Finance News

Indian bank’s performance till Dec 22 exceeds expectations: Fitch Ratings The pace at which the asset quality and profitability of Indian banks have improved has exceeded expectations, while capital buffers are broadly in line with Fitch Ratings’ projections. There is a further upside in performance and this could persist for longer than expected, according to the agency. ...

RBI acting to curb inflation, capital outflow: FM Nirmala Sitharaman Defending the interest rate hikes by the Reserve Bank of India (RBI), Finance Minister Nirmala Sitharaman on Monday said that the central bank is not necessarily synchronising with central banks of the developed world, but acting to control inflation and capital outflow. “None of us ...

Motilal Oswal AMC introduces new features in SWP; calls it ‘FAB’ plan Motilal Oswal Asset Management Company (MOAMC) has announced a new feature of its SWP facility called the Motilal Oswal Fixed Amount Benefit (FAB) Plan. Investors can withdraw a regular amount of their investment at a fixed percentage and at a predefined frequency, regardless of the ...

Banks, financial institutions should safeguard banking security, says RBI In view of the cybersecurity risk posed to the banking sector, Reserve Bank of India Executive Director Rohit Jain on Monday asked banks and financial institutions to adequately resource the banking security structure. He also underlined the need to be prepared for the potential impact of ...

Over 1.6 mn cyber attacks blocked on Indian insurance firms a day in Jan Over 1.6 million cyber attacks were blocked on Indian insurance companies every day in January, a report showed on Monday. A total of 49,844,877 cyber-attacks were recorded on 114 insurance sector websites. On average, insurance sector applications face 430,000 attacks ...

RBI will take required action to keep inflation in check: FM Sitharaman The Reserve Bank of India (RBI) will take necessary steps to manage inflation within “expected limits”, Finance Minister Nirmala Sitharaman said at a post-Budget event in Jaipur on Monday. “In emerging markets, the situation is unique to each of the countries. In that ...

Indians spent nearly $10 billion on foreign travel in April-December Indians spent around $10 billion on overseas travel between April and December, a report by the Times of India (TOI) said, citing data from the Reserve Bank of India (RBI). It is the highest ever such figure, even more than the spending in any financial year. Before ...

Flows into NRI deposits up 76% to $5.4 billion in April-December The flow of money into deposits of Non-Resident Indians (NRIs) rose 76 per cent to $5.4 billion in April-December this financial year over $3.07 billion in the same period 2021. However, the streak of decline in outstanding NRI deposits (what is shown in the ...

Gap between rise in MCLR, term deposits crosses 40 basis points The rate hikes undertaken by the Reserve Bank of India’s (RBI’s) Monetary Policy Committee (MPC) since May to bring down the inflation rate has resulted in a 120 basis points (bps) increase in the one-year median marginal cost of funds-based lending rate (MCLR) by banks. ...

BoM tops list of public sector lenders in loan growth, asset quality Bank of Maharashtra (BoM) has emerged as the top performer among state-owned lenders in terms of loan growth percentage during the third quarter of 2022-23, an analysis of the latest financial results of public sector banks showed. The Pune-based lender recorded a 21.67 ...