Finance News

RBI Guv Das launches advanced supervisory monitoring system DAKSH Reserve Bank Governor Shaktikanta Das on Thursday launched a new ‘SupTech’ initiative DAKSH – the bank’s Advanced Supervisory Monitoring System, which is expected to make the supervisory processes more robust. In a statement, the Reserve Bank of India (RBI) said it has been taking various initiatives in strengthening ...

Cost of spending on digital transformations plateauing: HDFC Bk’s Parag Rao India’s largest private lender HDFC Bank is witnessing a plateau in its cost to income when it comes to the spending on digital transformations, Parag Rao, group head (payments, consumer finance, digital banking, and IT) said on Thursday. Speaking on the sidelines of a product launch ...

Ujjivan SFB reports 44 % YoY growth in advances in Q2, loan book expands Ujjivan Small Finance Bank posted 44 per cent year-on-year (YoY) growth in advances at Rs 20,938 crore in the second quarter ended September 2022 (Q2 FY23). Sequentially, its loan portfolio expanded by eight per cent over Rs 19,409 crore at end of June 2022 (Q1 ...

Can Fin Homes to consider raising up to Rs 4,000-cr debt capital Canara Bank promoted housing loan provider Can Fin Homes is planning to raise debt capital of up to Rs 4,000 crore and will seek board of directors’ approval on this proposal later this month. The board of directors of the company is scheduled to meet ...

Rupee falls 32 paise to close at new low of 81.94 against US dollar The rupee plunged 32 paise to close at an all-time low of 81.94 (provisional) against the US dollar on Thursday amid high volatility as firm crude oil prices weighed on the local unit. At the interbank foreign exchange market, the local currency opened ...

Muthoot Finance to raise Rs 300 cr via secured NCDs, issue size at Rs 75 cr Muthoot Finance Ltd has said it will raise Rs 300 crore by issuing secured redeemable non-convertible debentures (NCDs) of face value of Rs 1,000 each. This issue will be open from October 6 to October 28 with an option to close ...

Loan for 20 years, EMIs for 24: RBI rate hikes leave borrowers in a fix The continuous hikes in interest rates by the Reserve Bank of India (RBI) have led to a rise in tenure for home loans. The 20-year home loans are now 24 years long, a report by Economic Times (ET) said on Thursday. The borrowers who ...

NARCL makes offers to acquire Jaypee Infratech debt held by Public Banks State-owned banks that gave loans to Jaypee Infratech will be able to recover their money next month. However, 24,000 homeowners, owners of fixed deposits, and private lenders will have to wait until the bankruptcy court endorse the resolution plan of the winning bidder Suraksha Group, reported the ...

RBI plans to extensively use AI, ML to improve regulatory supervision The Reserve Bank is planning to extensively use advanced analytics, artificial intelligence and machine learning to analyse its huge database and improve regulatory supervision on banks and NBFCs. For this purpose, the central bank is also looking to hire external experts. While the RBI is ...

Bonds strengthen sharply as growth fears drag down US debt yields Government bonds strengthened sharply on Tuesday, with yield on the 10-year benchmark paper hurtling 11 basis points (bps) as US bond yields declined to their lowest levels in almost two months, dealers said. A fall in US debt yields increases the appeal of fixed-income instruments in ...