Page 27 - Finance
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
 "Some of the world's biggest economies hunting for alternatives to US dollar")
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.
 "Max Financial Services promoter offloads 1.7% stake for Rs 400 cr")
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
 "To woo customers, HDFC Bank aims to issue 1 mn credit cards every month")
Bond yields rise as debt auction sees weak demand; dip on weekly basis
The overall sentiment remained weak because of hawkish commentary from central bankers across the world, which dimmed the hopes of domestic interest rate cuts later in 2023, said a dealer at a bank
 "Bond yields rise as debt auction sees weak demand; dip on weekly basis")
Fed's message on rate hold for 'some time' clashes with 2023 rate-cut bets
They're also likely to signal another 50 basis points of tightening next year, according to economists, and an expectation that once they reach that peak, they'll stay on hold through all of 2023
 "Fed's message on rate hold for 'some time' clashes with 2023 rate-cut bets")
Fixed denominations vs token system: Why digital cash needs to feel real
If the payment market is cornered by a few powerful private-sector platforms, they may impose hidden charges and fees
 "Fixed denominations vs token system: Why digital cash needs to feel real")
Punjab National Bank plans Rs 1,000 cr AT-1 bond issue to shore up capital
The cost of paying coupon on tier-1 bonds, a form of debt, is less than servicing equity capital
 "Punjab National Bank plans Rs 1,000 cr AT-1 bond issue to shore up capital")
Govt may extend bid submission deadline for stake sale in IDBI Bank
January 2023 could be new date following requests from transaction advisor
 "Govt may extend bid submission deadline for stake sale in IDBI Bank")
Banks need to scale up investments in technology, says RBI's MK Jain
Financial institutions must build capacities in analytics and HR, says central bank deputy governor
 "Banks need to scale up investments in technology, says RBI's MK Jain")
RBI announces extension on HTM bond books dispensation till March 2024
Central bank decision to provide cushion for banks on government bond investments
RBI introduces single-block-and-multiple debits functionality in UPI
Feature will make payments easier for e-commerce and investments in securities
 "RBI introduces single-block-and-multiple debits functionality in UPI")
Rally in PSU banks to sustain on higher margins, loan surge: Morgan Stanley
Brokerage raises price targets for non-SBI state-owned banks
 "Rally in PSU banks to sustain on higher margins, loan surge: Morgan Stanley")
Cooling prices give Reserve Bank of India space to slow interest-rate hikes
Das will announce the rate decision through a webcast at 10 am in Mumbai on Wednesday, and will address a press conference at 12 pm.
 "Cooling prices give Reserve Bank of India space to slow interest-rate hikes")
SBI personal banking loan book up Rs-5 trn mark, helped by digital push
Next Rs one trillion of non-home retail loans by Q3FY24
 "SBI personal banking loan book up Rs-5 trn mark, helped by digital push")
'Our gross NPAs may fall below 8% this FY if there's NARCL resolution'
'After coming out of four years of losses, we want to grow qualitatively'
 "'Our gross NPAs may fall below 8% this FY if there's NARCL resolution'")
HDFC Bank likely to raise Rs 15,000 cr via tier-2 bonds, largest this FY
Lenders return to debt market as yields soften and credit demand booms
 "HDFC Bank likely to raise Rs 15,000 cr via tier-2 bonds, largest this FY")
Retail e-rupee pilot begins tomorrow: Here's what you can expect from it
The transactions using the retail CBDC can be both person-to-person as well as person-to-merchant, and payments can be made using QR codes shown at merchant locations
 "Retail e-rupee pilot begins tomorrow: Here's what you can expect from it")
Lump sum MF investments plunge in October as investors take SIP route
Flows down 64% from peak amid uncertain market conditions, valuation concerns
 "Lump sum MF investments plunge in October as investors take SIP route")
Can India's new finance hub in Gujarat become the next Singapore or Dubai?
Gujarat International Finance Tec-City, more commonly known as GIFT City, occupies 886 acres between Gujarat's capital, Gandhinagar, and Ahmedabad, its biggest city
 "Can India's new finance hub in Gujarat become the next Singapore or Dubai?")
Indian Overseas Bank, Bank of Maharashtra hike MCLR by up to 25 bps
One-year median MCLR of scheduled commercial banks has increased from 7.75 per cent in September
 "Indian Overseas Bank, Bank of Maharashtra hike MCLR by up to 25 bps")