Page 51 - Finance News

Independent directors must be stewards of accountability: Sebi chief

Sebi chief Tuhin Kanta Pandey underlined the need for broader diversity in board composition, drawing talent from varied sectors, younger professionals, and individuals outside familiar networks

AU Small Finance Bank gets RBI approval to become a universal bank

AU Small Finance Bank becomes the first SFB to receive RBI's in-principle approval to transition into a universal bank, expanding its product reach and lending base

RBI to conduct two VRRR auctions to absorb ₹3 trillion from system

RBI will hold two VRRR auctions on Friday with six-day and three-day tenures to absorb excess liquidity from the banking system, which has a surplus of Rs 4 trillion

Kinara Capital proposes temporary calm period to all its lenders

Kinara Capital defaults on payments and proposes a calm period via an intercreditor pact as it seeks to preserve cash and resume repayments from October 2025

Fintech firm BharatPe eyes funding round ahead of IPO, says CEO Nalin Negi

After posting a Rs 6 crore profit in FY25, BharatPe plans a pre-IPO round and aims for a fully PAT-positive business before listing, says CEO Nalin Negi

IFC commits $150 mn to HDFC's H-DREAM fund for green, affordable housing

The move aims to advance green affordable housing and expand sustainable financing for property developers in India

Banks must release funds without legal docs for survivor accounts: RBI

RBI says banks must release funds without legal documents in cases with survivorship clause or nominees; sets Rs 15 lakh threshold for claims without legal heir proof

SECI sees record-low price of ₹55.75 per kg in first green ammonia auction

This holds significance as low-priced green ammonia is pivotal for India to reduce reliance on imported natural gas for fertiliser production, lower carbon emissions, and enhance energy security.

UPI not free even now, govt subsidising it, says RBI Guv Sanjay Malhotra

Every year, the central government earmarks a certain amount for the promotion of UPI peer-to-merchant (P2M) transactions and RuPay debit card transactions

Comfortable liquidity reinforced transmission of rate cuts in markets

System liquidity, as measured by the net position under the liquidity adjustment facility, has been in surplus, averaging ₹3 trillion per day since the last MPC meeting

Not worried about bank savings being put into equities: RBI guv Malhotra

RBI Governor Sanjay Malhotra says shift in household savings from deposits to equities is healthy, while urging curbs on mis-selling in bancassurance to protect consumers

RBI MPC: No reason to believe rate cut will not be growth-inducing

Governor Sanjay Malhotra says front-loaded policy easing and stable inflation outlook will support credit growth, while tariffs and global shocks pose limited risks to India's economy

MPC review: RBI hits pause on policy repo rate cuts, citing uncertainties

The central bank also cut the inflation outlook for the current financial year by 60 basis points (bps) to 3.1 per cent which is significantly below its mandated target of 4 per cent

RBI mandates 10% loan retention for banks, NBFCs under co-lending deals

Effective January 1, RBI requires regulated entities in co-lending to retain 10% of each loan on books, cap default loss guarantee at 5%, and align asset classification between partners

RBI survey shows consumer confidence rises in rural, urban areas in July

RBI's July survey shows higher consumer confidence in rural, semi-urban and urban areas, driven by optimism on economy, jobs, incomes and easing inflation expectations

Rate cut hopes fade: G-sec yield sees highest single-day rise in 14 mths

The benchmark yield rose by 8 basis points (bps) to settle at 6.41 per cent - its highest since April 11 this year - against the previous day's close of 6.33 per cent

India's GCCs too big to bill lightly: Backend hubs face tax claims

The big question: Are these companies paying their fair share of taxes in India? That question has triggered a series of tax disputes between foreign firms and Indian authorities

Recent volatility in rupee modest against major global currencies: RBI guv

The Governor further said that while crude oil is a key driver of inflation, stopping Russian oil purchases may not significantly impact inflation at this stage

RBI allows treasury bills investment via SIP in Retail Direct scheme

The Retail Direct portal was launched in November 2021 to facilitate retail investors to open their gilt accounts with the RBI under the Retail Direct scheme

RBI to simplify claim process for deposits, lockers of deceased customers

The move is aimed at making settlement of claims or return of articles from a locker smooth for relatives after the death of a customer