RBI MPC starts deliberations amid expectations of status quo in policy rate
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The Reserve Bank's rate-setting panel began its three-day deliberations on Monday to decide the next monetary policy amid expectations that the central bank will maintain status quo on interest rate
India has 4th largest foreign exchange reserves in world: MoS finance
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India currently has the fourth largest foreign exchange reserves in the world, Minister of State for Finance Pankaj Chaudhary told Lok Sabha on Monday.
As on November 19, 2021, he said the forex reserve stood at USD 640.4 billion.
Replying to another questi
India has different types of bank accounts for different purposes. Find out the various types of accounts that can help you decide which one suits your requirements best
What explains the lure of pay-later cards like Slice and Uni?
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New pay-later cards are making their way into people's wallets, who don't even have a credit history. Let us find out why these pay-later cards are catching up and what is luring people towards them
IT min asks bankers to create robust platform for easy credit availability
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IT Minister Ashwini Vaishnaw exhorted the banking industry to create an innovative digital platform for providing quick and easy credit to MSMEs, small businessmen, and those at the bottom of pyramid.
Tightening of norms may increase NBFCs' headline NPAs by one third: Ind-Ra
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Tightening of norms may increase non-banking finance companies' (NBFCs) headline non-performing advances (NPA) by around one third, India Ratings and Research (Ind-Ra) said.
Forex reserves down by $2.713 million to $637.687 billion
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The country's foreign exchange reserves declined by USD 2.713 billion to USD 637.687 billion in the week to November 26, RBI data showed.
In the previous week ended November 19, the reserves had increased by USD 289 million to USD 640.401 billion. It touche
RBI new norms likely to increase NBFCs bad loans by one-third: Study
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Last month, the RBI had provided clarification on income recognition asset classification and provisioning (IRAC) norms for banks, NBFCs and All-India Financial Institutions
India reaching out to many nations to leverage stack it has built: NPCI CEO
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Speaking at the InFinity Forum, Dilip Asbe said there has to be a local or domestic stack because every country has its own complexities and diversities
Indian banks behind on digital adoption, it's time to wake up: Uday Kotak
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Says banks must be able to feed huge data being churned out by the financial system into analytics and ML. Turnaround time must give an MSME clarity on a loan in minutes, if not seconds
Need collective global action for effective regulation of tech: Sitharaman
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Nirmala Sitharaman on Friday called for a «collective global action» for effective regulation of ever-changing technology and tech-driven payment systems.
Rupee trades in narrow range in morning trade against US dollar
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Indian rupee was trading in a narrow range in morning trade on Friday amid uncertainties over the global economic recovery in the wake of the emergence of Omicron.
At the interbank foreign exchange, the rupee opened at 74.98 against the dollar. It touched a
Bank unions call for two-day nationwide strike on December 16-17
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United Forum of Bank Unions convener Mahesh Mishra on Thursday said the government wants to pass the Banking Reforms Bill in the current session of Parliament, paving the way for privatisation
Canara Bank raises Rs 1,500 crore via Basel-III compliant bond
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State-owned Canara Bank on Thursday said it has raised Rs 1,500 crore by issuing Basel-III compliant bonds.
«Our bank came out with issuance of Rs 1,500 crore of additional tier I bonds on 30th November 2021.
»The bank received total bid amount
Rupee gains 22 paise to end at 74.91 against US dollar
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The rupee gained 22 paise to close at 74.91 (provisional) against the US dollar Wednesday as positive domestic equities and a weak American currency in the overseas markets boosted investor sentiment
Need to resurrect concept of gold bank to monetise physical gold: R Gandhi
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There is a need to establish a gold bank in the country to help monetise physical gold lying with people, Reserve Bank of India's former deputy governor R Gandhi said on Wednesday.
He said the country needs to play along with the Indian psyche of the strong
States improve fiscal position, but local bodies still suffer: RBI report
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Covid worsened finances of local govts in 2020-21 and 2021-22; local authorities would lose 15-25% of their revenues in 2021, which may make maintenance of current level of service delivery difficult
Rupee pares initial gains, settles 10 paise lower at 75.17/dollar
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The rupee on Tuesday pared its initial gains to settle 10 paise lower at 75.17 (provisional) against the US dollar as investor concerns grew over fresh impact of new COVID variant on the economy
Issued no direction to banks to not give loans to 'sensitive customers': FM
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Sitharaman, during Question Hour in the Rajya Sabha, said there is no «official stated policy» directing banks not to give loans to certain categories of customers.
Governance, transparency in Indian banks weak by global standards: S&P
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The lack of improvement in risk management and corporate governance in the coming growth cycle could produce a new crop of sour loans, the rating agency said
Understanding provident fund and public provident fund
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Those working in the private sector don't have retirement benefits like pension. The retirement corpus they build over the years is through provident fund (PF). But what are PF and PPF? Let's find out
Rupee plunges by 23 paise, slips below 75 a dollar on Omicron worries
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The rupee on Monday plunged by 23 paise to close at 75.12 (provisional) against the US dollar, as investors turned cautious in view of a new variant of COVID-19.
NBFC fragile assets likely to rise to 5-6% by March 2022: Crisil
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Asset quality pressures vary across asset classes. While home and gold loans have been relatively less affected, unsecured credit and SME loans faced brunt
IndusInd Bank's subsidiary defers review of decision to relieve top 2 execs
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Last week, the bank had said that the two top executives of BFIL cannot be relieved from their positions until the review of certain transactions at the company is completed
