FD rate hikes: Experts don’t see a trend yet

With a few banks and non-banking finance companies hiking interest rates on fixed deposits for certain tenors, experts believe it is too early to dee from Business Line - Money & Banking https://ift.tt/31TaS...

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Some banks and NBFCs hike interest rate on fixed deposits

Ujjivan Small Finance Bank, Bajaj Finance, HDFC among those offering interest hikes from Business Line - Money & Banking https://ift.tt/3GDSJ...

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Kotak Mahindra Bank appoints Ashu Suyash as independent director

The appointment is for a period of five years from Business Line - Money & Banking https://ift.tt/3s0JT...

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NABARD projects Assam's credit potential at Rs 36,292cr for FY23

Around 52 per cent of the total projected credit potential is estimated for the agriculture and allied activities, and a 36 per cent share for the MSME sector, according to a report - State Focus Paper for 2022-23- released by the rural development bank recently. from Banking/Finance-Industry-Economic Times https://ift.tt/3IJte...

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PMC Bank’s loss being thrust on hapless depositors: Sahakar Bharati

Sahakar Bharati has suggested, a part or full of PMC deposits could be converted into bonds with maturity of maximum 7 years. from Business Line - Money & Banking https://ift.tt/3ELUG...

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IBBI: Centre invites applications for two Whole-Time Member posts

Appointment would be made by the central government on the recommendation of the selection committee from Business Line - Money & Banking https://ift.tt/3EOOm...

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Payment nationalism is not a negative, says Visa Inc's Vasant Prabhu

Prabhu said nationalism is not new and that Visa has seen many countries in Europe creating their own domestic schemes in the 1960s and 1970s when Visa was expanding in the continent from Banking/Finance-Industry-Economic Times https://ift.tt/3DL3s...

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Crypto industry bats for a regulator

Industry body’s submission to Parliament panel calls for a regulator-endorsed SRO from Business Line - Money & Banking https://ift.tt/3dBf6...

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IPPB partners NPCI Bharat BillPay for recurring payments

‘The service will benefit millions of unbanked customers in remote locations’ from Business Line - Money & Banking https://ift.tt/3dBf5...

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‘Credit markets, sectors hit by the pandemic may exert pressure on solvency of lenders’

Banks’ willingness to lend may be affected due to their modest profits: BRICS bulletin from Business Line - Money & Banking https://ift.tt/3oFLC...

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Confident all major merchants on our platform will go live with tokenisation before deadline kicks-in: Razorpay CEO

Harshil Mathur says the firm’s goal is to be a full-stack financial services company from Business Line - Money & Banking https://ift.tt/3ybI2...

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Fintech start-up Niro partners with LeadSquared to scale marketing automation

Will enable us to accelerate our customer acquisition, improve our customer experience, says Founder & CEO of Niro from Business Line - Money & Banking https://ift.tt/3oCYS...

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Yes Bank scam: Kapoor moves HC, seeks joint trial in the CBI-ED cases

While the CBI is probing a case of corruption and misuse of office, the Enforcement Directorate (ED) is investigating a money laundering case in an alleged case of fraud caused to YBL by Kapoor, DHFL promoters, Kapil and Dheeraj Wadhawan and others. from Banking/Finance-Industry-Economic Times https://ift.tt/3oHKP...

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SBI’s internet banking services to remain unavailable for five hours on December 11

During this period, the users will not be able to use features INB/Yono/Yono Lite/Yono Business/UPI from Business Line - Money & Banking https://ift.tt/3DIHZ...

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RBI grants approval to LIC to up stake in IndusInd Bank to nearly 10 pc

The bank has received an intimation from the RBI on December 9, 2021, that it has granted its approval to Life Insurance Corporation (LIC), shareholder of the bank to acquire up to 9.99 per cent of the total issued and paid up capital of the bank, the bank said in a regulatory filing on stock exchanges. from Banking/Finance-Industry-Economic Times https://ift.tt/3ycT7...

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ECLGS loans: Private sector banks’ average ticket size higher than PSBs

The average ticket size of loans ECLGS was ₹6.04 lakh for private banks from Business Line - Money & Banking https://ift.tt/3ID4v...

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Bank of Baroda signs MoU with Centrum Housing Finance

Will source and finance housing loan borrowers under co-lending model from Business Line - Money & Banking https://ift.tt/3EEJj...

