Page 486 - Finance News

Ball in RBI's court: HDFC Bank on ban on issue of new credit cards

HDFC Bank was asked to pay a fine of Rs 10 crore earlier this year by the RBI

Central Bank to seek shareholders' nod to set off loss of Rs 18,724 cr

Central Bank of India will seek shareholders' approval in its ensuing annual general meeting next month to set off accumulated loss of over Rs 18,724 crore from the share premium account of the bank.

Reduction in NPAs for PSBs due to write-offs at Rs 1,31,894 cr in FY21: RTI

Reduction in non-performing assets (NPAs) due to write-offs for public sector banks (PSBs) stood at Rs 1,31,894 crore during fiscal 2020-21, according to an RTI response.

How the Mastercard incident highlights need for regulating digital trade

The Indian central bank pulled the plug on the US payments network for alleged noncompliance with its controversial local data storage rules introduced three years ago

RBI must sacrifice inflation aim to aid growth: Ex-Guv Rangarajan

India will miss its fiscal deficit target of 6.8% of GDP by at least 1 percentage point, he said

RBI's move to ban Mastercard from issuing new cards may hit 5 private banks

Bajaj Finserv and SBI Cards also impacted

RBI Governor Shaktikanta Das says will bring financial inclusion index soon

Financial inclusion will continue to be the policy priority for the central bank, to make the post-pandemic recovery more inclusive and sustainable, Das said

RBI remains net purchaser of US dollar in May; buys $5.84 billion

The Reserve Bank of India (RBI) remained net buyer of the US dollar in May 2021, after it net purchased USD 5.842 billion from the spot market, according to data from the central bank.

Banks privatisation an exciting opportunity for investors: Former RBI DG

What is good for the country will have to be looked at while deciding on the entity, which will be granted a license, N S Vishwanathan said

Bank credit grows by 6.08% ; deposits increased by 9.76%

Bank credit grew by 6 per cent to Rs 109.31 lakh crore and deposits increased by 9.76 per cent to Rs 154.51 lakh crore in the fortnight ended July 2, 2021, RBI data showed.

UPI logs phenomenal growth, other nations keen to learn from India: Panda

Several countries have shown interest to learn from Indian experience so that they could replicate the model: Financial Services Secretary Debasish Panda

Physical bank branches will continue to play key role in rural areas

Kotak Mahindra Bank Joint Managing Director Dipak Gupta said although retail customers have adopted phygital very fast, the non-retail customers are still dealing in cash.

Next purchase of G-secs worth Rs 20,000 cr under G-SAP 2.0 on July 22: RBI

RBI on Thursday said the next purchase of government securities for an aggregate amount of Rs 20,000 crore under the G-sec Acquisition Programme (G-SAP 2.0) will be conducted on July 22

Mastercard ban: These 7 lenders are going to be hit hard by RBI's decision

Among credit card issuers including co-branded partners, RBL Bank, YES Bank and Bajaj Finserv lending will be most impacted, says Nomura

External benchmark system improves monetary transmission: RBI Article

Private sector banks have exhibited increased pass-through to lending and deposit rates compared to public sector banks.

STT collection hits all-time high; taxman rides on bullish stock market

The Income Tax department has got a record of Rs 5373 crore in the head of STT collection during the first quarter of financial year.

MFI sector's credit cost seen at 5-10% in FY22: India Ratings and Research

India Ratings and Research revised upwards its credit cost estimate for microfinance institution (MFI) sector to 5-10 per cent in the current financial year compared to earlier 3-6 per cent

Credit costs of MFIs may surge up to 10% by March 22, says Ind-Ra

In May 2021, the rating agency had predicted that overall the microfinance sector's collections could drop by a cumulative 10-15 per cent during the month compared to March 2021

RBI governor warns of downsides to direct financing of govt fiscal deficit

Direct financing or monetisation of the government's fiscal deficit by the central bank has several downsides, Reserve Bank of India Governor Shaktikanta Das said

RBL Bank enters into agreement with Visa for issuing credit cards

The bank is expecting to start issuing credit cards on the Visa payment network post the technology integration, which is expected to take 8 to 10 weeks