Page 475 - Finance News
Processing about 1.5 bn transactions a month: PhonePe CEO Sameer Nigam
Nigam said that the fintech firm is aiming to reach 900 million people in the next 8-10 years
 "Processing about 1.5 bn transactions a month: PhonePe CEO Sameer Nigam")
Indian investment bankers tighten grip over the league table
ICICI Securities, Axis, Kotak among top 5 managers of equity issuances
 "Indian investment bankers tighten grip over the league table")
KPMG to assist government in strategic divestment of IDBI Bank for Rs 1
The near-zero bid could make KPMG one of the largest players in managing deals in the financial services space if IDBI Bank sale is a success
 "KPMG to assist government in strategic divestment of IDBI Bank for Rs 1")
Barclays Bank Plc infuses Rs 3,000 cr in India ops to bolster business
With this infusion, the bank's total invested capital in the country will increase to over Rs 8,300 crore
 "Barclays Bank Plc infuses Rs 3,000 cr in India ops to bolster business")
Central banks should not mandate 'green' investments: Raghuram Rajan
The former RBI governor said central banks should turn their focus to the financial stability of these green investments and other threats such as crypto currencies and cyber security
 "Central banks should not mandate 'green' investments: Raghuram Rajan")
Govt approves extension of terms of three MD-CEOs, 10 EDs of PSU banks
Mallikarjuna Rao of PNB, Atul Kumar Goel of UCO Bank and A S Rajeev of Bank of Maharashtra are the three MD-CEOs to have got extensions
 "Govt approves extension of terms of three MD-CEOs, 10 EDs of PSU banks")
Eye on retail, SME credit as public sector banks prepare for festivals
Banks to ramp up efforts during outreach programme
 "Eye on retail, SME credit as public sector banks prepare for festivals")
RBI imposes penalty on 2 co-op banks, 1 NBFC for compliance deficiency
The Reserve Bank of India (RBI) on Thursday said it has imposed penalties on two co-operative banks and a non-banking financial company (NBFC), for deficiencies in certain regulatory compliance.
HDFC Bank lists $1-billion AT-1 bonds on IFSC exchanges at GIFT
HDFC Bank on Thursday listed its USD 1 billion additional tier- I (AT-1) bonds on the IFSC (International Financial Services Centre) exchanges at Gujarat International Finance Tec-City (GIFT)
 "HDFC Bank lists $1-billion AT-1 bonds on IFSC exchanges at GIFT")
Processing about $1.5 billion transactions a month, says PhonePe
Fintech major PhonePe on Thursday said it is processing almost $1.5 billion transactions a month, and about 80 per cent of its users are from tier-II cities and beyond
 "Processing about $1.5 billion transactions a month, says PhonePe")
RBI extends PIDF scheme to street vendors under PM SVANidhi programme
Reserve Bank on Thursday extended the scheme for encouraging deployment of Point of Sale (PoS) infrastructure to street vendors covered under the PM SVANidhi programme in tier 1 and 2 centres.
 "RBI extends PIDF scheme to street vendors under PM SVANidhi programme")
Jana SFB ties up with two co-op banks to offer digital, payment services
Jana Small Finance Bank (Jana SFB) will provide its digital infrastructure and payments services to HCBL Co-operative Bank and Mysore Merchants Co-operative Bank under the bank sponsorship programme.
 "Jana SFB ties up with two co-op banks to offer digital, payment services")
PhonePe gets in-principal nod from RBI to operate as an account aggregator
Account aggregators are responsible for providing services based on the explicit consent of individual clients, which includes the transfer, but not storing, of a client's data
Indian banks will be able to withstand rising asset risks, says Moody's
The rating agency in a statement said that banks' improved profitability, capital and loss buffers will help them absorb anticipated loan losses and maintain credit strength
 "Indian banks will be able to withstand rising asset risks, says Moody's")
Carol Furtado to be Ujjivan SFB's interim CEO after surprise exit of Chugh
Furtado will be leading the charge of handling the day-to-day operations of the bank
 "Carol Furtado to be Ujjivan SFB's interim CEO after surprise exit of Chugh")
NPAs in retail and MSMEs rise to 7.3% for public sector banks in Q1
The incidence of bad loans was lower for private banks with GNPAs at 3.32 per cent in June, up from 2.01 per cent year ago, according to CARE Ratings
Family pension of bank employees set at 30% of last drawn salary: Govt
PSBs' pension contribution for employees under NPS also hiked to 14%, says DFS secy
 "Family pension of bank employees set at 30% of last drawn salary: Govt")
Working with RBI to ensure customers don't have to key in card number: PCI
The RBI's new rules are supposed to kick in from January 2022
 "Working with RBI to ensure customers don't have to key in card number: PCI")
ICICI bank files cheating case against Karvy Stock Broking Ltd
A case has been registered against Karvy Stock Broking Ltd promoter C. Parthasarathy and others for allegedly cheating ICICI Bank to the tune of Rs 563 crore.
 "ICICI bank files cheating case against Karvy Stock Broking Ltd")
Sebi orders defreezing of bank accounts of former Yes Bank CEO Rana Kapoor
Sebi on Wednesday directed the defreezing of attached bank accounts/lockers/demat accounts and mutual fund folios of Yes Bank founder Rana Kapoor
 "Sebi orders defreezing of bank accounts of former Yes Bank CEO Rana Kapoor")