Crypto Bill should look at capping foreign currency exposure, registering authorised dealers: IndiaTech

Reporting mechanisms and authority for suspicious transaction reporting by crypto exchanges will also be necessary, says CEO Rameesh Kailasam from Business Line - Money & Banking https://ift.tt/3nWRl...

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Cryptocurrency firms say no plan B as of now

The Cryptocurrency and Regulation of Official Digital Currency Bill seeks to prohibit all private cryptocurrencies in India but allows for exceptions to promote the underlying technology from Business Line - Money & Banking https://ift.tt/3rfkd...

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Indusind Bank's Hindujas welcome RBI move to up promoter holding to 26%

The RBI on Friday came out with revised guidelines on private sector banks, allowing for 26 % promoter ownership but did not go ahead with an internal working group's recommendation to allow corporates to promote banks after protests from various quarters including former governors. from Banking/Finance-Industry-Economic Times https://ift.tt/3cRkP...

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El Salvador ‘bought the dip’ and purchased 100 extra bitcoins

In September, El Salvador became the world’s first nation to adopt bitcoin as legal tender from Business Line - Money & Banking https://ift.tt/3DZeW...

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Suumaya Corporation drags GST authorities to court over their power to arrest

The company has challenged the constitutional validity of the tax department’s right to make arrests in cases where GST is exempt, as in the case of the agro products company. from Banking/Finance-Industry-Economic Times https://ift.tt/3xrvH...

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WhatsApp wins approval to double payments offering to 40 million users in India

The NPCI had given WhatsApp approval to start its payments service in 2020 from Business Line - Money & Banking https://ift.tt/3HXTd...

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Corporate exclusion from banking shrinks buyer pool for PSBs

The Reserve Bank of India’s decision to keep corporates away from bank licences will help the government sidestep allegations that it is selling banks to big business. However, the number of prospective buyers for public sector banks will shrink. from Banking/Finance-Industry-Economic Times https://ift.tt/2ZqTB...

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RBI norms: No bank licences for large corporates yet

The central bank has also not accepted a recommendation to allow well-run, large NBFCs, including those owned by a corporate house, to become banks. Both suggestions, it said, on Friday, are “under examination”. from Banking & Finance – The Financial Express https://ift.tt/3xqiq...

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PSB privatisation: New Bill may provide for 26% minimum govt holding

While the draft Bill provides for the lower shareholding, a final call will be taken by the Cabinet, which will clear the Bill before it can be introduced in Parliament, added the source. from Banking & Finance – The Financial Express https://ift.tt/3ld0v...

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RBI imposes ₹1 crore penalty on SBI

Statutory inspections for supervisory evaluation revealed contravention of sub-section (2) of section 19 of the BR Act from Business Line - Money & Banking https://ift.tt/3lazN...

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Bank of Maharashtra eyes a total business size of ₹5-lakh crore by the end of FY24

MD & CEO AS Rajeev says, based on efficiency parameters, the public sector bank will be among the top 3 Banks by March-end 2022 from Business Line - Money & Banking https://ift.tt/3p36Y...

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Metro branches bring life back in bank credit growth

Credit-deposit ratio for metropolitan branches stood at 82.8 per cent in September against 88.4 per cent a year ago, reflecting the fact that deposit mobilisation outpaced lening growth. All-India credit-deposit ratio dipped to 70 per cent from 72 per cent over the same period. from Banking/Finance-Industry-Economic Times https://ift.tt/3r8K5...

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Save Solutions acquires New Habitat Housing Finance for Rs 74 crore

The Bihar-head quartered company is working to offer its customers all-around financial products by also adding housing loans to the equation. Besides Bihar, the company will simultaneously extend its reach to other states including Delhi-NCR and UP. from Banking/Finance-Industry-Economic Times https://ift.tt/2ZufO...

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RBI imposes Rs 1 crore fine on State Bank of India

The action by RBI is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers, RBI said. from Banking/Finance-Industry-Economic Times https://ift.tt/3r9Wm...

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SEBI ignores the rule of ‘acted in good faith’

To penalise SBI nominee Raut on AIPL board from Business Line - Money & Banking https://ift.tt/3xqre...

