Page 79 - Finance News
Rupee extends slide on West Asia tensions; opens lower at 86.37/$
Indian Rupee today: The domestic currency depreciated 13 paise to end at 86.37 against the dollar, the lowest level since April 9 this year
 "Rupee extends slide on West Asia tensions; opens lower at 86.37/$")
Fintech industry seeks UPI merchant discount rate levy on large sellers
MDR refers to a fee that merchants pay banks or companies processing payments for executing a transaction
 "Fintech industry seeks UPI merchant discount rate levy on large sellers")
RBI Governor's remarks soothe bond market; rupee hits 2-month low
Yields dip after RBI eases rate concerns; rupee weakens on Middle East tension, crude oil rally, and tariff fears as dollar demand from oil importers weighs
 "RBI Governor's remarks soothe bond market; rupee hits 2-month low")
IBC cases breaching resolution timeline hit 78% in FY25: Ind-Ra report
Ind-Ra notes rising resolution timelines and lowest recovery levels since FY21 under the IBC framework, cautioning this could affect bond market deepening and investor confidence
 "IBC cases breaching resolution timeline hit 78% in FY25: Ind-Ra report")
Rupee slides to two-month low on West Asia jitters; ends lower at 86.24/$
Indian Rupee today: The domestic currency depreciated 18 paise to end at 86.24 against the dollar, the lowest level since April 9 this year
 "Rupee slides to two-month low on West Asia jitters; ends lower at 86.24/$")
73% ATMs now dispense ₹100, ₹200 notes ahead of RBI's Sept 30 deadline
RBI directed banks in April 2025 to ensure 75 per cent of ATMs dispense ₹100 or ₹200 notes from at least one cassette by the September 30 deadline to improve access to small denominations
 "73% ATMs now dispense ₹100, ₹200 notes ahead of RBI's Sept 30 deadline")
Rupee gains slightly on softer crude oil prices; opens higher at 86.01/$
Indian Rupee today: The domestic currency rose 5 paise to open at 86.01 against the dollar, after closing at 86.06 on Monday
 "Rupee gains slightly on softer crude oil prices; opens higher at 86.01/$")
Banks in need of better security as payment frauds triple in value
According to the central bank's latest annual report, more than half of frauds took place in digital or card-based transactions, even though they accounted for only 1.4% of the $4 billion in scams
 "Banks in need of better security as payment frauds triple in value")
RBI releases draft regulations on rupee interest rate derivatives
According to the draft, a non-resident may undertake IRD transactions through its central treasury or its group entity, where applicable
 "RBI releases draft regulations on rupee interest rate derivatives")
State-run firms delay zero-coupon bond issues on weak investor demand
Deep-discount bonds are typically issued at a discount of over 20per cent-25per cent to their face value and do not pay interest
 "State-run firms delay zero-coupon bond issues on weak investor demand")
UPI to get faster from today; Daily caps on usage roll out from July 31
NPCI reduces UPI API turnaround times to 10 seconds; limits on balance checks, account listings, and autopay retries to be enforced across apps by end-July
 "UPI to get faster from today; Daily caps on usage roll out from July 31")
PSBs see surge in staff productivity as business per employee rises
The number of employees in most PSBs has declined over the years. Bank of India witnessed a consistent decline, falling from 52,374 in FY23 to 50,944 in FY24, and further to 50,564 in FY25
 "PSBs see surge in staff productivity as business per employee rises")
RBI seeks market views on aligning call money rate with policy repo
The policy rate currently stands at 5.50 per cent, while the overnight call rate averages 5.30 per cent and the TREPS rate hovers near 5.20 per cent
 "RBI seeks market views on aligning call money rate with policy repo")
SBI reduces interest rates by up to 50 bps following RBI's rate cut
With the latest round of reduction, the Repo Linked Lending Rate (RLLR) of SBI would come down by 50 basis points to 7.75 per cent
 "SBI reduces interest rates by up to 50 bps following RBI's rate cut")
What works in central banking? Striking a balance between talk and action
The latest monetary policy has also gone for a 50-basis-point rate cut, double the anticipated reduction
 "What works in central banking? Striking a balance between talk and action")
Rupee extends decline as oil prices soar; opens 10 paise lower at 86.18/$
Indian Rupee today: The domestic currency fell 10 paise to open at 86.18 against the dollar, after closing at 85.08 on Friday
 "Rupee extends decline as oil prices soar; opens 10 paise lower at 86.18/$")
Rupee underperforms Asian peers in June so far despite weak US dollar
The rupee remained one of Asia's worst-performing currencies in June amid foreign fund outflows from debt, weak equity inflows, rising oil prices and geopolitical stress
 "Rupee underperforms Asian peers in June so far despite weak US dollar")
Microfinance industry refashions itself amid opportunities and challenges
Central bank has taken a sympathetic view of institutions by easing some lending norms
 "Microfinance industry refashions itself amid opportunities and challenges")
Unaccounted income invested in Virtual Digital Assets on CBDT radar
Such entities and individuals which are engaged in Virtual Digital Asset (VDA) transactions and have failed to comply with the Income-tax Act, 1961 have been identified for verification, sources said
 "Unaccounted income invested in Virtual Digital Assets on CBDT radar")
Rupee weakens to 2-month low as crude surges on West Asia tensions
Rupee falls sharply to ₹86.09 per dollar amid rising crude prices due to Israel-Iran conflict; RBI intervenes as Brent jumps 11%, FX reserves touch $697 billion
 "Rupee weakens to 2-month low as crude surges on West Asia tensions")