Page 444 - Finance News

Bank of Maharashtra slashes retail lending rates by up to 40 bps

The Pune-based lender's outstanding home loans stood at Rs 19,112 crore as of September 2021

Govt unlikely to announce capital infusion for PSU banks in Budget 2022-23

To augment their resources, banks would be encouraged to raise funds from the market and also by selling their non-core assets, they added.

RBI announces proposal to push UPI payments through feature phones

USSD 2.0, which facilitates UPI for feature phones, accounts for only 0.003 per cent of total UPI volumes and value transactions

Entire loss of PMC Bank being thrust on depositors: Sahakar Bharati to RBI

Repay PMC depositors' money in 5 years and pay at least 6% interest per annum, the umbrella body of co-operative organisations tells RBI

State Bank of India raises Rs 3,974 crore capital through AT1 bonds

Union Bank is likely to hit the market next week with AT1 bond issue of Rs 1,500 crore

Banks want more time to meet card-on-file tokenisation norms

Tokenisation is the process of replacing the debit and credit card numbers with a set of characters or tokens

RBI enforces 20-digit LEI for cross-border deals above Rs 50 crore

The Legal Entity Identifier (LEI) number is used to uniquely identify parties to financial deals worldwide to improve quality and accuracy of financial data systems

Monetary policy: Is the RBI MPC being too clever by half?

It can be argued, out of common sense, that those who desperately needed liquidity during the pandemic got it, which should prompt RBI to increase the repo rate by a small amount

Karur Vysya Bank to cut base rate, benchmark prime lending rate

Private sector lender Karur Vysya Bank Thursday said it will slash its base rate and benchmark prime lending rate to 7.75 per cent and 12.75 per cent, respectively, with effect from December 15, 2021.

Paytm Payments Bank gets RBI approval to operate as scheduled bank

After the announcement, Paytm's share price rose 2.62 per cent to close at Rs 1,594.55 apiece.

Nasscom makes recommendations to RBI on Card-on-File tokenisation

BIN ranges are required to identify if EMI is supported by a card network or not. BIN ranges also help in identifying routing of a transaction.

Top headlines: Farmers call off protest; WHO advisory on booster shots

Business Standard brings you the top stories on Thursday

Paytm Payments Bank receives scheduled bank status from RBI

With the scheduled bank status, the bank can explore new business opportunities

MFI sector improves after 2nd wave, caution needed on asset quality: Report

The microfinance industry showed an improvement in disbursements, asset quality and new loan inquiries in the September quarter, a report said on Tuesday

Inflation vs growth: Shaktikanta Das encounters old challenges in new term

Having kept the main interest rates steady on Wednesday, Das starts his next three-year term Dec. 11 with some in the bank already calling for unwinding the ultra-loose policies.

RBI policy has steps for more inclusive, affordable banking: PNB MD

The measures announced in RBI's bi-monthly monetary policy are steps towards a more conducive, affordable and inclusive banking, Punjab National Bank MD and CEO said

RBI monetary policy: MPC goes for normalisation by stealth

It is difficult to predict whether we will see a reverse repo rate hike in February or whether it will be held over until April

Monetary policy committee: RBI holds key rates to boost recovery

Repo rate unchanged at 4% and reverse repo at 3.35%

Need to ensure safety of CBDCs before introduction: RBI Governor

The main concern comes from the angle of cyber security and possibility of digital frauds, which merits more care before it is introduced, said RBI governor Shaktikanta Das

RBI to have on-device wallets in UPI apps for small-ticket transactions

RBI proposed an "on-device" wallet in UPI apps aiming to conserve banking systems' resources without changing the transaction experience for the user.