Page 350 - Finance News

RBI's revised ARC norms improve governance; may shake up industry

Three players -- JM Financial ARC, Edelweiss ARC, and ARCIL -- have a dominant presence in the sector with a sound capital base and management bandwidth

SBI, HDFC offer discounted home loans at 8.40% as part of festive sales

Despite rising interest rates, leading home loan players SBI and HDFC have announced discounted interest rates beginning at 8.40 per cent as part of their festive offerings

RBI to submit report on failure to tackle inflation for 3 qtrs since Jan

With inflation staying above the upper tolerance limit for nine months, the Reserve Bank will now have to submit a report to the central government detailing reasons for the failure to contain prices

SBI home loan book crosses Rs 6 trn-mark; launches festival discounts

The nation's largest lender State Bank on Wednesday said its home loan book has surpassed the Rs 6-lakh-crore-mark, making it the largest in the industry

Travelling to Europe? Now make hassle-free payments using UPI on your phone

Those visiting Europe will be able to make payments through UPI as the NPCI International Payments Ltd (NIPL) has entered into a partnership with European payment services facilitator Worldline

Singapore, UAE to accept RuPay payment mechanism: Nirmala Sitharaman

Nirmala Sitharaman said that Singapore and UAE have shown interest to accept the RuPay payment system acceptable in their countries

IMF praises RBI for tightening the monetary policy to curb inflation

The International Monetary Fund (IMF) praised the Reserve bank of India (RBI) for tightening the monetary policy to curb inflation in the country

India in talks with different nations to make Rupay acceptable: Sitharaman

India is talking to different countries to make Rupay acceptable in their nations, Union Finance Minister Nirmala Sitharaman said

Next budget will have to be carefully structured to maintain growth: FM

The next annual budget will have to be very carefully structured to sustain the country's growth momentum, FM Nirmala Sitharaman said, noting that it will also address inflation concerns

RBI asks banks to set aside capital, provisions for unhedged FX exposure

Move comes amid sharp depreciation in rupee; says losses incurred by entities with such exposure could affect health of banking system

RBI tightens disclosure norms on divergence in NPAs, provisions

This threshold will be reduced progressively for UCBs in a phased manner after review, RBI said

MDs, CEOs of ARCs can't have more than 3 terms in office without a cool-off

RBI allows ARCs to bid for assets in IBC cases

Liquidity slips into deficit on high credit growth, festival loan demand

Banks face pressure to raise deposits; weighted average call rate highest in 3 years

RBI raises minimum capital requirement for setting up ARCs to Rs 300 cr

The Reserve Bank raised the minimum capital requirement for setting up an asset reconstruction company (ARC) to Rs 300 crore from the existing Rs 100 crore with an aim to strengthen the securitisation

RBI issues consolidated guidelines on unhedged foreign currency exposure

The Reserve Bank on Tuesday modified and consolidated guidelines for banks on unhedged foreign currency exposures of any entity to prevent losses due to heightened volatility in the forex market

RBI allows SPDs to undertake all foreign exchange-related activities

The Reserve Bank of India (RBI) on Tuesday allowed standalone primary dealers to offer all foreign exchange market-making facilities to users

MFI loans decline in June qtr; NPA situation improves, says report

The June quarter witnessed a marginal decline in the overall microlending outstanding on a sequential basis, but there was an improvement in the asset quality, a report said on Tuesday

IDBI Bank: Corporates cannot be bidding consortium members, says official

Large corporates have been disallowed from being even a minority shareholder in consortium wanting to bid for 61 per cent stake in IDBI Bank

EVs, green hydrogen to soon come under priority sector lending: Report

Currently, 8 sectors are eligible to get lending under the PSL mechanism including agriculture, MSMEs, export credit, housing, education, renewables, and social infrastructure sectors

As MPC raises growth projections, what makes the panel so optimistic?

The MPC believes that there is growth momentum due to better farm production, government policies to boost capex, improvement in business and consumer sentiment