Top Indian Banking Industry News & Updates - 28 July 2023,Friday
🗎 RBI / MoF / Govt. Policies
📝 Banknotes with a Star (*) symbol identical to any other legal banknotes: RBI
📝 Currency note with * symbol in number panel valid note: RBI
📝 ATM frauds, others rose around 65% in 2022: FinMin
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🏦 PSB / Pvt Banks
📝 Private banks in India are battling rising attrition even as business grows
📝 Indian Bank’s Q1FY24 net profit rises 41%, gross NPAs reduce while margins jump
📝 Federal Bank’s arm Fedbank Financial re-files draft papers for IPO
📝 Ujjivan SFB Q1 Results: PAT surges 60% to Rs 324 crore; NII up 32%
📝 Banks' margins dip as deposit costs rise
📝 Union Bank calls bids for its Visa Steel loan
📝 Equitas, Fino gear up for upgrade in banking profile
📝 M&M buying a tiny part of RBL Bank: Is it a big deal?
📝 Private banks see strong Q1; eye corporate, unsecured lending
📝 ‘Sanctioned Rs 60,000 crore of corporate loans in last 4 months’: MD & CEO K Satyanarayana Raju, Canara Bank
📝 Mahindra & Mahindra tanks 6.40 per cent on RBL Bank stake purchase for Rs 417 crore
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🏦 Foreign Banks / FIIs / I-Banks
📝 Committed to India as we get to build a diversified portfolio, says CPP CEO Graham
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🏠 Housing Finance
📝 PNB Housing sees potential in affordable housing as demand remains robust
📝 Securing Your Future: Understanding the Benefits of Home Loans
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🏦 Development Banks
📝 SIDBI anchors Vivriti’s ₹700 crore SME-focussed fund
📝 ADB, India sign USD 295 million loan pact to upgrade state highways in Bihar
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💳 ATMs / Credit Cards
📝 Credit Card Rule Change: Axis Bank reduces benefits on Axis Magnus, Axis Reserve credit card
📝 Explained | RBI’s proposal for interoperability of credit and debit cards
📝 Love travelling? The best credit cards for discounts, cashbacks and more
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🗎 NBFCs / FIs / MFI
📝 Shriram Finance Q1 PAT up 25% on NII growth, lower provisions
📝 IIFL Finance Q1FY24 profit up 43% on robust loan growth, plans long-term reward, retention schemes for employees
📝 Bajaj Finserv Q1 profit up 48.4% on highest ever quarterly customer franchise growth
📝 Motilal Oswal Q1 Results: Consol PAT soars 17x YoY to Rs 527 crore on all-round performance
📝 When Aladdin meets Ambani: What JV with BlackRock means for Jio Financial Services
📝 Q1FY24 Highlights: Pranav Dholakia, Mauli Agarwal among new appointees at IIFL Finance
📝 Future Generali India Life Insurance enters into strategic alliance with JM Financial Services
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UPIs / Wallet / FinTech
📝 Digital payments rise 13% YoY at March-end 2023: RBI data
📝 Razorpay launches MoneySaver export account, offers savings on overseas bank transfers
📝 Insurtech players must focus on credit instead of distribution: PBFintech chairman Yashish Dahiya
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🗠 Bourses
📝 NSE's income from operations up 13% in June quarter
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Crypto
📝 Ethereum software infrastructure provider flashbots raises $60 million
📝 Crypto-friendly Wyoming’s stablecoin chief will earn more than governor Mark Gordon
📝 Crypto exchange CoinSwitch lists holdings after its second POR report
📝 Bitcoin rises above $29,400 post FOMC outcome; Solana, Cardano jump up to 7%
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🗠 Mutual Funds / AMCs
📝 Will Mukesh Ambani help Larry Fink unleash a Mutual Funds genie?
📝 Loans against MFs catch fancy with easy process & low rates
📝 Nippon Life India AMC profit doubles on higher assets under management
📝 Current risk-reward unfavourable; interest rates could be higher for longer: Asit Bhandarkar of JM Financial AMC
📝 Reliance’s Jio Fin, BlackRock tie up to launch India MF biz
📝 Mirae Asset Mutual Fund sees market outlook 'stable', launches multi-cap fund
📝 Markets near record highs! Adopt a staggered approach while making new equity purchases: Sahil Kapoor
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🗎 Equities, Pvt. Equity / Hedge Funds
📝 TTK Healthcare says delisting offer failed; shares tendered in buyback to be credited back to public shareholders
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🗎 Govt. Securities / Bonds
📝 Indian bond yields seen easing on bets Fed hiking cycle ending
📝 Chola Investment to raise Rs 1,500 cr via bond issue
📝 Sebi puts in place framework for corporate debt market development fund
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✈ International
📝 Barclays warns pressure building on UK retail bank, lifts buyback
📝 European Central Bank raises rates by 25 bps to highest level since May 2001
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