Page 397 - Finance News

Amid geo-political risks, RBI mulls domestic processing of transactions

In its Payments Vision Document released last week, the RBI said keeping in view the emerging geo-political risks, options would be explored to ring-fence domestic payment systems

AU Small Finance Bank to invest over Rs 500 cr for IT, digital makeover

Sanjay Agarwal, managing director and chief executive, said the lender was in a growth phase and is spending to achieve digital ambitions

High inflation weighed on MPC members as RBI raised rate: Minutes

RBI Governor Shaktikanta Das said while high inflation continues to be the major concern, revival of economic activity remains steady and is gaining traction

What is a black swan event?

In a Reserve Bank of India paper, the authors allude to the risk of black swan event, saying that it may lead to outflows of Rs 7.8 trillion from India. What are black swan events? We explain it here

Yes Bank launches FD linked to repo rate, with mark-up of 1.1-1.6%

Lender also raises interest rates on standard FDs, capping them at 6.5% for regular customers, 7.25% for seniors

RBI extends date for implementing provisions on credit, debit card issuance

Issuers given more time for OTP-based activation, ensuring credit limit is not breached without cardholder's consent

HDFC Bank to shift payments from core banking, ensure minimal downtime

This would pave way for minimal payments downtime

DeFi can't hold a candle to the centuries-old trust-based system hawala

Decentralized finance needs to give up on its techno-anarchist utopia, and get more real and centralized. Otherwise DeFi lending will enter annals of finance as failure where hawala has been success

HDFC Bank to double network in 5 yrs; to add 1,500-2,000 branches annually

The bank proposes to nearly double its network of branches in the next three to five years by opening 1,500 to 2,000 branches every year: CEO Sashidhar Jagdishan.

RBI postpones implementation of certain norms related to cards by 3 months

Banks and non-banking financial companies (NBFCs) were to implement the Master Direction on 'Credit Card and Debit Card - Issuance and Conduct Directions, 2022' from July 1.

Non-banks not allowed to load credit lines on prepaid wallets, cards: RBI

This circular by the RBI is likely to impact those fintech players who offer credit lines to customers via their wallets in association with non-banking finance players.

What is the difference between an IPO and FPO?

An initial public offer (IPO) and a follow-on public offer (FPO) are two types of public issues available to investors. Here is a breakdown of the differences between the two.

LIC Housing finance hikes lending rate by 60 bps, home loans start at 7.5%

Says hike is in line with market scenario; rates are still very competitive and demand for home loans is to likely to sustain

FinMin asks PSBs to expedite NPA resolution; focus on credit growth

According to sources, banks were asked to sanction loans for productive sectors to accelerate the revival of the economy facing headwinds, including from the Russia-Ukraine war.

BoI to raise capital up to Rs 2,500 cr to comply with shareholding norm

Bank of India said the capital is to be raised during the period of one year from the date of passing of the resolution in one or more tranches.

How Indian, Russian banks plan to bypass sanctions to facilitate trade

In a bid to ensure smooth flow of trade without violating the West's economic sanctions on Russia, the Indian banks will open accounts with their Russian counterparts, and vice versa

Finance Ministry looks to bring major changes at Banks Board Bureau

The finance ministry, over the next couple of months, is planning to identify new members, restructure the bureau, and recommend new names to the appointments committee of the cabinet

YES Bank's plan to sell Rs 12,000-cr bad loans to ARC faces delay

RBI wants the bank to avoid any conflict of interest with the ARC as YES Bank plans to hold a minority stake in the same ARC

Small ticket, big business: Fintech firms see surge in instant loans

A recent report by CRIF High Mark has it that small-ticket personal loans contributed 50 per cent by volume in FY21

FM to meet heads of PSBs on Monday; may urge them for credit growth

The Finance Minister is said to take stock of credit growth, asset quality, and business growth plan of banks