BUSINESS
Around 15,000 transactions per day taking place in retail CBDC, says RBI DG
Additionally, Sankar said the central bank is now only focusing on the self-regulations for the Fintech sector
BUSINESS
MC Interview: SIDBI plans to lend to 20 alternative investment funds this fiscal, says Chairman Sivasubramanian Ramann
To increase direct lending, SIDBI is focusing on EVs, solar projects and products in the renewable segment, Ramann said
BUSINESS
Bank of Maharashtra, 5 other firms plan to raise Rs 5,241 crore via bond issue on September 14
The other five companies are Constructions Pvt Ltd, Neogrowth Credit Pvt Ltd, Mahindra and Mahindra Financial Services, Shriram Finance and India Infrastructure Finance
BUSINESS
MC Explains: What RBI’s revised norms for classification, valuation of bank investment portfolios are about
Banks now have to categorise investments as available for sale, held to maturity, and fair value through profit and loss.
BUSINESS
Bank of India to issue bonds worth up to Rs 2,000 cr today; allotment on September 15
Bidding for the bonds will take place on September 13 between 10 AM and 12 PM on the electronic bidding platform of the National Stock Exchange of India.
BUSINESS
RBI likely to keep holding repo rates despite inflation easing in August, say experts
India's headline retail inflation rate for August was at 6.83 percent as vegetable prices cooled somewhat compared to the previous month
BUSINESS
Corporate bond issuances fall to 10-month low in August on high yields driven by inflation
Data shows that issuances in August were the lowest since October 2022, when companies and banks raised Rs 46,000 crore through corporate bonds.
BUSINESS
Banking system liquidity rises over Rs 14,500 cr after I-CRR Phase-I reversal
The rise has been witnessed after the 25 percent funds released by the central bank on September 9.
BUSINESS
Phased withdrawal of I-CRR will offset heavy outflows from banking system: Experts
The Reserve Bank of India (RBI), in a release on September 8, said that 25 percent of the funds maintained in the I-CRR would be released on September 9 and 25 percent on September 23. The remaining 50 percent will be released October 7.
BUSINESS
T-Bill yields ease by up to 7 bps in three weeks as liquidity conditions improve
On the other hand, the yield on state development loans remained mostly unchanged compared to the week before.
BUSINESS
RBI plans to test some more use cases in wholesale pilot of CBDCs, says RBI Governor
Speaking at the Global Fintech Fest 2023, Das said, "Now we are planning to test some more use cases in wholesale pilot of CBDCs."
BUSINESS
Top official pitches for rule relaxations for payment banks
'Our argument has been that we are able to transform and impact far more lives if we are allowed to micro lend,' says the official
BUSINESS
Lenders welcome Modi's call for banking sector reforms
Bankers said that in the last few years, there have been significant reforms in the sector but there is still room for more
BUSINESS
IFSCA plans payment regulations in GIFT City soon, says Chairperson K Rajaraman
Rajaraman was speaking at Global Fintech Fest 2023.
BUSINESS
Fintech innovations will not change basic nature of financial system: RBI DG T. Rabi Sankar
T. Rabi Sankar was speaking at Global Fintech Fest 2023.
BUSINESS
Fintechs must learn compliance early, says Razorpay CEO Harshil Mathur
“If you miss it in the early stage then it become harder and harder for us because once the business start expanding, it better to get early on,” Mathur said.
BUSINESS
MC Analysis | How RBI managed the liquidity situation since last year
Of all the measures, the variable rate reverse repo auction was the most widely used by the central bank.
BUSINESS
RBI may reduce I-CRR limit to 5% from 10% of NDTL by Sept 8: Upasna Bhardwaj
The central bank will review the I-CRR on September 8 or earlier with a view to returning the impounded funds to the banking system ahead of the festival season, Chief Economist at Kotak Mahindra Bank tells Moneycontrol.
BUSINESS
LPG price cut may impact 30-40 bps on inflation in coming months, says Upasna Bhardwaj
The next two reading of the inflation is likely to remain above the upper tolerance band of 6 percent of the Reserve Bank of India (RBI), Bhardwaj said.
BUSINESS
Yields on 10-year corporate bonds, SDL ease as liquidity conditions improve
The cut-off yield on the 10-year SDL was set at 7.44 percent during an auction on August 29, from 7.49-7.50 percent in the last two auctions on August 22 and 14, respectively.
BUSINESS
High defaults prompt Mahindra Rural Housing Finance to rebalance book: CEO
The company plans to focus on affordable housing as out of the total 11.97 percent of gross stage-3 assets as on June 30, 2023, the majority of its delinquencies are from the rural housing segment, MD & CEO Shantanu Rege tells Moneycontrol in an interview.
BUSINESS
RBI's Retail Direct primary market subscription surges over 42% in 5 months; T-bills see biggest traction
Total primary market subscription in absolute terms rose to Rs 2,571.67 crore as on August 21, from Rs 1,809.86 crore on April 3 as investors utilised the arbitrage between T-bills and bank saving accounts.
BUSINESS
Banks step up borrowing through MSF as liquidity falls
As per RBI data, banks borrowed Rs 89,813 crore via MSF on August 21, Rs 87,095 crore on August 22, and Rs 90,895 crore on August 23.
BUSINESS
Banks scale up investments in SLR securities in Q1FY24 as deposit base jumps
According to Reserve Bank of India’s August Bulletin, investment of scheduled commercial banks stood at Rs 56.71 lakh crore, as on June 30, compared to Rs 54.15 lakh crore, as on March 24
