Page 57 - Finance News

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

Gems and jewellery sector seeks RBI relief as 50% US tariffs hit exports

Facing a 50% US tariff on exports, the gems and jewellery sector has asked the RBI for loan relief and EMI support, warning of payment delays, job losses and sector-wide stress

SBI Card, Flipkart launch co-branded credit card for seamless shopping

Customers can seamlessly apply for the credit card digitally via the Flipkart App, and SBI Card SPRINT, by visiting the SBI Card website SBI Card.com, the SBI Card said in a statement

UPI goes global: Cross-border transactions grow 20-fold in a year

Cross-border UPI transactions rose 20 times to 7.55 lakh in FY25, with expansion to seven countries and over 1.5 million merchants accepting the platform

India Inc meeting capex need with own cash, says SBI chief C S Setty

IBA to seek RBI nod to fund listed firms' M&A activities, says CS Setty

We don't get a penny for UPI infra: Axis Bank MD & CEO Amitabh Chaudhry

Axis Bank MD Amitabh Chaudhry said banks earn nothing from UPI transactions despite bearing the infrastructure costs, as subsidies and incentives shrink further

Non-bank lender Altum Credo raises ₹170 crore in funding led by BII

The funding will help the Pune-headquartered affordable housing-focused lender expand its operations in the country, as per a statement

RBI won't be found wanting if 50% US tariff hurts growth: Governor

Says Basel-III norms for credit and market risks likely from April 2027

Finance ministry allows one-time switch from new pension scheme to NPS

Finance ministry notification enables Central staff under the Unified Pension Scheme to shift to NPS once, not later than a year before superannuation

New Development Bank appoints RBI's Rajiv Ranjan as vice president

NDB, the BRICS multilateral bank, named RBI executive director Rajiv Ranjan vice president and chief risk officer for five years; he will assume charge in September

Sales of listed private NFCs grow at slower pace of 5.5% in Q1 FY26: RBI

RBI released the data on the performance of the private corporate sector during the first quarter of 2025-26, drawn from abridged quarterly financial results of 3,079 listed private non-financial cos

SBI asks regulator to allow banking industry to finance acquisitions

SBI Chairman also urged the private sector to commence investment for capacity expansion, as the government has already taken several steps to boost consumption

Fintech Kiwi raises $24 mn Series B, aims profitability in two years

The round also saw participation from Nexus Venture Partners, Stellaris Venture Partners, and Omidyar Network

Banks draw up plans to help exporters navigate 50% Trump tariff threat

The 50 per cent tariffs, which come into effect from August 27, have prompted officials to take proactive measures to mitigate the impact, said senior bankers

After a 4-month record in FY26, corporate bond issuances slow down in Aug

Market participants said that the bond market is currently in a wait-and-watch mode due to multiple uncertainties amid supply pressures from state bonds and central government bonds

Sebi approval for LIC as IDBI Bank public shareholder after divestment

SEBI has approved reclassification of LIC as a public shareholder in IDBI Bank following strategic divestment, subject to curbs on voting rights and board representation

Public sector banks lose big as pension fund deposits plunge 87% in 5 years

Public sector banks see sharp erosion in pension fund and household deposits, while private banks capture larger shares amid rising demand for returns and convenience