Page 366 - Finance News

After 15 months, RBI allows AmEx to acquire new credit card customers

The Reserve Bank had banned American Express from onboarding new customers in April 2021 for non-compliance with local data storage rules

Bandhan Bank to open 551 branches in FY'23: MD Chandra Sekhar Ghosh

Ghosh also said Bandhan Bank will continue to expand its product portfolio, having recently added mutual funds to the lender's list of offerings.

High interest rates do not deter home buyers, says BoB research report

Borrowing rates are on the rise since May this year after the Reserve Bank of India (RBI) effected first hike in the benchmark lending rate. The repo rate has increased by 140 basis points since May

What is an e-way bill?

Commercial vehicles that transporting goods worth more than Rs 50,000 within a state or between states, need to carry a document called e-way bill. What is this bill and what purpose does it serve?

Banks must ensure credit schemes reach eligible citizens: FM Sitharaman

'Difficult situation' caused by unintended people getting benefits of credit programmes now over, she says

FSIB recommends 14 GMs for position of EDs in state-owned banks

The Financial Services Institutions Bureau (FSIB) interviewed 57 candidates between August 19-23 for recommending suitable names for executive directors (EDs) in public sector banks (PSBs).

The case for pricing UPI transactions and what's at stake for banks

Banks pay a switching fee running into hundreds of crores every year for UPI, but have to offer the service for free

Inflation to ease to 4% in two years after peaking, says RBI Governor

The RBI has raised policy repurchase rate by a total of 140 basis points since May, including back-to-back half point increases in June and August, to cool down inflation within its mandate

NARCL revises CEO Natarajan Sundar's salary to market rates: Report

In a bid to attract experienced talent, the National Asset Reconstruction Co Ltd (NARCL) has increased the total remuneration of its chief executive, Natarajan Sundar to Rs 1.7 crore

RBI set to hike interest rates by another 50-60 bps, inflation key concern

August 22 MPC of RBI highlights that inflation continues to remain the key concern for the MPC members despite a deceleration in the overall price momentum after a peak of 7.8% recorded in April

Now, IDBI Bank too hikes deposit rates to fund strong loan demand

The highest rate for senior citizens is 6.55 per cent for tenors ranging from 5 years to more than 5 years and up to 10 years

Mortgaged property e-auctioning portal of PSBs is set for a makeover

The common electronic platform to auction mortgaged properties of PSBs is set to get a makeover with plans to make all processes in the auctioning life cycle seamless and more us

RBL Bank's board approves raising Rs 3,000 crore to fund business growth

The fund raising will be subject to the approval of the shareholders, the bank said in a regulatory filing.

Banks' AT-1 bond issuances may decline to Rs 20,000 cr in FY23: Report

Majority of the bonds have a call option in the fifth year, resulting in the significant jump in new issuances which are basically for refinancing the earlier obligations.

State funds to popularise digital payment appropriated by banks: PCI chief

Payment aggregators have received nothing, says Vishwas Patel as RBI discussion paper starts debate

LIC Housing Finance, Bajaj Housing Finance hike lending rates by 0.5%

The revisions come amid a rising interest rates scenario, which has seen the RBI hiking its key lending rate by 1.40 per cent since May to tame inflation.

Indian banks issue more certificates of deposits to secure cheap funding

Indian private and PSU banks have raised around Rs 30,000 cr through two-month to one-year CDs in the two weeks to Aug. 19, sharply higher than the roughly Rs 5,000 cr in the previous two weeks

LIC Housing Finance hikes prime lending rate by 50 basis point to 8%

LIC Housing Finance increased its Prime Lending Rate by 50 basis points. With this the new interest rates on home loans will now start from 8 per cent as against 7.50 per cent earlier.

Amrit Mahotsav FD scheme: IDBI Bank announces special 500 days deposit

IDBI Bank has introduced a limited period special 500 days deposit under the Amrit Mahotsav FD scheme, which will offer 6.70 per cent interest rates

RBI likely to set 7.23% cutoff yield on new 10-year bond: Reuters poll

RBI will likely set a cutoff yield of 7.23% on 130 billion rupees ($1.63 billion) of the new 10-year bond being auctioned on Friday, according to the median estimates in a Reuters poll