Page 427 - Finance News

LIC IPO applications: Banks told to raise UPI per-transaction cap

A specially created working group found processing of many applications failed if UPI was selected as a mode of payment by retail investors due to per transaction caps imposed by banks

RBI move to defer revised NPA norms eases provision burden in Q4

RBI's decision to defer the implementation of revised NPA norms by six months for finance companies will save them from the burden of making additional provisions

Sa-Dhan introduces credit assessment framework for microfinance borrowers

Sa-Dhan, a self-regulatory organisation for the microfinance sector, Thursday said it has introduced the credit assessment framework (CAF) for microfinance borrowers.

HFCs' bad loans jump by 70 bps following new asset quality norms: Report

RBI had on November 12, 2021, introduced tighter asset quality reporting norms for all lenders, which brought in housing financiers and NBFCs on par with commercial banks

India Ratings upgrades outlook on banking sector to 'improving' for FY23

Key financial metrics are likely to continue to show improvement in FY23, backed by strengthened balance sheets, an improving credit demand outlook and expected commencement of corporate capex cycle.

Banks told to tighten monitoring, have ironclad KYC to avoid new 'Jamtara'

Banking sources indicate there have been brazen violations of Section 17 of the RBI's Master Direction on KYC norms

Govt to initiate investor outreach for IDBI Bank sale from Feb 25

The roadshows for the strategic disinvestment of IDBI Bank will be held virtually as investors are not keen on physical meetings due to pandemic fears.

CreditAccess Grameen gets board approval to raise up to Rs 5k cr via debt

Microfinance lender CreditAccess Grameen on Wednesday said its board has approved a proposal to raise up to Rs 5k crore through debt securities and an additional $7.4 million by issuing masala bonds.

NBFCs get extra 6-months to keep system ready to implement NPA norms

In November 2021, RBI had given time till March 31, 2022 to implement the rule

RBI unlikely to hike rates till Aug, despite rising inflation: Report

Despite retail inflation rising to 6.01% in January, and likely to remain elevated till April, a foreign brokerage report expects RBI to leave key policy rates unchanged during the first half of 2022.

What does the country's largest IPO of LIC mean for investors and govt?

After two years of preparation, the govt on Sunday approached SEBI to sell 5% stake in Life Insurance Corporation through Initial Public Offering. It expects to collect Rs 60,000 cr through this move

Axis Bank set to buy Citigroup's India retail unit for $2.5 bn: Report

The Indian lender emerged as the buyer after beating out rivals, with factors such as job security for current Citigroup employees and competition.

RBI DG Rabi Sankar asks for complete ban on cryptocurrencies in India

'We have examined arguments by those advocating cryptos should be regulated, and found that none of them stand up to basic scrutiny,' says RBI Deputy Governor

Banning crypto is perhaps the most advisable choice open to India: RBI DG

Cryptocurrencies are akin to Ponzi schemes or even worse and banning these is the most sensible option for India, the Reserve Bank of India's deputy govenor said on Monday.

Govt, RBI in complete harmony on cryptocurrencies, says FM Sitharaman

Finance Minister Nirmala Sitharaman said discussions with regard to private cryptocurrencies and central bank-backed digital currency have been going on with the Reserve Bank

Asset quality issues to affect realty-focused non-banks till FY23: Study

The real estate AUM of non-banks contracted by 17.64 per cent to Rs 2.8 lakh crore as of March 2021 from Rs 3.4 lakh crore as of March 2019

Discussions on with RBI over digital currency: Finance Minister Sitharaman

Sitharaman in her Budget speech on February 1 had announced that Digital Rupee or Central Bank Digital Currency (CBDC) would be issued by the RBI in the coming fiscal year

What is sin tax? What is it imposed on?

Govts earn revenue by charging taxes. But, it also imposes a special tax to wean people off bad habits. It is called sin tax. Govts impose sin tax on alcohol and tobacco products

ICICI Bank's Sandeep Bakhshi is Business Standard Banker of the Year

5-member jury chooses him for turning around the private sector lender

Centre may not go for 60% borrowing in the first half of FY23

Rethink on proportion on back of Fed tightening, high oil prices