Page 367 - Finance News

Govt not keen on India's inclusion in global bond indices: FinMin official

Finance ministry official says not engaged in dialogue regarding it

PSBs asked to expedite recruitment, fill vacancies in time-bound manner

The finance ministry has asked public sector banks (PSBs) to expedite the process of filling pending vacancies, sources said

Industry prepared for potential disruptions as tokenisation nears

industry insiders say, the success rate of token-based transactions is higher, but inadequate testing of certain use-cases may result in some transactions not going through

Public sector banks plan to establish verticals for big data, analytics

PSBs will also launch digital-only goods, services in the upcoming year with minimal data entry requirements, automated checks, and underwriting for consumers

RBI policy: How inflation, repo rate and demand are linked to each other

With the RBI MPC expected to announce its decision on Friday, we explain how inflation, repo rate and demand are linked to each other

Depleting forex reserves making India vulnerable? Not really, say experts

At the current rate, the reserves may provide cover for eight months of imports in FY23. Four months could be considered a danger mark

Rupee trade: Understanding difference between Nostro and Vostro accounts

The RBI has allowed two Russian banks, Sberbank and JSC VTB, to open Vostro accounts for rupee trade. Read more to find out what a Vostro account is and how it is different from a Nostro account

RBI unlikely to extend card tokenisation deadline despite merchants' demand

Despite a demand by smaller merchants to delay the compliance date, there has been no indication so far by the central bank that there is likely to be an extension in deadline

NPCI sets Oct 31 as deadline to activate offline payments on RuPay cards

The move will breathe life into the RBI's January 3 framework which sought to give a fillip to offline payments and lead to the activation of the One Nation, One Card for on-the-go payments

Small savings rate may remain unchanged for Oct-Dec qtr despite RBI moves

If this happens, it will be the 10th straight quarter of status quo; govt official says Centre did not cut rates when policy rates were being cut during pandemic

Rupee trade: Two Russian banks get RBI nod for special vostro account

Trade between India and Russia started growing after the latter invaded Ukraine in late February

Share of industrial loans in bank credit on decline, personal loans up: RBI

The share of industrial loans in total credit has been gradually declining over the last decade while that of personal loans is on the rise, said RBI

RBI's rate setting panel starts deliberations; decision on Friday

The Reserve Bank's rate-setting panel started deliberations on the keenly awaited monetary policy amidst expectation of 50 basis points hike in interest rate to check inflation

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

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%

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

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

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

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

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