Page 82 - Finance News

Jana Small Finance Bank applies to RBI for transition to universal bank

Jana Small Finance Bank has applied to the RBI for voluntary transition to a universal bank, meeting key financial criteria including NPAs below regulatory thresholds for two years

Microfinance in vicious cycle of debt, high rates, warns RBI deputy guv

RBI Deputy Governor M Rajeshwar Rao warns of high interest rates, borrower over-indebtedness, and coercive recovery in India's microfinance sector, calls for urgent lender reforms

JM Financial gets 1.4 lakh sq ft of office space in Mumbai's Mulund

The ₹150-cr space allotment at Prestige Trade Centre stems from a 2020 insolvency resolution involving the defunct Ariisto Developers

Rupee closes flat ahead of US-China trade talks; ends at 85.63/$

Indian Rupee today: The domestic currency depreciated 1 paise to end at 85.63 against the dollar, after closing at 85.64 on Friday

Rupee trades weak amid mixed cues; opens slightly lower at 85.66/$

Indian Rupee today: The domestic currency depreciated 2 paise to open at 85.66 against the dollar, after closing at 85.64 on Friday

PNB, BoB, UCO cut lending rates after RBI slashes repo rate by 50 bps

After the RBI's surprise 50 bps repo rate cut, major state-run banks including PNB, Bank of Baroda and UCO Bank have reduced lending rates to boost transmission

An account of AI disruption in finance as technology reshapes work

OVER 50% of Indian accountants worry they are unable to develop skills due to frequently changing technology, according to a survey

RBI's T Rabi Sankar joins 16th Finance Commission as part-time member

T Rabi Sankar's appointment comes after Ajay Narayan Jha, one of the full-time members of the commission, stepped down due to personal reasons

GST returns to become time-barred after 3 years starting July tax period

GST outward supply returns, besides returns related to payment of the liability, annual returns and tax collected at source will become time-barred

Monetary policy: RBI cuts repo rate by 50 bps, reverses stance to 'neutral'

Announces staggered CRR reduction of 100 bps

Things 'should soon settle down': RBI on IndusInd Bank's measures

RBI says it is satisfied with IndusInd Bank's accounting clean-up post derivatives irregularities but stresses it will act if necessary and has sharpened supervision tools

Bond market sees highest volatility in 3 years on RBI policy surprises

Bond yields swung sharply after RBI's 50 bps rate cut, neutral stance, and CRR changes surprised investors, marking the most volatile day in nearly three years

Lower net FDI due to repatriation signals mature market, says RBI governor

RBI governor Sanjay Malhotra explains net FDI decline in FY25 is due to repatriation, reflecting market maturity as gross FDI rose and India remains attractive to investors

CRR at 3% seen as new normal, RBI says it's sufficient for liquidity

The cut in CRR would release primary liquidity of about Rs 2.5 lakh crore to the banking system by December 2025

Monetary policy review: LTV ratio upped for gold-backed loans up to ₹5L

New guidelines exempt small-ticket gold loans from strict credit appraisal, aiming to boost formal sector lending and ease access for rural and semi-urban borrowers

MFI stress to be steady in next few quarters: RBI Deputy Governor

RBI relaxes qualifying criteria for NBFCs to be treated as MFIs

RBI to review regulatory framework for Type-I NBFCs: Governor Malhotra

RBI Governor Sanjay Malhotra said the central bank will review and possibly introduce a separate framework for Type-I NBFCs, which do not accept public funds or have customer interface

RBI rejects Annapurna Finance's application for setting up universal bank

In a statement on Friday, the RBI said it has completed the examination of the application of Annapurna Finance Private Limited for setting-up a universal bank

RBI rejects Annapurna Finance's application to set up universal bank

RBI cites non-suitability under current guidelines as reason for turning down Bhubaneswar-based NBFC-MFI's bid for universal bank licence.

No plans to raise foreign ownership cap in banks beyond 15%: RBI Governor

RBI Governor Sanjay Malhotra has said there are no plans to raise foreign ownership in banks beyond 15% for now. A review of ownership norms is underway as India needs more banks with credible owners