Page 26 - Finance

Bank of Maharashtra raises rates on term deposits after union appeal

Senior citizens will be offered an additional rate of 0.5% per annum for all maturity slabs

Ind-Ra upgrades issuer rating for Bank of India, cites capital position

State-owned lender has since FY21 reported consistent profitability, says agency

Here's why private banks' SME credit has grown four times faster than PSBs'

Bankers say private lenders have more risk appetite, faster response times, and are aggressive on pricing

RBI open to non-bank arms route to end stalemate with ESMA: Report

The proposal came up in a meeting between RBI deputy governor T Rabi Sankar and senior officials from European banks

EnKash gets RBI's in-principle nod to operate as online payment aggregator

On Tuesday, Hitachi Payment Services and BharatPe also received in-principle authorisation to operate as payment aggregators

Bond issuance by banks to touch record Rs 1.3 trn in FY23: Report

They raised more than Rs 73,000 crore in FY22, says rating agency ICRA

JPMorgan to face lawsuit by unit of Ray-Ban maker over cyber theft

JPMorgan Chase Bank NA will have to face a lawsuit by a unit of the French maker of Ray-Ban glasses that claims the bank ignored suspicious transactions

Irdai to allow insurers to auto renew FRN of cross border reinsurers

Move aimed at improving ease of doing business; reinsurers must first meet regulator's criteria for obtaining renewal, which would be available FY24 onwards

HDFC Bank's loan book expands by 19.5%, domestic retail loans grow 21.5%

IndusInd sees 19% credit growth in Q3; deposit growth outpaces loans for HDFC Bank, YES Bank

Federal Bank's loan grows 19.1% YoY in Q3; deposits cross Rs 2 trn mark

Pace of customer liabilities expands at slower pace of 12.8 per cent YoY

Central banks may reverse rate hikes in 2023 to escape slowdown: SBI

Financial markets in 2022 have remained volatile and edgy with the central banks globally in unison in a rate hike cycle

Shriram Finance gets $100 mn funding from ADB for inclusive financing

Money will be used improve the status of underserved communities in India, other objectives

Tata Power plans to raise up to Rs 2,000 cr via bonds to finance biz ops

Tata Power's gross debt marginally rose to Rs 49,535 crore as of September this year, from Rs 47,590 crore as of March

NIIF, India's first state-backed fund, faces questions from government

Critics inside and outside the government complain that NIIF - which handles about $4.3 billion in assets - lacks vision, decisiveness and the ability to win over investors

Govt green bonds can be a gauge for pvt sector fundraise: RBI Dy Governor

'Heartening to see banks increasing green exposure'

Shriram Finance to grow its retail fixed deposits portfolio by 25%

One of the country's largest NBFC Shriram Finance Ltd plans to grow its FDs from the current Rs 32,000 cr and talks are on to raise long term funds from international markets, said Vice Chairman

Irdai to introduce 'Bima Vahaks' to expand insurance force: Rakesh Joshi

BS BFSI Insight Summit 2022: The insurance companies are also in the process of developing state-level insurance plans in collaboration with state governments, Joshi added

Some of the world's biggest economies hunting for alternatives to US dollar

Smaller nations, including at least a dozen in Asia, are also experimenting with de-dollarization. Corporates around the world are selling an unprecedented portion of their debt in local currencies

Max Financial Services promoter offloads 1.7% stake for Rs 400 cr

Max Ventures Investment Holdings, a promoter of financial services firm Max Financial Services, on Wednesday offloaded 58.85 lakh shares in the company for Rs 400 crore through an open market transaction. According to the bulk deal data available with the National Stock Exchange (NSE), Max Ventures Investment Holdings sold 58,85,000 shares (1.7 per cent) of Max Financial Services. The shares were sold at an average price of Rs 679.2 per scrip, taking the aggregate value of transaction at Rs 399.70 crore. Following the stake sale, the shareholding of promoter have come down to 13.02 per cent from 14.72 per cent. Shares of Max Financial Services closed 1.67 per cent lower at Rs 688 apiece on NSE.

To woo customers, HDFC Bank aims to issue 1 mn credit cards every month

The bank wants to double the current pace of half a million new credit card issuances every month, according to Parag Rao, country head for payments business