Page 450 - Finance News
RBI leaves key rates on hold amid Omicron risks; analysts weigh in
The committee held the lending rate, or the repo rate , at 4%. The reverse repo rate, or the key borrowing rate, was also maintained at 3.35%
 "RBI leaves key rates on hold amid Omicron risks; analysts weigh in")
RBI leaves rates unchanged, says economy better prepared to deal with Covid
Central bank maintains FY22 GDP forecast at 9.5 per cent and projected retail inflation to be at 5.3 per cent.
 "RBI leaves rates unchanged, says economy better prepared to deal with Covid")
Measures taken to protect bona fide commercial decision of banks: FM
This is to alleviate the fear of any unwarranted hardships to officials or senior executives taking key decisions: FM
 "Measures taken to protect bona fide commercial decision of banks: FM")
PNB plans to raise up to Rs 2,000 cr through additional AT1 bonds
Bond dealers said the base size of the offering is for Rs 500 crore with a green shoe option of Rs 1,500 crore
 "PNB plans to raise up to Rs 2,000 cr through additional AT1 bonds")
RBI imposes curbs on Nagar Urban Co-op Bank, caps withdrawals at Rs 10,000
The restrictions, imposed through directions under the Banking Regulation Act (as applicable to co-operative societies), 1949, shall remain in force for a period of six months
Over 55% Jan Dhan account holders are women: Finance Ministry
There is no requirement to maintain any minimum balance in PMJDY accounts
 "Over 55% Jan Dhan account holders are women: Finance Ministry")
RBI MPC starts deliberations amid expectations of status quo in policy rate
The Reserve Bank's rate-setting panel began its three-day deliberations on Monday to decide the next monetary policy amid expectations that the central bank will maintain status quo on interest rate
 "RBI MPC starts deliberations amid expectations of status quo in policy rate")
Number of ATMs in country at over 213,000, says Finance Ministry
In addition to this, 27,837 White Label ATMs (WLA) were also installed by WLA operators up to September 2021
 "Number of ATMs in country at over 213,000, says Finance Ministry")
What explains the lure of pay-later cards like Slice and Uni?
New pay-later cards are making their way into people's wallets, who don't even have a credit history. Let us find out why these pay-later cards are catching up and what is luring people towards them
 "What explains the lure of pay-later cards like Slice and Uni?")
What are the types of bank accounts in India?
India has different types of bank accounts for different purposes. Find out the various types of accounts that can help you decide which one suits your requirements best
 "What are the types of bank accounts in India?")
RBI may wait and watch, say economists; status quo likely on all fronts
Bond market participants are factoring in a reverse repo hike
 "RBI may wait and watch, say economists; status quo likely on all fronts")
IT min asks bankers to create robust platform for easy credit availability
IT Minister Ashwini Vaishnaw exhorted the banking industry to create an innovative digital platform for providing quick and easy credit to MSMEs, small businessmen, and those at the bottom of pyramid.
 "IT min asks bankers to create robust platform for easy credit availability")
Microfinance business may attract closer scrutiny on the way it is done
The outstanding microfinance portfolio at Rs 236.1K crore as of June 2021 marks a seven per cent quarter-on-quarter de-growth and less than a per cent in year-on-year growth.
 "Microfinance business may attract closer scrutiny on the way it is done")
A new approach to identify bad loans is needed: Credgenics co-founder
The pile-up of bad loans is a pain point and the pressure is mounting, said Rishabh Goel
 "A new approach to identify bad loans is needed: Credgenics co-founder")
Tightening of norms may increase NBFCs' headline NPAs by one third: Ind-Ra
Tightening of norms may increase non-banking finance companies' (NBFCs) headline non-performing advances (NPA) by around one third, India Ratings and Research (Ind-Ra) said.
 "Tightening of norms may increase NBFCs' headline NPAs by one third: Ind-Ra")
RBI new norms likely to increase NBFCs bad loans by one-third: Study
Last month, the RBI had provided clarification on income recognition asset classification and provisioning (IRAC) norms for banks, NBFCs and All-India Financial Institutions
 "RBI new norms likely to increase NBFCs bad loans by one-third: Study")
India reaching out to many nations to leverage stack it has built: NPCI CEO
Speaking at the InFinity Forum, Dilip Asbe said there has to be a local or domestic stack because every country has its own complexities and diversities
 "India reaching out to many nations to leverage stack it has built: NPCI CEO")
Indian banks behind on digital adoption, it's time to wake up: Uday Kotak
Says banks must be able to feed huge data being churned out by the financial system into analytics and ML. Turnaround time must give an MSME clarity on a loan in minutes, if not seconds
 "Indian banks behind on digital adoption, it's time to wake up: Uday Kotak")
Need collective global action for effective regulation of tech: Sitharaman
Nirmala Sitharaman on Friday called for a "collective global action" for effective regulation of ever-changing technology and tech-driven payment systems.
 "Need collective global action for effective regulation of tech: Sitharaman")
Omicron scare may delay RBI plan to normalise accommodative monetary stance
The six-member monetary policy committee of the RBI will meet from December 6-8 to review the policy