Raising resources via infra bonds could be one of the ways forward in future: SBI MD Setty

SBI raised ₹10,000 crore through its maiden infrastructure bond issuance on December 2 at 7.51% coupon rate from The HinduBusinessLine - Money & Banking https://ift.tt/WPU57...

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Arena-Varde Partners, Authum Investment submit final bids for Srei firms

AM Mining — an affiliate of ArcelorMittal, Capri Global and NARCL also evinced interest for submitting bids from The HinduBusinessLine - Money & Banking https://ift.tt/WkND8...

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Telangana signs pact with Coinbase to promote Web 3.0 community

Coinbase will be supporting Web 3.0 entrepreneurs of Telangana through capacity-building sessions, mentorship programs, and promoting initiatives from The HinduBusinessLine - Money & Banking https://ift.tt/rMqZT...

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Excessive outsourcing of bank’s core activities will lead to concentration risk: RBI ED Ajay Choudhary

“In line with our outsourcing guidelines, the board and senior management must ensure that at no point of time, the core activities of banks are outsourced,” Reserve Bank of India executive director Ajay Kumar Choudhary said. “We are observing an increase in the outsourcing of services to the banking and finance sector. The idea is that banks should concentrate on the development upgradation of their core banking solution.” from Banking/Finance-Industry-Economic Times https://ift.tt/b41kE...

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RBI's digital rupee a 'game changer', says SBI chairman

The Reserve Bank of India's pilot project on retail digital Rupee is a "game changer", said SBI chairman Dinesh Khara, and added that it will have durable effects which would ensure better monetary transmission at much lesser costs. The RBI on Thursday announced the launch of a digital rupee retail pilot for a closed user group. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/cfJBr...

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SBI raises ₹10K cr via infra bonds at 7.51 per cent

The amount raised will be utilized in enhancing long term resources for funding infrastructure and affordable housing segment from The HinduBusinessLine - Money & Banking https://ift.tt/5EOwZ...

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Digital rupee a game changer, says SBI chairman Dinesh Khara

SBI chairman Dinesh Khara on Friday said the Reserve Bank's first pilot project for retail digital rupee is a "game changer" with durable effects that should ensure better monetary transmission at much lesser costs. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/hvPj3...

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BlackRock’s Fink says most crypto firms will fold following FTX’s implosion

Most of the crypto companies are not going to be around: Larry Fink from The HinduBusinessLine - Money & Banking https://ift.tt/XyLeR...

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Private lender ICICI Bank to bet big on real estate sector

The initiative by ICICI Bank offers builders instant generation of account numbers for registration with the Real Estate Regulatory Authority (RERA), better statutory payments efficiently and also enables them to manage payment obligations to vendors, employees and utility providers. from Banking/Finance-Industry-Economic Times https://ift.tt/fDsu5...

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Crypto companies crash into bankruptcy

2022 was a forgettable year for the crypto industry when a number of cryptocurrencies went into bankruptcy amid market turbulence and accusations of fraud from The HinduBusinessLine - Money & Banking https://ift.tt/A3iQL...

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Can’t get away from repossession or using agents: Ramesh Iyer, M&M Finance

With business back on track, Ramesh Iyer is confident of meeting the targets on balance sheet growth from The HinduBusinessLine - Money & Banking https://ift.tt/L9dtV...

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NARCL agrees to match rare ARC's bid for SSA International's debt

Rare had offered ₹32.5 crore to top NARCL's offer of ₹31 crore under a Swiss challenge conducted by lead lender State Bank of India (SBI) last month. "NARCL has informed banks that it is ready to match the offer, which means the asset will be transferred to them," said a person familiar with the development. from Banking/Finance-Industry-Economic Times https://ift.tt/VKve7...

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Delhi HC dismisses challenge to restrictions on withdrawal from PMC Bank

"Despite sympathising with the position in which the petitioners find themselves, I am unable to grant the relief sought in this petition. The petition, along with the pending application, is therefore dismissed, but without any orders as to costs," the court said in its order dated November 30. from Banking/Finance-Industry-Economic Times https://ift.tt/9HW1X...

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RBI seen raising rates by smaller 35bps in December: Report

The Reserve Bank of India will raise interest rates by a smaller 35 basis points to 6.25% in December, according to economists polled by Reuters who expect another modest move up early next year to curb lingering inflation pressures. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/Yrw5f...

