Page 411 - Finance News

RBI Governor Shaktikanta Das to make unscheduled statement at 2 pm

The yield on 10-year benchmark bond spiked 9 bps to touch 7.2% after the news

Bank of Baroda cuts car loan rates by 25 basis points, trims processing fee

State-owned lender announces reducing processing charges to a flat Rs 1,500.

Fino Payments Bank holdco tweaks rule on voting day to eject bank chief

The resolution to reappoint Mahendra Kumar Chouhan and Punita Kumar-Sinha was voted down by 80% of shareholders, which included 100% of the promoter group

RBI board approves Rajiv Ranjan as MPC member after Mridul Saggar retires

Ranjan was an advisor in-charge in the monetary policy department, before he was elevated as an executive director.

LIC owns 4% of all listed stocks in India, more govt bonds than the RBI

LIC manages assets of Rs 39 lakh crores, or more money than the entire mutual fund industry combined.

Fino Payments Bank promoters vote against reappointing chairman, others

The resolution to reappoint Mahendra Kumar Chouhan and Punita Sinha was voted down by 80% of shareholders of Fino Payments Bank, which included 100% of the promoter group

UPI hits record high in April with 5.58 bn transactions worth Rs 9.83 trn

Value of transactions doubled on YoY basis

HDFC hikes home loan rates for existing customers by 5 bps effective May 1

This comes after many large banks, including SBI increased their marginal cost of funds-based lending rate by 5-10 bps

HDFC hikes retail prime lending rate on housing loans by 5 bps

HDFC's adjustable-rate home loans for customers with a credit score of above 750 will now be 6.75% versus 6.70% earlier

Banks, FIs will have to factor cross-holding norms for investing in LIC IPO

State-owned insurer is a significant investor in banks' capital, especially in public sector lenders.

Sebi tweaks operational guidelines for FPIs, depository participants

The new guidelines will be applicable from May 9, the Securities and Exchange Board of India (Sebi) said in a circular on Friday

YES Bank Q4: Lender logs Rs 367 cr as net profit, NII rises 84% YoY

Provisions fell significantly to Rs 271 crore in Q4FY22 compared to Rs 5,113 crore in the year-ago period.

PhonePe says Northeast region took lead in digital transactions in Q1

Assam witnessed the fastest adoption with over 2.5 lakh merchants in 2022 compared to just 10,000 merchants in 2020, followed by Tripura, Meghalaya, Arunachal Pradesh, Nagaland, Sikkim, and Mizoram

Centre, Sebi to discuss exempting LIC from public shareholding norm

The government is also not looking to dilute any further stake in LIC for at least a year

Non-food bank credit grew 9.7% in March, personal loans rose 12.4%: RBI

Loans to agriculture and allied activities continued to perform well, registering a growth of 9.9 per cent in the reporting month

Bank credit to industry turns around in FY22, infra lending tops Rs 1 trn

Credit to medium-sized industries grew a robust 71.4% in March 2022 from 34.5% last year, that to micro and small units was 21.5% (3.9%) and to large industries was 0.9% against contraction of 2.5%

IndusInd Bank Q4 net up 51% to Rs 1,401 cr on lower provisions, higher NII

Net interest income increased by 13% YoY and 5 per cent sequentially to Rs 3,985 crore

RBI issues norms for compensation key managerial staff at NBFCs

Finance companies need to set up nomination and remuneration committee, which will oversee the framing, review and implementation of compensation policy with board approval

RBL Bank to raise up to $100 mn through dollar denominated bonds

RBL Bank on Friday said its board has approved to raise up to USD 100 million by issuing US dollar denominated bonds.

IndusInd Bank standalone net jumps 55% to Rs 1,361 cr, gross NPAs dip

The bank's board announced a dividend of Rs 8.5 a share