Page 442 - Finance News
Plea in HC to direct RBI to make policy on Rs 50 coin for visually impaired
A plea has been filed in the Delhi HC seeking direction to the Centre and RBI to formulate a policy to issue Rs 50 coins to the visually impaired.
 "Plea in HC to direct RBI to make policy on Rs 50 coin for visually impaired")
India is mulling changes in law to cut govt's stake in banks: Report
The proposals -- if approved -- would allow the government to gradually lower its holding in state-run lenders to 26% from 51% without diluting its grip on management appointments, say sources
 "India is mulling changes in law to cut govt's stake in banks: Report")
Reserve Bank of India red-flags cryptocurrency risks in board meet
Officials say introduction of CBDCs will obviate need for private cryptos
 "Reserve Bank of India red-flags cryptocurrency risks in board meet")
ICICI Bank raises Rs 5,000 crore through 10-year bonds
Compared to private sector entities, public sector-owned firms are able to get 5-10 basis points finer rates
 "ICICI Bank raises Rs 5,000 crore through 10-year bonds")
NaBFID to start lending operations in Q1FY23, says Chairman K V Kamath
The DFI would have a chairman, two government nominees, and four whole-time directors, says Kamath
 "NaBFID to start lending operations in Q1FY23, says Chairman K V Kamath")
IFSCA sets up panel for creating framework for transfer of stressed loan
The International Financial Services Centres Authority on Friday sets up a committee for creating a framework for transfer of stressed loans from domestic lenders to financial institutions in IFSC.
 "IFSCA sets up panel for creating framework for transfer of stressed loan")
Two-day bank strike ends; banking operations hit across Maharashtra
Banking operations across Maharashtra remained impacted for the second straight day on Friday as employees of state-run lenders continued their two-day strike against bank privatisation
 "Two-day bank strike ends; banking operations hit across Maharashtra")
Union Bank of India raises Rs 1,500 crore via Basel-III compliant bond
State-run Union Bank of India has raised Rs 1,500 crore by issuing Basel III compliant bonds on a private placement basis.
 "Union Bank of India raises Rs 1,500 crore via Basel-III compliant bond")
Bank strike continues for second day, services hit at many places
Banking services across Tamil Nadu remained hit for the second day on Friday with employees union staging a protest against the proposed privatisation of nationalised banks by the government
 "Bank strike continues for second day, services hit at many places")
Credit card users spent Rs 39,000 cr on digital payments in 2021: Report
Expenditure on food and utility bills remained consistent during all months while food and beverages saw high spending after the lockdown restrictions were eased from July to October
 "Credit card users spent Rs 39,000 cr on digital payments in 2021: Report")
RBI's push towards card security likely to hit merchants, lenders: Report
Merchants and bankers argue they have not been given enough time to comply with the changes that RBI wants to make effective Jan 1, 2022
Bank strike continues for second day; services across Bengal hit
Banking operations in West Bengal were severely affected for the second consecutive day as lakhs of employees and officers of public sector lenders continued their nationwide strike
 "Bank strike continues for second day; services across Bengal hit")
India's largest lender SBI increases benchmark lending rate by 0.1%
State Bank of India (SBI) has increased benchmark lending rate or base rate by 0.1 per cent, a move that may be followed by other lenders.
 "India's largest lender SBI increases benchmark lending rate by 0.1%")
RBI refuses to relax asset classification, provisioning norms for NBFCs
This will give rise to bad debt numbers of such para banks on technical grounds while making asset quality norms standardised across banks and NBFCs
 "RBI refuses to relax asset classification, provisioning norms for NBFCs")
Rupee gains, bond yields stable after US Fed keeps policy rates unchanged
The rupee closed at 76.09 a dollar, up from its previous close of 76.23 a dollar
 "Rupee gains, bond yields stable after US Fed keeps policy rates unchanged")
Need to harmonise rules on taxation and recovery for NBFC too: FIDC
Urges govt to exempt TDS on interest payment made to NBFCs, as in the case of banks and life insurers
 "Need to harmonise rules on taxation and recovery for NBFC too: FIDC")
PhonePe is first payments firm to tokenise cards on Visa, Mastercard, Rupay
The company claims the tokenisation solution will help businesses save significant time and effort by removing the need to integrate with multiple card networks while complying with RBI norms
 "PhonePe is first payments firm to tokenise cards on Visa, Mastercard, Rupay")
Banking services impacted as 900,000 employees go on two-day strike
Staffers take out marches in protest against privatisation of public sector banks; a few customer service centres kept functional
 "Banking services impacted as 900,000 employees go on two-day strike")
RBI fines ICICI Bank Rs 30 lakh and PNB Rs 1.8 cr for non-compliance
RBI found non-compliance on part of ICICI Bank with directions related to levy of charges for non-maintenance of minimum balance in saving accounts
Scheduled payment banks, SFBs to do government agency business: RBI
Bank executives said this is step to broad-base set up and enhance quality of service for government business
 "Scheduled payment banks, SFBs to do government agency business: RBI")