All Banking & Crypto Related Details

The transaction, announced in March 2022, has been closed for a cash consideration of 116.03 billion rupees ($1.41 billion). from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/grk6Klq via IFTTT

Personal loans remained the dominant product accounting for 96% of the volume. However, given the difference in ticket size across products, it accounted for 66% of the value. Andhra Pradesh, Tamil Nadu, Telangana, Maharashtra and Karnataka accounted for 54% of the total digital lending loans. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/5hcBAGq via IFTTT

How to take advantage of cultural significance of Gudi Padwa to invest in gold smartly from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/0XBOa9n via IFTTT

How investing in gold via mutual funds can be advantageous for you from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/3MaIAsV via IFTTT

The issue got overwhelming participation from banks across Taiwan, Japan, China, and the Middle East ensuring a full subscription, including USD 500 million of the greenshoe option. At current exchange rates, USD 1 billion is worth more than Rs 8,200 crore. The deal is the largest ESG loan by a commercial bank in the Asia Pacific and the second largest social loan globally from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/eaCcYRI via IFTTT

Indian banks are not prepared to adopt environmental, social and governance (ESG) norms as part of their lending models due to reasons including a lack of clarity on how they apply to lenders, a survey showed. The RBI will likely use the findings to frame the first set of guidelines to boost green finance from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/OPNRxiD via IFTTT

The fund manager will invest a minimum of 65% of the corpus in dividend-paying companies, with the portfolio built in a manner that the overall dividend yield is at least 50% more than that offered by the Nifty50 pack. The scheme will be managed by Rohit Shimpi and its performance will be benchmarked against the Nifty 500 TRI. The minimum investment is ₹5,000 and the NFO closes on March 6. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/PuFRHkS via IFTTT

PNB is offering retail and senior citizens, respectively, at 7.25 per cent and 7.75 per cent on its 666 days bucket, Bank of Baroda's new pricing comes at 7.05 per cent and 7.755 per cent for 399 days; Bank of India is offering the same rate as that of Bank of Baroda for 444 days, while Bank of Maharashtra's new rate is 7 per cent and 7.50 per cent for 200 days. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/4CB3HSo via IFTTT

Under the new policy that was finalised a few weeks ago, the public-sector bank would give working capital as well as term loans to manufacturers of lab-grown stones against 100% collateral security and high internal rating of the borrower, said a person familiar with the bank's internal circular. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/dQs2IGR via IFTTT

By BY TARA SIEGEL BERNARD AND RON LIEBER from NYT Your Money https://ift.tt/qS4kN3g via IFTTT

The report showed that of all such fake Indian numbers, 80% are still valid and operational, and SIM cards from all private telecom operators are used to create these fake customer care numbers. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/nNlFJ9r via IFTTT

With restrictions in place, the banks, without prior approval of RBI, cannot grant loans, make any investment, incur any liability, and transfer or otherwise dispose of any of its properties. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/QY0RVcu via IFTTT

The massive jump in their gross portfolio cemented NBFC-MFIs' dominance in the sector with 38.5% market share. Only three months back, NBFC-MFIs regained their leadership in lending to the economically weaker section by overtaking banks. Banks enjoyed 35.7% market share at the end of December, according to a quarterly report published by Sa-Dhan, a microfinance industry body. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/8PI4X3f via IFTTT

By BY RON LIEBER from NYT Your Money https://ift.tt/TU9txqf via IFTTT

Guide on SWP and the benefits it offers to an investor from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/4iQLwrJ via IFTTT

PSU banks have taken the lead in raising deposit rates, offering as high as 8.5% to senior citizens for specific tenures. State Bank of India now offers 7.1% for a 400-day deposit, with senior citizens earning 7.6%. Among other nationalised banks offering attractive rates are Union Bank of India -7.3% for an 800-day deposit, and Central Bank 7.25% - for a 444-day deposit. Punjab and Sind Bank offers 8% for a 221-day deposit if done online, with senior citizens earning 8.5%. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/PQmKO7h via IFTTT

The FMCBG meeting will be spread over two days with Union Finance Minister and RBI Governor Shaktikanta Das jointly steering the G20 FMCBG discussions under G20 India's Finance Track priorities, it added. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/Vj9NA8O via IFTTT