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A sudden and complete ban on crypto trading unlikely: Experts

Experts point out that previous versions of the cryptocurrency bill had a 90-day transition period for cryptocurrency holders from Business Line - Money & Banking https://ift.tt/3r6sg...

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Bank of Baroda raises ₹1,997 crore via AT-1 bonds

The Bank has allotted the bonds to 21 investors from Business Line - Money & Banking https://ift.tt/3cSJ1...

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Private bank ownership: RBI accepts recommendations of internal working group

Cap on promoter stake to be hiked to 26 per cent from current 15 per cent from Business Line - Money & Banking https://ift.tt/3p5QJ...

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Exim Bank commits $100 million loan for Covid vaccines in FY 22

The loans for vaccines are also being extended to other countries from Business Line - Money & Banking https://ift.tt/32BIK...

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50,000 jobs at stake as govt brings laws to regulate cryptocurrencies

India now has 15 home-grown crypto currency exchange platforms, consisting of more than 10 crore investors from Business Line - Money & Banking https://ift.tt/3139D...

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Crypto prices stable in India as investors await details of new Bill

Bitcoin’s price had slightly gone up by 0.21%, Shiba Inu’s price increased by 4.2%, Tether was up by 2.45%, Ethereum was up by 6.1% and Basic Attention Token (BAT) jumped by 32.6% from Business Line - Money & Banking https://ift.tt/3DZ9h...

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ESAF Bank launches electric vehicle loan scheme ‘Go green’

ESAF Go green loans are available at low-interest rate, zero foreclosure charges, minimal processing fee and zero documentation charges from Business Line - Money & Banking https://ift.tt/3HS9Y...

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Getting Ready For The IPO Journey

from Banking/Finance-Industry-Economic Times https://ift.tt/3E1k7...

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‘The insurance sector and governments need to coordinate to hedge natural disaster risks’

Soumya Kanti Ghosh, Group Chief Economic Adviser, calls for a solution that involves public-private participation in the form of a National Disaster Pool from Business Line - Money & Banking https://ift.tt/3xnrT...

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Global investors queue up for LIC IPO anchor book

Blackstone, BlackRock, Abu Dhabi Investment Authority, Govt of Singapore Investment Corp and Capital International are understood to have held preliminary discussions. from Banking/Finance-Industry-Economic Times https://ift.tt/3xpK1...

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Bank privatisation not in one go, govt may retain at least 26% in 2 PSBs

Finance minister Nirmala Sitharaman had announced the privatisation of two state-run banks as part of the government's disinvestment programme in her February budget speech. from Banking/Finance-Industry-Economic Times https://ift.tt/3HXny...

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Global investors queue up for LIC IPO anchor book

Blackstone, BlackRock, Abu Dhabi Investment Authority, Govt of Singapore Investment Corp and Capital International are understood to have held preliminary discussions. from Banking/Finance-Industry-Economic Times https://ift.tt/3HTHa...

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Cleaning up legacy book top priority; aim to grow gold loans, says Murali Ramakrishnan, MD & CEO, South Indian Bank

The total slippages I am expecting for the fiscal is Rs 2,300-2,500 crore. We had slippage of Rs 879 crore in Q1 and Rs 531 crore in Q2. from Banking & Finance – The Financial Express https://ift.tt/3cLrw...

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Government to amend banking laws to facilitate privatisation of two PSU banks

The Banking Laws (Amendment) Bill, 2021, to be introduced during the session is expected to bring down the minimum government holding in the PSBs from 51 per cent to 26 per cent, sources said. from Banking/Finance-Industry-Economic Times https://ift.tt/3FRqT...

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One 97 Communication’s Paytm Payments Bank explores possibilities for conversion into SFB

Founder and CEO says becoming a small finance bank would solve a lot of payment problems from Business Line - Money & Banking https://ift.tt/3DTr4...

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Cryptocurrencies are back in the limelight

Crypto prices recovered by nearly 10% or more following Wednesday’s plunge of 15-20% from Business Line - Money & Banking https://ift.tt/3DTt3...

