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
Read More >>

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
Read More >>

🗠 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
Read More >>


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