The UPI-PayNow linkage is a significant milestone towards developing an infrastructure for cross-border payments between the two countries and the initiative closely aligns with the G20's priorities of driving faster, cheaper, and more transparent cross-border payments. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/W8m62SZ via IFTTT

Following the AQR exercise, banks' gross NPA ratio jumped to 11.5% at the end of March 2016 with the public sector banking group leading the stress at 14.5%, data from RBI showed. The banking sector gross NPA was at 3.5% before AQR. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/rbqlnRF via IFTTT

That will allow resident individuals of UAE to send money to any bank account in India via IMPS and NEFT through HDFC's digital banking channels, a release issued by the bank on Tuesday said. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/5ZAD9lC via IFTTT

The UPI linkage with Singapore's PayNow for faster and cheaper cross-border fund transfers through mobile apps is a step in that direction. The cost of international money transfer is nearly 5%, which the India-Singapore linkage can cut to less than half. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/AjDt7Kw via IFTTT

Tagit has in the past worked with banks like Citibank which have global presence. For India though, its focus is on providing end to end scalable solutions to financial institutions to service the large consumer base the country has to offer. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/1T7FmZI via IFTTT

Profit before tax rose to $1.28 billion in the year ended December 2022 from $1.11 billion a year ago. CEO Hitendra Dave said the bank will continue to expand its balance sheet in the country and look for new customers as more and more companies as well as individuals look abroad for growth. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/0pwaVIL via IFTTT

It has also brought Saksham Shubham, a former Grab senior member and WingPay chief business officer, as business head for south east Asia to drive the business operations in the Asia Pacific region. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/m8x2l5D via IFTTT

“The issue was discussed in a meeting last month. We have suggested to the RBI that instead of one week, the reporting time should be increased to around a month,” said a senior bank executive aware of the development. Under the existing framework, lenders need to report fraud to the RBI's Central Repository of Information on Large Credits (CRILC) within a week of the joint lenders’ forum (JLF) declaring an account fraudulent. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/l0uciVe via IFTTT

Bank mergers have benefited both the acquirer and the acquired, according to a report by Reserve Bank of India researchers. While the transactions have helped improve the efficiency of the acquirer banks, they have added to shareholder value for banks that have been acquired. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/MFLot9K via IFTTT

About 98.4 per cent of the depositors of the co-operative bank are entitled to receive full amount of their deposits from Deposit Insurance and Credit Guarantee Corporation (DICGC), the RBI said in a statement. Consequent to the cancellation of its licence, the bank is prohibited from conducting various activities, including acceptance of deposits and repayment of deposits with immediate effect. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/XjtMfN9 via IFTTT

The comments offer a degree of support for embattled billionaire Gautam Adani after some banks balked at refinancing a $500 million bridge loan due next month. That came after a report in January from short seller Hindenburg Research sent the group’s assets tumbling. More recently, investor sentiment got a boost when the conglomerate said it will address upcoming maturities. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/YHO09w6 via IFTTT

Net interest income of banks grew by a record 25.5 per cent to Rs 1.78 lakh crore in the December 2022 quarter on-year, driven by a healthy credit off-take and higher yield on advances, according to an analysis. The quarter saw banks booking higher yields on advances as the system-wide core profitability metric net interest margin (NIM) rose by 17 basis points (bps) to 3.28 per cent. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/fUsTPnV via IFTTT

The bank has maintained the top slot in credit growth in percentage terms consistently for the past 10 quarters despite COVID-19 pressures. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/TeOdfim via IFTTT

"If you look at our cashless transactions, the UPI, I think we record the largest number of cashless transactions in the world. So there's been a kind of a technology leapfrogging in the psyche of people, and that's been actually a very big difference," Jaishankar said at the Raisina@Sydney Business Breakfast. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/M7CxgHD via IFTTT

"We observe that bankers are highly optimistic of credit demand across all the main sectors in the coming quarters, viz., Q4:2022-23 to Q2:2023-24," a paper based on the survey released in the February bulletin of the RBI said. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/z6P4iNB via IFTTT

