Finance News

RBI opts for smaller repo rate hike of 35 bps, hints at more to come The six-member monetary policy committee (MPC) of the Reserve Bank of India (RBI) on Wednesday increased the policy repo rate by 35 basis points (bps) to 6.25 per cent, the highest level since February 2019. With this, the repo rate has been increased by ...

Exploring tech, legal provisions to keep e-Rupee transactions ‘anonymous’ The Reserve Bank of India (RBI) is exploring technological solutions to keep retail transactions using the digital rupee ‘anonymous’. Deputy Governor T Rabi Sankar said the central bank could also explore legal provisions to keep the transactions anonymous. It will weigh its options as things evolve but will ...

Rate hikes, base effect may temper credit growth in medium term: Analysts Even as an economic upturn may keep the demand for loans robust in the next few quarters, multiple interest-rate hikes and the base effect may moderate credit growth year-on-year in the medium term. Soumya Kanti Ghosh, group chief economic advisor of SBI, said the analysis indicates that ...

Bank of Maharashtra raises Rs 348 cr from bonds to fund business growth State-owned Bank of Maharashtra (BoM) on Wednesday said it has raised Rs 348 crore from bonds to fund business growth. The lender raised the funds through private placement of Basel-III compliant tier II bonds, BoM said in a regulatory filing. The paper of ...

Despite smaller rate hike, bond market sees no let-up in RBI tightening Reserve Bank of India (RBI) Deputy Governor Michael Patra on Wednesday said the central bank moderating the size of rate hikes was a fundamental guidance given to the markets. The RBI’s Monetary Policy Committee (MPC) announced a 35-basis point increase in the repo rate to 6.25 per cent ...

FinMin allows PSUs to invest in debt schemes of all mutual funds The finance ministry — in an office memorandum on Wednesday —allowed public sector undertakings (PSUs) to invest in debt schemes of all mutual funds. Earlier, provisions limited central public sector enterprises (CPSEs) to investment in public sector mutual funds only, in which the government held ...

FSIB invites applications from candidates for Bank of Baroda’s CEO post The Financial Services Institutions Bureau on Wednesday invited applications from eligible candidates for the post of Managing Director & Chief Executive Officer (MD & CEO) of Bank of Baroda (BoB). Last month the headhunter for directors of state-owned banks and financial institutions had invited applications for ...

Mix of PSBs aided in boosting customer services, creating strong banks: MoS The amalgamation of public sector banks has helped in improving customer services and creating strong banks, Minister of State for Commerce and Industry Som Parkash said on Wednesday. In a written reply to a question in the Lok Sabha, the minister said the objective of ...

Repo Rate: We’ve lowered size of policy rate change, RBI’s Das and Patra tell media After the monetary policy committee (MPC) raised the repo rate by 35 basis points to 6.25 per cent, the Reserve Bank of India (RBI) management, including Governor Shaktikanta Das and Deputy Governor Michael Patra, spoke to the media on various issues. Edited Excerpts: ...

Digital currency like cash, no need for lack of privacy fears: RBI Guv The Reserve Bank of India (RBI) has decided to enhance the mandates of United Payment Interface (UPI), expand the scope of Bharat Bill Payment System (BBPS) and ensure privacy of people in the case of digital currency transactions, said Governor Shaktikanta Das on Wednesday. ...