Finance News

Monetary policy faces severe information constraints: RBI DG Patra The moment inflation is released by NSO, it gets hit by unanticipated shocks, says RBI Deputy Governor Michael Patra

SBI to consider raising $1.2 billion through infrastructure bonds The fundraising, if approved, would be through a public issue or private placement during fiscal 2023, the bank added

Banking system better placed to sustain loan growth: SBI chief Khara Indian banking system is much better placed than the last cycle, and will be able to sustain the current round of high loan growth, State Bank of India (SBI) chairman Dinesh Kumar Khara said on Wednesday. Speaking at an economics conclave organised by the country’s largest lender, Khara said ...

Banks' overnight SDF balances eligible for LCR computation: RBI Circular embraces all commercial banks, leaves out local area banks, RRBs and payments banks

Interest subvention on KCC crop loan to continue in FY23, FY24: RBI The government of India has approved the continuation of the Interest Subvention Scheme (ISS) with modification for the financial years 2022-23 and 2023-24, RBI said

Bank boards can decide on waiving penalty on minimum balance: Karad The boards of individual banks can decide on waiving the penalty on accounts, which do not maintain a minimum balance, Union Minister of State for Finance Bhagwant Kishanrao Karad on Wednesday said. “Banks are independent bodies. They have boards which can take a decision to waive off the penalty,” ...

RBI likely sold dollars, received forwards to stem rupee’s drop: Report The Reserve Bank of India likely sold dollars via state-run banks on Tuesday and conducted buy/sell swaps to limit the rupee’s losses, three traders told Reuters. The rupee was last trading at 82.3850, down from 82.32 in the previous session after hitting a record low of 82.6825 ...

Rupee depreciates 1 paisa to 82.41 against US dollar in early trade The rupee slipped 1 paisa to 82.41 against the US dollar in the morning trade on Tuesday amid the strengthening of the American currency and sustained foreign fund outflows. Moreover, a weak trend in domestic equities and risk aversion sentiment among investors weighed on the ...

EVs, green hydrogen to soon come under priority sector lending: Report Loans for electric vehicles and green hydrogen may soon be categorised under priority sector lending (PSL) by banks. Several banks have suggested the move to the Reserve Bank of India (RBI), a report in Economic Times (ET) said. Banks reportedly told the RBI that categorising such ...

Indian insurance industry can be sixth largest globally: Irdai chairman The Indian insurance sector, which is growing at 11 per cent CAGR for the last five years, the momentum is expected to continue and could lead India to become the sixth largest market globally, from ten now, said Debasish Panda, chairman, Insurance Regulatory and Development Council of India. ...