Page 438 - Finance News

What is Fiscal Deficit?

Equity markets will have a reason to cheer if the government reins in its fiscal deficit target at 6.25% of gross domestic product, a recent survey claimed. Find out how the government manages it

Digital payments see rapid growth in March-September, says RBI

The index, launched by RBI in Jan, has five broad parameters that enable the measurement of deepening and penetration of digital payments in the country over different time periods

RBL Bank to seek PE funding amid concerns over financial health: Report

The bank is looking to raise as much as Rs 1,500 crore in 'confidence capital', say sources

What is Balance of Payments (BoP)?

The equity markets have grown exponentially since the 1991 liberalisation. But in 1991, India was in the midst of its worst balance of payments crisis ever. Find out more about balance of payments

SIDBI sanctions Rs 650-crore loan to AU SFB and Jana SFB

An amount of Rs 530 crore has already been released to these SFBs

RBI seeks details of NBFCs' 'buy now, pay later' deals with e-tailers

It may be recalled that the RBI's Financial Stability Report of December 2021 had called attention to the retail credit growth model confronting headwinds

Kotak Pre-IPO Opportunities Fund raises Rs 2,000 cr, closes maiden offering

The fund has already made investments worth Rs 653 crore in five deals and has another Rs 405 crore worth deals are in various stages of execution

India Post Payments Bank customer base crosses 50 mn-mark

Reaching to 50 mn customers in a short span of 3 years speaks of success of this model of providing cost - effective, easy and secure digital ecosystem, says Vineet Pandey, Secretary, Dept of Posts

Citigroup hires 5,500 young staff in Asia, ahead of 2023 target

Consumer banking operation has taken up 48% of the overall hires, followed by 31% for the institutional businesses with the remainder in support functions

Yield on new 10-yr paper hardens by 8 bps over RBI cut-off point

The closing yield for the 2032 govt bond was 6.62% on Monday; RBI cut-off at auction was 6.54%

Banks pitch for reduction of tax-free fixed deposit tenure to 3 years

Banks have made a case for lowering fixed deposit (FD) tenure to three years for availing tax benefits, in line with mutual fund products like equity-linked savings scheme (ELSS)

Banks struggling to deal with increasing fraud incidents amid Covid: Survey

This trend is expected to continue, with 78% respondents stating that frauds could increase over the next two years, says Deloitte survey

DCB Bank appoints Rupa Devi Singh as chairman after Munjee's retirement

Munjee was the chairman of the bank since August 2005.

What are Treasury Bills or T-Bills?

How does the government raise funds to meet its obligations, in excess of its annual revenue generation? Well, it issues Treasury Bills or T-Bills. This report tells us more about it

Private lender HDFC Bank issues record credit cards in third quarter

According to RBI data, at the end of August 2021, HDFC Bank's outstanding credit card base stood at 14.74 million

PMC Bank merger with Unity Small Finance Bank awaits govt approval

The proposed merger of debt-ridden Punjab and Maharashtra Cooperative Bank with Unity Small Finance Bank is being examined and the process of amalgamation will start after the government approval

RBL Bank to rope in EgonZehnder, NARCL chairman for CEO search

At present, Rajeev Ahuja, an executive director at bank, is acting as interim MD & CEO after Vishwavir Ahuja, proceeded on medical leave in December 2021

SBI hikes interest rates on fixed deposits by up to 10 basis points

State Bank of India, the country's largest lender, on Saturday increased interest rates on fixed deposit (FD) by upto 10 basis points or 0.10 per cent.

HDFC Bank's Q3 net profit rises 18% to Rs 10,342 cr

Net interest income jumps 13% to Rs 18,443.5 crore in Q3FY22, backed by a 16.5% growth in advances

HDFC Bank Q3 results: Net profit rises 18% to Rs 10,342 cr

The lender's net interest income, the difference between interest earned and interest expended, grew by 13% to Rs 18,443.5 cr in Q3FY21