People’s Bank of China now holds 1.1% of HDFC

People’s Bank of China (PBoC) has entered the exclusive club of foreign portfolio investors (FPIs) with over one per cent stake in Housing Development

from Business Line - Money & Banking https://ift.tt/2wxl778

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Banks' business correspondents seek relaxation in GST & TDS

They have alleged that banks are passing on added tax liabilities on their agents operating in rural areas and underbanked urban localities, thereby affecting their daily livelihoods. This is impacting their ability to operate smoothly, hindering timely disbursement of government’s Rs.1.75 lakh crore relief package to those most in need of it.

from Banking/Finance-Industry-Economic Times https://ift.tt/2RzfMUi

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China’s central bank raises equity stake in HDFC; takes shareholding above 1%

PBOC had earlier acquired stakes in foreign companies. For instance, in 2014 it bought stakes in multiple Italian firms such as insurance firm Generalli, car company Ford, oil and gas firm Eni etc.

from Banking & Finance – The Financial Express https://ift.tt/2RvsZgK

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View: Private banks need to realign with emerging realities

By removing cross-border headaches, and giving clients an online platform to trade, a bank improves its operations and provides a niche competitive service to clients that rivals that of the online brokers.

from Banking/Finance-Industry-Economic Times https://ift.tt/3c5AeDU

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Credit growth, lowest in 58 years with more than a third growth in last fortnight

After recording a very tepid growth on the back of weak demand throughout the year, bank loans surged rapidly in the last three fortnight to end the financial year at 6.1 per cent growth with outstanding bank credit at Rs 107.3 lakh crore as of end March 27.

from Banking/Finance-Industry-Economic Times https://ift.tt/2VjRwXa

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