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Bank credit could rise upwards of 10% in next one year: Jefferies

Banks have managed asset quality well with slippages and restructuring under control. from Banking/Finance-Industry-Economic Times https://ift.tt/3ydKY...

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Karnataka Bank gets MeitY award for highest Bhim-Upi transactions for two years

MeitY & Railway Minister Ashwini Vaishnaw and MoS, IT & Skill Development Rajeev Chandrasekhar presented the award to bank’s General Manager Raja BS and Deputy GM Jagadeesh KS in Delhi, the bank said in a statement. from Banking/Finance-Industry-Economic Times https://ift.tt/3lOJL...

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India's Paytm Payments Bank granted status upgrade

Paytm Payments Bank, a niche bank that cannot lend on its own, had more than 64 million savings accounts and over 52 billion Indian rupees ($688.5 million) deposits, including savings accounts, current accounts and fixed deposits with partner banks at the end of March this year. from Banking/Finance-Industry-Economic Times https://ift.tt/3pJr1...

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Paytm Payments Bank receives Scheduled Bank status from RBI

It has emerged as one of the largest enablers of digital payments in the country from Business Line - Money & Banking https://ift.tt/3GJju...

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PMC Depositors Forum wants draft scheme of amalgamation of PMC Bank with Unity SFB altered

The Forum assessed the funds so released can be used to settle 25 per cent of the outstanding amount in the depositors account immediately from Business Line - Money & Banking https://ift.tt/3rPhC...

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Former MD & CEO of Bharti AXA General Insurance joins ACKO

Sanjeev S has over 20 years of experience working with leading companies such as Fullerton India Credit, and ING Vysya Life Insurance, among others from Business Line - Money & Banking https://ift.tt/3GtW7...

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Treat crypto/digital tokens as securities of a special class: CII

Statement has come at a time when the government is planning to bring legislation to Parliament from Business Line - Money & Banking https://ift.tt/3IBpa...

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Sandeep Kumar Sultania ceases to be chief financial officer of Srei Infrastructure Finance

"Sandeep Kumar Sultania has ceased to be the chief financial officer of the company with effect from close of business hours of December 7, 2021, to take up a new role within the company," Srei said in a regulatory filing. from Banking/Finance-Industry-Economic Times https://ift.tt/3y6Br...

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Rupifi raises undisclosed venture debt from Trifecta Capital

Embedded B2B payments start-up Rupifi to scale up partnerships with financial institutions from Business Line - Money & Banking https://ift.tt/3DBri...

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Wake Up! It’s time to review and rebalance your investment portfolio

Portfolio review and rebalancing entails looking at the composition of your current portfolio and then assessing whether the investments in your portfolio match your risk profile and are capable of helping you meet your financial requirements, in the time period that you desire. from Banking/Finance-Industry-Economic Times https://ift.tt/3lNSR...

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Bank unions to go ahead with strike on Dec 16-17

Conciliation meeting adjourned to Dec 14 from Business Line - Money & Banking https://ift.tt/3lLH0...

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RBI to raise all-in-cost ceiling over alternative reference rates for overseas borrowings

Any widely accepted interbank rate or ARR applicable to the currency of borrowing may be used as benchmark, post discontinuation of LIBOR from Business Line - Money & Banking https://ift.tt/3lIM3...

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RBI plans to enhance 14-day VRRR auction amounts in December

The central bank will conduct a VRRR auction for ₹6.5 lakh crore on December 17 and for ₹7.5 lakh crore on December 3 from Business Line - Money & Banking https://ift.tt/3EPSq...

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Soon, UPI payment through feature phones

RBI Governor Shaktikanta Das also plans to simplify small-value transactions through ‘on-device’ wallet from Business Line - Money & Banking https://ift.tt/31Eno...

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RBI to release discussion paper on charges in payment systems

The paper will seek feedback on issues of convenience fee, surcharging, and the measures required to make digital transactions affordable to users from Business Line - Money & Banking https://ift.tt/3DBOb...

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RBI monetary policy: repo rate unchanged at 4 per cent

RBI monetary policy review maintains repo rate status quo. Members voted 5-1 to maintain the accommodative stance from Business Line - Money & Banking https://ift.tt/3EDBw...

