Browsing Category
Banking & Finance
Sebi cancels registration of 39 stock brokers, seven commodity brokers
MUMBAI: The markets watchdog Sebi has cancelled the registration of as many as 39 stock brokers and seven commodity brokers for not meeting their registration requirements apart from cancelling the registration of 22 depository participants…
Final guidelines on project loans in two to three months – RBI
MUMBAI: The final guidelines for project loans, which seek to mandate lenders to make higher provisions, are expected to be announced in the next two to three months, and so are the expected credit loss-based provisioning norms, according…
Challenges galore for new SBI chairman Setty
MUMBAI: Challa Sreenivasulu Setty, who took charge as chairman of SBI on Wednesday, faces many a challenge as his three-year term gets underway. First comes the task of maintaining asset quality, which is at a decadal best for the nation's…
Airtel Payments Bank unveils NCMC-Enabled smartwatch with RuPay Chip
NEW DELHI: Airtel Payments Bank, in collaboration with Noise and NPCI, has announced the launch of its cutting-edge NCMC-enabled smartwatch, integrated with the RuPay chip.
An NCMC-enabled smartwatch is a traditional smartwatch equipped…
Small finance banks to grow their advances by 25-27 % this fiscal
MUMBAI: Small finance banks (SFBs) are expected to grow their advances by a robust 25-27 percent this fiscal, a tad lower than the previous fiscal’s 28 percent growth boosted by their geographical expansion.
Amid challenges in mobilizing…
RBI to launch Unified Lending Interface to provide ‘frictionless credit’
MUMBAI: The Reserve Bank is piloting an application for frictionless credit —Unified Lending Interface (ULI). It will be launched nationwide soon and will become the UPI on the credit side, Governor Shaktikanta Das said.
The new…
Financial sector FPIs pull Rs 23,000 crore over credit-deposit gap concerns
Mumbai: The financial services sector witnessed outflows to the tune of Rs 23,000 crore by foreign portfolio investors (FPIs) between July 16 and August 15, according to National Securities Depository Ltd (NSDL) data.
While in the first…
REC signs MoU with JNPA for financing Rs. 45,000 Cr
New Delhi: REC Limited, Maharatna PSU and a leading NBFC, signed an MoU with Jawaharlal Nehru Port Authority (JNPA) for financing upto Rs. 45,000 Cr for various upcoming projects of JNPA, which includes development of Vadhavan Port, says a…
Switzerland moves towards cashless future with instant payments
GENEVA: Switzerland's new instant payment system will bolster the future of cashless payments in the country, the Swiss central bank said Wednesday after the scheme went live.
The Swiss National Bank said around 60 financial institutions…
Sebi paper recommends rights issue as a preferred fund-raising tool
Mumbai: The capital market regulator Securities and Exchange Board of India (SEBI) has on Tuesday brought out a consultation paper on expediting the process of rights issues recommending the same as a preferred tool of fund raising.
The…
‘Rural spend, demand will lead to pvt capex growth’
MUMBAI: With the revival of the much-delayed rural consumption on the back of growing income, aggregate demand conditions are gathering momentum, which in turn will lead to the revival of private capex, says the RBI bulletin for July.…
Sitharaman urges PSBs to enhance deposit growth
NEW DELHI: The slow growth in bank deposits again came up for discussion as finance minister Nirmala Sitharaman raised the issue with the chief of public sector banks (PSBs) during a review meeting in New Delhi on Monday. During the…
Mid-tier banks boost fixed deposit rates to 8.50%
MUMBAI: Borrowing a leaf from their larger peers who have been wooing depositors with attractive pricing for medium-term fixed deposits of up to 7.30% return per annum, several mid-tier banks are now doing the same offering as much as 8.50%…
SBI hikes lending rate by 10 bps across tenors
NEW DELHI: State Bank of India, the country's biggest lender, has raised the Marginal Cost of Funds-based Lending Rate (MCLR) by 10 basis points (0.1 percentage point), across tenors, making most of the consumer loans costlier. This is the…
State Bank raises rates on loans by 10 basis points
The bank has increased its overnight rate by 10 bps to 8.2%, one-month rate to 8.45%, three-months to 8.5%, six months to 8.85%, one-year to 8.95%, two-years to 9.05%, and three years to 9.10%.
Finance Ministry declines further comment on Hindenburg allegations against Sebi chairperson
Economic Affairs Secretary Ajay Seth stated that the government has no additional comments on the Hindenburg allegations, emphasizing that Sebi and the individuals involved have already addressed the matter.
RBI tweaks norms, home loans may get cheaper
At the same time, the regulator segregated risk weights for standard and stressed commercial real estate--residential buildings.
Hindenburg Research report: Left parties seek SEBI chief resignation
The revelations have exposed that the BJP’s tirade against corruption is only lip-services and they are involved in protecting the Adani Group at all levels, said CPI General Secretary, D Raja.
Yes Bank aims to ramp up growth capital, margins
As much as Rs 44,000 crore are tied up in the RIDF now for not achieving the mandated PSL targets in the previous four fiscals since the bankruptcy of the bank, he said.
Banks should bring in innovative products to mobilise deposits: FM Nirmala Sitharaman
RBI Governor Shaktikanta Das while unveiling the bi-monthly monetary policy earlier in the week, also had expressed concern of deposit-lending mismatch in the banking sector.