Top Indian Banking Industry News & Updates - 07 July 2023,Friday
🗎 RBI / MoF / Govt. Policies
📝 FM asks PSBs to follow transparent NPA recognition norms, pursue robust risk management
📝 RBI governor stresses on fiscal consolidation
📝 RBI appoints P Vasudevan as new executive director
📝 15 financial transactions that cannot be done with an inoperative PAN
📝 Ensure loans to farmers, micro-enterprises: FM Nirmala Sitharaman to PSBs
📝 IBA sets up 5-member group to implement RBI committee’s recommendations on ARCs
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🏦 PSB / Pvt Banks
📝 State Bank of India rejigs senior leadership to boost dominance
📝 Karnataka Bank opens digital hub in Bengaluru
📝 HDFC merger poses increased competition in deposits segment for PSBs: Govt
📝 Public sector banks confident of withstanding macro shocks, says govt
📝 HDFC Ltd-HDFC Bank merger: Will HDFC Ltd fixed deposit investors get the benefits of HDFC Bank FDs post-merger?
📝 G20 panel moots development banks' greater engagement with private sector
📝 PNB launches its virtual branch in the Metaverse
📝 Ujjivan Small Finance Bank gross loan book rises 31%
📝 HDFC Bank- HDFC deal, a merger that will leave India’s banks gasping
📝 IDFC-IDFC First Bank merger: Did the bank get the short end of the stick?
📝 This can be a template for why big is necessary: HDFC Bank chairman
📝 HDFC merger will shrink mortgage-backed securities
📝 DCB Bank share price jumps 8% as Tata AMC gets RBI nod to raise stake in lender
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🏦 Co-operative Banks / RRBs
📝 FM to soon review performance of Regional Rural Banks
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🏦 Foreign Banks / FIIs / I-Banks
📝 Finance Ministry pushes for reforms to spur FDI inflows
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💳 ATMs / Credit Cards
📝 Credit Card portability: Change from Visa to MasterCard to RuPay or any network soon – What RBI said
📝 RBI circular on network choice seen helping RuPay grow credit card base
📝 Banks and non-banks to seek clarification from RBI on co-branded cards
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🔍 Rating / Research
📝 Securitisation volume soars 60% to Rs 53,000 cr in Q1, may slow down going forward on HDFC exit
📝 Securitisation volumes on track to rise 60% in Q1: ICRA
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🗎 NBFCs / FIs / MFI
📝 Microfinance lenders have written off Rs 26,000 crore of sticky loans after Covid: Report
📝 Satin Creditcare aims at Rs 1,000-crore MSME book
📝 Power Finance Corp provides Rs 9,187 cr finance to HPCL Rajasthan Refinery
📝 MyShubhLife partners with PayWorld to offer credit to retail merchants
📝 Belstar Microfinance to file for IPO soon
📝 SMFG India Credit announces appointment of S Subramanian as new COO
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UPIs / Wallet / FinTech
📝 PhonePe sets foot in Point-of-sale device market to raise heat on rival Paytm
📝 PhonePe launches POS solution for merchant partners
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🧔 Brokers / Distributors
📝 Brokers take issue with Sebi's basis for 'fit & proper person'
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🗠 Bourses
📝 BSE approves share buyback of up to Rs 374 crore at 20% premium
📝 BSE board approves buyback of up to Rs 374.80 crore
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Crypto
📝 Binance exchange to update its wallet address
📝 Centralised exchanges saw a rise in cryptocurrency trading in June
📝 Bitcoin falls below $31,700; Shiba Inu, XRP decline up to 2%
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🗠 Mutual Funds / AMCs
📝 Multi cap funds offer 9.57% in first half of 2023; Nippon India Multi Cap Fund offer 14.31%
📝 Nippon Life India Mutual Fund restricts flows into smallcap fund
📝 Canara Robeco MF targets ₹3-lakh crore AUM in 3-5 yrs
📝 4 sectors Shibani Sircar Kurian is bullish on for near term
📝 Bandhan Mutual Fund launches Bandhan Financial Services fund, offer to open on 10 July; key highlights here
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🗎 Equities, Pvt. Equity / Hedge Funds
📝 Forex outflows via PE exits, MNC profit repatriation surge
📝 Rally may sustain a bit but upside limited: Rahul Arora, CEO, Nirmal Bang Equities
📝 Shares worth over $10 billion offloaded via block deals so far in 2023
📝 FPIs become net buyers in June quarter as inflows surge to 10-month high; Nifty crosses 19,500-mark
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🗎 Govt. Securities / Bonds
📝 Sebi proposes FPIs trade some corporate bonds on RFQ
📝 Unlocking full potential of green bonds in India
📝 PFC plans to raise up to Rs 6,100 cr via bond sales
📝 FPIs net buyers of corporate debt in June, after 7 months
📝 Azure’s offshore bondholders move to protect ‘interests’
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