Page 399 - Finance News

PFRDA plans to launch a guaranteed-return scheme in September 2022

Regulator looks to give three pension fund choices for each asset class in non-govt sector

Anand Mahindra, Venu Srinivasan, two others inducted in RBI board

Members are not involved in monetary policy, four of them will end their terms in August-September.

RBI pulls up banks for flouting norms on infra loans to govt entities

Must follow instructions in 'letter and spirit'

State govt borrowing turns expensive after RBI's repo rate hike

Much less raised than the indicated Rs 16,800 crore

SBI and IDBI Bank join trend, raise their interest rates on deposits

Interest rates on retail term deposits (below Rs 2 crore) of 211 days to less than one-year tenor have been increased by 20 bps to 4.6 per cent. It was 4.4 per cent earlier

CCI approves BC Asia Investments' acquisition in IIFL Wealth Management

Competition Commission of India on Tuesday approved the acquisition of the stake in IIFL Wealth Management (IIFLWM) by BC Asia Investments X Ltd.

Subscriber base of NPS, Atal Pension Yojana reaches 5.33 cr, says PFRDA

The total number of subscribers for National Pension Scheme (NPS) and Atal Pension Yojana (APY) stood at 5.33 crore as of June 4, PFRDA chairperson Supratim Bandyopadhyay said.

Fitch sees another 100 bps policy rate hike by Dec, cites rising inflation

Growth will improve in June quarter as consumption revives and Covid-19 cases continue falling, it says

SBI joins industry trend, hikes interest rates on retail and bulk deposits

The hike in deposit rates follows the rate action by Reserve Bank of India's (RBI) Monetary Policy Committee in the June monetary policy

Fitch expects RBI to raise interest rates to 5.9% by December-end

Fitch Ratings said the Reserve Bank is likely to raise interest rates further to 5.9 per cent by December 2022, on deteriorating inflation outlook

Charles Schwab subsidiaries to pay $187 mn to settle US SEC charges

SEC slams 'egregious' allocations of customer money that extracted 'hidden costs'

RBI's regulation review authority moots periodic review of existing rules

Also suggests that regulatory instructions should contain a statement of objective underlying the rationale for their issuance, supplemented with FAQs/guidance notes and illustrations

Failed auto-debit requests ease to a 38-month low in May, shows NACH data

'Improving bounce-rate trajectory suggests slippages, credit cost will descend in FY23'

'RBI much ahead in containing inflation but rate hike possible in Aug, Oct'

Core CPI also moderated in May to 6.09 per cent compared to 6.97 per cent in April, as per the SBI's research report 'Ecowrap'.

Extend GST compensation to states by 3-5 yrs more: Amit Mitra to Sitharaman

Unforeseen battle against pandemic has put states' fiscal health under huge stress, he says in letter to FM

HSBC sees slower rate hikes by RBI towards year-end on growth worries

HSBC is expecting the RBI to take repo rate to 6% by the middle of the next year, from 4.9% now

How credit card route to UPI may come at a price for merchants

Smaller merchants can be subsidised to make it work

What is global minimum corporate tax?

The global minimum corporate tax on MNCs was aimed at discouraging them from shifting profits to low-tax countries. But it will reduce the incentives to attract investment in developing countries

Dhanlaxmi sees a subdued EGM; financial concerns, rights issue discussed

The EGM was called by a group of minority shareholders unhappy with the workings of the bank and its financials

Stormy Dhanlaxmi EGM on cards today under a cloud of allegations and exits

The Dhanlaxmi Bank EGM has been called by a group of eleven minority shareholders unhappy with the working of the bank, and its financials