Page 22 - Finance

RBI removes restrictions on individuals from opening interest-earning FCAs

The long-awaited amendment by the RBI now puts IFSC at par with other jurisdictions when it comes to remittances

First Republic Bank plans $100 bn asset sale to shore up balance sheet

In addition to selling assets, the bank also plans to focus on loans that can be sold on the secondary market

Bank of America profit rises as it cashes in on higher interest rates

Bank of America's net interest income, which reflects how much money the bank makes from charging interest to customers, rose 25% to $14.4 billion in the quarter

BlackRock's assets seen topping $15 tn in 5 years' time: Morgan Stanley

The gains are likely to continue, according to Morgan Stanley analyst, raising BlackRock's price target to $861 from $829, the second-highest among analysts tracked by Bloomberg

SME loan defaults to rise for NBFCs in the coming quarters: Moody's

Hardening interest rates, cost pressures make SMEs vulnerable

The F word in Indian banking

At the moment, banks give an opportunity of hearing to wilful defaulters but not fraudsters

DFS urges states, UTs to deepen micro-insurance schemes in 3-mth campaign

Currently, active enrolments under PMJJBY and PMSBY stand at 83 million and 239 million, respectively, and claims of about Rs 15,500 crore have been paid under both schemes

Wealth creation is simple but not easy, requires discipline

Clients often fall back into old habits and require motivation to stay on track. Financial planning professionals also provide support during in inevitable setbacks

Fasten your seat belts: The switch to Fintech 2.0 has just begun

A shakeout among fintech firms is very likely, as the stress on governance and compliance is set to go up many notches

LIVE: We will work towards inflation target of 4%, says RBI Governor

Catch all the updates of the live address by Reserve Bank of India's Governor Shaktikanta Das on the decision by the Monetary Policy Committee on repo rate

Stronger buffers for Indian bank deposits as world faces financial crisis

Customer confidence may improve if recovery time, insurance coverage is better

Make part-prepayments to cut home loan tenor, but don't use retirement fund

Another option is to switch to another lender who is willing to refinance at a lower rate

Investment banker Sudha Shivkumar is now president of Ficci women's wing

As 40th President of FLO, she will focus on empowering women by facilitating an enabling environment that promotes entrepreneurship, industry participation and economic development of women

From insurance policies to MFs, here are the new tax rules from April 1

What changes: Tax on proceeds from high-value insurance policies, higher tax on debt MFs and more

Capital adequacy ratio norms enforcement for UCBs advanced to FY23-end

According to UCB executives, the RBI's move may put banks in a difficult position as only a few days are left to refigure the norms' enforcement

Government asks state-run banks to conduct more robust stress tests

The matter was reviewed at a March 25 meeting of the bank leaders with Finance Minister Nirmala Sitharaman, who met to discuss progress of a reform agenda for the lenders

EPFO fixes 8.15% interest rate on employees' provident fund for FY23

Fund paid 8.1% interest rate to subscribers in 2021-22, marking a four-decade low

EPFO board meet on Monday: Interest rate, higher pension top agenda

The meeting is also likely to focus on the steps to widen the social security organisation's coverage to embrace about 100 million workers and address the dip in its corpus

Why debt funds may still score over bank FDs and bonds despite tax parity

Experts feel debt MFs will be more relevant in a falling interest scenario and work well for those who aren't sure about their investment horizon

Bank failures: When it comes to regulation West can learn plenty from India

The West can learn from India the art of keeping a balance between the asset and liabilities sides. But it won't