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RBI imposes Rs 20 lakh fine on Manappuram Finance NBFC norms violation The Reserve Bank has imposed a penalty of Rs 20 lakh on Manappuram Finance for non-compliance with certain provisions of the NBFC norms. This penalty on the Thrissur-based gold loan company, which by AUM is the second largest such pure-play lender, is based on the deficiencies ...

Pvt banks’ slippages from Covid recast nearly double than that of PSBs Private sector banks’ slippages and write-offs from loans restructured after the COVID-19 pandemic are nearly double than that of their state-owned peers, a report said on Friday. Private sector banks have seen slippages and loan write-offs at 44 per cent, as against 23 per cent in ...

Delayed monsoon can impact inflation, expect CPI at 5.2%: Deutsche Bank A German brokerage on Friday warned that with the delayed monsoon, there is no scope for complacency on inflation even though official data for May has shown a cool-off. Deutsche Bank said it expects the average Consumer Price Inflation (CPI) for FY24 to come to 5.2 per ...

Farmers in Rajasthan to get housing loans under cooperative scheme Rajasthan farmers to get Rs 500 cr in FY24 to build greenhouses, shade nets Insurance cover to benefit 2 million cattle rearers in Rajasthan RSS-affiliated BKS warns govt of trouble if farmers demand not met on time Madhya Pradesh govt plans to pay insurance premium of small farmers How have ...

IndusInd Bank, Wise to offer low-cost and online inward remittance services IndusInd Bank, on Friday, announced its partnership with Wise, the global technology company specialising in moving and managing money around the world, to offer online inward remittance services to Non-Resident Indians (NRIs) residing in US and Singapore. IndusInd Bank’s multi-partner remittance service platform – Indus Fast Remit (IFR) ...

rbi: Banks ask RBI to frame policy for silver loans [ad_1] Banks have reached out to the banking sector regulator, seeking a policy framework for silver metal loans on the lines of existing gold metal loans, or GML, for borrowers which are mostly exporters or domestic manufacturers. This comes after silver exports including silver jewellery jumped by around 16% in ...

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. ...