Finance News

Sidbi signs MoU with HDFC Bank to offer financial solutions to MSMEs State-owned Small Industries Development Bank of India (SIDBI) has entered into a Memorandum of Understanding (MoU) with HDFC Bank for providing financial solutions to MSMEs. Under the MoU, SIDBI and HDFC Bank will work together to provide complete financial product and services to the customers under ...

How a repo rate hike/cut impacts your home loans and EMIs The Reserve Bank of India is expected to keep the repo rate unchanged at 6.50% on Thursday, for a second straight month, signaling that inflation could cool further in the months ahead.  But how does a repo rate hike impact your home loan EMIs?   The central bank ...

RBI monetary policy committee begins deliberations on finalising key rates The Reserve Bank of India’s rate-setting monetary policy committee (MPC) on Tuesday began its three-day long deliberations on deciding the key repo rates. The panel will announce, on June 8, its decision whether to hold the rates (which it had done during it’s previous meeting in April) or ...

RBI expected to pause again with markets watching for shift in stance By Anup Roy and Subhadip Sircar The Reserve Bank of India is expected to pause for a second straight month as inflation eases and market watchers are looking for cues of a shift in policy stance to support growth in Asia’s third largest economy.  All 40 ...

Visits to banks, physical presentation of documents can be avoided: Report High-balance bank accounts without updated KYC under govt’s radar No need for customers to visit bank branches for re-KYC, says RBI RBI hikes repo rate by 35 bps to 6.25%, cuts FY23 GDP forecast to 6.8% RBI MPC: Here is what experts have to say about the policy announcement ...

Banks can offer NDF contracts to resident Indians for hedging: RBI MUMBAI (Reuters) – India’s central bank has issued rules allowing banks to offer non-deliverable forward contracts involving the rupee to resident Indians. These contracts can be issued to non-retail residents for hedging purposes and settled in Indian rupees, the Reserve Bank of India said in a notification. ...

270 mn loans to women under MUDRA; here’s all you need to know about scheme Higher penetration doubles quarterly MSME loan disbursals since 2020: Rpt As Manipur reels from violence, home minister Shah to visit the state today 96% MSMEs in India optimistic about 2023, expect profits to rise: Report Lenders to step up work on large size loans under ...

RBI permits international banking units at IFSC to settle NDDCs in rupee The Reserve Bank on Tuesday permitted international banking units (IBUs) in GIFT City in Gujarat to settle non-deliverable foreign exchange derivative contracts (NDDCs) in Indian rupee. So far, derivatives are cash-settled in foreign currency. As per the notification, Authorised Dealer (AD) Category-I banks operating IBUs ...

Non-life insurance premium grew 18.1% to Rs 18,031.48 crore in May New tax norm to hurt insurers; stocks attractive for the long run: Analysts Increase in premium amount of life insurance a big concern for customers How to book train insurance for less than a rupee, claim up to Rs 10 lakh Covid was the moment of truth for the ...

Banks’ reliance on AI to handle customer service worries consumer watchdog Can you trust Erica, or Sandi or Amy to increasingly control parts of your financial life without giving you inaccurate information or sending money to the wrong place? That’s what the Consumer Financial Protection Bureau is asking in a report released Tuesday, where the bureau lays out a ...