Page 356 - Finance News

RBI set for fourth straight rate hike to quell inflation, say experts

The RBI, which has since May raised the short-term lending rate by 140 bps, may again go for a 50 bps increase to take it to a three-year high of 5.9%, say experts

ADB explains why RBI may slow down on rate cuts till next year

'The RBI may consider slowing the pace of policy rate hikes until next year because economic activity, although increasing, remains below the pre-pandemic trend,' says ADB

High NPAs in education loan segment turn banks cautious, says PSB official

As a result some genuine cases are overlooked and there are delays, the official said.

We're looking to hire 1,700 bankers this year: Central Bank of India MD

Rao says he doesn't foresee much flight of CASA money into term deposits as deposit rates are hiked

At 16.2%, credit growth in banking system at multi-year high: RBI data

But a widening credit-deposit gap is a concern for lenders

Customers must report unauthorised transactions immediately: SBI chief

Khara asserted that customer service should be given the utmost priority and urged customers of the bank to remain aware for checking the rise of cybercrime cases.

Will exit reconstruction scheme after lock-in period ends: YES Bank

The RBI has set three parameters for YES Bank before it can leave the reconstruction scheme

Gains ahead for SBI: Higher NIM could lead to double digit earnings growth

A recovering economy may lead to higher credit demand from corporates, despite rising rates and there are signs that retail consumption is picking up

UPI Lite: A payment method that allows you to pay without PIN or internet

The upper limit for payments has been set at Rs 200; wallet balance cannot exceed Rs 2,000 at any point

Rupee Cooperative Bank set to explore merger proposal, SFB conversion

On August 8, the RBI had ordered cancellation of the banking licence of the ailing UCB from September 22. The high court will take up the matter on October 17

India OIS curve may steepen on overcooked rate hike bets: BofA Securities

BofA expects the Reserve Bank of India to raise rates by 25-35 basis on Sept. 30 and reckons the policy rate will reach 6.5% by end-2023, much later than what some investors are expecting

ICICI Bank launches 'Festive Bonanza', announces offers on home, auto loans

In the personal loan segment, customers will not be levied pre-closure charges after 12 equated monthly instalments are paid

Axis Bank starts giving loans through account aggregator framework

Axis Bank on Thursday said it has started disbursing loans through the Account Aggregator (AA) framework, which enables easy and instant access to financial information of customers in a secure manner

SBI least efficient in Asia-Pacific due to high cost-to-income ratio: Study

State-owned lender had the highest cost-to-income ratio, according to S&P Global Market Intelligence

IDBI Bank completes sale of entire stake of Ageas Federal Life Insurance

Ageas Insurance International has completed the acquisition of a majority stake in its Indian joint venture Ageas Federal Life Insurance, picking up 25 per cent stake of IDBI Bank for Rs 580 cr

RBI orders M&M Financial to stop loan recovery via third party

The shadow lending arm of the Mahindra Group can continue recovery or repossession activities through its own employees, the RBI said in a statement

Solapur-based Laxmi Co-op Bank loses licence after failing RBI norms

Depositors to get insurance claim, amount of Rs 193.68 cr already paid out

UCO Bank becomes first lender to get RBI's approval for rupee trade

Many banks in India are planning to open such special vostro accounts for settling trade transactions with other nations

RBI cancels licence of Solapur-based Laxmi Co-operative Bank

On liquidation, every depositor would be entitled to receive deposit insurance claim amount of his/her deposits up to Rs 5 lakh from DICGC

Microfinance disbursements slowed in Q1 FY23 after new regulations: MFIN

Lenders needed time to make policy changes after norms were updated in March 2022, says industry group