Page 55 - Finance News
RBI's digital payments index increases to 493.22 as of March 2025
Index up from 465.33 in September 2024, reflecting rapid digital adoption and stronger payment infrastructure and performance across India
 "RBI's digital payments index increases to 493.22 as of March 2025")
Digital payments rise 10.7% amid growth in supply-side factors: RBI
The index for March 2025 stands at 493.22 as against 465.33 for September 2024 and 445.5 for March 2024, the RBI said in a statement
RBI proposes easing business authorisation norms for urban co-op banks
A UCB may extend its area of operation to the whole of its district of registration without prior permission from the RBI
 "RBI proposes easing business authorisation norms for urban co-op banks")
Raising FDI in insurance aims to unlock sector's full potential: FM
The finance minister in Union Budget 2025-26 had proposed to raise the limit of foreign investment in insurance sector from the existing 74 per cent to 100 per cent
 "Raising FDI in insurance aims to unlock sector's full potential: FM")
Over 31,500 govt employees opt for UPS till July 20, says FM Sitharaman
Nirmala Sitharaman said as on July 20, 2025, at least 7,253 claims have been received and out of which 4,978 claims have been processed for payment of benefits
 "Over 31,500 govt employees opt for UPS till July 20, says FM Sitharaman")
NPAs in agriculture sector stay high amid loan-saturation concerns
The stress reflects growing concern over loan saturation, with some PSBs reporting lower single-digit year-on-year (Y-o-Y) growth
 "NPAs in agriculture sector stay high amid loan-saturation concerns")
Digital debt collection makes strides as lenders use tech to cut visits
For a business that's taken huge strides in recent years, mirroring the growth in retail credit, there's hardly anything by way of a sizing study on it
 "Digital debt collection makes strides as lenders use tech to cut visits")
Citi launches Strata Elite Card to compete with AmEx, JPMorgan Chase
The card, which is priced less than the Platinum Card and the Sapphire Reserve Card at an annual fee of USD 595, will offer points multiples for certain types of spending
 "Citi launches Strata Elite Card to compete with AmEx, JPMorgan Chase")
Planning to sell excess priority sector loans in Q2 FY26: MD Canara Bank
Canara Bank plans to offload excess priority sector loans in Q2 FY26 to reduce margin stress, with its priority sector lending currently exceeding regulatory norms
 "Planning to sell excess priority sector loans in Q2 FY26: MD Canara Bank")
Indian Bank gets board's approval to raise ₹5,000 crore: MD Kumar
Indian Bank plans to raise ₹5,000 crore in FY26, with a focus on enhancing capital adequacy and introducing its own UPI app, IND-UPI. Net profit rose by 23.69% in Q1 FY26
 "Indian Bank gets board's approval to raise ₹5,000 crore: MD Kumar")
Savings deposit rates of some PSBs at historic low, says RBI bulletin
The weighted average domestic term deposit rates for fresh deposits has declined significantly for both PSBs and private sector banks
 "Savings deposit rates of some PSBs at historic low, says RBI bulletin")
Indian economy can grow over 6.5% in FY26 without hurdles: RBI MPC member
Nagesh Kumar said that Indian economy, among all economies, continues to remain a bright spot for the world
 "Indian economy can grow over 6.5% in FY26 without hurdles: RBI MPC member")
Fada seeks RBI intervention on private banks delaying auto loan rate cuts
In a letter to RBI Governor Sanjay Malhotra, the Federation of Automobile Dealers Associations (FADA) also called for a review of private banks' repo-rate pass-through lags in the auto-loan portfolio
 "Fada seeks RBI intervention on private banks delaying auto loan rate cuts")
Feb, Apr rate cuts fully transmitted, to help improve growth: RBI Governor
RBI governor says further rate reductions will depend on outlook for growth and inflation
 "Feb, Apr rate cuts fully transmitted, to help improve growth: RBI Governor")
Centre appoints Anuradha Thakur as director on central board of RBI
The move comes a day after Seth was named chairman of the Insurance Regulatory and Development Authority of India (Irdai)
 "Centre appoints Anuradha Thakur as director on central board of RBI")
RBI's 7-day VRRR receives significant demand due to reversal of ₹2 trillion
The RBI accepted Rs. 1.25 trillion in the 7-day VRRR auction at a cut-off rate of 5.49%, with a major uptick in demand after last week's Rs. 2 trillion reversal
 "RBI's 7-day VRRR receives significant demand due to reversal of ₹2 trillion")
Setu makes leadership appointments, hires executives from major fintechs
Setu strengthens its leadership team with experienced executives from Razorpay, PhonePe, and other fintech giants to drive growth
 "Setu makes leadership appointments, hires executives from major fintechs")
Forex reserves decline by $1.18 billion to $695.48 billion, shows RBI data
In the previous reporting week, the overall kitty had dropped by $3.064 billion to $696.672 billion. The reserves had touched an all-time high of $704.885 billion in end-September 2024
 "Forex reserves decline by $1.18 billion to $695.48 billion, shows RBI data")
Sebi considers easing rules for issuers of non-convertible securities
The relaxation from sending physical copies of financials will result in cost savings and prevent paper wastage. Also, this would lead to regulatory consistency and ease of doing business
 "Sebi considers easing rules for issuers of non-convertible securities")
Following repo cut, PSBs reduce rates more than private counterparts
The Reserve Bank of India has already cut its key repo rate by 100 basis points in an effort to jumpstart growth in the economy
 "Following repo cut, PSBs reduce rates more than private counterparts")