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Paytm offers special flight fares for armed forces, students, senior citizens

Users can simply search for flight options after entering their details and discover the applicable offers, which come at a considerable discount in addition to the already existing offers being offered by Paytm and other banking service providers. from Banking/Finance-Industry-Economic Times https://ift.tt/3EyOX...

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Capital remains a constraint for India’s state-owned bank sector

Fitch Ratings forecasts tighter global banking regulations in 2022 from Business Line - Money & Banking https://ift.tt/302zJ...

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Why are bank stocks underperforming?

Punters on Dalal Street have highlighted various “technical” reasons for the underperformance, including extant overweight positions of institutional investors and selling by foreign portfolio investors (FPIs). In fact, bank stocks constitute the largest holding for FPIs and recently they have been selling loads of it. from Banking/Finance-Industry-Economic Times https://ift.tt/31zAH...

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ICICI Bank offers instant overdraft facility to sellers registered on Flipkart

Customers of any bank can avail of ODs from ICICI Bank if they are registered as sellers with Flipkart from Business Line - Money & Banking https://ift.tt/3GoLz...

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The big bank outperformer? Analysts see upto 54% upside for ICICI Bank

In a recently concluded Analyst Day event, ICICI Bank’s management showcased its industry-first digital offerings for retail and SME/corporate customers, reinforcing its journey to become a full-scale “BankTech” from a traditional bank. from Banking/Finance-Industry-Economic Times https://ift.tt/3px8x...

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SBI to sign MoU with Kendriya Sainik Board

To support and educate the children of war veterans, ex-servicemen and war widows from Business Line - Money & Banking https://ift.tt/3y3WB...

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Neobank Dinero signs pact with discount broker 5Paisa

This partnership will enable retail investors to invest in different financial services and low-cost products from Business Line - Money & Banking https://ift.tt/3xYgC...

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LenDenClub raises $10 million in Series-A funding

LenDenClub aims to scale up loan disbursals substantially from Business Line - Money & Banking https://ift.tt/3IqcE...

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SBI chooses Intellect Design to take care of its digital wealth management

Intellect Design’s digital wealth management suite Intellect Wealth Qube selected by SBI from Business Line - Money & Banking https://ift.tt/3rG2G...

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Karnataka Bank signs pact with Toyota for vehicle financing

Customers can get loans for purchasing TKM vehicles through the digital platform of Karnataka bank with interest rate linked to External Benchmark Lending Rate (EBLR) from Business Line - Money & Banking https://ift.tt/31rFk...

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Can't term bad business calls fraud: NCLT

The Mumbai bench of the National Company Law Tribunal (NCLT) dismissed a plea filed by the Resolution Professional of RTIL to declare business transactions to the tune of ₹1019.48 crore 'fraudulent'. from Banking/Finance-Industry-Economic Times https://ift.tt/3IkxY...

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Citi's India retail business: Kotak, Axis Bank lead race

The deal, which could be an all-cash transaction, will likely value assets at less than $2 billion. IndusInd Bank is said to be out of the race. from Banking/Finance-Industry-Economic Times https://ift.tt/3DzSx...

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Rise in borrowing cost to elevate further on global yield movement, domestic macros: Marzban Irani

The primary sense is that the economic impact should be modest given the fact that symptoms of Omicron virus are mild (as reported so far) and vaccines are expected to be effective. from Banking & Finance – The Financial Express https://ift.tt/3dou5...

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Nagar Urban Co-operative Bank placed under RBI ‘directions’

The Reserve Bank of India has put Nagar Urban Co-operative Bank, Ahmednagar, under directions. Deposit withdrawal will be restricted to ₹10,000 per d from Business Line - Money & Banking https://ift.tt/3lF4R...

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Two independent directors resign from RGCIL board

Anil D Ambani had resigned as a Non-Executive Director of RGICL with effect from November 29, 2021 from Business Line - Money & Banking https://ift.tt/3dr6m...

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RBI imposes curbs on Maharashtra-based Nagar Urban Co-op Bank

The restrictions, imposed through directions under the Banking Regulation Act (as applicable to co-operative societies), 1949, shall remain in force for a period of six months from the close of business on December 6, 2021 and are subject to review, the Reserve Bank said in a statement. from Banking/Finance-Industry-Economic Times https://ift.tt/3pOyw...

