Page 385 - Finance News

Card data storage: RBI relaxes rules for checkout on guest transactions

Sticks to Oct 1 deadline for card tokenisation; acquiring banks permitted to store card-on-file data until January

Adani Capital planning IPO as soon as 2024 at $2-bn valuation: CEO

The Gautam Adani-backed NBFC is planning to raise at least Rs 1,500 cr through IPO, says MD & CEO Gaurav Gupta

Bank of Baroda hikes interest rates on fixed deposits below Rs 2 crore

The interest rate for deposits maturing in one year will fetch an interest rate of 5.30 per cent, up from the previous 5 per cent

RBI gives payment aggregators another window till Sep to apply for licence

PAs should have a minimum net worth of Rs 15 crore as on March 31, 2022

After PMC Bank, Wadhawans duped Indian Bank of Rs 279 crore

The Indian Bank has declared the Wadhawan father-son duo as 'Wilful Defaulters' for the sanctioned loan of Rs 197.60 crore, which has now grown to 278.80 crore, besides interest.

Eight PSBs join the account aggregator ecosystem ahead of deadline

The remaining four, which are in the testing phase, could be inducted soon

IDBI Bank sale: Clarity on sale glide path for buyers after EoI stage

Currently, the RBI guidelines require promoters to reduce their shareholding to 26 per cent in 15 years

Banking liquidity surplus shrinks on RBI's defence of rupee

GST outflows have also pushed up interbank cost of funds

Digital payments record 29% annual growth at March-end 2022: RBI data

The newly constituted RBI's digital payment index (RBI-DPI) stood at 349.3 in March 2022 as against 304.06 in September 2021 and 270.59 in March 2021

Q1 results: Private banks' net profit rises 47% on fall in provisions

Loan repricing, high loan growth buttress NII

Board-level engagement in banks on climate risk inadequate: RBI survey

The survey pointed out a majority of the banks did not have a separate business unit or vertical for sustainability and ESG-related initiatives

South Indian Bank net profit up 10-fold in Q1, asset quality improves

In Q1, South Indian Bank's gross advances saw a growth of 10.95 per cent compared to the same period last financial year

RBI MPC preview: Das and Co may hike repo rate by 25-50 bps in August

If the inflation remains above 6% on average for the next three months, the RBI will have to explain to the govt in writing the reasons for its failure to keep the rate of price rise in check

HDFC Bank opens special window offering 6.80% interest for NRE deposits

The window, which is available on Wednesday and Thursday, offers an annual rate of 6.80 per cent on NRE deposits worth Rs 2 crore to less than Rs 150 crore

Will UPI on credit cards take off?

The RBI has allowed the linking of RuPay credit cards with UPI. But it will also carry a merchant fee. Will UPI on credit cards take off? Or the merchant fee will spoil the party? Let's find out

RBI launches public awareness drive as unclaimed deposits increase

RBI is now encouraging people who have not claimed their deposits to reach out to the respective banks for such deposits

MPC likely to raise repo rate significantly in upcoming meetings: S&P

Says there is significant slack in the economy, as GDP is far below estimates of pre-Covid trajectory of potential output

Frauds reported by PSBs decline to Rs 3,204 cr in FY22: MoS Finance

In 2020-21, PSBs reported 4,680 fraud cases of Rs 7,306 crore, which declined to 2,369 cases corresponding to Rs 3,204 crore in 2021-22, he added.

CCI clears Axis Bank's proposed acquisition of Citi's consumer biz in India

Under the deal worth Rs 12,325 crore, announced on March 30, Axis Bank would take over Citi's credit cards, personal loans and wealth management businesses that are focused on the affluent segment.

Understanding Positive Pay System necessary to encash cheques from August 1

Several banks including BoB and SBI have issued notifications asking customers to register under PPS before August 1 to encash high-value cheques