All Banking & Crypto Related Details

Life Insurance Corporation of India received approval from the Reserve Bank of India. This allows LIC to increase its stake in HDFC Bank to 9.99 percent. Currently, LIC holds 4.11 percent of HDFC Bank's total share capital. The approval grants LIC flexibility to raise its investment in the lender. This development strengthens LIC's financial services sector exposure. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/z3AfVBr via IFTTT

Public sector banks offered many bad loans previously for sale. Nearly eighty percent of these loans were repeat sale attempts. Indian Overseas Bank and Indian Bank led these repeated offerings. Private sector banks showed a sharp contrast with few repeat sales. This highlights challenges in selling large legacy corporate accounts. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/URpMidG via IFTTT

HDFC Bank reduced its lending rates by five basis points across maturities. Bank of Baroda will increase its three-month lending rate by ten basis points. HDFC's new rates became effective from August seventh for various tenors. Bank of Baroda's revised rate will take effect from August twelfth. The banks are adjusting their marginal cost of funds based lending rates. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/CawXpH0 via IFTTT

Standard Chartered secured in-principle approval to offer wealth management products in GIFT City. The International Financial Services Centres Authority granted this crucial regulatory approval. The bank plans to launch its retail wealth management offerings within the next few months. This move supports GIFT City's goal of becoming a leading international financial services hub. Standard Chartered is the first foreign bank to operate in GIFT City since 2020. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/AlRqIO8 via IFTTT

Finance minister Nirmala Sitharaman said public sector banks are operating with “considerable strength” and urged them to use it with “greater ambition”. At the PSB Confluence, she asked banks to launch a month-long ‘Banking for Youth’ campaign from October 2 and build awareness among young people about formal credit. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/exSR63G via IFTTT

The RBI’s proposed curbs on flexi loans could reshape how India’s self-employed workers and small businesses borrow. While the move aims to prevent evergreening of bad debt, it could also restrict a useful source of flexible working capital. The bigger question is whether tighter oversight can curb misuse without shutting out genuine borrowers. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/pgDrY3W via IFTTT