BofA gets more than $15 bn in deposits after Silicon Valley Bank collapse Bank of America Corp. mopped up more than $15 billion in new deposits in a matter of days, emerging as one of the big winners after the collapse of three smaller banks dented confidence in the safety of regional lenders. The inflows ...

MCLR Hike: Banks may hike MCLR by 150 bps in FY24 amid tight liquidity: Report Commercial banks are likely to increase the marginal cost of funds based lending rate (MCLR) by 100-150 basis points (bp) in the next financial year (FY24) amid a rise in the cost of money and tight liquidity. The transmission of monetary policy ...

Most APAC fin institutions immune to US bank failure, rising rates: Moody’s Most Asia Pacific financial institutions are not exposed to the failed US banks and are not as susceptible to large losses from debt security holdings as Silicon Valley Bank was, Moody’s said on Tuesday. On March 12, US regulators closed Signature Bank, just ...

PNB signs deal with warehousing body for financing against e-NWR Punjab National Bank (PNB) and Warehousing Development & Regulatory Authority (WDRA) signed on Monday an agreement to promote financing against e-NWR (Electronic Negotiable Warehousing Receipt). The partnership will give farmers information about e-NWR, a negotiable instrument, and undertake outreach activities to improve agricultural pledge finance ...

Bank borrowings jump 64% in FY23, cross Rs 5 trillion mark for first time A structural change in the liquidity landscape brought about by much lower surplus cash and booming credit growth has resulted in a surge in banks’ reliance on short-term funding avenues in the current financial year. Reserve Bank of India (RBI) data ...

Rupee slides as Silicon Valley Bank collapse sparks global risk aversion The rupee weakened sharply against the US dollar on Tuesday as a global wave of risk aversion sparked by the collapse of California-based Silicon Valley Bank (SVB) hit emerging-market (EM) currencies and dragged stock markets lower. The domestic currency closed at 82.49 per dollar, ...

Rupee falls 26 paise to 82.49 against US dollar The rupee declined by 26 paise to 82.49 (provisional) against the US dollar on Tuesday amid stronger dollar, negative sentiment in the domestic equity market and unabated foreign fund outflows. At the interbank foreign exchange, the domestic unit opened lower at 82.27 against the dollar and ...

RBI norms: Loan disbursals by digital lenders double in Q3 amid new RBI norms: Report Loan disbursals by digital lenders have doubled in volume and value terms in Q3FY23, said a report on Tuesday. Digital lenders disbursed around 18 million loans worth Rs 18,537 crore during this period, up 147 per cent in volume terms ...

Two US bank failures not to impact banks in India, APAC: Moody’s The successive failure of two private banks in the US — Signature Bank and Silicon Valley Bank — though would result in tightening of liquidity in the global debt markets, the impact will be limited for most of the rated finance institutions in India and ...

DA arrears: 7th Pay Commission: Govt clarifies on 18-month frozen DA arrears for central govt employees [ad_1] The government will not be paying central government employees the 18 months’ worth of Dearness Allowance (DA) arrears that were stopped during the Covid-19 pandemic. The DA arrears was stopped during the covid-19 pandemic to Central Government Employees and Pensioners for 18 months. ...