Top Indian Banking Industry News & Updates - 04 July 2023,Tuesday
🗎 RBI / MoF / Govt. Policies
📝 Over 75% of Rs 2,000 notes returned by users to banks
📝 Monetary policy making is like flying blind due to lagged data, says RBI deputy governor Michael Patra
📝 Bank credit to micro, small enterprises up 14.5% YoY in May under priority sector lending: RBI data
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🏦 PSB / Pvt Banks
📝 IndusInd Bank holding co to raise $1.5 bn to fund RCap buy, increase stake in lender to 26 pc
📝 After HDFC twins, IDFC First Bank plans merger with IDFC; board gives approval
📝 Federal Bank’s deposits and advances up 21% YoY in Q1
📝 Federal Bank shows strong business in Q1; total advances, gross advances up by 21% each
📝 Bank of Maharashtra clocks 25 per cent loan growth
📝 HDFC twins’ merger could lead to more real estate opportunities for AIFs, NBFCs
📝 Five banks post healthy y-o-y growth in advances
📝 HDFC twins shine as analysts see all-round benefits
📝 HDFC Bank at record high post HDFC-merger, among world's top 10 banks by value
📝 Will follow path and structure of ICICI, HDFC Bank: IDFC First Bank CEO
📝 Made it a point to ensure zero customer disruptions: HDFC Bank Deputy MD
📝 SBI gives ₹22 crore to IIT-Bombay to strengthen its data analytics, AI capabilities
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🏦 Co-operative Banks / RRBs
📝 Urban cooperative banks continue to struggle on multiple fronts
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🏦 Foreign Banks / FIIs / I-Banks
📝 Singapore’s star banker Piyush Gupta creates a succession dilemma for DBS
📝 Rajeev Misra’s $7 billion fund scouting for India opportunities after debut investment in Shapoorji Pallonji
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🏠 Housing Finance
📝 Piramal Capital sells bad loans to Omkara ARC
📝 ‘Maitreyi’, Piramal Finance’s first all-women branch opens at Tripunithura near Kochi
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💳 ATMs / Credit Cards
📝 How will changes in TCS regime affect international credit card holders?
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🔍 Rating / Research
📝 India needs to integrate itself into the global semiconductor supply chain: SBI Research
📝 NRIs want customized product offerings, round-the-clock customer support by Indian banks: Survey
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🗎 NBFCs / FIs / MFI
📝 IIFL Finance raises $175 million through ECB route
📝 JM Financial hits 1st close of ₹600cr for its maiden credit fund
📝 L&T Finance sells real estate loans to Phoenix ARC for over Rs 1,000 cr
📝 Incred Financial plans to raise $150m to expand its loan book
📝 Muthoot Microfinance files documents for Rs 1,350 crore IPO
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UPIs / Wallet / FinTech
📝 Shriram Finance ties up with Paytm to offer digital loans
📝 Soon, you may be able to use the same QR codes for e-Rupee and UPI payments
📝 Cos operating in India must abide by local regulations: Paytm Founder
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🗠 Bourses
📝 BSE Sensex rises 82% in 5 years. 5 Mutual Funds tracking it turn Rs 10 lakh into Rs 18.8 lakh
📝 Today is a great day for India and NSE: Ashish Chauhan
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Crypto
📝 Home ministry to host two-day G20 meet on crime and security in age of NFTs, AI and Metaverse
📝 Singapore tells crypto platforms to keep client money in a trust
📝 Bitcoin holds above $30,600; Polkadot, Polygon rise over 3%
📝 CoinDCX partners with KoinX to allow crypto tax tracking on its platform
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🗠 Mutual Funds / AMCs
📝 How to rebalance your mutual fund portfolio? Radhika Gupta shares 8 takeaways
📝 Edelweiss AMC announces merger of Edelweiss ETF- Nifty Bank with Edelweiss Nifty Large Midcap 250 Index Fund
📝 Large cap mutual funds offer 7% in Jan-June; topper gives 11%
📝 MFs in favour of category-wise TER slabs
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🗎 Equities, Pvt. Equity / Hedge Funds
📝 Holiday home ownership platform Equity Address in talks to raise $2.5 million
📝 FPIs pump over Rs 1 lakh crore into equities in April-June, take markets to new peaks
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🗎 Govt. Securities / Bonds
📝 Edelweiss Financial Services to raise funds via non-convertible debentures
📝 Benchmark yield rises, pushing up borrowing costs
📝 Indian bond yields to edge higher, heavy state debt supply hurts
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