Top Indian Banking Industry News & Updates - 24 Jun 2023,Saturday

🗎 RBI / MoF / Govt. Policies

📝  RBI penalises J&K Bank, Bank of Maharashtra, Axis Bank
📝  India sees over 72% of withdrawn Rs 2,000 notes taken to banks
📝  Current level of real repo rate raises worries of damage to growth: Jayanth R Varma
📝  TReDS platforms enter discussions with insurers post RBI nod
📝  Reserve Bank of India purchased $7.7 billion in April, highest in 2 years
📝  Benefit of enhanced insurance cover for export losses to be extended to accounts with limits up to ₹50 crore: Goyal
📝  Path to inclusive growth must be paved by price stability: RBI officials
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🏦 PSB / Pvt Banks

📝  Moody’s affirms Yes Bank’s ratings, financial performance to remain stable over 12-18 months
📝  Federal Bank elevates wholesale banking head Harsh Dugar as Executive Director
📝  Bank of Baroda tightens cheque clearing process
📝  Apple explores fintech tie-ups with HDFC Bank
📝  Banks say systems are not yet ready for new TCS regime
📝  IndusInd Bank jumps over 3% as report suggests Hindujas may get RBI nod to hike stake
📝  Kotak Bank arms invest Rs 732 cr in Rattanindia Power
📝  Insurance regulator approves transfer of HDFC Life shares to HDFC Bank
📝  Yes Bank to raise ₹25 billion in debt: Report
📝  DCB Bank offers new Direct Tax payment facility with govt income tax portal
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🏦 Co-operative Banks / RRBs

📝  IT wing unearths wilful default by Tamil Nadu based cooperative bank causing loss to exchequer
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🏦 Foreign Banks / FIIs / I-Banks

📝  Bank of England raises interest rate to 5%
📝  India is the investment destination of the decade : HSBC
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🏠 Housing Finance

📝  PNB Housing Finance to consider raising Rs 5,000 crore through NCDs
📝  HDFC expected to sell loan portfolio of 2 Ghaziabad-based five-star hotels to Prudent ARC: Report
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💳 ATMs / Credit Cards

📝  After April’s fall, credit card spends hit a high of ₹1.4 lakh cr in May
📝  Apple to launch credit card in India, in talks with NPCI for Apple Pay
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🔍 Rating / Research

📝  Moody's affirms Yes Bank's ratings, financial performance to remain stable over 12-18 months
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🗎 NBFCs / FIs / MFI

📝  Shriram Finance's long-term prospects intact as merger synergies play out
📝   FIIs sell nearly ₹345 crore in Indian stocks; DIIs pull out ₹684 crore - 23 June trade
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UPIs / Wallet / FinTech

📝  UPI to account for 90% of retail transactions in 5 years: RBI bulletin
📝  Apple in talks with NPCI to launch Apple Pay in India
📝  Google to set up its global fintech operations centre in Gujarat: CEO Sundar Pichai
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Crypto

📝  Crypto start-up Pillow to shut operations due to regulatory uncertainty
📝  Casa launched a multi-signature self-custody crypto wallet
📝  Cryptopay loses its Electronic Money Institution license
📝  BitGo to cancel its procurement with Prime Trust fintech firm
Read More >>

🗠 Mutual Funds / AMCs

📝  India fund mangers buy T-bills, dump bonds as early rate cut chances vanish
📝  38 mutual fund schemes doubled investors’ wealth in five years
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🗎 Equities, Pvt. Equity / Hedge Funds

📝  Kotak Credit Funds invest Rs 732 crore in RattanIndia Power
📝  TPG exits Landmark Cars; sells 11.25% stake for Rs 293 cr
Read More >>

🗎 Govt. Securities / Bonds

📝  Tycoon Shapoor Mistry's firm set to sell India's biggest low-rated bond
📝  InCred Money launches corporate bonds with fixed returns of 12.5% p.a.
📝  ICICI Securities surges 7% to hit 7-month high on strong growth prospects
Read More >>


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