Page 28 - Finance

Forex cover for imports may fall to lowest this year under Modi govt

There could be $27.7 billion dollars of withdrawals in the next five months

PSBs' Q2 net profits zoom 50% YoY on steady rise in interest income

Strong loan growth, rising lending rates give the boost

MF penetration: Maharashtra, Delhi in lead; Jharkhand in top 10

Industry insiders say MFs have gained better traction in Jharkhand due to presence of a large salaried class and strong distributor network

Credit risk not being fairly priced in by banks, says SBI report

Credit demand at decadal highs and liquidity remains significantly downsized, says research

For first time in decades, cash in circulation dips in Diwali week: Study

Technology changing how Indians make payments; trend will help monetary transmission: SBI Research

YES Bank to transfer Rs 48,000 cr stressed loans to JC Flowers by end Nov

Lender said in July gross NPA ratio would dip below 2% after transfer to asset reconstruction company

RBI's MPC to explain first inflation miss since 2016 to government today

This is the first time the Reserve Bank of India is writing such a letter after the country switched to a flexible inflation-targeting regime and formed a committee in 2016 to set interest rates

Bankers take to streets with megaphones, enlist grocers to lure customers

Rising loan demand from companies and consumers has pushed annual credit growth to a decade high of 17.95% as of October, compared to a five-year average of 9.7%

Who are the mystery buyers responsible for central bank gold boom?

Almost 400 tons were scooped up by central banks in the third quarter, more than quadruple the amount a year earlier, according to the World Gold Council

RBI starts pilot of its digital currency, allows 9 banks to use it

The e-rupee is set to be test launched within a month for retail use in select locations and users, the Reserve Bank of India had said in a statement Monday

Irdai sets up consultative committee to increase health insurance

15-member panel asked to identify challenges for health insurance business

Subprime borrowers must keep credit utilisation ratio under check

They must also avoid applying for too many loans within a short span

Back to the 1950s: State to lead investment and higher taxes to fund it

The reason for higher taxation is the inability of the private sector to invest on the scale required to satisfy the minimum thresholds of political and social needs. We are back to the 1950s

Centre unlikely to infuse any capital into the PSBs in FY23: Report

Between FY16 and FY21, the government infused Rs 3.3 trillion into PSBs helping the banks in improving their balance sheets and the capital-to-risk-weighted assets ratio (CRAR)

PSBs to soon have a helpline for customer grievance redressal: Report

This comes against the backdrop of a large number of complaints by customers over non-operating helpline numbers of several branches of PSBs in India

Bank credit growth rises to 17.94% YoY in early Oct, shows RBI data

Deposit growth not that impressive, increases by 9.62% to Rs 172.72 trn

Union Bank Q2 net up 21.07 per cent to Rs 1,848 crore on a YoY basis

Its net interest margin (NIM) improved to 3.15 per cent in Q2FY23 from 2.95 per cent in Q2FY2

Canara Bank Q2 profit jumps 89% to Rs 2,525 cr, asset quality improves

State-owned lender's gross global advances up 20% YoY to Rs 8.24 trn; retail lending portfolio grows 12.5%

SBI hikes interest rate on savings deposits above Rs 10 crore by 30 bps

The deposits will attract an interest rate of 3%, effective Oct 15. Balances up to Rs 10 cr to earn 2.7% interest

India's policy hawk sees end of aggressive hikes amid growth fears

India's most hawkish rate-setter said the policy rate was reaching a level that allows past aggressive action to cool inflation without inflicting too much pain on the economy