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PSBs restructure over Rs 58,500 crore loan advanced to 9.8 lakh MSME accounts amid pandemic: Govt

Under Emergency Credit Line Guarantee Scheme (ECLGS) which was backed by 100 per cent guarantee of the central government, banks and non-banking financial companies (NBFCs) have sanctioned loans amounting to Rs 2.97 lakh crore as on 26 November 2021, as per the reply. from Banking/Finance-Industry-Economic Times https://ift.tt/3Ior0...

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NCLT admits Reserve Bank's plea for insolvency proceedings against Reliance Capital

The company is the third NBFC to go for resolution under the IBC after Dewan Housing Finance (DHFL) and Kolkata-based Srei Group. from Banking/Finance-Industry-Economic Times https://ift.tt/3dvbZ...

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Difference between investing in stocks and mutual funds

Mutual funds are governed by strict laws of SEBI and other government machinery keeping the system under various checks. Direct equity investing requires the investor to comply with those regulations. from Banking/Finance-Industry-Economic Times https://ift.tt/3EyuP...

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Yes Bank launches credit cards on RuPay platform

The bank has partnered with NPCI from Business Line - Money & Banking https://ift.tt/3Ex63...

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NCLT admits RBI's plea to initiate insolvency petition against Reliance Capital

It had previously superseded the board of the troubled company on November 29. from Business Line - Money & Banking https://ift.tt/3IoNa...

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No proposal under consideration to reduce GST on health insurance premium: MoS Finance

"The rate of GST is decided on the recommendations of the GST Council, which is a constitutional body comprising members from the central government and state governments. At present, no recommendation to reduce the GST rate on health insurance premium is under consideration of the GST Council," Minister of State for Finance Bhagwat K Karad said. from Banking/Finance-Industry-Economic Times https://ift.tt/3Eww3...

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Covid Omicron threat: Investors may turn cautious when purchasing retail loan pools from NBFCs, says ICRA

Ratings agency says securitisation volumes in FY23 could also be affected from Business Line - Money & Banking https://ift.tt/3psNa...

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Greater Pacific Capital invests $50 million in Muthoot Microfin

With this funding, Muthoot Microfin will look to double its asset under management to ₹10,000 crore in three years from Business Line - Money & Banking https://ift.tt/3xWn1...

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Startup Toolkit for entrepreneurs: Paytm partners with Amazon Web Services

Offers Paytm Startup Toolkit with exclusive payment services to early-stage Indian startups from Business Line - Money & Banking https://ift.tt/3GcEt...

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Bajaj Allianz Life launches Bajaj Allianz Life Assured Wealth Goal

It is designed to offer guaranteed income for securing one’s life goals from Business Line - Money & Banking https://ift.tt/3Gf8L...

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As migrant workers return to work, domestic remittances rise

The trend signals normalisation of economic activities to pre-Covid levels from Business Line - Money & Banking https://ift.tt/32R3R...

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IPO-bound LIC’s investment income grew 16.66% in 2020-21

Total premium income of LIC grew 6.33 per cent to ₹4.03 lakh crore in 2020-21 as compared to ₹3.79 lakh crore in the previous year from Business Line - Money & Banking https://ift.tt/3Evdp...

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Jignesh Shah's 63Moons announces a comeback with Blockchain, cryptocurrency foray

Shah got commitment for ₹150 crore in 10 minutes following a WhatsApp message to friends from Business Line - Money & Banking https://ift.tt/3pyrK...

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NCLT reserves order on RBI’s plea to commence insolvency against Reliance Capital

Before that Ravi Kadam, senior advocate, appearing for the RBI informed the Mumbai bench of the National Company Law Tribunal (NCLT) that under the IBC, only the regulator has the power to initiate CIRP against financial services providers. from Banking/Finance-Industry-Economic Times https://ift.tt/3Gehs...

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Solethreads raises venture debt funding from Alteria Capital

The company started the “Solester Reuse” programme that will focus on product recycling, in a bid to source sustainable materials from Business Line - Money & Banking https://ift.tt/3IqgQ...

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Digital India’s fastest growing & sustainable home finance company, IIFL Home Finance Ltd. disbursed loans of almost ₹3000 cr, in H1 of 2021-2022 FY

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

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PMS, AIF assets to touch ₹50 lakh cr in 10 years

Assets under management of discretionary and non-discretionary PMS expected to grow six-fold from Business Line - Money & Banking https://ift.tt/3EsxU...

