Finance News

HDFC Bank partly recoups market share in credit card spends lost to embargo The country’s largest credit issuer, HDFC Bank, has regained a large chunk of the market share in credit card spends that it had lost after an embargo was imposed on it for issuing new credit cards. The ban was subsequently lifted by the Reserve Bank of ...

Re to remain under pressure, may test new levels: Experts on Fed rate hikes Indian rupee, which earlier this week touched an all-time low, is likely to remain under pressure and may test new levels as a fallout of the US Federal Reserve indicating more interest rate hikes, experts said. The aggressive rate hikes will dampen demand ...

Fed policy action, RBI rate decision key driving factors for mkts: Analysts The US Fed policy action, RBI rate decision and foreign fund flows are some of the major factors that will guide the equity markets in the near-term, analysts said on Wednesday. Besides these, September quarter earnings announcements would also pave the way for the markets, ...

Ministry of Finance reviews performance of PSBs, pushes for credit growth The Ministry of Finance, in a review meeting, directed public sector banks to push credit growth. Chaired by Financial Services Secretary Sanjay Malhotra, the meeting also discussed the non-performing assets (NPA) situation at PSBs, a report by The Economic Times (ET) stated. The government reportedly said that it was ...

Ahead of festive season, credit offtake remains strong in July 2022 The pace of bank lending remained strong in July 2022, ahead of the festive season, with sectors posting year-on-year (YoY) growth between 10.5 per cent and 18.8 per cent. Reserve Bank of India (RBI) data showed that credit to industry grew 10.5 per cent in July ...

Jammu and Kashmir to Kerala, SBI executives are at every corner office From Jammu & Kashmir Bank’s managing director (MD) and chief executive officer (CEO) Baldev Prakash to JK Shivan, MD and CEO of Dhanlaxmi Bank, and PVSLN Murty, North Eastern Development Finance Corporation’s chairman and MD — SBI executives are occupying the corner office across the length and ...

RBI launches key household surveys to get inputs for monetary policy Reserve Bank of India on Tuesday launched the next round of household surveys to capture inflation expectations and consumer confidence. The results of the survey provide useful inputs for monetary policy, the central bank said. The September 2022 round of Inflation Expectations Survey of Households ...

Rupee surges to end at 79.46 vs dollar as MSCI rebalancing spurs inflows The rupee notched up hefty gains versus the dollar on Tuesday as the MSCI’s quarterly index rebalancing resulted in a gush of inflows into Indian markets, dealers said. The aggressive defence of the rupee by the Reserve Bank of India in the face of ...

Credit card spends touch all-time high of Rs 1.16 trillion in July Credit card spends touched an all-time high of Rs 1.16 trillion in July, registering a growth of 6.5 per cent on a month-on-month basis and 54 per cent year-on-year, latest data put out by the Reserve Bank of India revealed. Spends have topped the Rs 1 trillion ...

Rupee marks biggest gain in one year on strong foreign inflows The Indian rupee notched its biggest one-day gain in a year on Tuesday against a wobbly dollar as local equities saw a rush of foreign investor inflows. The partially convertible rupee surged 0.6% to 79.45 in its best session since Aug. 27, 2021. The currency had ...