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Kerala HC admits petition against Banking Regulation Act amendments

The petitioners — Tiruvalla East Co-operative Bank and Guruvayur Cooperative Urban Bank — contend that the amendments transgress the provisions of the Kerala Cooperative Societies Act from Business Line - Money & Banking https://ift.tt/3DS7O...

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Only a handful of cryptocurrencies that exist today likely to survive: Raghuram Rajan

Raghuram Rajan compared the current mania in cryptocurrencies to the tulip mania in the Netherlands in 17th century from Business Line - Money & Banking https://ift.tt/3cK7Z...

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Explainer: Digital currency vs cryptos – how are they different?

The Centre’s plans to ban cryptocurrencies but introduce an official, digital currency. There is some confusion on the differences between the two – t from Business Line - Money & Banking https://ift.tt/30QoF...

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Fearing ban, crypto prices crash

Exchanges rush to calm investor frenzy over social media from Business Line - Money & Banking https://ift.tt/30Plh...

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Karbon Card expects to see 10x growth in Gross Transaction Value in December

The Y Combinator-backed fintech provides corporate credit cards to small businesses and startups from Business Line - Money & Banking https://ift.tt/30RUw...

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Annapurna Finance announces equity infusion of $20 million from Germany-based DEG

Microlender will use the investment by the development finance institution to boost its financial inclusion objectives from Business Line - Money & Banking https://ift.tt/2Zl7T...

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How fintech apps have helped in financial inclusion

With mobile becoming an integral part of our daily life and its reach in every nook and corner of India coupled with high-speed internet, nothing seems unreachable and unwished. from Banking/Finance-Industry-Economic Times https://ift.tt/3xtBz...

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Bajaj Allianz General 4th insurer to offer drone cover

HDFC Ergo was the first insurer to launch a drone insurance cover in June 2020, followed by ICICI Lombard in August 2021, and Tata AIG last month. All these insurers offer a comprehensive insurance wherein an operator can opt for both hull and liability covers, for any commercial usage permitted by the aviation watchdog DGCA. from Banking/Finance-Industry-Economic Times https://ift.tt/3cMCe...

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IL&FS completes stake sale in Terracis Technologies, resolves Rs 1,275 cr debt

Earlier, Infrastructure Leasing and Financial Services (IL&FS) said it has completed the sale of its 71.84 per cent stake in IL&FS Prime Terminals FZC to VTTI Terminal I BV. from Banking/Finance-Industry-Economic Times https://ift.tt/3cKLR...

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Annapurna Finance raises $20 million equity from German DEG

This is Annapurna's second equity infusion in as many years. Annapurna had raised $30 million equity from US-based Nuveen Global Impact Fund in March 2021. from Banking/Finance-Industry-Economic Times https://ift.tt/313kh...

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Crypto should be allowed only as an asset: IAMAI

IAMAI believes a blanket ban on cryptocurrencies will encourage non-state players thereby leading to more unlawful usage of such currencies from Business Line - Money & Banking https://ift.tt/313nt...

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4 reasons why you need to switch to a digital bank

with Airtel Payments Bank, consistent rewards is a way of banking. People earn rewards on shopping, transactions, and so much more. So, rather than scouting for the next big deal, earn more from your transactions and payments. from Banking/Finance-Industry-Economic Times https://ift.tt/3HUxC...

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Crypto currencies recover, back in the green on Indian exchanges

Top Crypto tokens have recovered nearly 10 per cent or more from yesterday’s plunge of 15-20 per cent from Business Line - Money & Banking https://ift.tt/3l4sI...

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RBI tweak will lead to more NPAs for non-banking lenders: ICRA

Housing finance companies seen among those likely to be hit in the near term from Business Line - Money & Banking https://ift.tt/3nPPs...

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Bajaj Allianz General Insurance partners with TropoGo for drone insurance

The drone insurance product will cover damage to the Drone, Payload with additional covers for BVLOS, Night flight from Business Line - Money & Banking https://ift.tt/30UO0...

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Private credit can be $89 bn opportunity in next five years: Report

Stressed asset investment opportunities over next five years, emanating from existing stock of unresolved NPAs, fresh credit defaults, and special situation opportunities can be worth approximately USD 25 billion, the report by consultancy EY said. from Banking/Finance-Industry-Economic Times https://ift.tt/3oXRP...