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Government to sell confiscated gold only to RBI hereafter

Under the new guidelines, SPMCIL has been engaged for collection, transportation and conversion into standard gold bars and delivery to RBI from Business Line - Money & Banking https://ift.tt/3Dtlr...

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ICICI Bank bets big on digital banking, tech initiatives

ICICI Bank’s mobile app is showing robust acceptance across customers from Business Line - Money & Banking https://ift.tt/3IkEj...

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'Crypto bill can take India to the forefront of blockchain tech'

Stakeholders, including regulators, have made their representations to a panel of federal lawmakers and the Cryptocurrency and Regulation of Official Digital Currency Bill 2021 is likely to become law soon. from Banking/Finance-Industry-Economic Times https://ift.tt/3rBJl...

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Federal Bank sells CNTL loan at 25% discount

The Kerala-based lender sold the loan after the road asset's owner, IL&FS Transportation Network (ITNL), failed to close a deal it signed almost a year ago with I Square Capital-backed Cube Highway to sell CNTL. from Banking/Finance-Industry-Economic Times https://ift.tt/3GkiA...

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Cabinet may discuss Crypto Bill this week

The view in the government is that crypto cannot be permitted as a currency, but stringent regulation can be put in place to allow them to be held as assets. from Banking/Finance-Industry-Economic Times https://ift.tt/3Inyt...

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Consolidation is good for the banking industry: SBI Chairman

Leads to optimum utilisation of capital, large-size lending and risk-taking, says Dinesh Kumar Khara from Business Line - Money & Banking https://ift.tt/3IoWe...

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Extensions in finance: Can the regulator regulate?

Fintech platforms are the latest entrants to the over-extended financial system from Business Line - Money & Banking https://ift.tt/3xW0O...

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‘We have ensured that our underwriting standards are robust’

Dinesh Kumar Khara, Chairman, SBI, says he does not want to be an opportunist from Business Line - Money & Banking https://ift.tt/31zcT...

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Cryptos: From banning to regulating disruptors

Stakeholders seek cryptocurrencies to be treated as assets, not legal tenders; all eyes on Bill to be tabled in Parliament soon from Business Line - Money & Banking https://ift.tt/3dj1l...

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RBI likely to continue moving towards monetary policy normalisation

MPC likely to persist with accommodative stance owing to Omicron fears from Business Line - Money & Banking https://ift.tt/3Erc2...

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Reverse repo rates revision could be between policies: SBI Research

Instead the Reserve Bank may choose to raise the reverse repo rate in between policy meetings. A research report by the economists at the State Bank of India says that since the essential mandate of the MPC is to set policy rates to achieve an inflation target and not for liquidity management, RBI need not revise the reverse repo rates only during MPC meetings. " from Banking/Finance-Industry-Economic Times https://ift.tt/3djXl...

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Create UPI like platform for credit: Ashwini Vaishnaw to banks

Speaking at the concluding day of the week-long AzadiKaAmritMahotsav organised by the ministry of electronics and IT, Vaishnaw said that firms have instruments such as Aadhaar, UPI, mobile, digiLocker etc at their disposal, and they should come up with proof of concepts in the next three months. from Banking/Finance-Industry-Economic Times https://ift.tt/3prLR...

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IT minister asks bankers to create robust, digital platform for easy credit availability to small businesses

The building blocks required to create such a platform are already available, given the strong ecosystem of Aadhaar, mobile phones, UPI platform and digilocker, he said asking the banking industry to come up with innovative idea and solutions in three months. from Banking/Finance-Industry-Economic Times https://ift.tt/3DpO2...

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SBI invites bids to sell NPA account KSK Mahanadi Power with dues over Rs 4,100 crore

The e-auction of KSK Mahanadi is scheduled to take place on December 31, 2021 from Business Line - Money & Banking https://ift.tt/31vc8...

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SBI invites bids to sell NPA account KSK Mahanadi Power with dues over Rs 4,100 crore

With fund based outstanding of Rs 3,815.04 crore and non-fund based outstanding of Rs 286.83 crore, company's total loan dues towards SBI stands at Rs 4,101.87 crore as on date, as per SBI. The country's largest lender has set a reserve price of Rs 1,423.17 crore for selling this non-performing asset (NPA). from Banking/Finance-Industry-Economic Times https://ift.tt/3IjdU...

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