should safeguard banking security, says RBI

In view of the cybersecurity risk posed to the banking sector, RBI Executive Director Rohit Jain on Monday asked banks and financial institutions to adequately resource the banking security structure

RBI will take required action to keep inflation in check: FM Sitharaman

In a recent report the RBI said that the retreat of inflation is expected to be stubborn and beset by supply shocks in the upcoming year

Indians spent nearly $10 billion on foreign travel in April-December

Before this, the highest spend on overseas travel in an entire financial year was $7 billion in 2019-20

NARCL may revive Srei's group's infra financing arm SIFL, wind up SEFL

Public sector asset reconstruction company NARCL is likely to revive SIFL and wind up the group's equipment financing arm SEFL after recovering outstanding debt in seven years, a source said on Sunday

Difference between rise in median MCLR, term deposits crosses 40 bps

Interest rates on fresh deposits move up faster than fresh loans

Banks' net interest income soars by a record 25.5 pc in Q3: Analysis

The rise in NIM was led by private sector banks, thanks to their operational efficiencies, at 4.03 per cent, up 15 bps on-year

BoM tops list of public sector lenders in loan growth, asset quality

The Pune-based lender recorded a 21.67 per cent increase in gross advances on a year-on-year basis, according to the latest quarterly numbers of the public sector bank (PSB)

Monetary policy stance must remain disinflationary, says RBI report

Says GDP growth will receive 15-basis point boost from tax cuts

RBI may consider priority sector status to green hydrogen projects

The Department of Financial Services on Friday held a meeting, seeking suggestions for easing of financing provisions for the projects being taken up under the National Green Hydrogen Financing

Bankers highly optimistic about credit demand across sectors: RBI survey

Bankers are "highly optimistic" about credit demand across all the main sectors in the short term, a RBI survey of lenders said on Friday

Moneyboxx cumulative disbursements reach Rs 440 crore till January

Moneyboxx started operations in February 2019 and it currently has 54 branches spread across six states - Rajasthan, Punjab, Haryana, Madhya Pradesh, Chhattisgarh and Uttar Pradesh

India setting up $4 billion fund to backstop corporate debt market

The government will provide 90% of the money for the fund, and other asset managers would contribute the rest, deputy managing director D.P. Singh said

Liquidity likely to veer towards neutral after three years of surplus

Future scenario hinges on forex market, govt spending, credit growth

RBI makes changes in NEFT, RTGS for daily reporting of foreign remittances

With Home Ministry mandating SBI to report all details of overseas donors, including purpose of remittances on daily basis, RBI made changes in NEFT and RTGS systems for FCRA related transactions

HDFC Bank goes live on 'Rupay Credit on UPI' feature for customers

Credit cards can be linked to a UPI identity for secure payment transactions

Investment in pvt wireless network seen at $ 250 mn by 2027: Nokia report

Investment in private wireless networks is expected to reach nearly USD 250 million by 2027, according to a report by Nokia that also talked of a three-fold jump in mobile data usage

HDFC prices its biggest ever rupee bond issuance; to raise Rs 25,000 crore

HDFC is stepping up borrowing from notes because its merger with HDFC Bank Ltd. will make accessing the bond market more difficult