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Scripbox announces wealth management services tailored to defence personnel

This will help them to be financially savvy and future ready, says Scripbox from Business Line - Money & Banking https://ift.tt/3l6pD...

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PCHFL and API Holdings partner for financing solutions in healthcare

PCHFL to provide financing solutions to consumers in the API Holdings’ healthcare ecosystem through digital platform Retailio from Business Line - Money & Banking https://ift.tt/32ywL...

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Fed officials express resolve to address inflation risks

Fed votes to roll back massive support it provided to the US economy during Covid from Business Line - Money & Banking https://ift.tt/3FFRC...

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Niti Aayog suggests setting up of full-stack ‘digital banks’

In a discussion paper, Niti Aayog examines the global scenario, and based on the same, recommends a new segment of regulated entities — full-stack digital banks. from Banking & Finance – The Financial Express https://ift.tt/3HOjH...

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Security receipts for past NPAs appear as lenders seek to avoid provisioning

Executives from the stressed assets industry said SRs issued during non-performing asset (NPA) sales are now expected to be put up for sale, as for many of them, recoveries have not happened and erosion in the net asset value (NAV) may demand additional provisioning. from Banking & Finance – The Financial Express https://ift.tt/3l5NU...

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RBI imposes ₹2 cr penalty on Tata Communications Payment Solutions

The penalty was for non-compliance with directions RBI issued under the Payment and Settlement Systems Act, 2007 from Business Line - Money & Banking https://ift.tt/3DOcE...

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Capri Global and Union Bank to co-lend to MSMEs

The co-lending agreement aims to enhance last-mile credit by offering secured loans between ₹10 lakhs to ₹1 crore from Business Line - Money & Banking https://ift.tt/3p0rQ...

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TRAI proposes nil charges on USSD

Currently, regulator has capped price of a USSD session at 50 paise from Business Line - Money & Banking https://ift.tt/3l25c...

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BoB’s arm launches credit card powered by mobile app

BoB’s arm BFSL partners with OneCard to launch mobile-first credit card from Business Line - Money & Banking https://ift.tt/3nO2q...

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Central Bank of India, Indian Overseas Bank close sharply higher on disinvestment buzz, banks deny having knowledge on the matter

Earlier in the Union Budget Finance minister Nirmala Sitharaman announced that two public sector banks would be privatised this financial year. from Banking/Finance-Industry-Economic Times https://ift.tt/3HTH9...

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RBI imposes penalties on TCPSL, ATPL

"It was observed that TCPSL was non-compliant with the directions issued by RBI on White Label ATM deployment targets and net-worth requirement. ATPL was non-compliant with the directions issued by RBI on maintenance of escrow account balance and net-worth requirement," it said. from Banking/Finance-Industry-Economic Times https://ift.tt/3HSih...

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Trai proposes cutting USSD charges for mobile banking to zero

The USSD (Unstructured Supplementary Service Data) is a service that uses a short code for making transactions or inquiries. Since it does not need a data connection, the service is used by a large majority of people, primarily feature phone users, and is therefore also used as a medium for no-frills banking transactions. from Banking/Finance-Industry-Economic Times https://ift.tt/3FLav...

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Sundaram Finance raises ₹200 cr in third tranche of High Yield Secured Real Estate Fund

The third series will invest in senior secured credit of real estate developers based out of South India from Business Line - Money & Banking https://ift.tt/3cFPL...

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View: Two tremendous transitions too soon for digital payments industry

Industry players need a breather after recurring payments revamp. Given that extensive technological, operational and integrational aspects need to be developed, tested and deployed in the payments ecosystem, the RBI should consider a transitional timeline of 6-12 months for solutions such as tokenization to be implemented. from Banking/Finance-Industry-Economic Times https://ift.tt/3l4si...

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World of phygital banking will be way forward: Bankers

City Union Bank Managing Director and CEO N Kamakodi said that though the older generations are much comfortable with the manual banking channel, many of them are now trying to use the digital channel also. from Banking/Finance-Industry-Economic Times https://ift.tt/3HP7G...

