Page 63 - Finance News

UCO Bank's total business jumps 13% to Rs 5.24 trillion in Q1FY26

According to provisional figures disclosed to bourses, total advances stood at Rs 2.25 lakh crore, registering a 16.58 per cent year-on-year increase

Private credit deals gaining momentum in India, says Cerberus MD Ghosh

Cerberus, which has $65 billion under management globally, was among the anchor investors in Shapoorji Pallonji Group's $3.4 billion financing, the country's largest private credit deal to date

RBI bars prepayment penalty on floating rate micro, small business loans

From January 2026, banks and NBFCs cannot charge micro and small businesses for early repayment of floating rate loans as RBI moves to enhance financing access

More VRRRs likely as banking system liquidity surplus hits ₹3.31 trn

Despite RBI's VRRR auction, liquidity surplus rose to its highest in weeks, keeping overnight rates near the SDF rate and prompting expectations of further auctions

RBI bars lenders from charging pre-payment fees on MSE, individual loans

RBI bans pre-payment charges on floating-rate loans for individuals and MSEs from Jan 2026. The move aims at ensuring fair lending practices and improving access to affordable finance

Indian Bank cuts lending rate for one year maturity by 5 bps to 9%

Besides, the Chennai-based bank has announced the complete waiver of minimum balance charges across all Savings Bank accounts, effective July 7, 2025

Pension administration needs urgent, systemic reforms: MoS Jitendra Singh

Union minister Jitendra Singh called for urgent reforms in pension administration, given that the number of central government pensioners now exceeds serving staff and a number of pending legal cases

Need to shift from fortnightly to real-time credit reporting: RBI DG

According to Rao, the shift from fortnightly credit reporting to real time credit reporting requires investments in technology, process reengineering, and change management

RBI DG Rao asks credit info firms to switch to real-time data reporting

Speaking at a conference organised by Cibil here on Tuesday, Rao said quicker relaying of data from the CICs will help in deepening trust, efficiency and transparency in the system for everybody

CBDT raises cost inflation index to 376 for FY26 to ease capital gains tax

CBDT raises Cost Inflation Index to 376 for FY26, offering tax relief on capital gains for assets bought before July 23 2024. New rules reduce indexation scope under Finance Act 2024

AU Small Finance Bank appoints two independent directors, senior executives

The two independent directors, Nandkumar Saravadeand Jagajit Mangal Prasad, have an experience of over three decades in human capital strategy

RBI panel likely to recommend govt retain current 4% inflation target

Retaining the inflation target would remove some uncertainty about the process and reassure market participants about policy continuity under Governor Sanjay Malhotra

New project finance norms: Banks seek exemption for smaller loans

On June 19, the RBI announced the final norms for project finance, prescribing a one per cent general provision for all projects, as compared to 0.4 per cent now

Indian scheduled commercial banks' gross NPA ratio at 15-year low

Private sector banks' gross NPA ratio was stable at 2.8 per cent while foreign banks saw a decline to 0.9 per cent from 1.2 per cent

UPI transaction volume dips 1.5% in June, after record rise in May

IMPS, FASTag and AePS transactions also clock decline

RBI Governor Sanjay Malhotra to appear before House panel on July 10

At its previous two meetings on the subject on May 28 and 29, the parliamentary standing committee on finance had flagged "ambiguities" in the IBC

Rupee ends first quarter flat amid global tensions and dollar weakness

The rupee ended Q1 marginally weaker at 85.77 after volatile trading amid Iran-Israel tensions, IPO inflows, oil easing and RBI reducing short dollar positions

Cabinet approves ₹1 trillion employment-linked incentive scheme

The ELI scheme aims to generate over 35 million jobs by incentivising first-time workers and employers; EPFO-linked scheme covers jobs from August 2025 to July 2027

SBI's digital transformation immensely benefited customers: FM Sitharaman

Congratulating SBI on completing 70 years of service to the nation, she expressed hope that the Bank will continue to innovate and empower as India

Govt once again extends tenure of FSIB chairman, other members by one year

FSIB is headed by Bhanu Pratap Sharma, former secretary of Department of Personnel and Training (DoPT)