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City Union Bank authorised to enable GST payments

City Union Bank customers can pay their GST dues payable to the Government through their bank account on the GST Portal from The HinduBusinessLine - Money & Banking https://ift.tt/VDBZh...

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Share of loans to industry sector in bank credit declines to 25 per cent

Earlier, the Industry segment had a contribution of 27 per cent in bank credit, which was nearly equal to services and personal loans. The decline can be attributed to increased borrowings by manufacturing firms as the industry recorded a lower than expected rate in comparison to the bank credit.​​ from Banking/Finance-Industry-Economic Times https://ift.tt/Gfc04...

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Tamilnad Mercantile Bank authorised to undertake government business

Inks agreement appointing it as an ‘agency bank’ of RBI from The HinduBusinessLine - Money & Banking https://ift.tt/uO1tM...

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TPG Capital, other PEs eye 26% in BoB credit card arm

BoB Cards had 1.57 million credit cards in circulation at the end of October, trailing bigger peers such as HDFC Bank (16.54 million), ICICI (13.53 million) and SBI Card (15.16 million), central bank data showed. from Banking/Finance-Industry-Economic Times https://ift.tt/YloSK...

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SBI's business partner Save Solutions in talks with private equity firms to sell 12-15% of the company

With a sharp rise in loan demand in the hinterland, Save plans to use the funds to expand its own lending operation to micro, small and medium enterprises (MSME)and to micro loan borrowers. The company is looking to raise more than Rs 300 crore - to fund its lending business, managing director Ajeet Kumar Singh told ET. “A new investor will come on board,” he said. from Banking/Finance-Industry-Economic Times https://ift.tt/WOtrE...

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Indian NBFCs with strong balance sheets have muscle power to lift assets under management, says CRISIL

"There are more tailwinds than headwinds," Crisil senior director Krishnan Sitaraman said. He said that stronger balance sheets with higher capitalisation and higher provision buffers, along with receding asset-quality concerns have put NBFCs on a solid foundation to capitalise on credit demand. from Banking/Finance-Industry-Economic Times https://ift.tt/mAIyP...

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Gold firms on softer dollar as traders eye Powell's speech

Gold prices edged up on Wednesday, aided by a dip in the dollar, with investors largely focusing on Federal Reserve chair Jerome Powell's speech for insights into the US central bank's monetary policy path. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/9MWNj...

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Focus your long term financial goals

Systematic Investment Plan, abbreviated as SIP, is an easy and hassle free way to invest in mutual funds these days. The term SIP has become so synonymous with mutual fund investments these days that a lot of investors feel SIP and mutual funds are the same. from Banking/Finance-Industry-Economic Times https://ift.tt/6NeC5...

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SBI cards tops HDFC Bank in incremental card issuances

In terms of total credit cards, HDFC Bank continued to remain the market leader with 16.5 million credit cards, followed by SBI Cards at 15.1 million. ICICI Bank, at 13.5 million, and Axis Bank, at more than 9 million, are other major players in this segment. from Banking/Finance-Industry-Economic Times https://ift.tt/AzSDI...

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Out-of-court deals gain traction as lenders, companies look to avoid IBC

According to the Insolvency and Bankruptcy Board of India (IBBI), 23,417 applications for initiation of the Corporate Insolvency Resolution Process (CIRP), having underlying default of ₹7.31 lakh crore, were resolved even before their admission, as on September 31. from Banking/Finance-Industry-Economic Times https://ift.tt/yIt0H...

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Sundaram Home Finance revised interest rates upwards on FD

This is the 4th upward rate revision in since June this year from The HinduBusinessLine - Money & Banking https://ift.tt/WE9g0...

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The younger generation getting more credit conscious: Report

Gen Z borrowers monitoring their credit grew by 2.9 times in between October 2021 and September 2022, compared to overall growth of 1.8 times of the entire self-monitoring base. from Banking/Finance-Industry-Economic Times https://ift.tt/AQ3MV...

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Gold loan cos allege violation by bank branches

Gold loan companies allege bank branches operating at higher loan-to-value ratio from The HinduBusinessLine - Money & Banking https://ift.tt/7KbNw...

