Page 8 - Finance News
Digital payments boost fintech growth; wealth-tech leads profit pool
Sector's earnings jumped 22% in FY25 to ₹1.03 trillion
 "Digital payments boost fintech growth; wealth-tech leads profit pool")
Paytm to reward shareholders with maiden bonus issue in 25 years
Paytm will consider its first-ever bonus share issue on July 20 after reporting its maiden annual profit, alongside Q1 FY27 earnings and growth guidance
 "Paytm to reward shareholders with maiden bonus issue in 25 years")
CBDT notifies Cost Inflation Index for FY2026-27 at 384. What it means
A higher index means the inflation-adjusted cost of acquiring an asset will be higher than it was in FY26
 "CBDT notifies Cost Inflation Index for FY2026-27 at 384. What it means")
Rupee slips 6 paise to 96.31 against US dollar during early trade
At the interbank foreign exchange, the rupee opened at 96.28 against the greenback before slipping further to 96.31 from its previous close
 "Rupee slips 6 paise to 96.31 against US dollar during early trade")
Banks courting corporate clients for merger and acquisition financing
Banks are pitching M&A financing to corporate clients after RBI's new norms, setting the stage for stronger competition with private credit funds
 "Banks courting corporate clients for merger and acquisition financing")
Banks alone can't fund Viksit Bharat; bond market must step up: Crisil
Crisil says India's debt capital market must deepen to support the Viksit Bharat vision, with India Inc expected to require Rs 130-140 trillion in debt funding over FY27-31
 "Banks alone can't fund Viksit Bharat; bond market must step up: Crisil")
RBI proposes stricter data governance framework for banks, NBFCs
The RBI has proposed a comprehensive data governance framework for banks and NBFCs, focusing on customer consent, data quality, third-party sharing and board oversight
 "RBI proposes stricter data governance framework for banks, NBFCs")
Low retirement savings prompted minimum PF balance rule, says EPFO
EPFO said nearly half of EPF members retire with just Rs 10,000-20,000 in their provident fund accounts, prompting the introduction of a mandatory minimum balance under the new scheme
 "Low retirement savings prompted minimum PF balance rule, says EPFO")
India, UAE central banks meet to discuss foreign-currency deposit issues
The RBI and UAE central bank are discussing regulatory hurdles as India seeks to attract more foreign-currency deposits from NRIs to strengthen forex reserves
 "India, UAE central banks meet to discuss foreign-currency deposit issues")
Rupee ends flat as merchant bids, oil blunt comfort from modest inflows
The rupee closed at 96.2550 per dollar, little changed from its close at 96.20 in the previous session
 "Rupee ends flat as merchant bids, oil blunt comfort from modest inflows")
Rupee rises 5 paise to 96.11 against US dollar during early trade
At the interbank foreign exchange market, the rupee opened at 96.12 and inched up to 96.11, up 5 paise from its previous close
 "Rupee rises 5 paise to 96.11 against US dollar during early trade")
Rupee breaches 96/$; 10-year bond yield rises 6 bps on oil price surge
The rupee weakened beyond 96 per US dollar while the benchmark 10-year bond yield rose 6 basis points as higher crude oil prices and inflation concerns weighed on markets
 "Rupee breaches 96/$; 10-year bond yield rises 6 bps on oil price surge")
RBI proposes one-time nod for MFs, insurers to raise bank stakes
The central bank has proposed a one-time approval mechanism for mutual funds, insurers and pension funds to acquire major shareholding in banks, replacing repeated approvals
 "RBI proposes one-time nod for MFs, insurers to raise bank stakes")
NBFC education loans may grow 20% in FY27 despite US slowdown: Crisil
NBFC education loan portfolios are expected to reach Rs 94,000 crore in FY27 as growing diversification across study destinations offsets weaker demand for US-focused education
 "NBFC education loans may grow 20% in FY27 despite US slowdown: Crisil")
Leverage advanced tech to reduce costs, RBI Governor Malhotra tells banks
Takes stock of FCNR (B) deposit mobilisation
 "Leverage advanced tech to reduce costs, RBI Governor Malhotra tells banks")
India draws nearly $10 billion under RBI's deposit drive to support rupee
The RBI announced a zero-cost foreign-exchange swap facility at its June 5 policy meeting for deposits raised from non-resident Indians, allowing banks to offer higher returns on such deposits
India asks state-owned banks to step up foreign currency deposits
The Centre has asked state-run banks to intensify efforts to mobilise NRI deposits as policymakers seek to strengthen foreign exchange reserves
 "India asks state-owned banks to step up foreign currency deposits")
Rupee falls 48 paise to 96.16 against US dollar during early trade
At the interbank foreign exchange market, the rupee opened at 95.95 then lost ground and touched 96.16 registering a fall of 48 paise from its previous close
ATM cash-loading staff call strike in some states demanding wage revision
A strike by cash-loading staff of cash management companies may disrupt ATM cash replenishment in several states as workers press for higher wages
 "ATM cash-loading staff call strike in some states demanding wage revision")
Strong funding demand lifts bank, commercial paper borrowings in Q1
In June alone, CP issuances climbed to a 55-month high of ₹2.55 trillion, largely driven by refinancing of maturing papers
 "Strong funding demand lifts bank, commercial paper borrowings in Q1")