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Crypto asset investors in the country should stay calm: CoinSwitch Kuber CEO

‘We shall follow the directions provided by the government’ from Business Line - Money & Banking https://ift.tt/3nLK9...

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CARE Ratings revises ratings of AT I Bonds of 4 public banks

Includes Canara Bank, Indian Bank, Punjab National Bank and Union Bank of India from Business Line - Money & Banking https://ift.tt/3l564...

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JM Financial’s NBFC arm launches digital investment platform

Bondskart.com offers investors a data-driven technology platform and in-house analytics from Business Line - Money & Banking https://ift.tt/3DPQ3...

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Indifi raises ₹140 crore in series D equity, ₹200 crore debt funding

Fintech offers MSMEs loans tailored to their business segment from Business Line - Money & Banking https://ift.tt/3cFZM...

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Exchanges on tenterhooks as they await details of proposed cryptocurrencies Bill

Prices of cryptocurrencies including Bitcoin, Ethereum, Shiba Inu and Dogecoin dip sharply from Business Line - Money & Banking https://ift.tt/3FFwi...

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BSBDA customers need not pay any charges for digital transactions: SBI

IIT-Bombay professor had alleged that there has been breach in RBI regulations when SBI imposed the charges from Business Line - Money & Banking https://ift.tt/3nKdW...

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Amtek takeover: DVIL gets 24 hours to pay ₹500 crore in cash

In an order today, a bench of Justices MR Shah and Sanjiv Khanna said DVIL has to transfer the amount into a State Bank of India account by November 24, bringing the more-than-4-year old resolution saga to its climax. from Banking/Finance-Industry-Economic Times https://ift.tt/3nM5Z...

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Jan Dhan 3.0 to focus on digital, doorstep banking

The government wants banks to also find linkages and converge Jan Dhan accounts with schemes such as the Atal Pension Yojana, PM SVANidhi, Stand Up India scheme and the Sukanya Samriddhi Yojana. from Banking/Finance-Industry-Economic Times https://ift.tt/30WsK...

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Bank of Baroda to raise up to Rs 2,000 cr via AT1 bonds today

The offer comprises a base issue of Rs 500 crore with a greenshoe option to retain oversubscription up to Rs 1,500 crore, according to the placement memorandum of the bank. from Banking & Finance – The Financial Express https://ift.tt/3HQRH...

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HDFC Bank to tap into Equitas SFB’s customer base with co-branded credit card

The two categories of cards on offer will be the Excite credit card, with a credit limit between `25,000 and `2 lakh, and the Elegance credit card, with a credit limit of over `2 lakh. from Banking & Finance – The Financial Express https://ift.tt/3r9xy...

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CredAvenue’s bond platform facilitates Rs 150 cr MLD issuance for SK Finance

SK Finance is one of the leading NBFCs in the country, with over 2.25 lakh customers with assets under management (AUM) of Rs 4,000 crore and a presence in 10 states through more than 375 branches. from Banking & Finance – The Financial Express https://ift.tt/3CM1h...

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RBI may increase reverse repo by 20-25 bps next month, say economists

According to a Goldman Sachs economic research report, the RBI is currently in stage 2 (liquidity tightening) of the four-stage monetary policy normalisation process from Business Line - Money & Banking https://ift.tt/3COVl...

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Eyeing market share gains ICICI open trade platform to non customers

​The bank has increased its market share in the credit card business in the last one were after RBI banned market leader HDFC Bank in December last year. The ban was subsequently lifted in August but not before ICICI closed the gap with HDFC in terms of cards issued. ​​​​The bank will tied up with companies like India Filings to help traders get key registrations and licenses such as trade license, Importer Exporter Code (IEC), GST registration. from Banking/Finance-Industry-Economic Times https://ift.tt/3cDu2...

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NCLT allows YES Bank time to file a reply in Dish TV matter, adjourns the case for December 22

The bank wants to dissolve the entire board and remove the promoter family, as it believes the board is functioning in cahoots with the minority shareholders (the promoters), who should not have representation on the board. from Banking/Finance-Industry-Economic Times https://ift.tt/3DMJL...

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Zenwork raises ₹1,200 crore from Spectrum Equity

Fintech firm to double HR to 200 employees from Business Line - Money & Banking https://ift.tt/3DZOd...

