RBI issues norms for outsourcing payment, settlement activity by PSOs
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Bars PSOs from outsourcing core management functions, including risk management and internal audit; compliance and decision-making functions such as determining compliance with KYC norms
IndusInd Bank gets empanelled as Agency Bank to RBI
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IndusInd Bank on Tuesday said it has been empanelled by Reserve Bank of India (RBI) to act as an 'Agency Bank' to facilitate transactions related to government businesses.
RBI imposes Rs 50.35 lakh penalty on Janalaxmi Co-operative Bank
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Reserve Bank of India on Monday said it has imposed a penalty of Rs 50.35 lakh on Janalaxmi Co-operative Bank, Nashik for non-compliance with certain regulatory requirements.
The penalty on Janalaxmi Co-operative Bank has been imposed for non-compliance wit
As businesses set up online modes, cash flows become less prone to turmoil
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Non-banking financial companies have been also reworking their collection process since the onset of the pandemic by increasingly adopting electronic modes
As biz set up online modes, cash flows become less prone to disruption
newsdepo.com
Non-banking financial companies have been also reworking their collection process since the onset of the pandemic by increasingly adopting electronic modes
PSU banks mobilise record fund of Rs 58,700 crore from markets in FY'21
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Notwithstanding economic disruptions caused by the pandemic, PSBs have managed to raise a record Rs 58,700 crore from markets in FY2020-21 through a mix of debt and equity to enhance capital base.
SBI announces 100% waiver on home loan processing fee till Aug 31
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The country's largest lender State Bank of India (SBI) on Saturday announced waiving processing fee on home loans till August-end.
Currently, the processing fee on home loans is 0.40 per cent.
SBI said it is the bank's limited period 'Monsoon Dhamaka Offer'
RBI lets 10-year bond yield rise ahead of monetary policy next week
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This is a different strategy than what played out until last month, where the central bank seemed more focused on keeping the 10-year bond yields at 6%
DBS, Temasek set up $500 mn financing platform for growth stage firms
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DBS said in a statement that EvolutionX will invest in opportunities arising from an increasingly digital economy - across sectors like financial services, consumer, healthcare, etc
India's inflation could go past RBI target rest of 2021, say report
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Forecasts for gross domestic product were raised to a 9.2% expansion in the fiscal year ending March 2022, from the previous 9%, while the gross value added outlook edged down slightly to 9%.
HDFC enhances existing limit to borrow via medium-term bonds up to $2.8 bn
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The country's largest mortgage lender HDFC Ltd on Wednesday said it has enhanced its existing limit to raise capital through medium-term notes to up to USD 2.8 billion (about Rs 20,875.65 crore).
India needs more to convince banks, NBFCs to lend to MSMEs: AIIB economist
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The Indian government needs to take more steps to encourage banks and NBFCs to lend more to MSMEs, according to Asian Infrastructure Investment Bank (AIIB) Senior Economist Abhijit Sengupta.
DFI alone not panacea for infra finance issues: Sebi member Barua
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He also rued that banks are accessing capital markets only for their core or Tier-II capital requirements, and need to access the markets more for raising resources for project finance.
SBI, Axis Bank, ICICI Bank, others buy stakes in fintech firm IBBIC
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Six banks State Bank of India, Axis Bank, Indian Bank, Yes Bank, IDBI Bank, and ICICI Bank on Tuesday said they have bought equity stakes in financial technology platform IBBIC.
PSBs in talks for creating common digital infrastructure platform
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Will set up a corporation to enable enhanced access to customers and businesses for credit offerings. This is in line with govt steps to boost digital banking and promote digital lending
Rupee slips 4 paise to 74.44 against US dollar in early trade
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The Indian rupee depreciated 4 paise to 74.44 against the US dollar in opening trade on Monday, as investors are awaiting cues from the US Fed's policy decision, due this week.
At the interbank foreign exchange, the rupee opened at 74.43 against the dollar,
