Top Indian Banking Industry News & Updates - 08 Jun 2023,Thursday
🗎 RBI / MoF / Govt. Policies
📝 RBI expands scope of TReDS, includes insurers as participants
📝 RBI MPC likely to keep repo rate unchanged: Book FDs at high interest rates before they start to dip
📝 RBI may pause again. But what markets will be watching out for?
📝 RBI's gold reserve up over 40% in five years
📝 RBI updates 'Alert List' of entities not authorised to deal in forex trading
📝 RBI's Monetary Policy Meeting: Do expect the wait-and-watch mode to continue
📝 Authorised Dealer Category-I banks operating IBUs can offer non-deliverable derivative contracts involving Rupee: RBI
📝 ‘About 80% of Indians choose to deposit withdrawn ₹2,000 notes, boost bank deposits’
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🏦 PSB / Pvt Banks
📝 HDFC Bank hikes these loan interest rates by up to 15 bps: EMIs to go up
📝 Axis Bank crosses Rs 3 lakh crore market cap, shares hit 52-week high
📝 Banks reluctant to park funds with RBI despite high liquidity
📝 Yes Bank aims to expand margins by 100 bps in next 3 years - MD
📝 ICICI Bank's board gave sanction to prosecute Chanda Kochhar in loan fraud case: CBI tells court
📝 Latest PSU bank fixed deposit interest rates
📝 KVG Bank bags award for Atal Pension Yojana enrolment
📝 Asset quality concerns. The strong growth in MSME book can pose a problem for PSU banks
📝 'The target is to disburse Rs. 90K-Cr digital loans in current fiscal', Akhil Handa, Chief Digital Officer, BoB
📝 Federal Bank introduces Platinum Wealth Builder Plan with Ageas Federal Life Insurance. Details here
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🏦 Foreign Banks / FIIs / I-Banks
📝 HSBC India executes first NDF transaction with Reliance Industries
📝 Fed on hold in June, but one-third of economists expect another hike soon
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🏠 Housing Finance
📝 10 banks offering lowest home loan interest rates
📝 Struggling with home loan EMIs? Explore your repayment options here
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🏦 Development Banks
📝 GAME and SIDBI launch “NBFC Growth Accelerator Program” to ease funding woes of MSMEs
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💳 ATMs / Credit Cards
📝 HDFC Bank introduces Millennia Credit Card
📝 RuPay transactions likely to rise at 20% CAGR in three years
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🗎 NBFCs / FIs / MFI
📝 Rural India throws NBFCs a lifeline in season of lost momentum
📝 Lendingkart group appoints Kamna Baweja as Chief Business Officer
📝 Poonawalla Fincorp prioritises profitability as NPAs decline
📝 NBFCs Q4 loan sales inch up 2%; FY23 records 24% rise at Rs 16.93 lakh crore
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UPIs / Wallet / FinTech
📝 Google Pay allows users to validate UPI using Aadhaar authentication
📝 PhonePe introduces account aggregator services
📝 Greenlight Financial Technology sets aside Rs 100 crore for India plans
📝 UPI processes 40% of global real-time payments: NIPL CEO
📝 PhonePe SmartSpeakers Offer Voice Payment Notifications in Telugu
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Crypto
📝 Bitcoin above $26,900; Dogecoin, XRP rise over 4%
📝 Blockchain is a key technology – a computer scientist explains why the post-crypto-crash future is bright
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🗠 Mutual Funds / AMCs
📝 Bajaj Finserv enters as the 43rd player in the mutual funds space. The task is now to stand apart.
📝 Top 5 MFs with exposure to IT stocks that gave over 15% returns in 5 years
📝 Are Systematic Withdrawal Plans tax efficient?
📝 Cut in expense ratio of MFs will lead to lower tax collection
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🗎 Equities, Pvt. Equity / Hedge Funds
📝 Bank of Maharashtra mops up ₹1,000 cr via QIP of equity shares
📝 Sebi wants to track money flowing into PE, VC funds
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🗎 Govt. Securities / Bonds
📝 Bank bond issuances may fall as liquidity improves: ICRA
📝 HDFC plans 10-year bond issue to raise Rs 10,000 cr
📝 Adani Group plans to revisit global bond market by Sept
📝 RBI may resort to overnight VRRR to manage liquidity: Analysts
📝 Six months since launch, surety bonds see no takers so far
📝 Demat account openings rise in May, total count at new high of 118.2 mn
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