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CyberX9 questions PNB’s denial of server vulnerability

It had also questioned the bank’s ISO certification, saying it had been violated by not timely reporting and remediating the vulnerability. from Business Line - Money & Banking https://ift.tt/3r2WP...

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Equitas SFB ties up with HDFC Bank for co-branded credit cards

The credit card can be availed in two categories Excite and Elegance from Business Line - Money & Banking https://ift.tt/3r19d...

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PMC Bank depositors dismayed by move to deny them interest

Question RBI’s rationale for clause in bank’s draft scheme of amalgamation from Business Line - Money & Banking https://ift.tt/3HIz9...

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Former Spandana MD Padmaja Reddy questions high salary being paid to new MD and CEO

Says the move goes against the social objectives of microfinance companies from Business Line - Money & Banking https://ift.tt/3CVGp...

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Equitas Small Finance Bank ties up with HDFC Bank to offer co-branded credit cards

Equitas Small Finance Bank is in partnership with HDFC Bank, for a co-branded credit card. Equitas said that the partnership will draw on HDFC Bank's strengths in the credit card market and its substantial reach. from Banking/Finance-Industry-Economic Times https://ift.tt/3cLAp...

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NPCI Bharat BillPay onboards Tata Power as the first power company on ClickPay

This will enable more than seven lakh customers of Tata Power (Mumbai) to pay their electricity bills using the service from Business Line - Money & Banking https://ift.tt/3CD8p...

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ICICI Bank launches new online platform for exporters and importers

The service is called Trade Emerge from Business Line - Money & Banking https://ift.tt/3HIhv...

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IndusInd Bank, Spandana Spoorthy spar over top management appointments

IndusInd said the announcement regarding the hire of CEO wasn't correct because Shalabh Saxena hasn't yet resigned from Bharat Financial Inclusion. from Banking/Finance-Industry-Economic Times https://ift.tt/3FGKH...

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IndusInd Bank: Shalabh Saxena, Ashish Damani yet to resign from BFIL to join Spandana Sphoorty

Non-compete clause prohibits them from accepting employment at a competitor of BFIL from Business Line - Money & Banking https://ift.tt/30LBq...

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Punjab National Bank denies any data theft, system breach

Cyber security firm CyberX9 had said that a vulnerability in the server of Punjab National Bank exposed the personal and financial information of its about 180 million customers for about seven months and that the bank fixed the vulnerability when CyberX9 notified PNB through CERT-In and NCIIPC. from Banking/Finance-Industry-Economic Times https://ift.tt/3FF1Y...

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Digital disbursement of loans jumped twelve-fold between 2017 and 2020: RBI panel report

The panel’s findings were based on data received from a sample of lenders representing 75% and 10% of the total assets of banks and non-banking financial companies (NBFCs) respectively as on March 31, 2020. from Banking & Finance – The Financial Express https://ift.tt/3nFRT...

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PMC Bank depositors with over Rs 5 lakh in deposits to get paid over 10 years

The scheme envisages a full payout for depositors with deposits of over Rs 5 lakh over a period of 10 years. from Banking & Finance – The Financial Express https://ift.tt/3FUlg...

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Cost of funds has not bottomed out, still room for lowering

The loan portfolio declined during the first quarter and we started growing only after the first half of the second quarter. Secondly, we lowered our pricing when targeting large ticket sizes. from Banking & Finance – The Financial Express https://ift.tt/3CH6W...

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Broad Peak joins hands with Brescon to raise $300 million to invest in distressed assets

​​The strategic partnership is coming at a time when experts believe that the stressed asset situation in India will get more complicated. Indian banks are likely to see a rise in gross non-performing assets (NPA) to 8-9% of total lending at the end of this fiscal year from 7.5% last year, rating agency CRISIL said in October. from Banking/Finance-Industry-Economic Times https://ift.tt/2ZbkC...

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Digital payments led to rise in the buy-now-pay-later model, biz growth of local mom-and-pop stores: Study

The rise in repayments and growth in retail small and medium businesses also signals towards a healthy recovery in the economy, OkCredit said. from Banking/Finance-Industry-Economic Times https://ift.tt/3xbG1...

