The investment is the second tranche of investment under the strategic partnership between GIC and India’s largest retail-led mixed-use asset developer and operator to set up a joint venture to develop, own and operate retail-led, mixed-use developments across India.
The banking regulator once again cautioned against the proliferation of virtual currencies, calling the instruments a 'danger'. "Cryptocurrencies are a clear danger," RBI governor Shaktikanta Das noted in the foreword to the report. "Anything that derives value based on make believe, without any underlying, is just speculation under a sophisticated name." The banking regulator once again cautioned against the proliferation of virtual currencies, calling the instruments a 'danger'. "Cryptocurrencies are a clear danger," RBI governor Shaktikanta Das noted in the foreword to the report. "Anything that derives value based on make believe, without any underlying, is just speculation under a sophisticated name."
This will ensure that these products do not face the tax applicable on VDAs such as cryptocurrencies and non-fungible tokens (NFTs), introduced this budget.
The RBI’s clarification that prepaid payment instruments (PPI) - a licensing category that includes e-wallet operators in India - can only be loaded via cash, bank accounts and credit cards issued by regulated entities does not prevent digital finance platforms from offering loans backed by banks and other non-bank financial companies.
It can be noted that the RBI has hiked interest rates by a cumulative 0.90 per cent in two successive actions since May with an eye to tame the rising inflation, as it tries to rollback the accommodative measures taken during the pandemic.It can be noted that the RBI has hiked interest rates by a cumulative 0.90 per cent in two successive actions since May with an eye to tame the rising inflation, as it tries to rollback the accommodative measures taken during the pandemic.
Banks are staring at significant mark-to-market losses in April-June quarter as some of them approached the Reserve Bank of India seeking a one-off relaxation following rises in bond yields.
This partnership will help Axis Bank build operational efficiencies in the cash management process. It is also expected to speed up the payment cycle and help in releasing the bandwidth of field agents who operate across the country.
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As geopolitical tensions prevail, Investors should with switch from debt funds to equity markets with a balanced investment strategy like Systematic Transfer Plan (STP)
Funding to the nearly three-decades-old, Ahmedabad-based company will help accelerate product innovation, channel partnerships, brand building and also acquisitions, the statement added. At present, it portfolio consists of premium tiles, faucets and sanitaryware, which are sold through over 200 exclusive brand outlets in India and globally.Funding to the nearly three-decades-old, Ahmedabad-based company will help accelerate product innovation, channel partnerships, brand building and also acquisitions, the statement added. At present, it portfolio consists of premium tiles, faucets and sanitaryware, which are sold through over 200 exclusive brand outlets in India and globally.
The Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970, requires the central government to hold at least 51% of public sector banks. The earlier thinking was that Centre should retain at least 26% stake during privatisation and that this could be brought down gradually.The Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970, requires the central government to hold at least 51% of public sector banks. The earlier thinking was that Centre should retain at least 26% stake during privatisation and that this could be brought down gradually.
Lending to the household sector which includes individuals, proprietary concerns, Hindu undivided families (HUF) and partnership firms, among others accounted for 53.8 per cent in March 2022. Significantly, loans to female borrowers, who had 22.5 per cent share in bank loans to individuals, increased by 13.9 per cent during 2021-22, the RBI release said.
“We are no more vulnerable as we were at some point of time when our capital adequacy was very low, provision coverage ratio was low, bad loan ratios were high, skill levels were low. All those are behind us. We have gained stability but yes, there is scope for further improvement,” Ramakrishnan said.
The widening of these margins can be attributed to recent interest rate hikes undertaken by the Reserve Bank of India (RBI) in order to tame inflation. In addition to that, higher policy rates and favorable funding structures might also contribute to the larger margins, the report said. This, in turn, will help to generate higher returns on assets or ROA.
Many private sector banks started cutting their exposure to small businesses when the pandemic broke out but with government guarantees coming in and stress turning out to be less than expected, they sharply increased their market share in FY22.
