Top Indian Banking Industry News & Updates - 03 Aug 2023,Thursday
🗎 RBI / MoF / Govt. Policies
📝 RBI likely to maintain status quo on interest rates: Experts
📝 Banks’ cost of funds up around 1% YoY on higher deposit, market rates
📝 Six public sector banks working without chairman, Centre informs Lok Sabha
📝 RBI nod to 34 applications from Russian banks to open accounts: Govt to Parl
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🏦 PSB / Pvt Banks
📝 IOB posts 27.5% jump in net profit in Q1 FY24
📝 Private banks taking branch route to expand deposit base
📝 Bank RoA at peak, need investment in tech, talent says McKinsey
📝 IOB bucks the Q1 industry trend to grow CASA in absolute & percentage terms
📝 Eyeing credit growth of 13% to 14% for FY24: IOB chief
📝 With a GDP growth of 6.5%, we will be growing at 13%: South Indian Bank CEO
📝 Indian banks outperform global peers on key financial parameters: McKinsey report
📝 PNB asks customers to update KYC by August 31, 2023: How to check KYC status
📝 NCLAT defers hearing on IDBI Bank's plea against Zee Entertainment to Aug 17
📝 ReNew gets Rs 2,700-cr project loan from SBI
📝 Fincare SFB revises savings account interest rates; earn up to 7.5%
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🏦 Co-operative Banks / RRBs
📝 RBI approves amalgamation of Navanirman Co-op Urban Bank with Rajadhani Co-op Urban Bank
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🏠 Housing Finance
📝 PNB Housing eyes 22 pc growth in fresh loan disbursements this fiscal
📝 Home loan customers’ EMIs spike by 20 pc, sharp rise in interest component
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💳 ATMs / Credit Cards
📝 India card payments market to surpass $728 billion in 2027, forecasts GlobalData
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🗎 NBFCs / FIs / MFI
📝 SBFC Finance IPO: Firm mobilises ₹304 crore from anchor investors ahead of subscription
📝 Small, mid-sized NBFCs may woo private equity investors
📝 Will take stock of L&T’s NBFC plan after FY26: Shankar Raman
📝 UGRO Capital reports 244% jump in Q1 net profit to ₹25.2 crore
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UPIs / Wallet / FinTech
📝 Fintech company CRED launches RuPay credit card-based UPI payments
📝 UPI transactions grow 44% to ₹15-lakh crore in July
📝 Cashfree Payments rebrands Zecpe, a one-click checkout platform, as Ecom360
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🧔 Brokers / Distributors
📝 Portability of brokers: Succour for investors?
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Crypto
📝 Kenya suspends crypto project Worldcoin over safety concerns
📝 Bitcoin rises above $29,600; Polygon, BNB surge up to 3%
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🗠 Mutual Funds / AMCs
📝 Best Large Cap Mutual Funds in 1 year (August 2023): Top 11 schemes with 17% to 24% SIP returns
📝 AMC stocks get mixed rating from brokerages
📝 HDFC Mutual Fund launches HDFC Transportation and Logistics Fund
📝 Sebi to ease proposals on mutual fund fee structures: sources
📝 Returned over Rs 27,000 crore to investors of 6 shuttered schemes, says Franklin Templeton MF
📝 Most flexi cap schemes benefit from more allocation to mid cap, small cap stocks
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🗎 Equities, Pvt. Equity / Hedge Funds
📝 Former BharatPe CBO launches tech fund; to invest in 15 startups in 2 years
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🗎 Govt. Securities / Bonds
📝 Indian bond yields rise as 10-year U.S. yield stays above 4%
📝 RBI, HDFC still in talks on infra tag for bonds; insurers seek IRDAI relief
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✈ International
📝 Rumours that Indian rupee can be used as legal tender refuted by Sri Lanka's central bank
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