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ARCs shift focus as retail NPAs rise: India Ratings

The rating agency said that distress among retail borrowers since the outbreak of COVID-19 pandemic has led to an increase in the non-performing loans (NPLs) within the banking sector, which has led to an increase in the retail NPL portfolios of ARCs. The composition of asset class in the retail security receipts (SRs) issued by asset reconstruction companies (ARCs) has changed with unsecured personal and vehicles loans dominating the issuances in 2022 from Banking/Finance-Industry-Economic Times https://ift.tt/0Mkj7...

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RBI ‘reluctant’ to hand out NBFC licences to fintechs

PhonePe-ZestMoney deal to set precedent for other fintechs  from The HinduBusinessLine - Money & Banking https://ift.tt/0FwM6...

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Sintex Industries lenders agree to sell debt as resolution hangs fire

The Ahmedabad NCLT is scheduled to hear the matter on a resolution plan on December 7, according to the tribunal's website. Several issues are being heard at the tribunal, potentially delaying the resolution. Axis Bank has filed a petition with the tribunal opposing the distribution of the proceeds from the winning resolution applicant. Axis Bank was the only bank that voted against the resolution plan. from Banking/Finance-Industry-Economic Times https://ift.tt/PxQoU...

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Strong bank loan growth in FY23 despite higher interest rates: Fitch

Fitch Ratings on Monday said India's bank credit will see strong growth in current financial year despite effects of higher interest rates. It said the strong loan growth should benefit net revenue, particularly as it will be coupled with wider net interest margins. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/lULgz...

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Long Term equity fund: Features and benefits

Tax planning is as essential as financial planning. Those looking to save tax by investing in Long Term Equity Fund, they can consider starting a monthly SIP in this tax saver fund. from Banking/Finance-Industry-Economic Times https://ift.tt/YFL52...

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Invest in large-cap scheme for wealth creation

Large-cap equity mutual fund schemes can be considered by those who are looking to earn stable returns with minimum investment risk from Banking/Finance-Industry-Economic Times https://ift.tt/rzUbY...

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Bond yields lower tracking decline in oil prices, US peers

Yields opened down mainly due to a fall in oil prices but will move in a narrow range through the session, Shrisha Acharya, a fixed income dealer at Mumbai-based DCB Bank said. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/eLOjy...

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IRDAI approves Max Financial Services’ 5.17 per cent stake buy in Max Life Insurance

Max Financial Services will purchase Mitsui Sumitomo’s balance 5.17 per cent stake in Max Life at ₹85 per share from The HinduBusinessLine - Money & Banking https://ift.tt/hEVCo...

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No PSU norms for IDBI Bank after stake sale, clarifies govt

In October, the government had invited expressions of interest (EoI) for a stake sale, along with the transfer of management control in IDBI Bank. The government, along with the Life Insurance Corporation (LIC), will sell 60.72% stake in the lender. from Banking/Finance-Industry-Economic Times https://ift.tt/HS21N...

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Industry says IRDAI reforms customer-centric

‘Will attract long-term capital for the sector’ from The HinduBusinessLine - Money & Banking https://ift.tt/OaLJq...

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IDBI Bank to continue as 'Indian private sector bank' post strategic sale

The government and LIC together hold 94.72 per cent stake in IDBI Bank. The successful bidder would be required to make an open offer for acquisition of 5.28 per cent public shareholding. Pursuant to the transaction, the government will own 15 per cent stake and LIC 19 per cent shareholding in IDBI Bank, taking their total holding to 34 per cent. from Banking/Finance-Industry-Economic Times https://ift.tt/3oaJf...

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Battle for Reliance Nippon Life Insurance: Nippon top brass likely to visit India

Japan's Nippon Life, which holds 49 per cent stake in RNLIC, is opposed to the entry of Aditya Birla Sun Life in the race to acquire Reliance Capital's stake in RNLIC. The visit coincides with the deadline for submitting the final binding bids for Reliance Capital and its subsidiaries, including RNLIC from Banking/Finance-Industry-Economic Times https://ift.tt/WwUY0...

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India Inc urges RBI to moderate pace of interest rates hikes

CII’s analysis of results for nearly 2,000 companies in the second quarter (July-Sept 2022) shows that both the top-line and bottom line has moderated on sequential and annual basis from The HinduBusinessLine - Money & Banking https://ift.tt/fR29A...

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IRDAI Board revises norms for insurers, approves changes in ownership, solvency of insurance companies

from Banking/Finance-Industry-Economic Times https://ift.tt/tDE2Z...

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