Page 456 - Finance News
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
 "PM Modi to launch RBI's retail direct and integrated ombudsman schemes")
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
Indian Bank launches video KYC facility enabled by VCIP technology
The Video KYC facility further simplifies the subsequent steps and would deliver the cheque book and ATM card to the registered address of a customer
 "Indian Bank launches video KYC facility enabled by VCIP technology")
HSBC explores India private banking re-entry 6 years after calling it quits
HSBC exited the Indian private banking business in 2015 as part of a group strategy. The lucrative but very competitive Indian market has few foreign players
 "HSBC explores India private banking re-entry 6 years after calling it quits")
BFSI Insight Summit: Why should we not seek subsidy, ask panelists
Say customer engagement has been one of the pain points for insurers, historically
 "BFSI Insight Summit: Why should we not seek subsidy, ask panelists")
SBI Card to raise Rs 2,000 cr by issuing bonds on private placement basis
SBI Cards and Payment Services (SBI Card) on Monday said it will raise Rs 2,000 crore by issuing bonds on a private placement basis
 "SBI Card to raise Rs 2,000 cr by issuing bonds on private placement basis")
Buy now, pay later set to surge over ten-fold in India within four years
Redseer estimates India's BNPL market will rocket to $45-50 billion by 2026 from $3-3.5 billion now
 "Buy now, pay later set to surge over ten-fold in India within four years")