Page 461 - Finance News
RBI imposes Rs 1 crore penalty on State Bank of India
'This action is based on the deficiencies in regulatory compliance,' says RBI
 "RBI imposes Rs 1 crore penalty on State Bank of India")
RBI says longer policy support is needed for sustained economic recovery
Earlier this month, RBI monetary policy committee kept interest rates steady at record lows and reiterated the need to unwind pandemic-era stimulus only gradually
 "RBI says longer policy support is needed for sustained economic recovery")
SBI raises Rs 6,000 crore by issuing Basel III compliant bonds
The country's largest lender SBI on Monday said it has raised Rs 6,000 crore by issuing Basel III compliant bonds
Cash going to co-exist with central bank digital currency: Subbarao
Former RBI governor D Subbarao on Monday said there is a strong motivation for the central bank to launch a digital currency and cash is going to coexist with the new-age currency
 "Cash going to co-exist with central bank digital currency: Subbarao")
Average cost for state debt across states plunges 27 bps to 6.72%
Weighted average cost of borrowing across states has plunged 27 bps to 6.72 per cent from the previous week, but weighted average yield of the most-traded 10-year debt was unchanged at 6.97 per cent
 "Average cost for state debt across states plunges 27 bps to 6.72%")
Sri Lanka seeks $500 million loan from India for fuel purchase
The move came few days after energy minister Udaya Gammanpila warned that the current availability of fuel in the country can be guaranteed only till next January.
 "Sri Lanka seeks $500 million loan from India for fuel purchase")
Improved affordability, lowest-ever interest rate pushing home loan demand
Favourable demographics, improved affordability of residential properties and historically low mortgage rates are pushing the demand for home loans, mortgage lenders said.
 "Improved affordability, lowest-ever interest rate pushing home loan demand")
India to remain accommodative in its monetary policy: RBI governor
India is witnessing a very robust economic recovery, but there is still unevenness across sectors, RBI Governor Shaktikanta Das said
 "India to remain accommodative in its monetary policy: RBI governor")
IL&FS seeks NCLT approval to place Rs 4,000 crore of assets in InvIT
With the NCLT approval, a total of 11 projects would be ready for monetisation through the InvIT route
 "IL&FS seeks NCLT approval to place Rs 4,000 crore of assets in InvIT")
UCO Bank chief A K Goel is new IBA chairman, succeeds Union Bank MD
Banks Board Bureau had, in September, proposed Goel's for the forthcoming position of MD-CEO at Punjab National Bank. Centre to take final call on the appointment
 "UCO Bank chief A K Goel is new IBA chairman, succeeds Union Bank MD")
Unity Small Finance Bank plans to tap 100 million Payback users
The proposed business model is one of collaboration and open architecture
 "Unity Small Finance Bank plans to tap 100 million Payback users")
PNB HF scraps Rs 4K-crore deal with Carlyle-led group of investors
Protracted litigation, uncertainty reasons for move: Firm
 "PNB HF scraps Rs 4K-crore deal with Carlyle-led group of investors")
RBI clears re-appointment of Amitabh Chaudhry as MD of Axis Bank
The Reserve Bank on Thursday approved re-appointment of Amitabh Chaudhry as managing director of private sector Axis Bank for a period of three years.
 "RBI clears re-appointment of Amitabh Chaudhry as MD of Axis Bank")
Securitisation volume more than doubled to Rs 50,000 cr in H1 FY22: Report
Securitisation volume more than doubled to Rs 50,000 crore in the first half of the current fiscal year, Crisil Ratings said in a report.
 "Securitisation volume more than doubled to Rs 50,000 cr in H1 FY22: Report")
Contenders for Citibank's retail arm still in due diligence stage
Lender may take time till December to finalise a buyer, no shortlist made so far, says a source
 "Contenders for Citibank's retail arm still in due diligence stage")
Atleast 50% of retail, MSME loans to move to digital lending: Union Bank MD
Close to 50 per cent of retail and MSME loans offered by banks will shift to digital lending platforms over next two to three years, Rajkiran Rai G said on Thursday.
 "Atleast 50% of retail, MSME loans to move to digital lending: Union Bank MD")
PMC Bank fraud case: HC rejects Rakesh Wadhawan's medical bail plea
The Bombay High Court refused to grant bail on health grounds to jailed businessman Rakesh Wadhawan, accused of money laundering in the multi-crore PMC Bank fraud case
 "PMC Bank fraud case: HC rejects Rakesh Wadhawan's medical bail plea")
India on course for open access in its markets: RBI deputy governor
RBI deputy governor T Rabi Sankar said there was an effort to liberalize foreign portfolio investor flows into Indian debt further with the introduction of the Fully Accessible Route
 "India on course for open access in its markets: RBI deputy governor")
Dish TV board cites rules, rejects YES Bank's demands to hold EGM
The lender, which holds 25.93% stake stake in Dish TV, had sought the removal of the firm's directors Jawahar Lal Goel and four others, and appointment of its own nominees
 "Dish TV board cites rules, rejects YES Bank's demands to hold EGM")
RBI bars Srei Infrastructure auditor Haribhakti & Co for two years
The audit firm, which is also a regular auditor of important banks, including state-owned banks, has been debarred under section 45MAA of the Reserve Bank of India Act
 "RBI bars Srei Infrastructure auditor Haribhakti & Co for two years")