Page 400 - Finance News
India to provide $55 mn economic support to Lanka for procuring fertiliser
With Sri Lankan famers waiting for fertiliser to start the Yala season, India has decided to extend a Line of Credit (LOC) of $55 million to Sri Lanka for the procurement of urea.
 "India to provide $55 mn economic support to Lanka for procuring fertiliser")
PMC Bank case fallout: RBI asks UCBs to make higher provisions
The RBI said the new circular has been warranted by the fact that UCBs have met the conditions already laid out
 "PMC Bank case fallout: RBI asks UCBs to make higher provisions")
Credit card linkage to UPI: Uncertainty over pricing leaves players in dark
There is no clarity on whether linking to UPI facility will be extended to credit cards of other card networks, such as Visa, Mastercard, American Express, etc
 "Credit card linkage to UPI: Uncertainty over pricing leaves players in dark")
Focus on sustainable business model, governance: RBI tells SFBs in meeting
SFBs were advised to continue to evolve in tune with the differentiated banking licence given to them with proportionate growth in their capital base.
Govt bond for Rs 33,000 crore sails through as RBI accepts bids
Signals central bank's comfort with yields
 "Govt bond for Rs 33,000 crore sails through as RBI accepts bids")
Govt likey to invite preliminary bids for IDBI Bank next month: Official
The official said while the quantum of stake dilution of both the government and LIC is yet to be decided, the management control in IDBI Bank will be transferred in the strategic sale
 "Govt likey to invite preliminary bids for IDBI Bank next month: Official")
High prices drag India discounts to 7-week low; China demand sluggish
High prices have slumped Indian discounts and the Chinese market has also remained unpromising for the time being
 "High prices drag India discounts to 7-week low; China demand sluggish")
Indian PSBs plan to exit Hong Kong as strict regulations, Covid woes pinch
State Bank of India (SBI) will likely be the only PSB in Hong Kong, alongside private sector banks ICICI and HDFC
 "Indian PSBs plan to exit Hong Kong as strict regulations, Covid woes pinch")
Payments Infrastructure Development Fund corpus touches Rs 811 crore
The contribution to the PIDF is made by the RBI, authorised card networks and card issuing banks. the RBI had made an initial contribution of Rs 250 crores to the PIDF
RBI policy effect: Loans to get more expensive as banks hike lending rates
ICICI, BoB take the lead; Kotak Bank ups deposit rates
 "RBI policy effect: Loans to get more expensive as banks hike lending rates")
Over 11.8 mn payment devices deployed across country till April : RBI data
More than 4.11 lakh PoS, mobile PoS and other physical devices were deployed across the country under the Payments Infrastructure Development Fund (PIDF) scheme as on April 30, 2022, the RBI said
Crisil launches new benchmark for investment vehicle aimed at the affluent
'Sub category' will help companies and clients in comparing various alternative investment funds.
 "Crisil launches new benchmark for investment vehicle aimed at the affluent")
With month to go for card-on-file tokenisation, firms set up solutions
Merchants and other entities that have stored card details of customers will have to purge the data and apply tokenisation
 "With month to go for card-on-file tokenisation, firms set up solutions")
Nirmala Sitharaman launches EASE 5.0 'Common reforms agenda' for PSBs
Enhanced Access and Service Excellence-EASE on Wednesday has evolved over four annual editions from FY19 to FY22 and has catalyzed reforms in diverse areas in Public Sector Banks
 "Nirmala Sitharaman launches EASE 5.0 'Common reforms agenda' for PSBs")
RBI is getting its way on policy rates. But how long will this last?
It will be interesting to see if Shaktikanta Das can keep his political masters in good humor. Or if his relationship with the government - like that of his two predecessors - will also start to fray
 "RBI is getting its way on policy rates. But how long will this last?")
Top headlines: Credit cards to be linked to UPI, rate hike to push up costs
The Reserve Bank of India (RBI) on Wednesday allowed linking of credit cards to Unified Payments Interface (UPI)
Rising interest rates could weigh on valuations of Indian stock markets
Exporters, and low debt, non-capital-intensive businesses should do better
RBI's rate hike to push up costs: Realty, capital goods companies
Ramani Sastri, chairman and managing director (MD) of real estate firm Sterling Developers, said interest rates impact the cost of doing business
 "RBI's rate hike to push up costs: Realty, capital goods companies")
'We expect a hike in deposit rates', says RBI Governor Shaktikanta Das
'With regard to breaching the inflation target framework, we will deal with it as and when the situation arises'
 "'We expect a hike in deposit rates', says RBI Governor Shaktikanta Das")
Most e-lending apps not registered with RBI: Governor Shaktikanta Das
The RBI website has a list of apps that are registered with it on the website, the governor said
 "Most e-lending apps not registered with RBI: Governor Shaktikanta Das")