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PMC’s 1,100 employees can heave a sigh of relief

Draft scheme assures continuation of service for at least three years from Business Line - Money & Banking https://ift.tt/3x9XX...

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Tech and digital will be major enablers for our business: Poonawalla Fincorp

Overall business outlook is encouraging if one looks at high frequency indicators, says Group CEO from Business Line - Money & Banking https://ift.tt/3kZ39...

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SBI dual lists $650 million green bonds on India INX, Luxembourg Stock Exchange

Move seen as first step towards creating a ‘green corridor’ with Luxembourg from Business Line - Money & Banking https://ift.tt/3DWzw...

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No breach of systems and pilferage of any personal data: PNB

All the critical systems dealing with banking transactions are secure with multiple layers of protection, it further added. from Business Line - Money & Banking https://ift.tt/3HCbC...

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Paytm reports 131% rise in GMV to $ 11.2 billion in October

Records 418% YOY growth in value of loans disbursed from Business Line - Money & Banking https://ift.tt/3kTdB...

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RBI scheme says PMC depositors to be paid over a period of 3 to 10 yrs

The scheme says that depositors can claim upto Rs 50,000 at the end of three years and further can claim Rs 1 lakh at the end of four years, Rs 3 lakh at the end of five years and Rs 5.50 lakh at the end 10 years. from Banking/Finance-Industry-Economic Times https://ift.tt/3CHs0...

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Niva Bupa aims ₹5,000 cr gross written premium by 2023-24

Targets 10 million people under health insurance coverage, include 600 cities from Business Line - Money & Banking https://ift.tt/2ZgTX...

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Spandana Sphoorty appoints Shalabh Saxena as new MD and CEO

Ashish Damani to join as President and CFO, Abanti Mitra to take over as Chairperson from Business Line - Money & Banking https://ift.tt/3HKYE...

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Poonawalla Fincorp, CARS24 in strategic pact for consumer financing

Partnership aimed at enabling loans on vehicles bought from CARS24 from Business Line - Money & Banking https://ift.tt/3CFLx...

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Deposits parked with co-operative credit societies not eligible for insurance cover: RBI

Some Co-operative Societies are using the word “Bank” in their names in violation of Section 7 of the Banking Regulation Act, 1949 which is applicable to co-operative societies under the Act, according to the Reserve Bank. "Accordingly, co-operative societies cannot use the words “bank", "banker" or "banking" as part of their names, except as permitted under the provisions of BR Act, 1949 or by the Reserve Bank of India" the regulator clarified in a release. from Banking/Finance-Industry-Economic Times https://ift.tt/3oJCf...

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PMC Bank depositors invested over ₹5 lakh to get their money back over 10-year period

As per agreement with Unity SFB, no further interest will be payable on the interest-bearing deposits for five years from the appointed date. from Business Line - Money & Banking https://ift.tt/30Mvo...

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‘Co-op Societies not authorised to conduct banking biz’

Exercise caution and carry out due diligence, says RBI advisory to public from Business Line - Money & Banking https://ift.tt/3czwT...

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New twist in Spandana founder and Kedaara Capital's public spat

The new management at Spandana has also hired an independent agency to probe into issues concerning the IT system and operations of Criss Financial – a gold loan subsidiary of it, hinting that there is a suspicion of wrongdoings. from Banking/Finance-Industry-Economic Times https://ift.tt/3cyRN...

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Co-operative societies can't use 'bank' in their names: RBI

After the amendment in the Banking Regulation Act, 1949, effective September 29, 2020, co-operative societies cannot use the words "bank", "banker" or "banking" as part of their names, except as permitted under the provisions or by the Reserve Bank of India (RBI). from Banking/Finance-Industry-Economic Times https://ift.tt/3x90O...

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PMC Bank in focus: RBI announces draft scheme of amalgamation

The Reserve Bank of India today placed in the public domain the draft scheme of amalgamation of the Punjab and Maharashtra Cooperative (PMC) Bank with Unity Small Finance Bank (USFB), which commenced operations from November 1, 2021. from Banking/Finance-Industry-Economic Times https://ift.tt/2Z9ye...

