Page 391 - Finance News

Major PSU banks to go live on account aggregator system by July-end

SBI and BoB are expected to go live by the deadline; PNB and Union Bank of India are already live on the ecosystem

RBI imposes Rs 1.7 cr penalty on Ola Financial Services for breach of norms

The penalty has been imposed in exercise of powers vested in RBI under Section 30 of the Payment and Settlement Systems Act, 2007

Banks' gross NPA at 5.9%, a 6-year low, likely to improve: CARE Ratings

Even though the gross non-performing assets (GNPA) of scheduled commercial banks in India has hit a six year low of 5.9 per cent in FY22, it can improve further, said CARE Ratings in a report

RBI approves Meena Hemchandra as part-time chairman of Karur Vysya Bank

Private sector lender Karur Vysya Bank on Tuesday said the Reserve Bank of India (RBI) has approved the appointment of former RBI executive Meena Hemchandra as part-time chairman of the bank

Banks may incur Rs 13,000 cr MTM losses in Q1 on rising bond yields: Icra

State-owned lenders, which hold large quantities if G-Secs, to face brunt of yield spike

Who are anchor investors?

Before a company hits the primary market, it will have to find anchor investors. So who are anchor investors and why are they so important in IPO's image building? Let us find out

SC verdict in Mallya case will enhance recovery prospects: Bankers

Beyond the case, the decision also has demonstrative effect for sternly dealing with other big-ticket defaults, two senior officials with large banks said in a first-cut assessment

RBI's move to settle trade transactions in rupee timely: Exporters

Exporters said the move was a step towards acceptance of rupee as an international currency.

Centre should privatise all PSBs, except State Bank of India: NCAER

First 2 banks for privatisation should be those with good asset quality and low NPA, says the report

Bank of Maharashtra bucks the trend, cuts MCLR by 20-35 basis points

The state-owned lender cut overnight and one-month MCLR by 25 bps to 6.90 per cent and 7 per cent

Bank of Baroda raises MCLR on select tenor loans by up to 15 basis points

State-owned Bank of Baroda has raised the marginal cost of funds based lending rate by up to 0.15 per cent for select tenor of loans with effect from Tuesday.

NBFCs, HFCs securitisation volume doubled to Rs 33k cr in April-Jun: Report

Securitisation volumes originated by Non-Banking Financial Companies (NBFC)s and Housing Finance Companies (HFC)s have almost doubled to around Rs 33,000 cr in the first quarter of the current year

What is the current account deficit?

Japanese brokerage Nomura recently said that India's current account deficit could widen to 3.3% of GDP in FY23 from 1.2% in the previous fiscal. But what is current account deficit? Let's understand

Centre likely to remove 10% shareholding cap for individuals in PSBs

Removal of threshold may allow PE firms to own over 10% stake in state-run banks

RBI clears payment aggregator licence for Razorpay, PineLabs & Stripe

Payment aggregators enable e-commerce sites and merchants to accept payment instruments from customers without the need for merchants to create their own payment integration system

Banks' Q1 net profit growth estimated at 47% as lending stays strong

According to Bloomberg's data on analysts' estimates, net profits of the 12 listed banks in Q1FY23 will grow 47 per cent YoY and shrink 7.8 per cent sequentially

RBI allows more FPI access to Indian bonds, but returns may not lure flows

Treasury officials believe the move may not work as rising interest rates abroad and high domestic inflation have eroded returns from Indian fixed-income assets

RBI imposes penalties on Federal Bank, BoI for non-compliance of norms

Reserve Bank of India (RBI) on Friday said it has imposed a penalty of Rs 5.72 crore on Federal Bank for deficiencies in regulatory compliance.

FinMin pegs US dollar value at Rs 79.90 for computing import duty

The Finance Ministry Thursday pegged the exchange rate for dollar at Rs 79.90 for calculation of import duty with effect from July 8, as against Rs 78.95 a fortnight ago.

RBI cancels licence of Shri Anand Co-operative Bank due to lack of capital

RBI on Thursday said it has cancelled the license of Shri Anand Co-operative Bank, Chinchwad, Pune as the lender does not have adequate capital and cannot pay its present depositors in full.