Page 408 - Finance News

RBI opens banks credit for NBFCs to on-lend continuously to priority sector

Bank credit to NBFCs, including HFCs, will be allowed up to an overall limit of 5% of an individual banks total priority sector lending

RBI restricts withdrawals from Maharashtra's Shankarrao cooperative bank

The RBI, in a statement, said the restrictions will remain in force for a period of six months from the close of business on May 13, 2022 and are subject to review

AU SFB shares jump 6% after MSCI includes stock in global indices

Four domestic stocks added, one excluded from MSCI Standard index

Poonawalla Fincorp's logs Q4 consolidated net profit of Rs 119 cr

The company's housing finance subsidiary proposes to raise growth capital

PNB to bring down NPAs, ensure high loan recoveries: Atul Kumar Goel

The lender declared its January-March earnings Wednesday, and posted a drop in its gross NPAs to 11.78 per cent from 14.12 per cent reported a year ago

Lines of credit extended to Sri Lanka may go through rough patch: Exim Bank

Export Import Bank of India (Exim Bank), however, said there is no overdue payment from the Sri Lankan government as of now

Exim Bank planning to enter factoring biz this fiscal: CEO Harsha Bangari

The factoring business will focus on export financing and will target the entire MSME players

IPO-bound Navi appoints Meesho founder Vidit Aatrey as independent director

Sachin Bansal-led Navi Technologies on Thursday said it has appointed Vidit Aatrey, the founder of social commerce platform Meesho, as an independent director on its board.

India's economic growth to slow if RBI hikes interest rates: Finance Secy

T V Somanathan was reacting to reports of RBI likely raising its inflation projection for the current fiscal year at its June monetary policy meeting

Sebi mulling framework to encourage more ETFs in debt segment: Ananta Barua

Sebi's Wholetime Member Ananta Barua said Sebi is also looking at implementing other measures as announced in the annual budget by Finance Minister Nirmala Sitharaman.

Canara Bank to invest Rs 1,000 cr for building digital banking backbone

Canara Bank is planning to come up with its super-app next month which is yet to be named.

PNB Q4 results: Standalone net profit declines 66% to Rs 201 crore

Lender sets aside Rs 325 crore to provide for fraud

Canara Bank to invest Rs 1,000 crore to build digital banking backbone

The bank will unveil its super app next month

Deadline for Reliance Cap resolution plans extended till June 30: Report

So far only eight out of 54 Prospective Resolution Applicants (PRAs) have engaged with lenders of the bankrupt firm.

Quoting PAN or Aadhaar must for deposit or withdrawal of Rs 20 lakh or more

CBDT said furnishing the PAN or Aadhaar will be mandatory for such high-value deposits or withdrawals from banks, or opening of a current account or cash credit account with a bank or post office

Sebi notifies rules in order to strengthen regulatory framework for CIS

To strengthen the regulatory framework for collective investment schemes, markets regulator Sebi has enhanced the net worth criteria and track record requirements for entities managing such schemes.

Cube Highways Trust to raise Rs 12,075 cr debt to prepay old loans

Existing loans pertain to 17 projects; firm proposes to 18 toll road assets and one annuity road asset from the sponsor Singapore-based Cube Highways group

NBFCs cannot be regulated by state enactments, says Supreme Court

The top court said it was of the considered opinion that the Kerala Act and the Gujarat Act will have no application to NBFCs registered under the RBI Act and regulated by RBI

SBI board approves $2 bn fund raise in FY23 in single or multiple tranches

The funds will be raised via a public offering and/or on private placement basis

SBI hikes bulk deposits rates by 40-90 bps, with immediate effect

All deposits more than 3 years to earn 4.5% rate of interest;m Bajaj Finance increases FD rates by 10 bps