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SBI Funds Management gets RBI’s nod to acquire 9.99% stake in HDFC Bank

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RBI hikes repo rate by 35 bps to 6.25%, cuts FY23 GDP forecast to 6.8%RBI MPC: Here is what experts have to say...
Finance

Banks express concern over high overnight funding costs, ask for RBI’s help

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By Dharamraj Dhutia and Siddhi Nayak MUMBAI (Reuters) - Indian banks put forth their concerns over elevated overnight rates at a money markets association...
Finance

UPI-related scams account for 55% of total digital payments frauds in India

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57% of all fraud incidents in India are 'platform' frauds: PwC IndiaHigh-balance bank accounts without updated KYC under govt's radarUPI continues to dominate...
Finance

HDFC launches India’s first mutual fund focused on defence sector

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HDFC Asset Management Company Ltd on Tuesday announced the launch of the country's first mutual fund focussed on defence sector, a move that...
Finance

Irdai relaxes norms for surety bonds to expand market for such products

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Regulator Irdai on Tuesday said it has relaxed norms for 'surety bonds', a type of insurance policy protecting parties involved in a transaction...
Finance

IRDAI lowers the solvency requirement for surety bonds to 1.5 times

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The Insurance Regulatory and Development Authority of India (Irdai) has decided to lower the solvency requirement for surety bonds to 1.5 times, from...
Finance

Banks request RBI for 1 more year to implement new loan provisioning system

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Banks have requested the RBI for one more year's time to implement the system of Expected Credit Loss (ECL) for provisioning of loans. At...
Finance

70% of MSMEs believe more than 50% of customers will pay using UPI

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UPI continues to dominate digital payments thanks to wide use of QR codesICICI Bank to offer EMI facility for UPI transactions above Rs...
Finance

Banks tighten rules around lending money to airlines after Go Air crisis

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Repeated company failures dent the entire aviation industry's creditworthiness, the chief financial officer of an airline said Source link
Finance

RBI board expected to consider dividend payout to government on Friday

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Suzuki Motorcycle ties up with Standard Chartered to give funds to dealersIndia set to post BoP deficit for 2nd straight yr: Standard Chartered...
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