Page 342 - Finance News
RBI circular permits resident entities to hedge gold price risks at IFSC
The Reserve Bank on Monday permitted resident entities to hedge their exposure to price risk of gold on exchanges in the International Financial Services Centre (IFSC).
 "RBI circular permits resident entities to hedge gold price risks at IFSC")
One in two urban Indians investing more post Covid: DSP MF-YouGov Survey
45% respondents raised their investments as pandemic forced a rethink on financial health, 23% slashed it due to pay cuts, fall in risk-taking capacity, uncertainty in business and job loss
 "One in two urban Indians investing more post Covid: DSP MF-YouGov Survey")
ICICI Bank raises Rs 5,000 crore through bonds to fund business growth
Private sector ICICI Bank on Monday said it has raised Rs 5,000 crore through bonds to fund business growth
 "ICICI Bank raises Rs 5,000 crore through bonds to fund business growth")
RBI imposes penalty on 13 cooperative banks for breaching regulatory norms
The Reserve Bank of India on Monday announced penalties on 13 cooperative banks for contravention of various regulatory norms
 "RBI imposes penalty on 13 cooperative banks for breaching regulatory norms")
Bank of Maharashtra likely to sell Rs 1000 crore of AT-1 bonds
Over the last couple of weeks, banks have made a beeline to raise funds by issuing debt instruments
 "Bank of Maharashtra likely to sell Rs 1000 crore of AT-1 bonds")
Digital lending apps: RBI received 13,000 complaints against banks, NBFCs
The grievances, filed under RBI's integrated ombudsman scheme of 2021 between April 2021 and Nov 2022, also cite harassment by recovery agents
Govt not to make RBI report on MPC's first-ever inflation failure public
MPC is said to have failed to achieve inflation target if average CPI inflation falls outside 2-6% range for three straight quarters. This was the case in the three quarters from Jan to Sept of 2022
State Bank of India to begin overseas rupee trade with smaller nations
Move to steer clear of West sanctions on Russia deals
 "State Bank of India to begin overseas rupee trade with smaller nations")
Punjab National Bank plans Rs 1,000 cr AT-1 bond issue to shore up capital
The cost of paying coupon on tier-1 bonds, a form of debt, is less than servicing equity capital
 "Punjab National Bank plans Rs 1,000 cr AT-1 bond issue to shore up capital")
CBDT issues important circular on TDS on salaries for current fiscal
The Central Board of Direct Taxes (CBDT) in a circular related to TDS deduction from salaries has said that any person responsible for paying salary must deduct income tax while paying the amount
 "CBDT issues important circular on TDS on salaries for current fiscal")
Indian Overseas Bank revises interest rates on domestic, foreign currency
Public sector Indian Overseas Bank has revised the interest rates on its domestic, foreign currency non-resident (banking) term deposits with immediate effect, the city-based lender said on Saturday
 "Indian Overseas Bank revises interest rates on domestic, foreign currency")
Not all banks may opt to sell products of 27 insurers, say experts
Insurers are happy with the opening up of the distribution network as they need not shell out huge sums as a sign-in bonus to banks as corporate agents
 "Not all banks may opt to sell products of 27 insurers, say experts")
Govt may extend bid submission deadline for stake sale in IDBI Bank
January 2023 could be new date following requests from transaction advisor
 "Govt may extend bid submission deadline for stake sale in IDBI Bank")
Banks need to scale up investments in technology, says RBI's MK Jain
Financial institutions must build capacities in analytics and HR, says central bank deputy governor
Finance ministry likely to target fiscal deficit of 5.5-6% in FY24 Budget
This means the government will stick to its fiscal consolidation road map, which envisages a deficit of 4.5 per cent of GDP by FY26
 "Finance ministry likely to target fiscal deficit of 5.5-6% in FY24 Budget")
YES Bank gets RBI nod to raise capital from Carlyle, Verventa Holdings
YES Bank will now engage with the investors for completion of the proposed capital raise, subject to various regulatory compliances
 "YES Bank gets RBI nod to raise capital from Carlyle, Verventa Holdings")
Bank of Baroda hikes MCLR up to 30 basis effective December 12
The revised rates will be effective from December 12
 "Bank of Baroda hikes MCLR up to 30 basis effective December 12")
State Bank's board to take call on raising capital via tier I bonds
State Bank of India (SBI) said its board will meet on December 14 to decide on raising capital through Tier I bonds
 "State Bank's board to take call on raising capital via tier I bonds")
ADB approves $250 mn policy-based loan to strengthen logistics sector
The ADB on Friday said it has approved a $250 million policy-based loan to support India's wide-ranging reforms that aim to strengthen and modernise the country's logistics infrastructure
 "ADB approves $250 mn policy-based loan to strengthen logistics sector")
Revised RBI guidelines on securitisation likely to impact short-term loans
But they are unlikely to disrupt the securitisation market as such loans constituted only 5% of the total securitisation volume in H1FY23
 "Revised RBI guidelines on securitisation likely to impact short-term loans")