BUSINESS
Rising global interest rates take sheen off foreign currency deposits
Measures announced by RBI to boost inflows have failed to work, data shows
BUSINESS
Festive fervour | HDFC, SBI, Bank of Maharashtra cut home loan rates
SBI is offering a concession of up to 0.25 percent on home loans, with rates starting at 8.4 percent. It has also waived off the processing fee till January 2023. While Bank of Maharashtra has cut its home loan interest rates by 30-70 basis points to 8 percent minimum, HDFC is offering just one rate of 8.4 percent
BUSINESS
Policy rate likely to peak by January-March quarter as MPC shifts focus to growth, say economists
Once inflation begins to moderate by FY24, economists expect the MPC to prioritise growth and assess the effects of policy transmission.
BUSINESS
RBI likely to shift focus towards growth slowdown in 2023, says HSBC Securities’ economist
During the October-March period, inflation is likely to remain above 7 percent, Pranjul Bhandari said. By March, it could fall closer to 6.5 percent, and then towards 5.75 percent in April-June 2023, she added
BUSINESS
Federal Bank says restructured book to perform better than expected
Credit growth, for FY23, should be in the “high teens” and deposit growth in the “pre-teens,” or a 10-to-12 percent range, MD and CEO Shyam Srinivasan said
BUSINESS
September CPI at 7.41% | MPC likely to hike repo rate by at least 35 bps in December
Inflation has been outside the mandated 2-6 percent tolerance range for three consecutive quarters, which is the definition of RBI’s failure under the flexible inflation targeting framework
BUSINESS
Will ARCs join the IBC bandwagon following Reserve Bank's latest rule change?
RBI’s move could increase the number of participants in the resolution process under the bankruptcy code, consequently offering banks better value for stressed assets, say experts
BUSINESS
Brickwork Ratings, employees may be in for a legal battle with SEBI, say experts
A legal battle may last years. Meanwhile, employees are likely to face a temporary setback and job losses
BUSINESS
Fintech Files Part 4 | Why tie-ups with fintechs are the best way for banks to make tech strides
Collaboration between banks and fintechs is the new normal in the banking space. Indeed, rather than competing with each other, it makes eminent sense for the two sides to combine their respective strengths and play the market together, say industry players
BUSINESS
HDFC Bank aiming to onboard 2 crore merchants in the next three years: top official
The era of partnerships between banks and fintechs is here, and HDFC Bank is open to more such tieups, says Parag Rao
BUSINESS
Banks’ provisional July-September numbers indicate robust growth in loans, deposits
Top banks, including State Bank of India, HDFC Bank, IndusInd Bank and Yes Bank, have reported a double-digit increase in loan growth for the second quarter on a year-on-year basis. Deposit growth has also been strong
BUSINESS
Bank lending rates set to rise further on expected RBI tightening, say experts
A clutch of lenders, including SBI, BoI, and HDFC, have hiked their lending rates in the wake of the repo rate hike by the RBI on September 30. Home loan borrowers should pre-pay to ensure that the loan is repaid in the anticipated time frame
BUSINESS
Fintech Files | Part-2: In the world of digital payments, UPI is the king
Indians are moving away from cash and traditional banking payment instruments and have wholeheartedly embraced UPI to make payments because of its ease and sheer convenience. Fintechs are driving this nationwide shift
BUSINESS
Moneycontrol Poll | Yet another 50 bps rate hike likely this week on inflation overhang
This week’s expected repo rate hike will be the fourth in a row since May. At 5.90 percent, the repo rate would be the highest since April 2019
BUSINESS
RBI may hold more repo auctions to ease liquidity, say bankers ahead of policy meet
They expect liquidity to remain tight even in October amidst higher currency leakage and the central bank to conduct repo operations simultaneously
BUSINESS
Fintech Files Part-1: What they are and what they do
Relying on smartphones for almost everything has become the new normal in today’s fast-paced world, particularly when it comes to financial services. But it is actually the financial technology in the background that enables these services, making transactions a simple act of a touch or a click. Here’s a primer on the basics
BUSINESS
Explained | Five rights of borrowers on loan default
Despite defaulting on a loan, borrowers have various rights, including the right to privacy, the right to be heard and the right to adequate notice before the sale of their underlying mortgaged assets.
BUSINESS
Rupee may fall to 82 to a dollar this year but RBI unlikely to defend aggressively, say currency experts
The rupee sank to a new low of 81.26 against the dollar on September 23 in intraday trade, down from 80.87 in the previous session
BUSINESS
India's primary dollar bond market dries up as Fed rate hikes send the greenback soaring
There has not been a single issue this fiscal by Indian corporates and banks against $13.3 billion raised by them in FY22. Issuances may remain muted near term and many issuers may refinance earlier dollar borrowings with onshore debt or buy them back in the secondary market, experts said
BUSINESS
McDowell Holdings ownership battle exposes loopholes in IBC process, say experts
The McDowell Holdings-Sun Star Hotels case has put the spotlight back on the efficacy of the bankruptcy law as a tool to resolve the problem of bad debts
BUSINESS
RBI Guv Shaktikanta Das to fintechs: ‘We are here to support innovation’
While innovations are “very much welcome,” they should be responsible and benefit consumers, the governor said.
BUSINESS
Partnership between banks and fintechs is the way forward, says HDFC Bank’s Parag Rao
Banks of tomorrow will necessarily have to be like fintechs or have some attributes that fintechs bring to the table, Parag Rao said at an event in Mumbai.
BUSINESS
Fintechs confident of meeting RBI deadline on digital loans but many face hurdles
An extension of the November 30 deadline by the regulator could be on the cards only if a significant chunk of digital lenders faces genuine challenges in re-orienting their systems and processes, said industry players.
BUSINESS
Next 25 years in your hands, be the growth catalyst, Sitharaman tells bankers
"The banking industry needs to serve the Amrit Kaal, we have to see how best we can lift ourselves to meet the aspirations of a growing India," the finance minister has said
