PM Modi inaugurates Deutsche Bank’s IBU at GIFT-IFSC

Deutsche Bank’s IFSC Banking Unit will offer financial products across trade finance, fixed income and currency from The HinduBusinessLine - Money & Banking https://ift.tt/wdejt...

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Q1 results: Cholamandalam Investment and Finance reports standalone net profit of ₹565 crore

The standalone total income during Q1 FY23 grew to ₹2,770.93 crore from The HinduBusinessLine - Money & Banking https://ift.tt/7G2PD...

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RBI places 3 urban co-operative banks under Directions

One UCB from AP and two from Maharashtra placed under Directions from The HinduBusinessLine - Money & Banking https://ift.tt/Kkm61...

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PNB Gets RBI Approval to Invest ₹500 cr in PNB Housing Finance Rights Issue

"Post rights issue, the holding of the bank would come down below 30% but would be higher than 26% so that the bank retains promoter status," chief executive AK Goel said. The state-owned bank currently holds a 32% stake in the housing finance firm. from Banking/Finance-Industry-Economic Times https://ift.tt/yTnDx...

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Gujarat High Court Orders IGST Refund on Ocean Freight Within 6 Weeks

Many importers had filed the refund claims after the Supreme Court order, but their claims are still stuck. "It is directed that if any IGST amount is collected, the same shall be refunded within six weeks along with statutory rate of interest," Justice NV Anjaria said, while admitting the petition by Louis Dreyfus Company India Pvt Ltd Vs Union of India. from Banking/Finance-Industry-Economic Times https://ift.tt/OYKy2...

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Deposit and lending rates rise for the second consecutive month

The weighted average domestic term deposit rate (WADTDR) on outstanding rupee term deposits of SCBs increased by 4 bps in May to 5.07 per cent and by 6 bps from in June 2022. from Banking/Finance-Industry-Economic Times https://ift.tt/hsrKu...

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Fiscal Deficit at 3.5 Lakh cr in Q1, 21.2% of FY23 Target

Tax revenues at the end of the first quarter stood at ₹5.06 lakh crore, 22% higher than the same quarter last year. Non-tax revenues contracted by 51.2% in the same period due to 69.4% lower surplus transferred by the RBI to the Centre, pulling down the overall revenue receipts that grew by a tepid 5.2%. from Banking/Finance-Industry-Economic Times https://ift.tt/qcNTv...

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Some Asia economies may need rapid rate hikes to cool inflation: IMF

Asia's growing inflation pressures remain more moderate compared with other regions, says Director of IMF's Asia and Pacific Department from The HinduBusinessLine - Money & Banking https://ift.tt/0XZlJ...

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DHFL case: CBI seizes more expensive paintings and watches

The promoters of DHFL are charged with cheating a consortium of 17 banks led by Union Bank of India to the tune of about Rs 34,615 crore from The HinduBusinessLine - Money & Banking https://ift.tt/jamdn...

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Yes Bank-DHFL scam: CBI recovers paintings, watches worth crores

The Central Bureau of Investigation (CBI) on Thursday recovered paintings and watches worth several crores during further searches conducted in the Yes Bank-DHFL (Diwan Housing Finance Corporation Ltd) scam case. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/X8nvf...

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Companies see 10% rise in jobs in FY22: Study

After a year of flat headcount, FY22 saw a 10% jump in jobs, according to a study of 675 companies done by Bank of Baroda, with the total headcount rising to 4.1 million as economic activity resumed following the lockdown and the second wave of Covid-19. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/37AmL...

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Punjab National Bank’s consolidated net slides 72 per cent to ₹304 crore in Q1

Bottomline performance weighed down by 47 per cent jump in NPA provisioning from The HinduBusinessLine - Money & Banking https://ift.tt/ealE2...

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Land Sales may Come Under Taxman's Lens

"This is another instance of divergent ruling by different state authorities," said Harpreet Singh, indirect tax partner at KPMG in India. "In the past, Madhya Pradesh and Goa advance ruling authorities have held sale of developed land as non-taxable as in essence the transaction continues to be sale of immovable property." from Banking/Finance-Industry-Economic Times https://ift.tt/bXa7W...

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Irdai changes key rules for insurers

The regulator has also decided to allow insurance companies to tap fund raising options, like through the debt market, without prior approval from the Irdai. from Banking/Finance-Industry-Economic Times https://ift.tt/CvmM2...

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Rupee opens about 10 paise stronger as dollar weakens post US Fed rate hike

Second consecutive 75 bps interest rate hike by the US Fed has increased the possibility of the US tipping into recession, said the market observers from The HinduBusinessLine - Money & Banking https://ift.tt/L0tUV...

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RBI to banks: Have policy for reducing climate risks

Most banks have decided to gradually reduce their exposure to high carbon-emitting businesses in the coming years, according to a survey by the Reserve Bank of India (RBI). from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/A7CXF...

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RBI's discussion paper on climate change calls for board approved climate risk management

Lenders may need to incorporate an assessment of both physical and transition risks across a range of climate-related scenarios. They may identify and simulate plausible and relevant scenarios, factor in the inter-linkages between climate-related risk and other risks and explore resilience to financial losses under a variety of scenarios. from Banking/Finance-Industry-Economic Times https://ift.tt/gplXt...

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Bajaj Finance’s Q1 PAT rises nearly 3-fold to ₹2,596 crore

Gains attributed to strong loan growth and fall in provisions from The HinduBusinessLine - Money & Banking https://ift.tt/fQPHi...

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Retail loans grow by 25 per cent for major private banks in Q1

Inflation, interest rate hike not deterring demand for loans from The HinduBusinessLine - Money & Banking https://ift.tt/rHvKO...

