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Number of credit cards shrink by 23 lakh in a month [ad_1] (This story originally appeared in on Sep 28, 2022) MUMBAI: The total number of credit cards declined by 22.6 lakh on a net basis in August this year to 7.8 crore from over 8 crore in the previous month due to a change in the RBI’s regulation that ...

Rupee hits new low, inches towards 82 per dollar on hawkish US Fed The rupee weakened sharply against the US dollar to hit a fresh low as comments by members of the US Federal Reserve strengthened the anticipation of the American central bank continuing to hike rates at a rapid pace. The expectation of a longer US ...

DBS Bank revises savings account interest rates [ad_1] DBS Bank has revised its savings account interest rates effective from September 26, 2022. The bank will offer interest rates ranging between 3.5% and 5%. According to the DBS Bank website, below are the interest rates for digital savings accounts and digibank e-wallet. According to website, “Interest rate up to 25th Sep ...

Hawkish Fed may prompt Reserve Bank to deliver a 50-basis-point hike Interest rate hikes in the United States and the resultant pressure on the rupee is likely to give the Reserve Bank of India (RBI) reason to deliver a 50-basis-point rate hike on Friday even as it tries to protect a recovery in growth. The RBI’s monetary ...

RBI’s MPC to start 3-day meet on Wednesday, another rate hike likely The Reserve Bank’s rate-setting panel will start its 3-day deliberations on Wednesday amid expectations of yet another rate hike of 50 basis points to check high inflation, in line with similar actions taken by other major central banks, including the US Fed. Based on the ...

Thrust on non-par products to yield desired results: LIC chief M R Kumar State-owned Life Insurance Corporation (LIC) is confident that its strategy to rejig the product portfolio by introducing more non-participating products and a sharper focus on the bancassurance channel will give it the desired results in terms of growth and market share. “We intend to ...

India Ratings upgrades non-bank lenders’ outlook to neutral from improving Domestic rating agency India Ratings on Tuesday upgraded its outlook on the non-bank lenders to “neutral” from “improving” on better collection efficiencies and asset growth in the sector. It, however, said that liability management is key for managing margins and loan growth for non-bank finance companies (NBFCs) ...

HDFC Bank launches festive scheme; home, personal, auto loans included India’s largest private lender HDFC Bank has launched a range of special schemes for the festive season, including offers for personal loans, business loans, home loans and automobile loans. The loans for these categories, which fall under a scheme titled ‘Festive Treats 4.0’, are applicable till October ...

Bank of India acquires over 5.5% stake in ONDC for Rs 10 crore State-owned Bank of India has acquired over 5.5 per cent stake in Open Network for Digital Commerce (ONDC) for Rs 10 crore, the lender said on Tuesday. On September 27, 2022, the bank invested in the capacity of promoter shareholder of ONDC, an amount ...

Enhance coverage of scheduled castes in all schemes: FM Nirmala Sitharaman Finance Minister Nirmala Sitharaman on Tuesday advised public sector banks (PSBs) to enhance the coverage of scheduled castes (SCs) in all schemes. She also called for looking into their needs for capacity building and entrepreneurship development. She also asked banks to fill the remaining vacancies in ...