SBI receives AA/Stable rating from CRISIL

SBI group is the largest player in the banking sector in India, with domestic market share of 24 per cent in deposits and 20 per cent in advances as on March 31, 2023 from | The HinduBusinessLine https://ift.tt/xRFjp...

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Ant Group fined $985 million by Chinese regulators

Ant Group has been fined CNY7.12bn ($984m) by Chinese authorities, bringing to an end a regulatory revamp. The central bank, which has been leading the overhaul, ordered Ant to compensate users and halt operations at its Xianghubao service, in one of China's largest-ever fines for an internet company. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/N7keb...

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HDFC Bank to replace HDFC Ltd on MSCI indexes

The share price of both companies slid in May after MSCI said that it would use an adjustment factor of 0.50 to compute the weightage of the merged entity, which Nuvama Research estimated would likely lead to a combined outflow of $150-$200 million. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/Klsh9...

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PFRDA head says aiming for 13 lakh non-govt NPS enrollments in FY24

‘NPS continues to be an attractive product due to its low cost’ from | The HinduBusinessLine https://ift.tt/Aasmd...

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RBI presses ahead with VRRR to suck out excess liquidity from banking system

Conducts 4-day VRRR for ₹2-lakh crore from | The HinduBusinessLine https://ift.tt/617yW...

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Loan securitisation volumes seen 60% up in Q1

HDFC merger likely to impact volumes, says ICRA from | The HinduBusinessLine https://ift.tt/Zbp0q...

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Mudra loans disbursal up 23% at 81597 crore in Q1

In the last financial year ended March 2023, the disbursements of small business loans Yojana (PMMY) registered an all time high at ₹4.50-lakh crore from | The HinduBusinessLine https://ift.tt/Klhwr...

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HDFC merger: PSBs told to push deposits mop-up

A presentation by the department of financial services for the FM's meeting with bank CEOs had flagged the prospect of deposits coming under pressure due to the merger of HDFC. Similarly, the government was of the view that the country's largest private lender will also tap HDFC customers for loans, sources familiar with the deliberations told TOI. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/VfYj8...

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FM asks bank chiefs to step up rural credit flow focus on small and marginal farmers

Also advises banks to meet the credit needs of street vendors; banks must also meet sub-categories targets of priority sector lending, says Sitharaman from | The HinduBusinessLine https://ift.tt/KQhq1...

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SBI Indias biggest bank rejigs senior leadership to boost dominance

Rajay Sinha, chief general manager in charge of global markets, will become managing director and chief executive at the brokerage arm SBI Capital Markets Ltd, the people said, asking not to be identified as the details aren’t public. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/DIwRq...

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Bitcoin at 13-month high

Rising by as much as 3.28 per cent to $31,500 from | The HinduBusinessLine https://ift.tt/1u7sa...

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IBA sets up 5-member group to implement RBI committees recommendations on ARCs

The central bank wants IBA and SLMA to take measures for early implementation of the committee’s recommendations in consultation with the lenders and ARCs from | The HinduBusinessLine https://ift.tt/Cfn6o...

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Karnataka Bank opens digital hub in Bengaluru

The hub aims to accelerate Karnataka Bank’s growth journey by strengthening traditional branches and opening new channels for business from | The HinduBusinessLine https://ift.tt/Tbw7e...

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RBI panel moots multi-pronged plan to internationalise rupee

Recommends a host of measures, including facilitating a Local Currency Settlement (LCS) framework for bilateral transactions in local currencies, and encouraging opening of INR accounts for non-residents, both within and outside India from | The HinduBusinessLine https://ift.tt/vX9uf...

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Visa Matercard or Rupay? RBI wants card users to decide not banks

These changes will be effective October 1 and stakeholder feedback is invited by Aug 4 from | The HinduBusinessLine https://ift.tt/0SRkW...

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Groww introduces UPI with Pay feature

Groww app intrgrates UPI in-line with NPCI from | The HinduBusinessLine https://ift.tt/Bs1aP...

