Page 350 - Finance News

Forex below $500 bn would force RBI to hike aggressively: Morgan Stanley

RBI has used close to $100 bn of FX reserves since late 2021 to defend the currency. Such action makes sense as it had been accumulating FX reserves before that and it wants INR stability

Google Pay, PhonePe, other UPI payment apps may impose transaction limit

UPI payment apps like Google Pay, PhonePe, Paytm, and others may soon impose a limit on the transaction

HDFC Bank, Canara Bank get RBI approval for rupee trade with Russia

Three others got permission earlier, but no deal so far

Parekh wants financial sector to do a credit bureau encore on climate risks

Noted banker Deepak Parekh has underlined the need for the financial sector to come together to take the lead to create a data bank on green loans in the way they created credit bureaus

ICICI Bank launches dollar bond, deposit-linked loan for NRIs at GIFT City

Lender claims to be the first to offer these products in GIFT City

Ration shops to double up as financial service providers in Chhattisgarh

Besides banking correspondent services through tie-ups with banks, the shops will be allowed to sell other commodities and general store items

Budget should focus on job creation, steps to broaden tax base: India Inc

The Budget should focus on measures to accelerate job creation and broaden the tax base by rationalising GST and personal income tax slabs to boost consumption, industry bodies said

Rise in Indian corporate lending to locals signals new investment cycle

That international slowdown will limit the strength of the new Indian cycle, economists say.

Outward remittances under liberalised remittance scheme jump 50% in H1

During the second quarter of FY23, remittances stood at $7.3 billion, compared to $5.2 billion a year ago

Govt appoints 10 executive directors to public sector banks for 3 years

The union government decided to increase the term of wholetime directors in public sector banks, including MD & CEOs, to 10 years, from five years

Cut I-T, review capital gains tax in Budget 2023-24: CII to govt

FM Nirmala Sitharaman's pre-Budget consultations from today

Punjab & Sind Bank eyes Rs 1,100 crore profit amid bad loans resolution

State-owned Punjab & Sind Bank expects to clock a net profit of around Rs 1,100 crore in the current financial year on the back of resolution of bad loans

Auditors' timely red flag may have stopped many financial misdoings: NFRA

Many financial misdoings could have been detected and averted at an early stage if the auditors concerned had pointed out such instances to stakeholders in time, a top NFRA official has said

Six years after demonetisation, deployment of ATMs set for biggest spike

ATM deployments had hovered between 225,000 and 235,500 units, before sniffing the 260,000-mark recently

At the crossroads: How are ARCs to augment their capital to Rs 300 crore?

The asset reconstruction business is in for a big change, but there are doubts if this will lead to better results

Banks increase EBLRs by 190 bps in tandem with RBI's repo rate hike

All major banks have increased their external benchmark-based lending rates by 190 basis points in tandem with the hike in the Reserve Bank's policy repo rate since May this year

Towards a vibrant bond market for retail investors

Registering online bond platforms as stockbrokers will ensure transparency and protect investors' rights. However, investors must ensure that they are dealing with market participants

RBI report flags large-scale variation in property tax collection in states

It may look surprising but it is a fact that the property tax revenue of the municipal bodies in Delhi is much more than that of bigger states including Uttar Pradesh, Madhya Pradesh, Rajasthan

Rate hikes will help Indian banks post healthy profits in FY23: S&P

S&P Global Market Intelligence said five of the six biggest banks by assets in India reported an increase in net income for the fiscal second quarter ended September 30, 2022.

Trend shift? Bank deposits rise four times versus credit outflows

Credit rose by Rs 0.43 trillion to Rs 129.26 trillion and deposits grew by Rs 1.7 trillion to Rs 173.7 trillion in the reporting fortnight