RBI rejects Bajaj Fin’s plan for Philippines operations over FATF concerns The Reserve Bank of India (RBI) has turned down an application from Bajaj Finserv to enter the Philippines market for lending activities. This is because the Philippines has been increasingly coming under the lens of the Financial Action Task Force, and has already been designated as ...

Treasury bill yields plunge as SVB collapse affects interest rate view After skyrocketing in the first 11 weeks of 2023, yields on the government’s Treasury Bills (T-bills) recorded a sharp decline on Wednesday as instability in global markets following the collapse of US-based Silicon Valley Bank (SVB) led to anticipation of central banks going slow on further ...

RBI doing it right on rate hikes, need more: IMF economist Luis Breuer IMF senior representative to India Luis Breuer on Wednesday said the RBI was doing the right thing on rate hikes, and added that there was need for more. “We believe that the tightening stance is appropriate for India in the medium-term, to ...

RBI, UAE central bank sign MoU on interoperability of their CBDCs The central banks of India and the United Arab Emirates have signed a memorandum of understanding (MoU) to explore interoperability between their respective central bank digital currencies, among other things. In a statement on Wednesday, Reserve Bank of India (RBI) said, “RBI and the ...

HDFC Bank, Flipkart Wholesale launch co-branded card for latter’s members HDFC Bank and Flipkart Wholesale, the omnichannel B2B platform of the Flipkart Group, launched a co-branded credit card exclusively for Flipkart Wholesale members on Wednesday . The credit card will offer users five per cent cashback on Flipkart Wholesale online spending. The launch of co-branded ...

Amid unabated fund outflow, rupee falls 25 paise to 82.62 against US dollar The rupee declined by 25 paise to 82.62 (provisional) against the US dollar on Wednesday amid a strong greenback against major currencies overseas and unabated foreign fund outflows. Traders said negative sentiment in the domestic equity market also hit the domestic currency. ...

Rupee rises 4 paise to 82.33 against US dollar on positive domestic equity The rupee appreciated by 4 paise to 82.33 against the US dollar in early trade on Wednesday, tracking positive sentiments in the domestic equity market and relatively weaker dollar against major currencies. At the interbank foreign exchange, the domestic unit opened stronger ...

Paytm UPI LITE crosses 2 mn users with over half million daily transactions Homegrown Paytm Payments Bank on Wednesday announced it now has over 2 million users on Paytm UPI LITE. The Bank recorded over half a million daily transactions for Paytm UPI LITE through the Paytm app, it said in a statement. “We ...

Sovereign Gold Bond: Check premature redemption details for SGB 2016-17 Series IV [ad_1] The Reserve Bank of India (RBI) has fixed the price for premature withdrawal of Sovereign Gold Bond 2016-17 Series IV at Rs. 5,557 and the due date is on March 17, 2023. SGB 2016-17 Series IVSovereign Gold Bond Scheme 2016-17 Series IV issue date was on March ...

No contagion seen on Indian bonds, forex from SVB collapse: DBS Bank Indian fixed-income and foreign-exchange markets are unlikely to see any major fallout after the collapse of a U.S. lender dented risk sentiment, a senior treasury executive at DBS Bank said on Tuesday. “We generally have an FX fallout if there is a change ...