Page 94 - Finance News
DFS tells public sector banks to speed up CIRP filings, cut delays at NCLT
The Department of Financial Services has urged public sector banks to reduce procedural delays in insolvency filings and improve resolution timelines under the IBC
 "DFS tells public sector banks to speed up CIRP filings, cut delays at NCLT")
A, BBB-rated NBFCs face sharper slowdown amid asset quality stress
Lower-rated NBFCs face increased credit cost, lagged funding relief and rising losses in unsecured segments as overall loan growth slows down, says India Ratings
 "A, BBB-rated NBFCs face sharper slowdown amid asset quality stress")
Indian Rupee logs worst session since Feb 2023; ends 1.03% lower at 85.72/$
The currency depreciated by 1.03 per cent in today's session, making it the worst day since February 6, 2023
 "Indian Rupee logs worst session since Feb 2023; ends 1.03% lower at 85.72/$")
Currency paradox: Rupee's gain aids macro outlook; risks India Inc earnings
The currency has depreciated by over 3 per cent since March and currently trades at 84.8 against the greenback
 "Currency paradox: Rupee's gain aids macro outlook; risks India Inc earnings")
RBI bumper payout to help offset shortfall in tax revenues, say analysts
Kotak Mahindra Bank expects RBI to transfer up to ₹3.5 trillion to the government, while IDFC First Bank estimates the dividend at around ₹3 trillion for the fiscal year ending March
 "RBI bumper payout to help offset shortfall in tax revenues, say analysts")
Rupee recovers to open stronger at 84.65/$; India-Pak tensions in focus
The domestic currency opened 38 paise higher at 84.65 after ending at 84.83 against the greenback on Wednesday
 "Rupee recovers to open stronger at 84.65/$; India-Pak tensions in focus")
Exim Bank withdraws planned 10-yr bond issuance over high yield demands
The bank had planned to raise Rs 2,500 crore through 10 year bonds. The base issue size was Rs 500 crore and the green shoe option was Rs 2,000 crore
 "Exim Bank withdraws planned 10-yr bond issuance over high yield demands")
AI regulation needs global cooperation, not isolated moves: Sitharaman
Speaking in Milan, Finance Minister calls for common global framework for the technology
 "AI regulation needs global cooperation, not isolated moves: Sitharaman")
Amid India-Pak tensions, rupee sees steepest 1-day drop in a month
The rupee fell 0.47 per cent intraday amid rising India-Pakistan tensions and a stronger dollar index, before recovering partially on likely RBI-backed intervention
 "Amid India-Pak tensions, rupee sees steepest 1-day drop in a month")
RBI framework suggest impact analysis before finalising regulations
RBI's new framework proposes mandatory public consultation, impact analysis, and periodic review for significant regulations, promoting transparency in rule-making
 "RBI framework suggest impact analysis before finalising regulations")
Domestic cos may go slow on long term bond issuance plans briefly
Escalating geopolitical tensions may prompt issuers to delay long-term bond issues amid uncertainty, though RBI support is keeping yields stable for now
 "Domestic cos may go slow on long term bond issuance plans briefly")
RBI recognises FIMMDA as SRO for financial markets under new framework
FIMMDA has become the first financial market body to be recognised as a Self-Regulatory Organisation under the RBI's 2024 framework to enhance oversight and governance
 "RBI recognises FIMMDA as SRO for financial markets under new framework")
Rupee ends 38 paise lower at 84.82/$; 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
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