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NIBRI hits new high of 114

Nomura Index, however, flags concern over tepid auto sales and rural demand from Business Line - Money & Banking https://ift.tt/3nAs1...

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Shriram City crosses 1-crore milestone in two-wheeler financing

Two-wheeler loans currently account for about 22 per cent of the NBFC’s assets under management from Business Line - Money & Banking https://ift.tt/3oJRm...

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Niva Bupa Health Insurance projects Rs 5,000-cr gross written premium by 2023-24

Niva Bupa Health Insurance Company (formerly Max Bupa Health Insurance Company) said it has been aggressively expanding its presence across Tier-II, III and IV cities, opening one new office every 3.5 days in the last year. Currently, Niva Bupa has a presence in 350 cities that will further increase to over 600 cities by FY2023-24. from Banking/Finance-Industry-Economic Times https://ift.tt/3oOgN...

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Asset quality pains for banks ease, focus on growth likely in H2

NPA situation of the Indian banking system indicates a gradual improvement in the NPA ratio in September 2021 from Business Line - Money & Banking https://ift.tt/3CDgn...

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Crypto crowdfunding goes mainstream with ConstitutionDAO bid

Ethereum-based campaign was to buy a rare copy of the US Constitution; bid attempt raised $46.3 million from thousands of donors from Business Line - Money & Banking https://ift.tt/3cCJ2...

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Despite regulatory concerns, over 400 start-ups jump onto crypto ecosystem

100 start-ups launched in 2021 alone, funding soars 73% in first six months: Tracxn from Business Line - Money & Banking https://ift.tt/3nCKs...

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Fall in share of MCLR-linked loans

  from Business Line - Money & Banking https://ift.tt/30HVw...

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Mind the metric while determining companies’ worth

Optimising the efforts towards achieving results around some narrow metrics may violate the very purpose of the objective from Business Line - Money & Banking https://ift.tt/2Z8da...

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NPAs of NBFCs, HFCs may rise for 3-4 quarters due to tweak in norms

RBI has proposed NPA tagging as part of day-end process for the relevant date from Business Line - Money & Banking https://ift.tt/3cC4l...

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Crypto investing: Beware of traps laid by cybercriminals, warn experts

Fraudsters are using celebrity pics to lure users from Business Line - Money & Banking https://ift.tt/3HDri...

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What’s new in the banking space

India, China among top remittance recipientsThe top five remittance recipients in current US dollar terms in 2021 were India ($87 billion), China ($53 from Business Line - Money & Banking https://ift.tt/3CFPW...

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How banks profit from building and breaking up companies

Investment bankers profit every time the answer involves a deal, even if it represents an about-face for the companies from Business Line - Money & Banking https://ift.tt/3qXIT...

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PMJDY adds 1.3 crore beneficiaries in H1 of FY22

As on November 10, 2021, total beneficiaries stood at 43.85 crore even as total balance in the accounts edged up to ₹1,48,069 cr from Business Line - Money & Banking https://ift.tt/3x7OH...

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Vulnerability in PNB server exposed customer data for about seven months: CyberX9

The server used was one of the multiple Exchange Hybrid servers, and there is no impact on the vulnerability of customer data, says the bank. from Business Line - Money & Banking https://ift.tt/3HKyu...

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SBI yet to refund Rs 164 cr undue fee charged from Jan Dhan a/c holders

A report by IIT-Mumbai said that during April 2017 to September 2020, SBI had collected over Rs 254 crore towards at least 14 crore UPI/ RuPay transactions by charging Rs 17.70 per transactions on BSBDA (Basic Savings Bank Deposit Account) customers under the Pradhan Mantri Jan Dhan Yojana (PMJDY). from Banking/Finance-Industry-Economic Times https://ift.tt/3CE5s...

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Vulnerability in PNB server exposed customer data for about seven months: CyberX9

PNB said "customer data/applications are not affected due to this" and "server has been shut down as a precautionary measure." from Banking/Finance-Industry-Economic Times https://ift.tt/3CAGG...

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Banks need a tight framework, say experts

To cover all aspects of venture funding so as to safeguard bankers’ interests from Business Line - Money & Banking https://ift.tt/3DF4S...

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