Page 402 - Finance News
Collection efficiency for NBFCs, HFCs at 97-101% in April: Report
The collections had seen a modest decline of about 3 per cent following the third wave of infections in January 2022, but the recovery was prompt, Icra Rating said in a report.
 "Collection efficiency for NBFCs, HFCs at 97-101% in April: Report")
PSBs to hold massive credit outreach drive across all districts tomorrow
Public sector banks will undertake a massive credit outreach drive on Wednesday and will entertain public queries on loan facilities and enrolment in government schemes
 "PSBs to hold massive credit outreach drive across all districts tomorrow")
RBI MPC meet: Question not whether to raise borrowing costs but by how much
With Wednesday's Monetary Policy Committee (MPC) decision following May's surprise 40 basis-point off-cycle hike, expectations have narrowed down to the size of increase to tame inflation
 "RBI MPC meet: Question not whether to raise borrowing costs but by how much")
SBI Card: Board approves raising up to Rs 2,500 crore through NCDs
The fund would be raised in one or more tranches, SBI Card said in a regulatory filing
 "SBI Card: Board approves raising up to Rs 2,500 crore through NCDs")
After a lull, NBFCs looking to step up funding for real estate sector
The strong demand in real estate -- residential, commercial, and logistics -- is giving confidence to the likes of JM Finance, Piramal, LIC Housing, and Indiabulls Housing Finance
 "After a lull, NBFCs looking to step up funding for real estate sector")
RBI lists rules for provisioning by NBFCs on advances to hsg, realty, SME
Rules apply to 'upper layer' of finance firms specifically identified by the central bank for enhanced regulatory requirements.
 "RBI lists rules for provisioning by NBFCs on advances to hsg, realty, SME")
No plan to replace Mahatma Gandhi on Indian currency notes, clarifies RBI
There were reports that the RBI might be considering using the images of Rabindranath Tagore and A P J Abdul Kalam on new-series currency notes
 "No plan to replace Mahatma Gandhi on Indian currency notes, clarifies RBI")
RBI's monetary policy to focus on macroeconomic stability
Since the last policy announcement, inflationary risks have increased significantly
 "RBI's monetary policy to focus on macroeconomic stability")
Sitharaman set to launch single nodal agency dashboard on Tuesday
SNA dashboard forms part of public financial management reform that was initiated in 2021 with regards to the manner in which funds for Centrally Sponsored Schemes are released, disbursed, monitored
 "Sitharaman set to launch single nodal agency dashboard on Tuesday")
First set of NPAs likely to be transferred to bad bank next month: FinMin
NARCL is a special purpose asset reconstruction company for taking over the large value NPA accounts (above Rs 500 crore) from banks.
 "First set of NPAs likely to be transferred to bad bank next month: FinMin")
Liquidity withdrawal expected as RBI set to hikes rates on Wednesday
RBI Governor Shaktikanta Das said late last month the bank's primary focus was to bring inflation down closer to target but it could not disregard concerns around economic growth
Canara Bank, Karur Vysya raise lending rates ahead of RBI's MPC review
State-owned Canara Bank has raised the marginal cost of funds based lending rate (MCLR) by 0.05 per cent of 5 basis points to 7.40 per cent for one year tenure
 "Canara Bank, Karur Vysya raise lending rates ahead of RBI's MPC review")
RBI's MPC starts 3-day deliberations amid speculation of rate hike
There are speculations that the central bank may go for at least 35 basis points (bps) hike over and above the 40 bps hike effected last month after an off-cycle MPC meeting
Hiccups over the last mile: Biz correspondent model may need overhauling
The BC model is essentially a regulator-led effort that not only aims to make financial services accessible through a branchless banking facility, but also supports the national agenda of job creation
 "Hiccups over the last mile: Biz correspondent model may need overhauling")
India's 10-yr bond yield hits 7.5%, highest since 2019 ahead of RBI policy
India's benchmark 10-year bond yield rose to its highest levels since March 2019 in early trade on Monday as investors prepared for around a 50-basis-point rate increase later this week
 "India's 10-yr bond yield hits 7.5%, highest since 2019 ahead of RBI policy")
Most economists see 50-bp repo rate hike: Business Standard policy poll
FY23 inflation projection may go above 6%; liquidity steps anticipated
 "Most economists see 50-bp repo rate hike: Business Standard policy poll")
After the rate hike
Policy will depend on RBI's inflation projection
Data puts Turkey's annual inflation rate at 73.5%, at a 24-year high
Annual inflation in Turkey hit 73.5 per cent in May, the highest rate since 1998, according to official data released on Friday as a cost-of-living crisis in the country deepens.
 "Data puts Turkey's annual inflation rate at 73.5%, at a 24-year high")
Reserve Bank of India penalises Punjab & Sind Bank over non-compliance
The Reserve Bank of India (RBI) added that the penalty is based on the deficiencies in regulatory compliance
 "Reserve Bank of India penalises Punjab & Sind Bank over non-compliance")
EPFO e-Passbook: How to download, check balance and other details
The current EPF interest rate is 8.1%
 "EPFO e-Passbook: How to download, check balance and other details")