Page 367 - Finance News

Trade settlement: Govt says banks free to not deal with sanctioned entities

There are over 200 banks in Russia, and sanctions have not been imposed on all of them

RBI's net forward book shrinks $34.94 bn in first 3 months of FY23

The multi-pronged defence of the rupee is behind the sharp fall in RBI's long forward position

Indians remitted $6 bn in Q1FY23 under LRS scheme, shows RBI data

Spend on international travel accounts for 48% of total remittance

DICGC to make payments to depositors of 17 co-op banks in October

The Deposit Insurance and Credit Guarantee Corporation (DICGC) will be making payments to the eligible depositors of 17 cooperative banks, including eight from Maharashtra, in October

MPC minutes suggest further repo rate hikes to tackle rising inflation

Sequence of policy measures is expected to anchor inflation expectations, said Das

Sebi moves to safeguard demat accounts through block mechanism

Sebi, in a circular on Friday, said that the decision was taken "considering the benefits of block mechanism"

Sebi urges intermediaries to join accounts aggregator framework

The market regulator also set rules that will specifically be applicable to players in the stock market ecosystem joining the aggregator framework

I-T dept allows taxpayers more time to claim credit for taxes paid abroad

The income tax department on Friday said taxpayers can claim credit for taxes paid outside India before the end of the assessment year if the I-T return is filed within the stipulated deadline.

Rajasthan accounted for highest share in cost of projects in FY22: RBI

Rajasthan accounted for the highest share in the total cost of projects sanctioned by banks and financial institutions in 2021-22, retaining the top place for two consecutive years

Flows into NRI deposits nosedive to mere $349 mn in June quarter

Outstanding deposits declined to $135.9 billion at the end of June 2022 from $141.5 billion a year ago.

India aims to copy China, but unbridled digital lending off policy agenda

The Reserve Bank of India's recently released guidelines for app-based loans show a clear desire to rein in the industry after its pandemic-era excesses

RBI report projects retail inflation within tolerance band by Q1FY24

Says persistent high inflation needs policy response

UPI charges may partially offset loss on credit card MDR: RBI paper

UPI charges may partially offset loss on credit card MDR

UPI expands; Indian flyers to UK to enjoy hassle-free digital transactions

Expanding further outside India, the indigenously developed real-time payments solution UPI will foray into the UK market starting with QR code-based transactions.

Axis Bank hikes MCLR by 5 bps across tenors, follows other lenders

Banks change lending policy to keep up with monetary policy committee's raising repo rate

Big-bang privatisation of PSUs can be harmful, says RBI article

The study has found that labour cost efficiency is higher in PSBs in comparison to private banks

HDFC Bank may introduce credit scores for third-party vendors

Latest Reserve Bank of India data showed that in 2021-22, frauds to the tune of Rs 60,414 crore were reported, down 56.28 per cent from Rs 1.38 trillion in 2020-21

Microfinance loans grow 24% YoY in Q1 of FY23; credit quality stable

Fund flow to the sector has improved but some smaller MFIs still find it difficult to access finance from banks

RBI seeks public feedback on charges in payment systems by Oct 3

Charges for payment services should be reasonable and competitively determined for users while also providing optimal revenue stream for the intermediaries, states the discussion paper

Gujarat: Japanese lender MUFG Bank commences operations from GIFT City

Going forward, the bank will strive to further leverage its enhanced office footprint to provide an even more extensive and enriched suite of financial services to meet diverse needs of its customers