Page 56 - Finance News

RBI imposes penalty of ₹44.70 lakh on Bandhan Bank over regulatory lapses

In a statement on Friday, the RBI said that a statutory inspection for supervisory evaluation of the bank was conducted with reference to its financial position as on March 31, 2024

Forex reserves drop $4.38 billion to $690.72 billion, shows RBI data

For the week ended August 22, foreign currency assets, a major component of the reserves, decreased $3.652 billion to $582.251 billion, the data released on Friday showed

RBI net sells $3.6 bn in Jun, net short dollar position dips to $60.39 bn

The RBI reversed its forex stance in June with $3.6 bn net sales, while rupee's REER stayed flat and forward dollar short positions dropped further to $60.39 bn

Banks see thinning spreads, driven by credit dip, lower deposits, rate cuts

Growing competition in corporate and institutional credit as well as in home loans, and lower interest rates have also put pressure on lending margins

Piyush Gupta appointed alternate member of Singapore presidential council

Gupta, from Meerut, was awarded the Public Service Star by the Singapore President for his meritorious services to the nation in 2020

Sumitomo Mitsui to invest ₹16,000 crore more in YES Bank after RBI nod

Sumitomo Mitsui's fresh ₹16,000 crore plan follows its earlier ₹13,500 crore deal for 20% in YES Bank, with RBI nod for up to 24.99% ownership

Headline inflation should continue to be the target, says BS poll

Economists back headline CPI as India's inflation target, stressing food's heavy weight in consumption and urging RBI to retain the 4% benchmark with the current tolerance band

AHPI to take call on ending freeze on Bajaj Allianz cashless services

Reports also suggested that AHPI is likely to write to the Competition Commission of India and the Insurance Regulatory and Development Authority of India on the issue

Govt to meet banks, fintechs on Aug 29 to discuss Online Gaming Act rollout

The meeting, to be cochaired by secretaries of Department of Financial Services and Meity, will focus on operational measures required to enforce ban on real-money online games, according to source

Indian banks' net interest margins likely to improve in H2 FY26: S&P

S&P Global expects Indian banks' margins to recover in H2 FY26 after RBI's 100 bps rate cut hit Q1 earnings, with SBI, ICICI posting profit growth and asset quality seen healthy

Bond yields fall after four sessions of gains ahead of weekly auction

Government bond yields eased on short covering and FPI buying ahead of a Rs 32,000 crore auction, with spreads between 10-year and 15-year bonds and SDLs widening further

More than 560 mn Jan Dhan accounts opened in last 11 years: Sitharaman

She stated that PMJDY has been one of the major channels for delivering benefits under various schemes

RBI mulls restricting shadow banks from duplicating parent businesses

The central bank has been watchful of potential blowups in the sector, and has warned shadow lenders it would not hesitate to take action against firms that pursue reckless growth

'Not worried about rupee becoming a reserve currency': US Secy Bessent

As Trump tariffs hit India's trade, US Treasury Secretary Scott Bessent shot down talk of the rupee gaining 'reserve' status, citing its weakness versus the dollar

The great tax rewrite: New law promises simplicity, stronger oversight

A sharper new income-tax law simplifies the landscape for individuals and corporations, expands the reach of enforcement authorities

Uncertainties around tariffs may affect capex decisions this fiscal: Crisil

Despite the healthy corporate sheets supporting fresh investments, the imposition of the tariffs is likely to hit sentiments

Bank holiday today: Are banks open or closed on Wednesday, August 27?

As per the Reserve Bank of India's (RBI) regional holiday calendar, banks will be closed in certain regions of India on Wednesday, August 27 in observance of the first day of Ganesh Chaturthi

Diwali tax cuts risk worsening India's tariff sting as Trump threat looms

While lower consumption taxes will indeed spur demand, particularly for durables such as autos, TVs and ACs, it may not happen immediately

Govt bonds recover all losses on short covering; SDL yields surge

Government bonds recovered losses on Tuesday after short covering, with the 10-year yield closing flat at 6.60 per cent while SDL spreads widened sharply to 80 basis points

Nabfid, Nabard to tap overseas market by FY26-end amid yield pressure

NaBFID aims to raise $1 bn via ECBs and dollar bonds while Nabard eyes overseas fundraising by FY26-end as rising bond yields and global risks weigh on domestic mobilisation