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Speaking at 'Digital Payments Utsav', Vaishnaw said it will be rolled out like UPI service and will be a big achievement under Prime Minister Narendra Modi's vision of 'Digital India'. "This year we will be rolling out digital credit and NPCI will take a big lead in that over a period of next 10-12 months. A good construct of digital credit will be created," Vaishnaw said. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/P2Ht9Yw via IFTTT

The move comes a day after the Reserve Bank of India delivered another interest rate hike of 0.25 per cent on Wednesday. Deposit rates generally trail the lending rates, where the transmission happens first courtesy a bulk of new loans being made under external benchmarks like the RBI's repo rate. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/OBsxydR via IFTTT

By BY TARA SIEGEL BERNARD from NYT Your Money https://ift.tt/kyvMsi9 via IFTTT

The RBI has hiked rates in five consecutive policy reviews since May 2022 in order to curb inflation, which has led to an overall jump in the interest rates in the system. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/vRqDx7a via IFTTT

Barclays Plc, Standard Chartered Plc and Deutsche Bank AG are among banks that lent Adani $4.5 billion to finance the purchase of Holcim Ltd. cement assets last year. A portion of that loan is due March 9. An Adani spokesperson said the conglomerate had been in talks with banks to refinance that part of the loan but has decided to prepay it. The spokesperson said discussions with the banks have not stalled. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/vgczIXb via IFTTT

The retail CBDC is available for only 50,000 users now and 5,000 are merchants. The service is being offered on an invitation basis by eight banks across five cities now, RBI Deputy Governor T Rabi Sankar told reporters at the customary post-policy presser. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/BAmS8ch via IFTTT

Guide on how ETFs are known as passive investment vehicles from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/ayApGjI via IFTTT