Top Indian Banking Industry News & Updates - 03 July 2023,Monday
🗎 RBI / MoF / Govt. Policies
📝 Nirmala Sitharaman lauds PSBs, says profit almost tripled to Rs 1.04 lakh crore in FY23
📝 Twin balance sheet advantage, says FM Nirmala Sitharaman
📝 Policymaking has become more data-intensive, says RBI Governor at Statistics Day conference
📝 Banks to start reporting on new CIMS: RBI Governor
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🏦 PSB / Pvt Banks
📝 SBI launches fully revamped YONO app; to have UPI features like scan & pay
📝 Banks' net interest margin jumps 46 basis points to 3.3% in March quarter, says report
📝 SBI appoints Kameshwar Rao Kodavanti as CFO
📝 Aim to double every four years: HDFC Bank MD after merger
📝 HDFC merger gives bank a runway to double every four years: CEO Jagdishan
📝 HDFC Bank starts rebranding HDFC Ltd offices, branches after merger
📝 SBI launches 34 Transaction Banking hubs nationwide to drive growth
📝 Indian Bank rolls out digital services under ‘Project WAVE’ initiative
📝 Debadatta Chand takes charge as Bank of Baroda MD
📝 Vault Matters: The uproar around unsecured loans
📝 Bank of Baroda plans to divest up to 49 pc in credit card arm
📝 HDFC Bank wants to harness HDFC's bond with customers, says CEO Jagdishan
📝 Can HDFC be the same under HDFC Bank?
📝 What’s next for DBS after acquiring Lakshmi Vilas Bank?
📝 Net profits of PSU banks almost trebled: Sitharaman
📝 Mcap of top-10 most valued firms jumps ₹1.88 lakh crore; HDFC Bank, TCS biggest gainers
📝 Merger: HDFC 4th most valuable bank of world
📝 HDFC Bank chief targets accelerated growth, aims to create a new bank every four years
📝 PNB partners Amul for Mudra loans to retailers and dealers
📝 Indian Bank rolls out digital services under ‘Project WAVE’
📝 SBI revolutionizes transaction banking with 34 new hubs, Dinesh Khara commends remarkable turnaround
📝 Bandhan Bank revises FCNR deposits, lending rates from 1 July; check latest interest rates here
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🏦 Co-operative Banks / RRBs
📝 RBI imposes Rs 65 lakh penalty on AP Mahesh co-op bank
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🏠 Housing Finance
📝 Deepak Parekh bids adieu: Why the man who built HDFC never owned more than 1% of it
📝 Share of housing loans in total advances rises to 14.2 pc in 11 years: RBI report
📝 Why Indian industry finds Deepak Parekh’s impact well beyond that of an iconic institution builder
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🏦 Development Banks
📝 Expert panel on devpt banks considers SPV for climate fin
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💳 ATMs / Credit Cards
📝 SBI offers cardless cash facility for all bank users
📝 How merchant discount rate can drive credit card acceptance in a big way
📝 Credit cards: Balance transfer can reduce debt; Lower interest rates will allow you to pay the principal faster
📝 No card needed! SBI introduces new cardless cash withdrawal feature
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🗎 NBFCs / FIs / MFI
📝 Muthoot Microfin files preliminary papers for Rs 1,350 crore IPO
📝 NBFCs overtake bank stocks in FY24. Here’s why
📝 Lesson as a lender: Shriram Group focusses on stakeholder advantage during merger
📝 Sudipta Roy to helm L&T Finance Holdings from Jan 2024
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UPIs / Wallet / FinTech
📝 UPI falls marginally in June to Rs 14.7 trn, with 9.33 transactions
📝 TRENDLYNE: A financial platform that simplifies investment
📝 SBI launches upgraded version of YONO app & Interoperable cardless cash withdrawal through ATM
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🗠 Bourses
📝 NSE explores carbon credit market, introducing electricity derivatives
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Crypto
📝 How blockchain is revolutionising cross-border payments
📝 Indian Crypto Traders Wait to Break Even in Bull Run
📝 Can insurance schemes bring back cryptocurrencies back to life
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🗠 Mutual Funds / AMCs
📝 5 SIPs that made good fortune for equity mutual fund investors
📝 ‘Valuations optically rich but still reasonable’: Jiten Doshi, co-founder & chief investment officer of Enam AMC
📝 For mutual funds, a temporary relief on expense ratio rules
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🗎 Equities, Pvt. Equity / Hedge Funds
📝 FPIs pump over ₹1-lakh crore in Indian equities; inflows hit nine-quarter high in Q1
📝 PE-VC investments in Q2’23 decline 33% to $9.9 b: Venture Intelligence data
📝 HC stays Income Tax reassessment of PE Creations' investment
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