Finance News

Hitachi Payment, BharatPe get RBI nod to operate as payment aggregators Hitachi Payment Services and BharatPe have received in-principle authorisation from the Reserve Bank of India (RBI) to operate as payment aggregators, said the companies on Tuesday. Hitachi, as a payment aggregator, will be able to provide its business-to-business (B2B) customers with digital payment products and value-added ...

Bank of Baroda increases MCLR from 8.3% to 8.5% effective January 12 Public sector lender Bank of Baroda (BoB) on Tuesday announced an increase in its marginal cost of funds-based lending rate (MCLR) by up to 35 basis points (bps) across tenors with effect from January 12. MCLR is the minimum interest rate below which a bank ...

Employee union urges Bank of Maharashtra to hike rates on term deposits An employees union has urged state-owned Bank of Maharashtra to raise the interest offered on fixed deposits for senior citizens to 7.10 per cent for 1- to 3-year tenor and above 6.50 per cent for others. “…the interest differential on the maximum rate ...

Rupee up 18 paise to 82.17 against dollar in early trade as oil prices ease The rupee rose 18 paise to 82.17 against the US dollar in early trade on Tuesday on easing crude oil prices. Forex traders said sustained foreign fund outflows and a weak trend in domestic equities weighed on investor sentiments and ...

IDBI Bank gets domestic, global bids for stake sale, says Dipam secy By Nikunj Ohri (Reuters) – The Indian government has received interest from both domestic and foreign investors to acquire a majority stake in IDBI Bank, the country’s divestment secretary told Reuters on Monday. On Saturday, the government said it got multiple bids ...

RBI lists 6 rating agencies for banks’ capital adequacy purposes The Reserve Bank of India on Monday released a list of domestic credit rating agencies banks are advised to use for risk weighting their claims about capital adequacy. The central bank listed Acuite Ratings & Research Limited, Credit Analysis and Research Limited (CARE), CRISIL Ratings ...

Three-four countries keen on UPI, says NPCI MD & CEO Dilip Asbe Unified Payments Interface (UPI) has generated interest from 3-4 countries, National Payments Corporation of India (NPCI)’s Managing Director and Chief Executive Officer Dilip Asbe said on Monday. The countries had shown interest in adopting UPI but it might take another 12 months to ...

Banks raise record Rs 91,500 crore in debt capital in FY23 so far: Report Amid tight liquidity condition, banks have issued a record quantum of bonds, with gross issuances hitting an all-time high of Rs 91,500 crore so far this fiscal, and are likely to close the financial year with around Rs 1.4 lakh crore. ...

Centre to fully exit IDBI Bank once it gets ‘upside value’: Dipam secy The government will soon notify the exemption period for meeting the public-shareholding norm for the prospective owner of IDBI Bank, Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey told Business Standard. He said the government would make a ...

Indian Overseas Bank hikes term deposit interest rates up to 45 bps Public sector Indian Overseas Bank on Monday announced a hike in the interest rates on rupees retail term deposits, up to 45 basis points, from Tuesday onwards. According to the bank, domestic/NRO/NRE depositors will get interest rate upto 7.75 per cent on term ...