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📝  ‘About 80% of Indians choose to deposit withdrawn ₹2,000 notes, boost bank deposits’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
Read More >>

💳 ATMs / Credit Cards

📝  HDFC Bank introduces Millennia Credit Card
📝  RuPay transactions likely to rise at 20% CAGR in three years
Read More >>

🗎 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
Read More >>

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
Read More >>

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
Read More >>

🗠 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
Read More >>

🗎 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
Read More >>

🗎 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
Read More >>


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