Page 79 - Finance News

Rupee logs best day in 30 months, rises nearly 1% against US dollar

Rupee rallies 0.9 per cent to 85.21 per dollar, its strongest one-day gain since November 2022, aided by RBI dollar sales, weaker greenback, and equity inflows

RBI board approves record surplus transfer of ₹2.69 trillion to govt

Contingent Risk Buffer range widened; Centre's fiscal maths get a booster

Some US banks explore venturing into crypto with joint stablecoin

However, the newspaper said that the bank consortium discussions are in early, conceptual stages and could change

Credit card spends rise 18% to ₹1.84 trillion in April, shows RBI data

Credit card spends surged 18 per cent YoY in April but fell 8.7 per cent from March, as issuers remained cautious on new cards due to stress in unsecured portfolios

MSME delinquencies fall to 5-year low of 1.8%: Cibil-Sidbi report

Balance-level delinquencies are measured as 90 to 720 days past due and classified as sub-standard

India's forex reserves fall $4.9 bn due to decline in gold holdings

India's foreign exchange reserves dropped by $4.9 billion to $685.7 billion in the week ended May 16 due to a sharp $5.1 billion decline in gold reserves

Finance ministry pulls up public-sector banks over staff misconduct

Ministry asks lenders to strengthen handling customer grievances following several incidents

GST Council to take up rate rationalisation issue in next meeting

A GoM headed by Minister of State for Finance Pankaj Chaudhary is looking into the future of compensation cess beyond March 2026

RBI dividend: Jalan panel recommendations hold strong, minor tweaks needed

The source said the dividend transfer so far has been calculated based on the Bimal Jalan-panel's ECF recommendations and certainly the time to review the framework has come

Six-member board to regulate payment systems: RBI notification

The Payments Regulatory Board will replace the Board for Regulation and Supervision of Payment and Settlement System

Section 54F exemption: Observe timelines for selling asset, buying another

Recent judgement emphasises that co-ownership of multiple floors in the same building does not disqualify taxpayer for this exemption under Section 54F

50-bp cut in repo leads to in reduction of 10 bps in outstanding loans

Banks have reduced their repo-linked external benchmark-based lending rates by 50 bps, the same as the quantum of rate cuts so far

RBI reviewing shareholding norms for banks, says Guv Sanjay Malhotra

While India permits 74% foreign direct investment in private banks, it restricts a single financial entity from holding more than 15% unless a regulatory exemption is granted.

Rupee opens slightly higher at 85.97/$; focus shifts to RBI dividend

Indian Rupee today: The domestic currency began the session 3 paise higher at 85.97 on Friday, after closing at over a month's low on Thursday

RBI sells $34.5 bn in FY25, highest since global financial crisis

RBI sold $34.5 billion in FY25 to stabilise the rupee amid US dollar strength, with forex reserves dipping and experts predicting record surplus transfer to government

NPCI steps up UPI vigil to prevent future disruptions in core network

Outlines operational guidelines for 10 APIs linked to UPI

Govt to have a say in new payments regulatory board with a significant role

RBI governor, as chair of the board, will have casting vote

Notes in circulation rose to Rs 34.8 trn in 2024: RBI's monthly bulletin

CAGR of notes in circulation in value terms higher than volume terms last year

RBI moots special shares for UCBs as new source to raise capital

Special Share Certificates to be issued at book value without voting or membership rights; RBI says SSCs will be classified under Tier I capital for large UCBs

Indian Rupee slips past 86 mark to close at over one-month low

Indian Rupee today: The domestic currency closed 37 paise lower at 86.01 on Thursday, marking its weakest level since April 11 this year