Page 41 - Finance News

Firstsource Solutions appoints Kumaran Shanmuhan as Chief Strategy Officer

The appointment is a step in advancing Firstsource's 'UnBPO vision', which the company described as transformative reimagining of outsourcing driven by expertise and technology

UCO Bank gets govt approval to facilitate trade payments for Nayara Energy

Rosneft owns just over 49% of Nayara, which accounts for nearly 8% of India's refining capacity and 7% of its retail-fuel network

Crisil pegs FY26 bank credit growth at 12%, flags MSME loan stress

Retail credit will drive growth in loan books for banks in FY26, and corporate loans growth will be slower in the fiscal year, the agency said

NPCI proposes UPI-based cash withdrawals with ₹10,000 cap at BC outlets

NPCI has sought RBI approval to enable UPI-based cash withdrawals of up to ₹10,000 at business correspondent outlets, expanding beyond ATMs and select merchants

Banks step up focus on fee-based income; treasury gains come under pressure

Further, bankers said that there is still room to reduce rates on term deposits, and bulk deposit rates have already declined

Fintechs offer secured lending with instant loans against mutual funds

Fintechs including PhonePe, Paytm, BharatPe, and Cred roll out loans against mutual funds, offering instant, fully digital secured credit at lower capital costs for investors

Insurance Amendment Bill likely in Winter session, says FM Sitharaman

The finance minister, in this year's Budget speech, proposed to raise the foreign investment limit to 100 per cent from the existing 74 per cent in the insurance sector

PSBs must emerge as global champions in Viksit Bharat 2047 vision: DFS Secy

The two-day programme, organised by DFS, brought together top policymakers, regulators, technologists and banking practitioners

India home prices to soar in 2025 as affordable housing deficit grows

Home prices in India are forecast to rise faster in 2025, driven by wealthy buyers, while a shortage of affordable homes pushes millions into costly rentals, a Reuters poll showed

Corporate bond primary market shows revival after two-month slowdown

Corporate bond issuances pick up as market stabilises; big players like Aditya Birla Capital, Bajaj Finance, and Tata Capital tap debt amid strong liquidity and easing yield worries

Call for paring govt stake in public sector banks, greater board autonomy

The discussion also touched upon the objective of ensuring that at least two public sector banks feature among the world's top 20 banks

ED claims MNC firms gained from fake input tax credit scam worth crores

The raids were undertaken in connection with a multi-crore fake ITC fraud following registration of a case under the Prevention of Money Laundering Act (PMLA), it said in a statement

Overleverage in retail loans is a concern, warns JFSL chairman Kamath

K V Kamath warns of overleverage in retail credit as fintechs lend at low scores; RBI data shows rising defaults in unsecured personal loans

Banks park ₹1.5 trillion at RBI's three-day VRRR liquidity auction

Banks placed Rs 1.5 trillion in RBI's three-day VRRR auction as surplus liquidity hit Rs 2.85 trillion, with WACR firming to 5.43 per cent from 5.35 per cent

Indian banks' dividend payouts may fall by 4.2% in FY26, says S&P

S&P Market Intelligence expects Indian banks' dividend pay-outs to decline 4.2% in FY26 as margins and profits weaken, with HDFC Bank and Bank of Baroda set to cut dividends

Exporters, industry bodies knock on RBI's door for US tariff buffer

Exporters and industry bodies sought RBI relief including moratoriums, relaxed NPA norms, and REER settlements to counter the impact of 50 per cent tariffs by the US

Finance firms may keep cornering mkt share from banks: S&P Global Ratings

S&P Global Ratings expects NBFCs to expand loan books at 21-22% in two years, outpacing banks' 11-12% growth, with India's household leverage set to rise to 31% by FY30

NaBFID to submit infrastructure financing report to DFS within 15 days

NaBFID will consult stakeholders and submit a report to the Department of Financial Services in 15 days after a meeting chaired by DFS Secretary M Nagaraju with top banks and DFIs

Climate finance crucial, India needs $10 trn for net zero: Bhupender Yadav

Yadav said such high-integrity carbon markets, based on transparency and clear accounting, can channel billions into climate action that would otherwise not be financed

Rupee plunges 36 paise to close at all-time low of 88.47 against US dollar

Forex traders said a recovery in the US dollar ahead of the inflation data and foreign fund outflows further dented investors' sentiments