Banks ask RBI to frame policy for silver loans similar to gold metal loans MPC lowers projection for inflation, raises growth outlook a bit in FY24 RBI Monetary Policy: Repo rate up by 25 bps, FY23 inflation pegged at 6.5% Jewellers see 40% jump in sales on Akshaya Tritiya despite high gold prices RBI policy: How a repo rate hike/cut ...

Top large caps MFs bought in May HDFC, Hindalco Industries, Zomato, HDFC Life Insurance Company, FSN E-Commerce Ventures (Nykaa), Adani Total Gas, Indus Towers, JSW Steel, Tata Elxsi and UPL are among the top-ten large cap stocks bought by mutual funds in May 2023, while Life Insurance Corporation of India (LIC), Kotak Mahindra Bank, Indian Oil Corporation, Hero MotoCorp, Hindustan ...

SFB gets RBI approval to re-appoint Vasudevan as MD, CEO The Reserve Bank of India has approved the re-appointment of P N Vasudevan as the managing director (MD) and chief executive officer (CEO) of Equitas Small Finance Bank (SFB) for a three-year term. The reappointment is with effect from July 23, 2023, Equitas SFB told BSE. Vasudevan, in ...

How firms trying to evade GST are getting caught A countrywide crackdown by the Goods and Services Tax authorities uncovered tax evasion to the tune of Rs 8,100 crore,carried out via stolen identities and 4.909 bogus business establishments. The tax evasion was done by taking undue advantage of input tax credit of GST through shell companies  and fake bills. ...

NCR’s Golf Course Road sees 42% price hike “The investors are back, and DLF knows how to ace this game,” says 35-year-old Kapil, a property dealer in Gurugram. Earlier this year, real estate major DLF made headlines when it managed to sell out all 1,137 units — priced at Rs 7 crore and above — for over Rs 8,000 ...

RBI asks banking supervisors to get abridged with latest tech tools The Reserve Bank has called upon banking supervisors to get abridged with the latest technological tools so that their capabilities are enhanced enough to meet the challenges of the fast-evolving financial technologies. As banks adopt new technologies, it is essential for supervisors to be equipped with the ...

Credit cards in force touch new high in April even as rollovers decline Credit cards are no longer an urban preserve. Credit cards in force (CIF) reached a record high in April this calendar year, with 86.5 million cards in circulation, as banks permeated tier II, III, and IV centres. “Industry CIF increased by 1.2 million in April to ...

NabFID seeks to raise about $1 billion from multilateral institutions National Bank for Financing Infrastructure and Development (NaBFID) on Thursday said it was looking to raise about $1 billion from multilateral institutions to reduce overall cost of funds and diversify funding sources. The state-owned company’s debut 10-year non-convertible debenture offering received bids of Rs 23,629 crore, almost 2.4 times ...

EXIM Bank plans to step up funding to Indian firms eyeing African markets By Manoj Kumar NEW DELHI (Reuters) – India’s Export-Import Bank plans to step up investments under a government-supported line of credit programme to finance Indian companies looking to access fast-growing African markets, the bank’s top official said, part of a move to expand trade ties. ...

Unlikely that the RBI will precede the US Fed in pivoting to a rate cut US Federal Reserve Chair Jerome Powell had a direct message this week: rate cuts could be a “couple years out.” It’s probably giving India’s policymakers something to pause about.   Economists tracking India aren’t altering their forecasts for a rate cut as yet, which they ...