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RBI net short forward position rises to $200 b

In August, the Reserve Bank's net short forward positions increased significantly to $200 billion. This rise follows a net short position of $136 billion recorded in July. Long dollar positions also saw an addition, indicating ongoing market adjustments. Economists suggest that the RBI is facing challenges in managing these short positions effectively. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/PIMGbvK via IFTTT
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RBL Bank gets show cause notice with GST demand of over Rs 173 crore

RBL Bank said it received a showcause notice from Maharashtra GST authorities proposing a demand of over Rs 173.08 crore, including interest and penalty, over alleged wrongful input tax credit availment in FY23. The bank said it will respond and expects no material financial impact, citing favourable orders on an identical issue. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/oMBktOE via IFTTT
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Bank deposit rates fall as fresh lending rates rise in August

In August, banks lowered the weighted average rate on fresh rupee term deposits to 5.67%. At the same time, the average lending rate on new loans increased to 8.61%. Public sector banks experienced a decrease in deposit rates, while private banks faced a similar trend. Lending rates varied based on loan types, with personal loans seeing a significant increase. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/9OAH8fa via IFTTT
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HDFC Bank names ICICI veteran banker V.N. Srivatsan as Chief Compliance Officer

HDFC Bank has appointed V.N. Srivatsan as its Chief Compliance Officer for a three-year term, effective from his joining date on January 4, 2027. Srivatsan, currently Head – Compliance: Overseas Banking and Subsidiaries & Data Privacy Officer at ICICI Bank, has around 34 years of professional experience, including 25 years in BFSI. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/41SQeYZ via IFTTT
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SBI seeks clarity on bank accounts under proposed FCRA rules

State Bank of India presented to the Joint Parliamentary Committee regarding the Foreign Contribution (Regulation) Amendment Bill. Officials raised concerns about gaps in foreign donation handling when registration lapses occur. They suggested that clear banking procedures be established for affected organizations. The bill proposed transferring compliance responsibilities to a government-designated authority in certain cases. Opposition parties criticized the bill for potentially disadvantaging minority groups and impacting foreign funding for NGOs. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/uaRJVwd via IFTTT
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Credit Saison diversifies into secured, expects it to be 30% of loans by FY27

Credit Saison India is expanding its MSME lending portfolio by increasing secured loans, particularly in Tier 2 and Tier 3 towns. The company plans to raise the proportion of secured loans to 30% by the end of this fiscal year. With a current loan book of Rs 25,000 crore, it aims to open more branches across the country. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/LRmJWiq via IFTTT
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MDR rollout will be monitored to protect users

Tax issues Levy of goods & services tax on MDR can be taken up by GST Council, ITC may be used by merchants. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/cuDiWh9 via IFTTT
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