Page 65 - Finance News
RBI unlikely to revive daily fixed-rate lending despite market demand
The policy, called fixed rate liquidity operations, will help banks manage their needs better, several bankers proposed to the RBI in meetings held over the last few months
 "RBI unlikely to revive daily fixed-rate lending despite market demand")
Rupee hits 5-month low after Trump's tariff threat, logs 0.7% drop
Rupee falls 60 paise to 87.42 per dollar after Trump announces 25% tariff and penalty; FPI outflows, Fed policy outlook, and rising dollar add pressure
 "Rupee hits 5-month low after Trump's tariff threat, logs 0.7% drop")
ICAI notifies norms to cap individual tax audits by CAs to 60 annually
The norms in this regard have been notified and are mandatory, he said, and stressed that audit is the forte of chartered accountants
 "ICAI notifies norms to cap individual tax audits by CAs to 60 annually")
MFIs face tough recovery path; profitability seen by FY26-end: CRISIL
CRISIL says MFI profitability to normalise only by end-FY26 as legacy slippages and state-level disruptions in Karnataka and Tamil Nadu slow down recovery prospects
 "MFIs face tough recovery path; profitability seen by FY26-end: CRISIL")
World Bank plans securitisation, debt swaps to boost development
"We can't do project by project," Banga said of the securitisation plans. "We don't have 100 years."
 "World Bank plans securitisation, debt swaps to boost development")
AHFC loans to increase to ₹2.5 trillion by FY28-end: Icra report
It said non-bank lenders' mortgage portfolio is set to touch ₹20 trillion by March 2028, from ₹13 trillion in March 2025
 "AHFC loans to increase to ₹2.5 trillion by FY28-end: Icra report")
RBI eases norms, caps investments by banks, NBFCs in AIF schemes at 20%
RBI caps exposure at 20% for banks, NBFCs in AIF schemes, excluding equity investments from provisions, with new guidelines effective from January 2026
 "RBI eases norms, caps investments by banks, NBFCs in AIF schemes at 20%")
Rupee weakens to over four-month low on importers' US dollar demand
The rupee fell to its lowest level since March 13 as importer dollar demand, trade deal uncertainty, and foreign outflows weighed on sentiment amid RBI liquidity measures
 "Rupee weakens to over four-month low on importers' US dollar demand")
Only 1.37% of eligible central employees opted for UPS as of July 20
Just 31,555 employees have enrolled in the Unified Pension Scheme despite a three-month extension; Finance Ministry highlights low adoption
 "Only 1.37% of eligible central employees opted for UPS as of July 20")
UPI payments through biometrics likely soon; PIN may become optional
The National Payments Corporation of India (NPCI) is preparing to roll out this update to UPI, which is expected to enhance security and convenience
 "UPI payments through biometrics likely soon; PIN may become optional")
FinMin sees room for more rate cuts as inflation remains below RBI's target
The central has cumulatively reduced the short-term benchmark lending rate (repo) by 100 basis points since February
 "FinMin sees room for more rate cuts as inflation remains below RBI's target")
RBI to conduct 3-day VRRR auction Tuesday to absorb ₹50,000 crore
The central bank's move follows rising liquidity in the system that has pulled overnight rates below the repo rate; WACR and tri-party repo rates remain under pressure
 "RBI to conduct 3-day VRRR auction Tuesday to absorb ₹50,000 crore")
RBI's digital payments index increases to 493.22 as of March 2025
Index up from 465.33 in September 2024, reflecting rapid digital adoption and stronger payment infrastructure and performance across India
 "RBI's digital payments index increases to 493.22 as of March 2025")
Digital payments rise 10.7% amid growth in supply-side factors: RBI
The index for March 2025 stands at 493.22 as against 465.33 for September 2024 and 445.5 for March 2024, the RBI said in a statement
RBI proposes easing business authorisation norms for urban co-op banks
A UCB may extend its area of operation to the whole of its district of registration without prior permission from the RBI
 "RBI proposes easing business authorisation norms for urban co-op banks")
Raising FDI in insurance aims to unlock sector's full potential: FM
The finance minister in Union Budget 2025-26 had proposed to raise the limit of foreign investment in insurance sector from the existing 74 per cent to 100 per cent
 "Raising FDI in insurance aims to unlock sector's full potential: FM")
Over 31,500 govt employees opt for UPS till July 20, says FM Sitharaman
Nirmala Sitharaman said as on July 20, 2025, at least 7,253 claims have been received and out of which 4,978 claims have been processed for payment of benefits
 "Over 31,500 govt employees opt for UPS till July 20, says FM Sitharaman")
NPAs in agriculture sector stay high amid loan-saturation concerns
The stress reflects growing concern over loan saturation, with some PSBs reporting lower single-digit year-on-year (Y-o-Y) growth
 "NPAs in agriculture sector stay high amid loan-saturation concerns")
Digital debt collection makes strides as lenders use tech to cut visits
For a business that's taken huge strides in recent years, mirroring the growth in retail credit, there's hardly anything by way of a sizing study on it
 "Digital debt collection makes strides as lenders use tech to cut visits")
Citi launches Strata Elite Card to compete with AmEx, JPMorgan Chase
The card, which is priced less than the Platinum Card and the Sapphire Reserve Card at an annual fee of USD 595, will offer points multiples for certain types of spending
 "Citi launches Strata Elite Card to compete with AmEx, JPMorgan Chase")