Page 47 - Finance News
New Development Bank appoints RBI's Rajiv Ranjan as vice president
NDB, the BRICS multilateral bank, named RBI executive director Rajiv Ranjan vice president and chief risk officer for five years; he will assume charge in September
 "New Development Bank appoints RBI's Rajiv Ranjan as vice president")
Sales of listed private NFCs grow at slower pace of 5.5% in Q1 FY26: RBI
RBI released the data on the performance of the private corporate sector during the first quarter of 2025-26, drawn from abridged quarterly financial results of 3,079 listed private non-financial cos
 "Sales of listed private NFCs grow at slower pace of 5.5% in Q1 FY26: RBI")
SBI asks regulator to allow banking industry to finance acquisitions
SBI Chairman also urged the private sector to commence investment for capacity expansion, as the government has already taken several steps to boost consumption
 "SBI asks regulator to allow banking industry to finance acquisitions")
Fintech Kiwi raises $24 mn Series B, aims profitability in two years
The round also saw participation from Nexus Venture Partners, Stellaris Venture Partners, and Omidyar Network
 "Fintech Kiwi raises $24 mn Series B, aims profitability in two years")
Banks draw up plans to help exporters navigate 50% Trump tariff threat
The 50 per cent tariffs, which come into effect from August 27, have prompted officials to take proactive measures to mitigate the impact, said senior bankers
 "Banks draw up plans to help exporters navigate 50% Trump tariff threat")
After a 4-month record in FY26, corporate bond issuances slow down in Aug
Market participants said that the bond market is currently in a wait-and-watch mode due to multiple uncertainties amid supply pressures from state bonds and central government bonds
 "After a 4-month record in FY26, corporate bond issuances slow down in Aug")
Sebi approval for LIC as IDBI Bank public shareholder after divestment
SEBI has approved reclassification of LIC as a public shareholder in IDBI Bank following strategic divestment, subject to curbs on voting rights and board representation
 "Sebi approval for LIC as IDBI Bank public shareholder after divestment")
Public sector banks lose big as pension fund deposits plunge 87% in 5 years
Public sector banks see sharp erosion in pension fund and household deposits, while private banks capture larger shares amid rising demand for returns and convenience
 "Public sector banks lose big as pension fund deposits plunge 87% in 5 years")
SMBC gets approval from RBI to acquire up to 25% stakes in Yes Bank
Will not be categorised as promoter, RBI clarified
 "SMBC gets approval from RBI to acquire up to 25% stakes in Yes Bank")
AMFI inks pact with Dept of Posts to train 100K postmen to distribute MFs
A memorandum of understanding in this regard was signed between AMFI and the postal department at an event here to mark AMFI's 30th foundation day
 "AMFI inks pact with Dept of Posts to train 100K postmen to distribute MFs")
VinFast Auto partners with SBI to provide car loans for EV buyers
The agreement aims to offer a seamless suite of credit solutions ahead of the electric automaker's first product rollout in the country
 "VinFast Auto partners with SBI to provide car loans for EV buyers")
RBI approves Indranil Bhattacharya's nomination as MPC ex-officio member
Indranil Bhattacharyya, Executive Director at RBI, has been nominated as an ex officio member of the Monetary Policy Committee (MPC), following the 618th meeting of the RBI's Central Board in Lucknow
 "RBI approves Indranil Bhattacharya's nomination as MPC ex-officio member")
RBI names Indranil Bhattacharyya as new MPC member ahead of October meet
The RBI Board approved Bhattacharyya's nomination as an ex officio MPC member, replacing Rajiv Ranjan
The good and worrying about the bad loan problem of state-owned banks
Lenders are improving asset quality but they are struggling to recover money
 "The good and worrying about the bad loan problem of state-owned banks")
RBI board to meet Friday to approve new internal monetary policy member
The RBI board will approve Indranil Bhattacharyya as the new internal member of the monetary policy committee, replacing Rajiv Ranjan ahead of the next review in late September
RBI receives ₹31,025 cr bids at VRR auction against ₹50,000 cr notified
RBI's overnight VRR auction received Rs 31,025 crore bids against Rs 50,000 crore notified as surplus liquidity stayed high despite upcoming tax outflows
 "RBI receives ₹31,025 cr bids at VRR auction against ₹50,000 cr notified")
Transfer-pricing cases under MAP take longer to resolve in India
OECD data shows higher timelines and heavier volumes than peer economies
 "Transfer-pricing cases under MAP take longer to resolve in India")
GST rationalisation: GoM backs Centre's proposal to end 12%, 28% tax rates
The Group of Ministers on Thursday accepted the Central government's plan to replace current GST rates of 12% and 18% for most items with a much-lower 5% and 18% slabs, as well as a steep 40% levy on
 "GST rationalisation: GoM backs Centre's proposal to end 12%, 28% tax rates")
GoM on rate rationalisation meets to discuss Centre's GST rate cut proposal
The 6-member Group of Ministers (GoM) on rate rationalisation is chaired by Bihar Deputy Chief Minister Samrat Choudhary
The cost of free: UPI's exponential growth strains limits of subsidies
Industry players add that while other monetisation-friendly avenues are emerging for UPI, those require to be developed further to offset the impact of free transactions
 "The cost of free: UPI's exponential growth strains limits of subsidies")