Page 369 - Finance News

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

Axis Bank looking at more partnerships with Big Tech: Axis Bank MD

Amitabh Chaudhry says the private lender spends Rs 900 crore every buying priority sector lending certificates to meet its targets

IndusInd Bank and RBL Bank increase MCLR days ahead of MPC meeting

MPC has increased the repo rate by 140 bps cumulatively since May in an effort to rein in inflation

Banking system liquidity may remain in deficit in second half: Analysts

Liquidity in India's banking system is likely to remain in deficit in the second half of this financial year as credit growth picks up and the circulation of currency notes rises, analysts said

Why are government and regulators uneasy about fintech's rise?

Rise of the fintech sector is posing a two-fold challenge before regulators and the govt: To turn India into a fintech superpower while ensuring consumer safety by firms. Our next report tells more

HDFC Bank signs multi-year data and technology deal with Refinitiv

HDFC Bank will get comprehensive access to Refinitiv's data and products under the agreement, enabling cost savings across several bank divisions, the companies said in a joint statement.

Liquidity slides into deficit for first time in over 3 years: RBI data

Days of easy money over as credit growth rises

Idea is to generally link credit cards with UPI: RBI executive director

There was lack of clarity on whether the RBI will extend this facility to credit cards of other card networks, such as Visa, Mastercard, etc