Page 359 - Finance News

Foreign fund flows remain weak for banks despite RBI's liberal steps

The measures have brought in $1.5-2 billion so far; response to relaxed FX norms tepid as US rates higher, RBI not acting as counterparty

Be ready to meet the credit demand: FM Nirmala Sitharaman to banks

The finance minister said Indian banks have to plan for the Amrit Kaal. And for that, they have to become digitally savvy, especially the public sector ones

Banks ensure their systems speak to each other for customer service: FM

The finance minister also underlined the need for ensuring that banking personnel converse in the local language so that their customers are served better.

Eldeco partners HDFC Capital to form Rs 350 cr fund for housing projects

HDFC Capital, a subsidiary of Housing Development Finance Corporation Ltd, is in the business of managing private equity funds focused on the real estate sector in India

RBI likely to raise repo rate by 50 basis points to 5.9%: Morgan Stanley

"We were earlier expecting a 35bp increase, however, sticky inflation and continued hawkish stance of DM central banks, warrants continued front loading of rate hikes, in our view," the report said

IRCTC causing loss to exchequer by not issuing invoice: Tax consultant

Chandigarh-based tax consultant Ajay Jagga said the Supreme Court recently issued notices to the Central government on a plea seeking to plug existing loopholes in the GST system

Banks seek clarity on 'grey areas' from RBI on Rupee Vostro accounts

India has stepped up its purchase of cheaper Russian crude despite international opposition and sanctions. New Delhi is looking to settle this trade in rupees to continue with its purchases

FSDC stresses on the need to monitor India's financial sector risks

Meeting discusses that it's endeavour of regulators to ensure incidents like the NSE colocation scam don't repeat and there are better ways to deal with the fallout

CBI books PSL Group for cheating Canara Bank to tune of Rs 428.50 cr

The CBI has filed a case against PSL Group and its directors for allegedly cheating Canara Bank to the tune of Rs 428.50 crore by defaulting on credit repayments, officials said.

Post-IPO, Tamilnad Mercantile Bank to up focus on RAM, go on phygital mode

TMB's IPO was subscribed 2.86 times on the last day of subscription

IndusInd Bank re-appoints Sumant Kathpalia as MD & CEO for 3 years

Prior to joining IndusInd Bank, Kathpalia had stints with Citibank, Bank of America and ABN Amro

Ujjivan Small Finance Bank closes QIP issue; raises Rs 475 crore

Ujjivan Small Finance Bank on Thursday closed the qualified institutional placement through which it raised Rs 475 crore by issuing over 22.6 crore shares

CSB Bank appoints Pralay Mondal as MD & CEO with effect from Sep 15

Mondal was the deputy managing director of the bank since February 17, 2022 and was subsequently appointed as interim MD & CEO with effect from April 1, 2022

J-K Bank shareholders reject ESOP plan, Wani's reappointment as director

Bank surpassed the milestone of Rs 500 crore annual profit for FY2021-22, registering an annual increase of 16 per cent, Prakash told the shareholders

State Bank of India may sell Rs 4,000 crore tier-2 bond next week

Canara Bank raised Rs 2,000 crore worth of AT1 bonds at a rate of 7.99 per cent, taking its total issuance of such bonds so far in the year to Rs 4,000 crore

SBI Card raises Rs 500 cr through bonds on private placement basis

On Thursday, shares of SBI Card closed flat at Rs 958.20 apiece on the BSE

State Bank of India ready to open rupee trade account with Russian banks

A vostro account is opened by a domestic bank with a foreign correspondent bank to act as an agent for the domestic bank

SBI clarifies it's not a nodal bank for Russia-related transactions

The country's largest lender, State Bank of India (SBI) on Thursday clarified that it has not been identified as a nodal bank for handling Russia-related transactions

SBI raises benchmark prime lending rate by 70 basis points to 13.45%

The country's largest lender, State Bank of India (SBI), raised the Benchmark Prime Lending Rate (BPLR) by 70 basis points (or 0.7%) to 13.45% on Wednesday

Govt to soon invite bids for IDBI Bank privatisation: DIPAM Secretary

Currently, the government holds 45.48 per cent in the bank, and Life Insurance Corporation of India, which is currently the promoter of the bank, owns a 49.24 per cent stake.