There is a need to mobilise domestic and international flows to meet Indias green finance requirements: SBI Chief Khara

SBI, in a statement, said India ranks 7th among the world’s most affected countries by climate change, yet a relatively small share (about 7 per cent) of climate capital flows into the country.

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Urban co-op banks seek increase in gold loan limit from 2 lakh to 5 lakh

RBI permitted bullet repayment of gold loans up to ₹1 lakh to start with (in 2007), which was increased later (in 2014) to ₹2 lakhs, with the repayment being restricted to 12 months.

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RBI allows HDFC Bank tohold CPs issued till date by HDFCtill their maturity

The bank cannot roll over or reissue any commercial paper after the effective date of the proposed amalgamation of HDFC with the former

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IndusInd Bank Wise partners to enable NRIs transfer fund to India

The collaboration aims to provide easy transfer of money from NRIs in USA and Singapore to Indian residents

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IRDAI to strengthen consumer protection enhance grievance redressal in insurance sector

IRDAI also plans to shift to a risk-based capital regime and is fine-tuning the Bima Sugam platform while working on launching a Health Claims Exchange.

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Incremental Credit-Deposit ratio of Scheduled Banks declined in the financial year so far

The C-D ratio since March-end till June 2, declined to 50.24 per cent against 95.17 per cent in the year-ago period

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India's forex kitty declines by $1.32 billion to $593.75 billion

India's forex reserves dropped by $1.318 billion to $593.749 billion for the week ended June 9, the Reserve Bank of India said on Friday. The overall reserves had jumped by $5.93 billion to $595.067 billion for the previous reporting week. It can be noted that in October 2021, the country's forex kitty had reached an all-time high of $645 billion. The reserves have been declining as the central bank deploys the kitty to defend the rupee amid pressures caused majorly by global developments.

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EbixCash IPO to debut in July. Know how to apply

Guide on how to apply for IPO, and eligibility criteria for IPO

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Kotak Mahindra Banks board approves issuance of NCDs aggregating up to 7000 cr in FY24

The NCD issuance will be in one or more tranches on a private placement basis

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Markets rebound in early trade on firm global equities foreign fund inflows

The 30-share BSE Sensex jumped 280.62 points to 63,198.25 in early trade. The NSE Nifty climbed 82.8 points to 18,770.90. From the Sensex pack, UltraTech Cement, State Bank of India, Nestle, ICICI Bank and Reliance Industries were the major gainers. Tata Consultancy Services, Wipro, Power Grid and Maruti were the biggest laggards.

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Freeze Mehul Choksis accounts Sebi tells banks MFs

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European Central Bank hikes rates again and vows more after US Fed hits pause

The European Central Bank pressed ahead with another interest rate hike on Thursday and pledged more are on the way, aiming to crush inflation that is driving up the cost of groceries even after the US Federal Reserve took a break from its own string of increases. The quarter-point rate boost, to 3.5 per cent, is the eighth straight increase since July 2022 for the 20 countries that use the euro currency.

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Microfinance makes a re-entry into AP and Telangana

Currently only four players are operating in these two States

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NaBFID raises 10000 crore through listed bonds

NaBFID, a government-backed institution’s infrastructure bonds were oversubscribed by almost 4.7 times, highlighting strong investor demand.

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CCI approves acquisition of certain shareholding in Ambit by Daiwa International

The Combination relates to the acquisition of a certain shareholding in Ambit Private Limited through a combination of primary subscription of shares and secondary share purchases from existing shareholders

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NBFCs' micro loan growth beats banks'

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Bank unions oppose RBI's decision to allow compromise settlement for wilful defaulters

Bank unions AIBOC and AIBEA have opposed the Reserve Bank's move to allow lenders to settle loans of wilful defaulters under compromise settlement.The RBI's recent 'framework for compromise settlements and technical write-offs' is a detrimental step that may compromise the integrity of the banking system and undermine the efforts to combat wilful defaulters effectively, unions said in a joint statement.

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Microfinance AUM up 22% in FY23, MFIs top lenders with 40% share

The number of active microfinance loan accounts increased 14.6 per cent to 13 crore as on March 2023

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Indian banks to be resilient, profitable despite global challenges

Moody’s Indian affiliate ICRA expects gross NPA ratios of banks to improve to a decade-best of 2.63% for FY24

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Fino Payments Bank joins Hubble to introduce spending account

Customers can park their funds, spend on categories such as food ordering, shopping, travel, entertainment, etc. and save up to 10 per cent on all purchases made from the account

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India Mortgage Guarantee Co to support securitisation transactions

IMGC’s guarantees will do the job of the cash collaterals for lenders

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Cumulative impact of monetary policy actions over last one year still unfolding: RBI Guv Das

Says India will remain among the fastest-growing large economies in 2023

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Acemoney launches all-in-one payment device

Customers will be able to withdraw cash using biometric system that facilitates card-based or Aadhaar-based financial transactions.

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Indel Money expands operations to build a pan-India presence

The company disbursed loans worth around ₹3000 crore in FY23.

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UBS completes takeover of Credit Suisse

UBS announced Monday it had finalised the takeover of its former rival Credit Suisse, clearing the way for the Herculean task of integrating two of the world's most important banks.The mega-merger of the biggest banks in Switzerland will be closely watched by clients, employees, politicians and regulators.

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Digital loan disbursal volumes bounce back after Q3 de-growth: FACE

According to FACE report, lenders disbursed over 1.9 crore loans during the quarter, 61 per cent higher compared with the corresponding quarter of the previous year

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South Indian Bank launches digital platform for hassle-free account opening

SIB SWIFTe, a user-friendly and intuitive interface, provides clear instructions and visual cues to guide both customers and bank representatives through each step

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World Bank needs new playbook to boost private investment in emerging markets: Ajay Banga

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Economic growth to sustain till FY25, says RBI survey

Merchandise exports to fall 3% FY24, imports seen 4% lower

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Specific insurance plans for surrogate mothers on the anvil

IRDAI has directed all insurers to ensure availability of suitable products

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Star Health founder V Jagannathan resigns from the Board

With his resignation, Jagannathan has quit the board positions too

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Future Enterprises’ RP invites EoIs for resolution

Last date for submission is June 25

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SEBI's SCORES platform disposes of 2,457 complaints in May

SCORES, the grievance redressal system, was launched in June 2011.

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LIC to hold roadshows in Hong Kong, UK in June

Sources said that the roadshows are aimed at creating awareness among global investors post-listing of LIC shares.

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