Page 355 - Finance News
RBI policy: Here is how a repo rate hike can affect your finances
If RBI increases the repo rate, the cost of borrowing by banks also rises, which subsequently makes taking loans from banks costlier
 "RBI policy: Here is how a repo rate hike can affect your finances")
Hawkish Fed may prompt Reserve Bank to deliver a 50-basis-point hike
The RBI's monetary policy committee (MPC) has already hiked the key policy rate by 140 bps since May to 5.4%
 "Hawkish Fed may prompt Reserve Bank to deliver a 50-basis-point hike")
Axis Bank looks to buy near 10% stake in Go Digit Life Insurance
The development underscores private lenders' growing interest in India's lucrative and largely untapped insurance sector
 "Axis Bank looks to buy near 10% stake in Go Digit Life Insurance")
Active credit cards drop 2.3 million in August over new RBI norms
Spends decline 3% MoM but top Rs 1 trn for sixth consecutive month
 "Active credit cards drop 2.3 million in August over new RBI norms")
Amid falling staff strength, PSBs may soon start hiring on a monthly basis
From a peak of 886,490 in 2012-13, the staff strength in government banks fell to 770,800 in 2020-21
 "Amid falling staff strength, PSBs may soon start hiring on a monthly basis")
Enhance coverage of scheduled castes in all schemes: FM Nirmala Sitharaman
The FM was chairing the performance review of PSBs on credit and other welfare schemes for scheduled castes
 "Enhance coverage of scheduled castes in all schemes: FM Nirmala Sitharaman")
Bank of India acquires over 5.5% stake in ONDC for Rs 10 crore
State-owned Bank of India has acquired over 5.5 per cent stake in Open Network for Digital Commerce (ONDC) for Rs 10 crore, the lender said on Tuesday
 "Bank of India acquires over 5.5% stake in ONDC for Rs 10 crore")
HDFC Bank launches festive scheme; home, personal, auto loans included
The loans for these categories, which fall under a scheme titled 'Festive Treats 4.0', are applicable till October 31, 2022, the bank's website showed
 "HDFC Bank launches festive scheme; home, personal, auto loans included")
India Ratings upgrades non-bank lenders' outlook to neutral from improving
Domestic rating agency India Ratings on Tuesday upgraded its outlook on the non-bank lenders to "neutral" from "improving" on better collection efficiencies and asset growth in the sector
 "India Ratings upgrades non-bank lenders' outlook to neutral from improving")
RBI's MPC to start 3-day meet on Wednesday, another rate hike likely
RBI's rate-setting panel will start its 3-day deliberations on Wednesday amid expectations of yet another rate hike of 50 basis points to check high inflation
Decoded: What are green bonds and how much will be the govt issue?
Green bonds are debt instruments the proceeds of which are utilised to finance projects that are beneficial to the environment
 "Decoded: What are green bonds and how much will be the govt issue?")
RBI may need to reload reserves as rupee falls further: HDFC economist
The Reserve Bank of India may need to find ways to replenish its foreign exchange reserves such as encouraging non-resident Indians to deposit more funds, as it looks to stabilise a depreciating rupee
 "RBI may need to reload reserves as rupee falls further: HDFC economist")
What are the implications of Rupee staying beyond 80?
The Indian rupee continued to depreciate as it hit the all-time low of 81.63 against the US dollar on Monday. Even though it doesn't spell bad news for all the sectors, what will be the implications?
 "What are the implications of Rupee staying beyond 80?")
FM Sitharaman to review credit, welfare schemes for SCs on Tuesday
The review of measures undertaken for the welfare of SCs in the banks would be one of the agendas of the meeting
 "FM Sitharaman to review credit, welfare schemes for SCs on Tuesday")
UCO Bank, used by India for Iran payments, plans rupee trade with Russia
UCO Bank will put in place operational modalities before opening the account with the Russian counterpart, Prasad said, adding that there is no clear time line on when transactions can begin
 "UCO Bank, used by India for Iran payments, plans rupee trade with Russia")
NBFCs' recovery to be hit after RBI action against M&M Financial Services
Moreover, as lenders will not deploy their own staff for such activity, their operation costs may go up, said experts
Samsung forays into finance, launches credit card with Axis Bank and Visa
Samsung Axis Bank Credit Card will allow customers to avail of a 10 per cent cashback across all Samsung products and services throughout the year
 "Samsung forays into finance, launches credit card with Axis Bank and Visa")
Govt draws up plans to address concerns of green bond investors
A government official aware of the developments said the treatment for such bonds had to be different from that for the money raised through various types of cess
Can financial services be made bite-sized to deepen credit penetration?
Small can be more beautiful: Large-scale sachetisation of financial services may be just around the corner
 "Can financial services be made bite-sized to deepen credit penetration?")
Canara Bank to raise Rs 3,000 cr in AT1, tier-II capital in H2FY23
The bank, which aims to keep capital adequacy at the 16% and above level, has already raised Rs 6,000 cr via these instruments in H1
 "Canara Bank to raise Rs 3,000 cr in AT1, tier-II capital in H2FY23")