Page 61 - Finance News

Trump's 50% tariffs forcing Indian banks to scrutinise exporters' loans

Lenders are asking borrowers more pointed questions when vetting new export financing proposals or renewals of such funding

Karnataka witnesses 5-fold jump in GST tax evasion at ₹39,577 cr in FY25

Last month, numerous small traders and shopkeepers in Bengaluru, Karnataka, received disproportionately high GST notices primarily based on digital footprints

UPI's top checkout by volume in July: The grocery aisle dominates

NPCI uploads new data points on UPI from time to time. One of the reasons to do that is to provide an ecosystem-level overview to all ecosystem participants, including banks and fintechs

New I-T Bill with Parl panel's suggestions to be tabled on Monday: Rijiju

Rijiju's statement came in the wake of apprehensions voiced in a section of the media on the withdrawal of the Income Tax Bill from the Lok Sabha on Friday.

Tariff uncertainty may harm investment decisions: SBI chief CS Setty

But, the narrative around the uncertainty is more damaging and may cause delay in investment decisions and postponement of spending, he added

Banks roll over maturing VRRR amount; overnight WACR breaches repo rate

On Friday, the RBI conducted two VRRR auctions, one for six-day tenure and another for three-day tenure, to withdraw a total ₹3 trillion from the banking system

SBI Q1 results: Net profit rises 12.5% to ₹19,160 crore on treasury gains

SBI Q1 net rises to ₹19,160 crore aided by treasury gains; net interest margins may improve by March 2026 even as NII and CASA ratio face near-term pressure

Credit growth rose to 10% in July 25 fortnight, deposit growth at 10.2%

Retail credit moderation and rising bond yields impact bank lending growth, as credit rises 10 per cent and deposits grow 10.2 per cent in the fortnight ended 25 July

Amber may offload ILJIN stake, to invest ₹4,200 crore in PCB plants

Electronics maker Amber Enterprises is planning a ₹4,200 crore investment under ECMS, while exploring pre-IPO or private equity options for ILJIN Electronics

Life insurers' new business premium rises 22% to ₹38,958 cr in July

Driven by LIC's group single premiums and private sector's individual policies, life insurers posted 22.4% YoY NBP growth in July despite a dip in total policy count

RBI imposes ₹75 lakh penalty on ICICI Bank for compliance breaches

The Reserve Bank fined ICICI Bank for violations related to property valuation and current account operations, citing non-compliance without impacting customer transactions

Forex reserves decline $9.32 billion to $688.87 billion, shows RBI data

For the week ended August 1, foreign currency assets, a major component of the reserves, decreased by $7.319 billion to $581.607 billion, according to the data

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.