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Sensex Nifty close flat as auto consumer stocks offset slide in financials

Indian shares were mostly unchanged on Wednesday due to the rise in auto and consumer stocks offsetting the fall in financials. Nifty index rose 0.05% to 19,398.50, while the BSE Sensex lost 0.05% to 65,446.04. Financials lost 0.82%, with HDFC and HDFC Bank stock falling over 3%. Smallcaps and midcaps indexes hit new 52-week and record highs, respectively. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/GUR80...

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Paytm loan disbursals grew 167% in Q1

For Paytm, the number of loans disbursed was up 51 per cent, and merchant payment volume was up 37 per cent in Q1 at ₹4.05 lakh crore. from | The HinduBusinessLine https://ift.tt/Q3UXS...

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Plum ventures into business insurance aims to become profitable by FY25

Plum will offer curated and customisable business insurance products to help businesses thrive in an increasingly complex and challenging landscape. from | The HinduBusinessLine https://ift.tt/37RDW...

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TruCap Fin to focus on cluster lending to tap MSMEs

To expand in smaller towns from | The HinduBusinessLine https://ift.tt/G5wmN...

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Massive portfolio rejigs underway at HDFC Bank

Board positions across subsidiaries are also expected to be filled soon  from | The HinduBusinessLine https://ift.tt/ZwS2Y...

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Indian Overseas Bank unveils RuPay Select Debit card luxury benefits

IOB RuPay Select Debit card offers “luxury, convenience and security” from | The HinduBusinessLine https://ift.tt/iPrEU...

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Bank of India rolls out Mahila Samman Savings Certificate scheme

The scheme offers an interest rate of 7.5% per annum from | The HinduBusinessLine https://ift.tt/jYXUQ...

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IDFC First Bank slips IDFC hits record high after merger approval

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/to31l...

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IndusInd Holding to raise $1.5bn to up stake in bank

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/7iEQH...

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Medical insurance premiums surge by 10-25% due to rising costs increased demand

The cost of healthcare services has been rising due to factors such as inflation, expensive treatments, and procedures from | The HinduBusinessLine https://ift.tt/KgWcn...

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RBI says 76% of Rs 2000 notes returned to banks

As much as 76% of the Rs 2,000 notes in circulation have been returned to banks, mostly through deposits, the Reserve Bank of India said on Monday. ​​On May 19, RBI announced withdrawal of Rs 2,000 notes in circulation and gave public time till September 30 to either deposit the currency notes in their bank accounts or get them exchanged. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/rIvf7...

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Consumer Confidence Survey: The future does look a little brighter says RBI DG Patra

Inflation forecasts also perform the role of communication tools, giving the public a sense of the future direction of monetary policy, Patra said from | The HinduBusinessLine https://ift.tt/CzEpk...

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Federal Banks deposits and advances up 21% YoY in Q1

At the end of Q1, Federal Bank’s total deposits and gross advances stood at ₹2,22,513 crore and ₹1,86,593 crore, respectively from | The HinduBusinessLine https://ift.tt/pfF9c...

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SBI enables cardless cash withdrawal from any bank ATM

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/8huGi...

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SBI launches upgradedversion of YONO app

SBI has introduced the enhanced YONO app, along with the Interoperable Cardless Cash Withdrawal (ICCW) feature from | The HinduBusinessLine https://ift.tt/q3VNp...

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Merger raises HDFC Bank's total business to over Rs 41 lakh crore

The reverse merger of HDFC with its subsidiary HDFC Bank effective Saturday has increased the total business of the merged entity to over Rs 41 lakh crore, closer to the country's biggest lender SBI.The total business (deposit and advances) of State Bank of India (SBI) stood at Rs 70.30 lakh crore at the end of March 31, 2023.However, the combined profit is higher at Rs 60,000 crore as compared to Rs 50,232 crore recorded by SBI in FY23. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business...

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