Page 407 - Finance News
RBI asks for option of interoperable card-less cash withdrawal at ATMs
NPCI advised to facilitate Unified Payments Interface (UPI) integration with all banks and ATM networks.
 "RBI asks for option of interoperable card-less cash withdrawal at ATMs")
RBI approves India, Sri Lanka trade settlement in rupee outside ACU
Regulatory nod only for State Bank of India's term loan of $1 billion for island nation battling economic crisis.
 "RBI approves India, Sri Lanka trade settlement in rupee outside ACU")
Sebi withdraws permanent recognition granted to Indian Commodity Exchange
Markets regulator Sebi on Thursday said it has withdrawn the recognition granted to the Indian Commodity Exchange Limited (ICEX).
 "Sebi withdraws permanent recognition granted to Indian Commodity Exchange")
RuPay cards are expanding footprint but domestic performance remains muted
RuPay transaction volumes rose marginally during the pandemic, value rose 40 per cent
 "RuPay cards are expanding footprint but domestic performance remains muted")
Bank credit grows 10.82%; deposits rise 9.71% in fortnight ended May 6: RBI
In FY22, bank credit rose by 8.59% and deposit by 8.94%
 "Bank credit grows 10.82%; deposits rise 9.71% in fortnight ended May 6: RBI")
Dhanlaxmi Bank's Q4 net profit jumps over four-fold to Rs 23 crore
Private sector lender Dhanlaxmi Bank on Thursday reported over four-fold jump in its net profit at Rs 23.42 crore in quarter ended March 2022, on fall in bad loan ratio as well as interest income
 "Dhanlaxmi Bank's Q4 net profit jumps over four-fold to Rs 23 crore")
RBI seeks option of interoperable card-less cash withdrawal at ATMs
NPCI has been advised to facilitate Unified Payments Interface integration with all banks and ATM networks, says RBI
 "RBI seeks option of interoperable card-less cash withdrawal at ATMs")
Punjab & Sind Bank Q4 net profit more than doubles to Rs 346 crore
Punjab & Sind Bank on Thursday reported an over two-fold jump in net profit at Rs 346 crore for the quarter ended March 2022, helped by a decline in bad loans.
 "Punjab & Sind Bank Q4 net profit more than doubles to Rs 346 crore")
MPC members argued for front-loading rate hikes in view of inflation
External member Jayanth Varma said 100 bps rate hike required 'very soon'
 "MPC members argued for front-loading rate hikes in view of inflation")
Flow of money into NRI deposits moderates to $3.23 bn in FY22: RBI data
Outstanding deposits have also gone down to $139.02 billion at the end of March 2022. This compares to $141.89 billion a year ago, according to Reserve Bank of India (RBI) data.
 "Flow of money into NRI deposits moderates to $3.23 bn in FY22: RBI data")
At $20 bn, RBI makes highest-ever dollar sales in spot markets in a month
The central bank has been intervening in all segments of the currency market, which has slowed the pace of rupee depreciation.
 "At $20 bn, RBI makes highest-ever dollar sales in spot markets in a month")
RBI opted for off-cycle rate hike to avoid tougher action in June: Das
The MPC 's external member Jayanth R Varma opined that more than 100 basis points of rate increases needs to be carried out very soon
 "RBI opted for off-cycle rate hike to avoid tougher action in June: Das")
UCO Bank appoints Sujoy Dutta as CFO; JK Bank gets govt nominee director
UCO Bank on Wednesday said it has designated Sujoy Dutta as the new chief financial officer with immediate effect.
 "UCO Bank appoints Sujoy Dutta as CFO; JK Bank gets govt nominee director")
India's inflation set to average at 9-year high of 6.9% in FY23: Ind-Ra
The average headline inflation is set to accelerate to a nine-year high at 6.9 per cent in FY23, and the Reserve Bank may go for more rate hikes during the fiscal, a domestic ratings agency said
 "India's inflation set to average at 9-year high of 6.9% in FY23: Ind-Ra")
Tamilnad Mercantile Bank's Q4 net rises 36%, total income increases 9%
Tamilnad Mercantile Bank's Q4 result: The total interest earned increased 6.23 per cent to Rs 3,833.86 crore for FY22 as compared to Rs 3,609.05 crore for the previous year
 "Tamilnad Mercantile Bank's Q4 net rises 36%, total income increases 9%")
Indian banks to benefit from strong domestic economic growth: Moody's
Ukraine conflict will not derail the country's recovery
 "Indian banks to benefit from strong domestic economic growth: Moody's")
RBI's criticism for 'delayed' rate hike unfair, says ex-Guv D Subbarao
The criticism that the Reserve Bank of India was behind the curve in hiking interest rate to tame rising inflation is unfair, former RBI Governor D Subbarao said on Wednesday
 "RBI's criticism for 'delayed' rate hike unfair, says ex-Guv D Subbarao")
Axis Bank hikes MCLR by 35 bps across tenors with effect from May 18
Recently, country's largest lender, State Bank of India (SBI), also increased its MCLR by 10 bps. SBI has hiked its MCLR by 20 bps in two months
 "Axis Bank hikes MCLR by 35 bps across tenors with effect from May 18")
On-tap licence: Sachin Bansal, five other applicants rejected by RBI
11 entities had applied for on-tap bank licences since the guidelines were released by the Reserve Bank of India
Merrill Lynch Fund sells 386,000 HDFC Bank shares for Rs 51 cr
Merrill Lynch India Equities Fund Mauritius Ltd on Tuesday offloaded 3.86 lakh shares at avg price of 1,306 per of private lender HDFC Bank for around rs 51 crore through open market transaction
 "Merrill Lynch Fund sells 386,000 HDFC Bank shares for Rs 51 cr")