Page 424 - Finance News

Awaiting govt, RBI advisory on SWIFT transactions with Russian assets: PNB

The country's second-largest bank Punjab National Bank said it was awaiting advisory from the Finance Ministry and the Reserve Bank with regard to SWIFT-related transactions with Russian entities

Forex reserves decline by $1.425 bn on a dip in currency assets

The overall reserves had increased by USD 2.762 billion to USD 632.952 billion in the previous reporting week

NBFCs may see asset quality improve by up to 200 bps going forward: Crisil

RBI postponement of timeline for adhering to new NPA norms, greater economic activity likely to act as tailwinds, says rating agency

MPC hasn't compromised on price stability: RBI governor Shaktikanta Das

RBI governor says accommodative stance based on our domestic growth-inflation dynamics

Canara Bank raises Rs 1,000 cr through Basel-III compliant AT-1 bonds

The bonds carry coupon rate of 8.07 per cent per annum

Monetary policy is an art of managing expectations, says RBI Governor

Reserve Bank Governor Shaktikanta Das said "monetary policy is an art of managing expectations" as he emphasised the need for an effective communication strategy

Need for effective communication strategy to manage expectations: RBI Guv

RBI Governor Shaktikanta Das underlined the need for an effective communication strategy at the central banks, stressing that "monetary policy is an art of managing expectations".

Ukraine war, oil prices may force RBI to re-think rate hike cycle: Analysts

The Budget and RBI's last policy took a conservative estimate of crude prices $75 per barrel. This is likely to be a challenge going forward, economists say

Ukraine crisis: UCO, SBI meet RBI today on payments to Russian firms

The meeting between the banks and RBI comes amid reports that the government is exploring the option of reactivating the rupee-ruble trade between the two countries

Canara Bank raises Rs 1,000 crore in capital through AT1 bonds

Bond market sources said the interest in the paper by the Bengaluru-based lender was strong with a demand book size of 2.7 times

Urban cooperative banks get relief for investing in umbrella organisation

The banking regulator has exempted the UCBs from both the norms.

SBI stops transactions related to Russian entities under sanctions

'No transactions involving entities, banks, ports or vessels appearing on the US, European Union or UN sanctions list would be processed irrespective of the currency of the transaction'

E-Bill system will end 'rent seeking' in govt contracts: FM Sitharaman

Nirmala Sitharaman said the new Electronic Bill (e-Bill) processing system will stop any possible 'rent seeking' in the clearance of dues to contractors or suppliers of government departments.

State Bank of India's exposure to Russia, Ukraine less than $10 mn

Banks will get 10 days to complete the processing of payments to avoid near-term problems for businesses

RBI cancels licence of Sarjeraodada Naik Shirala Sahakari Bank, Sangli

With cancellation of the licence, Sarjeraodada Naik Shirala Sahakari Bank Ltd has ceased to carry on banking business with effect from the close of business hours on Wednesday

Union Bank of India raises Rs 1,500 cr through Basel-III compliant bonds

The bank has allotted unsecured, subordinated, non-convertible, taxable, perpetual, fully paid-up Basel III compliant additional tier-I bonds in the nature of debentures, aggregating to Rs 1,500 crore

Deepak Parekh resigns as non-executive chairman of HDFC Ergo

HDFC Ltd, which holds over 50% stake in HDFC Ergo, has nominated its Vice Chairman and MD Keki Mistry as non-executive chairman of the insurance firm

UCO Bank extends tie up with Fisdom; to offer demat, stockbroking services

State-owned UCO Bank has extended the fintech partnership with Fisdom to include demat account and stockbroking services, pension funds and tax filing

Banks concerned as trade settlements with Russia stall in face of sanctions

The extent of the payments that are stalled is not clear at the moment and RBI is trying to assess it

Canara Bank hikes fixed deposit rates by up to 25 basis points

The revised rates are effective from March 1, 2022, Canara Bank said in a statement