Page 353 - Finance News

Bank holiday: In October, banks will remain closed for total 21 days

Starting today (October 3), the banks in some cities will remain closed for the entire week because of festivals

Further interest rate hike to hit real estate sector badly: Credai

A realtors' body said the rate increase was steeper than expected, but if any further rate hike is passed on to the home buyers, the employment-intensive real-estate sector will get adversely impacted

FinMin's special campaign in seven districts to deepen financial inclusion

Campaign will work to achieve saturation in respect of bank accounts, insurance/pension schemes; distribution of loans to FPOs, SHGs for setting up cold-chain infra, KCC penetration, among other thing

Gone with the loan: Indian travelphiles bank big on 'travel now, pay later'

Maldivian blues or Rajasthan's sand dunes? Keen on both, Rakesh Mandavaya had a budget for none. That's when he learnt of the travel now pay later' option offered by banks and fintech companies

CBDT targets resolving about 3,000 taxpayers' grievances by Oct-end

Sources in the tax department attributes it to the difficulties, taxpayers faced due to some glitches in the new portal since its inception in June of last year.

RBI raises repo rate by 50 bps to 3-year high; FY23 GDP forecast cut to 7%

Inflation target retained at 6.7%; trajectory remains uncertain: Governor

67% of fall in forex reserves due to valuation changes: RBI governor Das

Das reiterated on Friday the RBI does not target any particular level for the domestic exchange rate and only intervenes in the market to smoothen out excessive volatility

Loan provisioning in banks: RBI for expected loss-based approach

Bankers say with low NPAs and high provisions, the time is ripe for global standards

Inflation seen staying above 4% in FY23, to average 5.2% in FY24: RBI

Das says RBI won't make public the communication on failure of achieving target to govt

RBI repo rate hike to manage growth-inflation dynamics, say bankers

Bankers are of the view that a cautious monetary policy will help better address the risks of rising instability in the global economic and financial environment

Tata Sons, Bajaj Finance among 16 NFBCs put in RBI's upper layer list

HDFC, although qualified to be in the upper layer, has been kept out of the list as it is merging with HDFC Bank

Rupee fluctuations not a factor for MPC's consideration, says RBI

'Net LAF continues to be in surplus for the past two years, except for 2-3 days when because of SLF for the primary dealers it became deficit'

Banks can boost liquidity by drawing down on CRR: RBI governor Das

The fall in the liquidity surplus is owing to multiple factors, including the RBI's interventions in the forex market and a sharp pick-up in bank credit growth, which is currently at nine-year highs

System ready for tokenisation, says RBI deputy governor T Rabi Sankar

Roughly 350 million tokens have been created so far, Rabi Sankar said in the post-monetary policy press conference.

System ready for tokenisation as 35 crore cards tokenised, says RBI

About 35 crore cards have been tokenised and the system is ready for the new norms which set in from October 1, the Reserve Bank said on Friday

Currency movements not guiding factors for monetary policy: Shaktikanta Das

Reserve Bank of India Governor Shaktikanta Das on Friday said that currency movements are not the guiding factors for monetary policy decisions

Home loans dearer, moderate impact on residential sale from RBI rate hike

The RBI's decision to hike repo rate will hit consumers' buying sentiment, but will have a moderate impact on housing sales in the affordable and mid-income categories, according to industry experts.

RBI expects current account deficit to come under 3% of GDP in FY23

The Reserve Bank expects the current account deficit to be under 3 per cent of GDP in FY23, Deputy Governor Michael Patra said on Friday

RBI may adopt expected loss approach for banks' loan provisioning: Guv Das

Governor Shaktikanta Das on Friday said the Reserve Bank is mulling to adopt the "expected loss" approach for loan provisioning.

Regulations for offline payment aggregators to be same as online peers: RBI

Offline payment aggregators (PAs) who aid in face-to-face transactions at merchant outlets will now come under the regulatory purview of RBI, Governor Shaktikanta Das announced on Friday.