Top Indian Banking Industry News & Updates - 20 Jun 2023,Tuesday

🗎 RBI / MoF / Govt. Policies

📝  RBI injects ₹75,000 crore into the banking system as liquidity tightens due to tax outflows
📝  Deposit of ₹2,000 notes could result in a boost in bank deposits, repayment of loans, consumption: SBI Ecowrap
📝  HC grants interim stay on RBI circulars allowing banks to declare account as fraudulent without hearing
📝  Rs 2000 notes cleanup: How the demise of the pink notes is set to supercharge India's economy
📝  Finmin meets secretaries over budget capex
Read More >>

🏦 PSB / Pvt Banks

📝  RBL aims to expand NIMs; credit cards, MFIs to outpace overall loan book growth
📝  Max Life Insurance picks 2.99% stake in Capital Small Finance Bank for ₹49.5 crore
📝  Bank of Baroda hits Rs 1 lakh cr market cap, only second PSU lender to do so
📝  Karur Vysya Bank in expansion mode; sets up 800th branch
📝  HDFC mega merger: What does it mean for the mortgage lender's customers
📝  Banks may be roped in to spread awareness among voters
📝  J&K Bank launches mobile branches to offer services in remote areas of Ladakh
📝  This public sector bank’s special FD with up to 8% interest rate will end soon
📝  Bank of Baroda becomes most valued PSB stock after SBI; shares jump over 3%
📝  SBI to incentivize green home loan takers
Read More >>

🏠 Housing Finance

📝  HDFC divests 90% stake in HDFC Credila for ₹9,060 crore
📝  Affordable housing segment will make up 40% of our book in 3-5 years: PNB Housing Finance CEO
Read More >>

🏦 Development Banks

📝  Urge farmers to cultivate millets, pulses: FM Nirmala Sitharaman to Nabard
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🔍 Rating / Research

📝  Term deposits gain from Rs 2,000 note withdrawal
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🗎 NBFCs / FIs / MFI

📝  Sun Life Global Solutions to expand India operation; to add 700 staff by 2025
📝  TPG sells entire stake in Shriram Finance for $171 million
📝  Shriram Finance shares surge 7% amid reports of large block deal
📝  NBFCs reduce exposure to new-to-credit segment
📝  We should be able to maintain our NIMs at current levels: Umesh Revankar, Shriram Finance
📝  Adani Group looks to rope in more lenders to refinance $3.8 billion
📝  TPG will remain strong partner in insurance, new ventures: Shriram Fin head
Read More >>

UPIs / Wallet / FinTech

📝  India, Philippines sign MoU on FinTech cooperation
📝  Hitachi Payment to deploy 30K soundboxes for SBI Payments
Read More >>

🧔 Brokers / Distributors

📝  SEBI bars IIFL Securities from taking new clients for 2 years
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Crypto

📝  Imposition of TDS in digital assets a significant blow to Indian crypto exchanges: CoinDCX
📝  Bitcoin holds above $26,400; Shiba Inu, XRP rise up to 3%
📝  Cyberport gains over 150 Web3.0-based users
📝  Liquidators of crypto fund Three Arrows seek to fine co-founder $10,000 per day
Read More >>

🗠 Mutual Funds / AMCs

📝  Abrdn likely to exit HDFC AMC; may sell 10.2 pc stake through block deal
📝  MF SIP discontinuation jumps 7% m-o-m
📝  SIP closures rise 7.4 percent month-on-month in May
📝  ICICI Prudential Mutual Fund elevates Manish Banthia as CIO - Fixed Income
Read More >>

🗎 Equities, Pvt. Equity / Hedge Funds

📝  Baring EQT, ChrysCap buy HDFC’s Credila for Rs 10,350 cr
📝  PE/VCs investment in India falls 44 pc to USD 3.5 bn: Report
📝  HDFC to sell 90% stake in Credila to Baring EQT, ChrysCapital
📝   KKR appoints Gaurav Trehan as Asia private equity head
📝   Motilal Oswal AMC launches Motilal Oswal Nifty Microcap 250 Index Fund
Read More >>

🗎 Govt. Securities / Bonds

📝  Rate cuts hopes of bond market dashed but will rekindle soon
📝  Borrowing cost hardens with surge in state bond issuances
📝  Tata Power looks to raise Rs 1,500 cr via 10-year bonds
📝  NSE plans derivatives based on bond indexes
📝  Upstox to diversify product portfolio, plans to launch fixed deposits, bonds
📝  Everything to know about the Sovereign Gold Bond scheme that opens today
Read More >>


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