Page 452 - Finance News
IT department sets up Taxpayers' Lounge at IITF till Nov 27
The Income Tax department on Sunday set up a 'Taxpayers' Lounge' at the India International Trade Fair, seeking to promote trust and fostering awareness.
 "IT department sets up Taxpayers' Lounge at IITF till Nov 27")
RBI clarifies norms for upgrading of accounts classified as NPAs
Asks lenders to mention exact due date for repayment in loan agreements
 "RBI clarifies norms for upgrading of accounts classified as NPAs")
Banks' core earnings face heat from poor credit growth, low yields on loans
Their gross interest income shrank for second consecutive quarter in Q2FY22 while their core earnings, or pre-provisioning profit, were down 1.5% YoY
 "Banks' core earnings face heat from poor credit growth, low yields on loans")
Retail direct, integrated ombudsman scheme will make country stronger: Modi
Through retail direct, an individual investor can directly invest in G-secs, in a system facilitated by the RBI, without any fees, and without the need for a fund manager
 "Retail direct, integrated ombudsman scheme will make country stronger: Modi")
Two RBI schemes launched by prime minister to deepen bond market: Experts
Two innovative, customer-centric schemes launched by Prime Minister Narendra Modi on Friday will result in deepening the bond market by broadening the base of investors, experts said
 "Two RBI schemes launched by prime minister to deepen bond market: Experts")
RBI Retail Direct Scheme: Individuals can now directly buy T-bills, G-Secs
Individuals can now directly purchase treasury bills, dated securities, sovereign gold bonds and state development loans from primary as well as secondary markets, thanks to RBI Retail Direct Scheme
 "RBI Retail Direct Scheme: Individuals can now directly buy T-bills, G-Secs")
Ombudsman scheme to provide cost-free redress of customer complaints: RBI
The Integrated Ombudsman Scheme, 2021, will provide cost-free redress of customer complaints involving deficiency in services rendered by entities regulated by the RBI
 "Ombudsman scheme to provide cost-free redress of customer complaints: RBI")
ATM cash withdrawals are coming back steadily, and so is deployment
ATMs to touch 365,000 by 2027, more in semi-urban, rural areas
 "ATM cash withdrawals are coming back steadily, and so is deployment")
Amid RBI's tough stance, what will be cryptocurrencies' fate in India?
RBI Governor Shaktikanta Das has again said that cryptocurrencies pose a threat to India's financial stability. Amid growing interest, what does the RBI's tough stance mean for virtual currencies?
 "Amid RBI's tough stance, what will be cryptocurrencies' fate in India?")
PM Modi to launch RBI's retail direct and integrated ombudsman schemes
Billed as gamechangers, the two schemes may go a long way in changing how the household sector invests and complains if anything goes wrong with their savings
Auto debit bounce rates drop further in October to touch pre-Covid levels
NACH data shows that of 86.6 mn transactions in October, 27 mn or 31.24% failed while 59.52 mn went through; In value terms, 24.83% of the transactions declined in October, lowest since Jan 2020
 "Auto debit bounce rates drop further in October to touch pre-Covid levels")
Moody's upgrades YES Bank's rating to B2; outlook 'positive'
Yes Bank's asset quality has deteriorated only modestly while its capital has remained stable
 "Moody's upgrades YES Bank's rating to B2; outlook 'positive'")
Collection efficiency for retail, SME loans improves to pre-Covid levels
Icra cites decline in fresh Covid-19 cases, accelerated vaccination and uninterrupted operations of finance and housing finance entities for the better show
 "Collection efficiency for retail, SME loans improves to pre-Covid levels")
BFSI Summit: Worst is behind, slippages may rise, say India's top bankers
Speaking on fintechs, the bankers said the right way to go about this is collaboration, but they may also have to compete with these players for their share of the pie
 "BFSI Summit: Worst is behind, slippages may rise, say India's top bankers")
Moody's upgrades YES Bank's rating by a notch; changes outlook to positive
The rating action is because of substantial improvement in funding and liquidity position
 "Moody's upgrades YES Bank's rating by a notch; changes outlook to positive")
Bank of Baroda Q2 net up 24% at Rs 2,088 cr on robust non-interest income
Non-interest income grew by 23 per cent to Rs 3,579 crore in Q2FY22 from Rs 2,910 crore in Q2FY21 a year ago
 "Bank of Baroda Q2 net up 24% at Rs 2,088 cr on robust non-interest income")
Bank of Baroda Q2 net profit up 24% at Rs 2,088 cr, asset quality improves
Net interest income rises 2% to Rs 7,566 cr
ICRA downgrades rating outlook on Bandhan Bank to 'negative'
Stress in small business loans triggers action
 "ICRA downgrades rating outlook on Bandhan Bank to 'negative'")
RBI to hold its first-ever hackathon, HARBINGER 2021, on payments system
The hackathon is inviting innovative ideas in the payment and settlement system, registration for which can be done till November 15
RBI lifts restrictions on Diners Club, allows onboarding of fresh customers
RBI had barred Diners Club from onboarding fresh customers from May 1 and said the restrictions would remain in place till the card issuer met RBI norms on local data storage