Page 56 - Finance News

Inflation, growth outlook to guide rate cuts, not current CPI data: RBI Guv

It can be noted that the RBI has cut its key rates by 1 percentage point this year, and official data pointing to headline inflation cooling to 2.1 per cent

RBI to consider giving Section-8 MFI firms' access to credit bureaus

The lack of access to credit information leaves Section-8 MFIs in the dark about the worthiness of their clients, while allowing borrowers to exploit the arbitrage between Section-8 and mainline MFIs

RBI to hold rates in August, expected to cut again later this year: Poll

Subdued inflation has allowed policymakers room to cut rates but with the economy expanding at a rapid 7.4 per cent rate

Former Finance Secretary Ajay Seth appointed as new Irdai chairman

Ajay Seth, former finance secretary and G20 finance track lead, appointed as Irdai chairman for three years or until the age of 65, whichever is earlier

Income Tax dept working on rules for new direct tax law: CBDT chief

The chairperson of the Central Board of Direct Taxes said the department is aligning its enforcement approach with a principle of "empathy", aiming to improve voluntary compliance

Monthly RBI bulletin: Public-sector banks slashed rates more than pvt peers

RBI report says PSBs reduced lending and deposit rates more than private banks in response to 100-bps repo rate cut; economy stays resilient amid global uncertainty

RBI net bought $1.76 bn in May; forward short dollar position at $65.21 bn

Before May, the RBI was a net buyer of the greenback only in March, while it remained a net seller in January, February, and April

I-T Bill 2025: FinMin rejects demand for time limit on tax pleas' disposal

The finance ministry said the statute only provides for the time-lines and procedural requirements and the mechanism to make appellate procedure more efficient and taxpayer friendly

Co-op bank call market activity rebounds after RBI platform directive

Co-operative bank participation in the call money market has rebounded after a drop following RBI's mandate for NDS-CALL platform membership, says RBI report

PayPal to integrate UPI for cross-border payments with global partners

PayPal is partnering with NPCI International and global wallets to enable Indian users to make cross-border payments using UPI, starting with US-based merchants

RBI withdraws conditions on Religare Finvest under Corrective Action Plan

RBI withdraws CAP conditions imposed on Religare Finvest after noting compliance with regulatory requirements and changes in management and board composition

Kotak Mahindra Bank targets affluent clients with 'Solitaire' launch

According to the bank, the eligibility hinges on salaried individuals maintaining a relationship value of ₹75 lakh with the bank, and ₹1 crore for self-employed individuals

RBI net bought $1.76 billion in forex market in May, shows bulletin

The RBI said it purchased $9.1 billion and sold $7.3 billion during the month. In April, the central bank had sold a net of $1.66 billion

PayPal partners with NPCI, others to launch cross-border payments platform

PayPal's new global platform will enable UPI-based cross-border payments, backed by partners like Mercado Pago, Tenpay Global and Venmo, with rollout set for later this year

Finance Commission must focus on strengthening local bodies: Raghuram Rajan

Former RBI Governor Raghuram Rajan noted that the previous finance commissions devolved more funds to the local bodies and urged for greater decentralisation in India

HKMA penalises IOB's Hong Kong branch for breaching AML regulations

The Hong Kong Monetary Authority imposes a penalty on Indian Overseas Bank's Hong Kong branch for violating anti-money laundering regulations from May 2021 to January 2024

RBI's financial inclusion index hits 67 in March 2025, reflecting growth

The central bank on Tuesday said that growth was witnessed across all sub-indices - access, usage, and quality

WACR tops repo rate for the first time in FY26 amid GST outflows

The weighted average overnight call rate (WACR) breached the RBI's repo rate for the first time this fiscal, amid GST outflows, with liquidity surplus in the banking system at around 1% of NDTL

Lack of empathy in customer service driving complaints: RBI DG Swaminathan

'Systems respond with templated emails and helplines loop back endlessly'

Fintech self-regulator issues code of conduct for regtech companies

Members of FACE (Fintech Association for Consumer Empowerment) that provide regulatory technology products must implement the code within six months