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Board-level engagement on climate risk and sustainable finance in banks inadequate: RBI Survey

Banks must fully grasp the physical, transition and liability risks associated with climate risk, says RBI survey from The HinduBusinessLine - Money & Banking https://ift.tt/6XKPx...

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Sundaram Home Fin reports 18% rise in Q1 net

Disbursements hit a high of ₹800 crore on improved home loan demand from The HinduBusinessLine - Money & Banking https://ift.tt/ehYNR...

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Is investing in floater funds right for you?

All about floater funds and guide to whether it makes sense to invest in it. Read to know more from Banking/Finance-Industry-Economic Times https://ift.tt/02FPo...

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SC to deliver verdict on pleas concerning interpretation of provisions of anti-money laundering law

It had earlier stayed further proceedings before High Courts in matters involving challenges to the IT Rules, 2021 from The HinduBusinessLine - Money & Banking https://ift.tt/Cs9Xu...

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Banks, UPI platforms rush to upgrade cyber security

Many of the country's private sector banks and UPI platforms engaged in mobile banking are looking to upgrade their cyber security systems, thanks to exponential increase in digital banking over past couple of years and quick adoption of cloud technologies amid pandemic. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/R5fmV...

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Day 2 of ET Future of Money to feature Innovators Launchpad with Reserve Bank Innovation Hub for fintech startup innovations

At Day 2 of ET Future of Money Summit, watch out for insights on digital payments economy, the transformations in the banking and wealth management, and the role of Web3 in defining the future of finance. from Banking/Finance-Industry-Economic Times https://ift.tt/K98w3...

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Coinbase faces SEC investigation over cryptocurrency listings

from The HinduBusinessLine - Money & Banking https://ift.tt/Ulg61...

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Bitcoin sinks to one-week low amid bout of global market nerves

Edges down in nervous trade amid expectations for a Fed rate hike and harsher scrutiny of cryptocurrency sector from The HinduBusinessLine - Money & Banking https://ift.tt/Uw4lm...

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At Day 1 of ET Future of Money Summit, policymakers and leaders to discuss financial inclusion, CBDCs, gender and finance, and more

On the first day of ET Future of Money Summit, top leaders and experts will focus on the theme of financial inclusion, women and money, fintech startup innovations, digital assets, role of blockchain and CBDCs. from Banking/Finance-Industry-Economic Times https://ift.tt/NPnTW...

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Ravi Kishan Takkar appointed Additional Director on LIC HFL’s Board

Ravi Kishan Takkar is the former MD & CEO of UCO Bank from The HinduBusinessLine - Money & Banking https://ift.tt/ntmw8...

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Companies face delays in transferring money abroad

Rupee has lost 6.77% to the greenback this year, ranking seventh among Asian currencies. But the rupee has fared much better against other major currencies. It has gained between 3% and 10% against the Euro, Pound and the Yen this calendar year. from Banking/Finance-Industry-Economic Times https://ift.tt/kMOlY...

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IDBI Bank's potential suitors seek clarity on CAG, CVC role

The bidders have raised concerns about potential investments in the bank being subject to CAG's scrutiny in the future. IDBI Bank also follows CVC guidelines for investigating internal complaints of suspected wrongdoing, which the bidders have raised as a concern. from Banking/Finance-Industry-Economic Times https://ift.tt/Nyfl1...

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ET Future of Money 2022: MoS Finance Bhagwat Karad to deliver inaugural keynote; over 25 speakers to join summit exploring the future of finance

Dr. Bhagwat Kishanrao Karad, MoS - Ministry of Finance, Government of India will deliver the inaugural keynote address at ET Future of Money Summit 2022, scheduled for July 26-27. Other prominent speakers include Rajesh Bansal, CEO, Reserve Bank Innovation Hub (RBIH), Sanjeev Sanyal, Member, EAC PM, Nilesh Shah, MD, Kotak Asset Management Co, and Nithin Kamath, CEO and Founder, Zerodha. from Banking/Finance-Industry-Economic Times https://ift.tt/kPvL9...

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HDFC Bank to be among global top 10 after merger

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/IXek5...

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Lenders seek clarity from bad bank over invoking guarantees

The subject has assumed importance because banks have never invoked a government guarantee in the past. Senior bank officials conveyed their reservations on the subject to the NARCL management at a meeting last week, the people cited above said. from Banking/Finance-Industry-Economic Times https://ift.tt/XWPuh...

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Private banks hopeful of credit pick-up in FY23 after encouraging Q1

Bankers are optimistic that business will continue to grow as the economy recovers from The HinduBusinessLine - Money & Banking https://ift.tt/9QGYA...

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IFSCA to ensure better access to credit for Indian companies at GIFT City: Chairperson

​​Banks including State Bank of India and Axis Bank have doubled consolidated balance sheet size to $35 billion in the last two years since the unified regulator assumed formal status. Prime Minister Narendra Modi is likely to visit GIFT City this Friday after a gap of five years, launching a host of new initiatives. from Banking/Finance-Industry-Economic Times https://ift.tt/azp0x...

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Dhanlaxmi Bank’s rights issues likely in two weeks

Tussle between key investors and management resolved ahead of the July 30 deadline  from The HinduBusinessLine - Money & Banking https://ift.tt/rjmtL...

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Rise seen in counterfeits along with currency notes in circulation: Official data

₹500 denomination has the maximum number of counterfeit notes, said Minister of State in the Finance Ministry Pankaj Chaudhary from The HinduBusinessLine - Money & Banking https://ift.tt/H4k7m...

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Nabard officers, employees agree to keep ‘Delhi Chalo’ call in abeyance

The decision follows an intervention from the Nabard management, Department of Financial Services from The HinduBusinessLine - Money & Banking https://ift.tt/Hdclj...

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