Reliance Capital had pledged the shares in its unit RGI as security against funds raised by group companies through the issue of non-convertible debentures in FY19. IDBI Trusteeship, custodian of the RGI shares, says it doesn’t have permission from the debenture holders to release the pledged shares — representing a 37% stake in the insurance unit — according to the people cited above.Reliance Capital had pledged the shares in its unit RGI as security against funds raised by group companies through the issue of non-convertible debentures in FY19. IDBI Trusteeship, custodian of the RGI shares, says it doesn’t have permission from the debenture holders to release the pledged shares — representing a 37% stake in the insurance unit — according to the people cited above.
Slices of loans waived to lessen the strain on defaulting borrowers are being interpreted as 'benefits' that lenders are passing on to borrowers under the new provisions the government has come out on tax deducted at source (TDS).Slices of loans waived to lessen the strain on defaulting borrowers are being interpreted as 'benefits' that lenders are passing on to borrowers under the new provisions the government has come out on tax deducted at source (TDS).
As per the Insolvency and Bankruptcy Code (IBC) rules, the administrator had to close the resolution of RCL within 180 days -- by June 3. In addition, the CoC also decided to extend the last date for submission of the resolution plan by the prospective bidders from June 20 to July 11.As per the Insolvency and Bankruptcy Code (IBC) rules, the administrator had to close the resolution of RCL within 180 days -- by June 3. In addition, the CoC also decided to extend the last date for submission of the resolution plan by the prospective bidders from June 20 to July 11.
According to the sources, banks were asked to sanction loans for productive sectors to accelerate the revival of the economy facing headwinds, including the Russia-Ukraine war.
DHFL and HDIL are realty and housing finance businesses run by two branches of the family. Rakesh Wadhawan of HDIL is the younger brother of the late Rajesh Wadhawan, whose children Kapil and Dheeraj now run DHFL.
MD & CEO of VFS Capital Kuldip Maity said at an event in Kolkata on Friday night that the NBFC-MFI has 247 branches at present, and added that plans are there to add 35 more this fiscal and also to enter the state of Rajashthan.MD & CEO of VFS Capital Kuldip Maity said at an event in Kolkata on Friday night that the NBFC-MFI has 247 branches at present, and added that plans are there to add 35 more this fiscal and also to enter the state of Rajashthan.
The bank would look to raise Rs 5500 crore through Basel III compliant additional tier 1 bonds, while the target to raise through tier 2 bonds is fixed at Rs 3500 crore. The timing and extent of fundraising would however entirely depend on the market conditions, the bank said in a regulatory filing to stock exchanges.The bank would look to raise Rs 5500 crore through Basel III compliant additional tier 1 bonds, while the target to raise through tier 2 bonds is fixed at Rs 3500 crore. The timing and extent of fundraising would however entirely depend on the market conditions, the bank said in a regulatory filing to stock exchanges.
Instead, RBI has asked for tokenisation as a safer and more convenient alternative to card storage. Through tokenisation, one’s sensitive card information can be replaced with a non-sensitive uniquely generated code called ‘Token’.Instead, RBI has asked for tokenisation as a safer and more convenient alternative to card storage. Through tokenisation, one’s sensitive card information can be replaced with a non-sensitive uniquely generated code called ‘Token’.
State Bank of India, the country's largest lender, last week increased the retail rate by 20 basis points, or 0.2 percentage point, for fixed deposits of less than two years.
Belgium-based SettleMint, US-based Corda Technologies and IBM would provide technology support for the project driven by the Reserve Bank of India’s (RBI) Innovation Hub in Bangalore, three people familiar with the matter told ET. Axis Bank, Bank of Baroda and Union Bank of India are also involved.Belgium-based SettleMint, US-based Corda Technologies and IBM would provide technology support for the project driven by the Reserve Bank of India’s (RBI) Innovation Hub in Bangalore, three people familiar with the matter told ET. Axis Bank, Bank of Baroda and Union Bank of India are also involved.
"We first identified the areas for transformation like Advances, HR, Technology and Customer experience and completed the task successfully. Our entire KBL staff today is repositioned as a sales and marketing team."
