Page 66 - Finance News

Planning to sell excess priority sector loans in Q2 FY26: MD Canara Bank

Canara Bank plans to offload excess priority sector loans in Q2 FY26 to reduce margin stress, with its priority sector lending currently exceeding regulatory norms

Indian Bank gets board's approval to raise ₹5,000 crore: MD Kumar

Indian Bank plans to raise ₹5,000 crore in FY26, with a focus on enhancing capital adequacy and introducing its own UPI app, IND-UPI. Net profit rose by 23.69% in Q1 FY26

Savings deposit rates of some PSBs at historic low, says RBI bulletin

The weighted average domestic term deposit rates for fresh deposits has declined significantly for both PSBs and private sector banks

Indian economy can grow over 6.5% in FY26 without hurdles: RBI MPC member

Nagesh Kumar said that Indian economy, among all economies, continues to remain a bright spot for the world

Fada seeks RBI intervention on private banks delaying auto loan rate cuts

In a letter to RBI Governor Sanjay Malhotra, the Federation of Automobile Dealers Associations (FADA) also called for a review of private banks' repo-rate pass-through lags in the auto-loan portfolio

Feb, Apr rate cuts fully transmitted, to help improve growth: RBI Governor

RBI governor says further rate reductions will depend on outlook for growth and inflation

Centre appoints Anuradha Thakur as director on central board of RBI

The move comes a day after Seth was named chairman of the Insurance Regulatory and Development Authority of India (Irdai)

RBI's 7-day VRRR receives significant demand due to reversal of ₹2 trillion

The RBI accepted Rs. 1.25 trillion in the 7-day VRRR auction at a cut-off rate of 5.49%, with a major uptick in demand after last week's Rs. 2 trillion reversal

Setu makes leadership appointments, hires executives from major fintechs

Setu strengthens its leadership team with experienced executives from Razorpay, PhonePe, and other fintech giants to drive growth

Forex reserves decline by $1.18 billion to $695.48 billion, shows RBI data

In the previous reporting week, the overall kitty had dropped by $3.064 billion to $696.672 billion. The reserves had touched an all-time high of $704.885 billion in end-September 2024

Sebi considers easing rules for issuers of non-convertible securities

The relaxation from sending physical copies of financials will result in cost savings and prevent paper wastage. Also, this would lead to regulatory consistency and ease of doing business

Following repo cut, PSBs reduce rates more than private counterparts

The Reserve Bank of India has already cut its key repo rate by 100 basis points in an effort to jumpstart growth in the economy

Inflation, growth outlook to guide rate cuts, not current CPI data: RBI Guv

It can be noted that the RBI has cut its key rates by 1 percentage point this year, and official data pointing to headline inflation cooling to 2.1 per cent

RBI to consider giving Section-8 MFI firms' access to credit bureaus

The lack of access to credit information leaves Section-8 MFIs in the dark about the worthiness of their clients, while allowing borrowers to exploit the arbitrage between Section-8 and mainline MFIs

RBI to hold rates in August, expected to cut again later this year: Poll

Subdued inflation has allowed policymakers room to cut rates but with the economy expanding at a rapid 7.4 per cent rate

Former Finance Secretary Ajay Seth appointed as new Irdai chairman

Ajay Seth, former finance secretary and G20 finance track lead, appointed as Irdai chairman for three years or until the age of 65, whichever is earlier

Income Tax dept working on rules for new direct tax law: CBDT chief

The chairperson of the Central Board of Direct Taxes said the department is aligning its enforcement approach with a principle of "empathy", aiming to improve voluntary compliance

Monthly RBI bulletin: Public-sector banks slashed rates more than pvt peers

RBI report says PSBs reduced lending and deposit rates more than private banks in response to 100-bps repo rate cut; economy stays resilient amid global uncertainty

RBI net bought $1.76 bn in May; forward short dollar position at $65.21 bn

Before May, the RBI was a net buyer of the greenback only in March, while it remained a net seller in January, February, and April

I-T Bill 2025: FinMin rejects demand for time limit on tax pleas' disposal

The finance ministry said the statute only provides for the time-lines and procedural requirements and the mechanism to make appellate procedure more efficient and taxpayer friendly