By BY ANN CARRNS from NYT Your Money https://ift.tt/h5kgjEb via IFTTT

An ETF, or Exchange Traded Fund, is a type of mutual fund that trades on the stock market like a single stock. ETFs are designed to track a particular index, such as the S&P 500. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/ZJUDoNg via IFTTT

Debt funds are suitable for investors with a low to moderate risk appetite. Debt funds are less volatile in the short term and therefore less risky than equity funds. Debt funds are recommended to conservative investors who don’t want to place a bet on equity funds. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/JzXvd0e via IFTTT

State-owned Bank of Baroda (BoB) has increased its MCLR by 5 bps across all tenors from February 12. The bank has revised one-year MCLR to 8.55% from 8.5%. The overnight, one-month and three-month MCLRs stand at 7.9, 8.2 and 8.3%, respectively, according to its website. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/b86znu1 via IFTTT

The net asset value (NAV) is the value of a mutual fund scheme on a particular day. You can ascertain the value of your investments by multiplying the NAV with your unit balance. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/MC6ORJX via IFTTT

Triton had offered ₹210 crore in cash to creditors of AMW Motors at more-than-94% haircut to lenders that have admitted claims of ₹3,756 crore. The NCLT had approved the plan in December giving Triton 45 days to complete the transaction. However, Triton failed to make the payment in the stipulated time as a result of which the guarantee was invoked, people familiar with the matter said. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/FntPsYV via IFTTT

Certain African countries that are facing foreign exchange problems and issues with US Dollar and Euro mobilisation are showing interest in the rupee (INR) trade mechanism. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/vEUoRTY via IFTTT

Designed by the National Payments Corporation of India (NPCI), UPI LITE was launched by the Reserve Bank of India in September 2022. It also de-clutters the bank passbook of small value transactions, as these payments would now only show in the Paytm balance and history section, and not in the bank passbook. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/crK8Lzx via IFTTT

“The principle underlying the Digital Lending Guidelines is that a LSP should not be involved in handling of funds flowing from the lender to the borrower or vice versa,” the RBI said. “While entities offering only payment aggregator (PA) services shall remain out of the ambit of ‘Guidelines on Digital Lending’, any PA also performing the role of an LSP must comply with the Digital Lending Guidelines.” from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/hizuevD via IFTTT

According to a press release, the MoU will establishes a framework of partnership between the two banks for providing financial services to corporate customers operating in the India–Europe corridor. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/j9UlDNR via IFTTT

Institutional investors such as mutual funds, including Reliance Nippon, and individuals had put as much as ₹8,415 crore in Yes Bank's AT-1 bonds. Subsequently, the bank's AT-1 retail bondholders moved court to challenge the decision and reclaim their money. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/8J1h2sn via IFTTT

HDFC Bank has begun the pilot in a partnership with Crunchfish, IDFC Bank and M2P Fintech under the RBI's regulatory sandbox programme after getting the nod in September 2022, it said. The lender will roll-out this service as part of a limited pilot for four months in more than 16 cities and towns across the country. The offline transaction amount would be limited to up to Rs 200 per transaction. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/M0wVZ51 via IFTTT

Reasons why the world’s growth is slowing is that the major economies across the globe are experiencing a decline in growth from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/GxyK61O via IFTTT

"They're solid, cash generating companies, so we're not concerned about the exposure," he told reporters at a media briefing on Monday. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/dhQZDUW via IFTTT

For a sample of 29 banks, the bad loan provisioning fell by 27.6% year-on-year to Rs 23,080.6 crore in the December quarter. NII increased by 34.5% to a record Rs 1.8 lakh crore. NII is calculated as the difference between total interest earned and interest expended. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/i3ue1wl via IFTTT

By BY TARA SIEGEL BERNARD from NYT Your Money https://ift.tt/5y1LgGd via IFTTT

By BY ANN CARRNS from NYT Your Money https://ift.tt/10cIZ8e via IFTTT

The bank is planting its sights more firmly on the ultra-rich in India, where the wealth held by billionaires has crossed $400 billion from $148 billion in 2016. It also plans to launch an onshore private banking service in the South Asian country this year. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/6tnojrf via IFTTT