Finance News

SBI rolls out BHIM SBIPay for S’pore-India transfer after UPI-PayNow linkage State Bank of India (SBI), one of the banking partners roped in for inward and outward remittances that can be carried out through the UPI-PayNow linkage, has rolled out BHIM SBIPay, a mobile application that will facilitate fund transfers from India to Singapore through registered mobile ...

SMEs in Singapore urged to use PayNow-UPI scheme for biz deals with India The Singapore Indian Chamber of Commerce and Industry (SICCI) has urged Small and Medium Enterprises (SMEs) in the city-state to use the PayNow-UPI linkage for business dealings with India for ease of payment. SICCI Chairman Neil Parekh, while welcoming the launch of ...

Rupee falls 4 paise to 82.83 against US dollar on muted domestic equities The rupee depreciated 4 paise to 82.83 against the US dollar in early trade on Wednesday, weighed down by a muted trend in domestic equities. However, fresh foreign fund inflows and a weak American currency against major rivals overseas capped the losses ...

Inbound travellers from G20 countries can now use UPI, says RBI The RBI on Tuesday said inbound travelers from G20 countries arriving at Mumbai, Delhi, and Bengaluru international airports would be able to use Unified Payments Interface (UPI) for merchant transactions. Eligible travelers would be issued Prepaid Payment Instruments wallets linked to UPI for making ...

RBI may set cutoff yield on 10-yr state bonds in 7.69%-7.71% band: Poll Indian states will aim to raise an aggregate of 207.37 billion rupees ($2.51 billion) on Tuesday through the sale of bonds maturing between seven years and 30 years. The Reserve Bank of India will likely set cutoff yields for the 10-year bonds ...

Kotak Mahindra Bank takes corporate digital banking portal ‘Kotak fyn’ live Private sector lender Kotak Mahindra Bank on Tuesday went live with ‘Kotak fyn’, an integrated portal developed to offer comprehensive digital banking and value-added services to its business banking and corporate clients. The portal will offer services across all products, including trade & services, ...

Banks’ improving performance supports intrinsic creditworthiness: Fitch A sustained improvement in the financial performance of Indian banks bodes well for the sector’s intrinsic risk profiles, according to global rating agency Fitch. The pace of asset quality and profitability improvement has exceeded expectations, while capital buffers are broadly in line with the projections, it said in ...

More insurance players required for diverse needs of citizens: Irdai chief While India’s insurance sector has greatly matured from the time it was opened up 20 years ago, the emerging needs of various sections of the populations have made it amply clear that the existing 70-odd players cannot fulfil all of them. Hence, the entry of new ...

India, Singapore link systems for real-time cross-border fund transfers India and Singapore linked their systems that enable real-time money transfers between the two nations, as countries in the region seek to bring down barriers to the quick movement of funds. Reserve Bank of India’s Governor Shaktikanta Das initiated the first transaction with his counterpart Managing Director Ravi Menon, ...

Rupee depreciates 3 paise to 82.76 against US dollar in early trade The rupee depreciated 3 paise to 82.76 against the US dollar in early trade on Tuesday, weighed down by a strong American currency. Forex traders said the rupee is trading in a narrow range as a positive trend in domestic equities and easing ...