Page 352 - Finance News

Money-changing, allied services and products biz back with a bang

The fortunes of money changers have seen a dramatic recovery even as they reinvent themselves

Moneyboxx Finance expands operations in Chhattisgarh, opens new branches

Moneyboxx provides unsecured and secured business loans ranging from Rs 1-7 lakh to individual borrowers in Tier-III and below places

43% of MSMEs to close this fiscal with pre-pandemic margins: Report

The report is based on 69 sectors and 147 clusters or two-thirds of the MSME universe, which logged an aggregate revenue of Rs 56 lakh crore, representing 20-25 per cent of the GDP

SBI expects 14%-15% corporate credit growth in FY23, says top executive

Speaking of weak deposit growth being seen across the banking system, Swaminathan said it would require banks to be watchful

Why is the RBI governor worried about deposit growth?

Gauging sustainability of the credit growth in banking sector and the slow growth in deposits will be on the agenda of RBI Governor's meeting today. Why has deposit growth become a cause for concern?

Bank credit to grow 15% this and next fiscals as economy recovers: CRISIL

Riding on a broad-based economic recovery and stronger, cleaner balance sheets, lenders are expected to see their credit growing at 15 per cent this fiscal and the next, a report said on Tuesday.

Share of low-cost deposits falls as FD rates rise, banks' NIM may take hit

With RBI on monetary tightening path, liquidity has shrunk and interest rates have hardened, forcing banks to hike rates on term deposits in order to get funds for credit growth

Bank borrowings up 2x amid rush to fund credit growth, shows RBI data

As liquidity shrinks, lenders' reliance on short-term funding routes increases

Google Play allows UPI Autopay payment for subscription-based purchases

Autopay helps customers make recurring payments using any UPI application

Nine Russian banks open special vostro accounts for trade in rupee

Next round of India-UK FTA talks expected in Dec: Commerce secy

9 Russian banks open vostro accounts for trade in Rupee after RBI approval

As many as nine special vostro accounts have been opened with two Indian banks after permission from the Reserve Bank of India to facilitate overseas trade in rupee, a top government official said

A step-by-step guide on withdrawing cash from ATM using UPI apps

Withdrawing without debit or credit cards reduces chances of transaction failure due to wrong PINs, or lost or stolen cards; note, however, that very few banks offer UPI-based withdrawals currently

Mortgage lender HDFC to raise up to Rs 5,500 cr via bonds on Thursday

Mortgage lender HDFC will raise up to Rs 5,500 crore by issuing bonds on private placement basis to shore up its resources.

SBI hikes MCLR by up to 15 bps across tenors making consumer loans costlier

State Bank of India has raised the marginal cost of funds-based lending rate (MCLR) by 15 basis points across tenors, making most consumer loans costlier for borrowers.

RBI Guv to meet banks CEOs on Wednesday to discuss slow deposit growth

Reserve Bank Governor Shaktikanta Das will hold a meeting with CEOs of public sector banks on Wednesday to discuss issues concerning slow deposit growth and sustainability of high credit demand.

Bank credit to grow 15% YoY in FY23, FY24 on corporate demand: CRISIL

Lenders may have to raise deposit rates at faster pace, says senior executive of agency

RBI likely to go for smaller rate hikes as inflation eases: Analysts

The RBI has already raised rates by 190 bps since May, to 5.90%, as it battles to reign in inflation that has stayed above its 2%-6% tolerance band for ten straight months now.

Is it the beginning of crypto's end?

FTX, the world's second biggest crypto exchange, has gone bankrupt. Bitcoin fell another 12% in the last five days, after shedding over 70% this past year. So is it the beginning of the end of crypto?

India' health sector got $1.5-billion investment so far this year

Investment activity in the health care space has not slowed down due to the Covid-19 pandemic

Bank of Baroda raises rates on retail term deposits by up to 100 bps

Interest rate for 3-10 years maturity have been increased by 45 basis points to 6.10 per cent