Page 83 - Finance News
AI regulation needs global cooperation, not isolated moves: Sitharaman
Speaking in Milan, Finance Minister calls for common global framework for the technology
 "AI regulation needs global cooperation, not isolated moves: Sitharaman")
Amid India-Pak tensions, rupee sees steepest 1-day drop in a month
The rupee fell 0.47 per cent intraday amid rising India-Pakistan tensions and a stronger dollar index, before recovering partially on likely RBI-backed intervention
 "Amid India-Pak tensions, rupee sees steepest 1-day drop in a month")
RBI framework suggest impact analysis before finalising regulations
RBI's new framework proposes mandatory public consultation, impact analysis, and periodic review for significant regulations, promoting transparency in rule-making
 "RBI framework suggest impact analysis before finalising regulations")
Domestic cos may go slow on long term bond issuance plans briefly
Escalating geopolitical tensions may prompt issuers to delay long-term bond issues amid uncertainty, though RBI support is keeping yields stable for now
 "Domestic cos may go slow on long term bond issuance plans briefly")
RBI recognises FIMMDA as SRO for financial markets under new framework
FIMMDA has become the first financial market body to be recognised as a Self-Regulatory Organisation under the RBI's 2024 framework to enhance oversight and governance
 "RBI recognises FIMMDA as SRO for financial markets under new framework")
Rupee ends 38 paise lower at 84.82/$; border tensions weigh on currency
The domestic currency opened 38 paise lower at 84.82 after ending at 84.44 against the greenback on Tuesday
 "Rupee ends 38 paise lower at 84.82/$; border tensions weigh on currency")
Indian Rupee opens 18 paise weak at 84.62/$ as India-Pak tensions escalate
The domestic currency opened 18 paise lower at 84.62 after ending at 84.44 against the greenback on Tuesday
 "Indian Rupee opens 18 paise weak at 84.62/$ as India-Pak tensions escalate")
Amex, HSBC lead foreign banks in net credit card addition in FY25
The two banks added close to 325,000 new credit cards, with the overall banking industry adding 8 million credit cards in FY25
 "Amex, HSBC lead foreign banks in net credit card addition in FY25")
Draft gold loan guidelines may slow down NBFCs' loan growth, says Crisil
The draft guidelines propose that the loan-to-value (LTV) ratio be maintained within a ceiling of 75 per cent throughout the loan tenure, including both principal and accrued interest
 "Draft gold loan guidelines may slow down NBFCs' loan growth, says Crisil")
RRBs must boost their lending in agriculture, allied activities: DFS secy
During the meeting chaired by the secretary, it was decided that the sponsor banks, in consultation with the RRBs, will draft a five-year roadmap for the latter
 "RRBs must boost their lending in agriculture, allied activities: DFS secy")
No Pakistan-related issues discussed: ADB on meeting with FM Sitharaman
Finance Ministry officials also said that there was no discussion on issues related to Pakistan with ADB President and the Italian Finance Minister
 "No Pakistan-related issues discussed: ADB on meeting with FM Sitharaman")
RBI adds 58 metric tonnes of gold in FY25; share in reserves nears 12%
RBI added nearly 58 tonnes of gold in FY25, with most stored abroad; gold now accounts for close to 12 per cent of total foreign exchange reserves
 "RBI adds 58 metric tonnes of gold in FY25; share in reserves nears 12%")
Reserve Bank of India starts cutting short dollar book after 7 months
With the rupee appreciating 4.4 per cent since February's low, RBI is letting short dollar swaps mature while infusing liquidity through OMOs to offset the impact
UPI QR codes fastest-growing payment infrastructure in FY25, shows data
In FY25, the number of UPI QR codes saw 91.5 per cent year-on-year (Y-o-Y) growth to 657.9 million, while growth in credit card slowed down to 7.94 per cent Y-o-Y
 "UPI QR codes fastest-growing payment infrastructure in FY25, shows data")
FM Sitharaman meets ADB chief, Italian FM, discusses economic issues
Sitharaman is in Milan to attend the 58th annual meeting of the Asian Development Bank (ADB)
 "FM Sitharaman meets ADB chief, Italian FM, discusses economic issues")
India sees maiden RMBS listing; NHB expects cos to raise Rs 10K cr in FY26
The National Housing Bank-promoted RDCL listed the first-ever set of securities of Rs 1,000 crore maturing in 20 years with a coupon of 7.26 per cent payable monthly, on the NSE
 "India sees maiden RMBS listing; NHB expects cos to raise Rs 10K cr in FY26")
Proptech startup Alt DRX raises $2.7 million from investors to expand biz
In a statement on Monday, the company said it has "closed its Pre-Series A funding round, raising Rs 23 crore ($2.7 million)"
 "Proptech startup Alt DRX raises $2.7 million from investors to expand biz")
Why competition in money matters can be damaging to your financial journey
Unnecessary competitiveness shifts our focus from our own destination to imagined races. It turns a fulfilling long-term journey into a relentless sprint that leaves us tired and anxious
 "Why competition in money matters can be damaging to your financial journey")
Banks remain cautious in lending to NBFCs despite risk weight reversal
Despite RBI's decision to revert risk weights on NBFC loans from April 1, banks continue to exercise caution, limiting credit access to mid-sized NBFCs and MFIs
 "Banks remain cautious in lending to NBFCs despite risk weight reversal")
Co-lending 2.0 gains ground, but earlier avatar continues to cast a shadow
The reality is that co-lending did not take off because banks and NBFCs had to dance around issues after blowouts in shadow banking, and iron out the finer aspects of the model
 "Co-lending 2.0 gains ground, but earlier avatar continues to cast a shadow")