Top Indian Banking Industry News & Updates - 09 Aug 2023,Wednesday
🗎 RBI / MoF / Govt. Policies
📝 RBI imposes monetary penalty on 4 co-operative banks. Details here
📝 Loans against Fixed Deposits gain traction
📝 Private credit funds in India rush to fill gap left by banks
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🏦 PSB / Pvt Banks
📝 Exim Bank launches factoring subsidiary in GIFT city
📝 Top highest-paid Indian bank CEOs in FY 2023; here’s a look at their salaries and education
📝 ICICI Bank launches new offers; get an iPhone 14 for EMI of ₹2,341 and more; check details
📝 Overdrafts against fixed deposits on the rise, say senior bankers
📝 After SBI, BoI looks to put bad loans worth Rs 15k cr on the block
📝 Banks reject proposal by corporates to club 'fraud' A/Cs & 'wilful defaulters'
📝 Utkarsh Small Finance Bank Q1 Results: Profit jumps 20% YoY to Rs 107 crore on lower provisions
📝 Indian banks’ association forms sectoral committee for banks in GIFT City
📝 Public sector banks, major private banks collected over ₹21,000 cr for not maintaining minimum balance in accounts
📝 Punjab & Sind Bank to raise ₹250 crore capital via QIP, says MD & CEO Saha
📝 Want to stay on the pitch for long, not hit sixes and fours: IDFC First Bank MD
📝 Procedural delays likely in IDBI Bank stake sale; bids expected in Q3
📝 SBI's earnings growth may taper off in the near-term, warn analysts
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🏦 Foreign Banks / FIIs / I-Banks
📝 BofA upgrades Indian market outlook, sees Nifty at 20,500 by December
📝 JPMorgan Chase opens new offices in Mumbai, Bengaluru
📝 MUFG Bank lends $100 million to DFCCIL
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💳 ATMs / Credit Cards
📝 Credit card default rises to Rs 4,072 crore in FY23
📝 Airtel Payments Bank launches r-PVC-based eco-friendly debit card
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🗎 NBFCs / FIs / MFI
📝 Ananya Birla-founded Svatantra Microfin to acquire Sachin Bansal’s Chaitanya India Fin for Rs 1,479 cr
📝 CCI clears proposed acquisition of HDFC Credila Financial Services
📝 Bajaj Finance partners with new partner ICICI Lombard General Insurance to offer motor insurance policies
📝 Gold loan led Capri Global NIM growth to 5-quarter high: Rajesh Sharma
📝 Indian private credit funds rush to fill gap left by banks
📝 Altigreen partners with Mufin Green Finance to drive green mobility solutions
📝 Honda Cars India and Bajaj Finance collaborate to provide financial schemes
📝 Competition Commission approves Tata Capital merger plan
📝 Power Finance Corporation board to consider bonus issue, dividend on August 11
📝 Electronica Finance enters Telangana market to extend loans to MSMEs
📝 Over three-fourths of low-income consumers see their incomes rising next year: Home Credit India
📝 Shriram Group tycoon who gave away $750 mn sees profit in loans to poor
📝 Religare Enterprises Q1 loss narrows to Rs 6 crore
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UPIs / Wallet / FinTech
📝 MobiKwik posts first ever consolidated profit in June quarter
📝 PB Fintech shares fall over 4% post Q1 earnings
📝 Proxgy launches 'Made in India' pocket sound box AudioCube Mini
📝 Over 3,000 fintech startups registered with DPIIT in India: MoS Corporate Affairs
📝 Vijay Shekhar Sharma-Antfin deal: Chinese shareholder reducing stake in Paytm a fundamentally positive, say analysts
📝 Paisabazaar Q1FY24 loan disbursals rise 53% to Rs 3,542 crore
📝 PwC resigns as Paytm Payments Services' auditor, SR Batliboi appointed
📝 Paytm Payments Services appoints S.R. Batliboi & Associates as its auditor
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Crypto
📝 Coinbase to buy back junk bonds as Bitcoin hovers near 2023 high
📝 Crypto exchange Bitstamp in talks to raise funds for expansion, CEO says
📝 Cryptoverse: All eyes on ChatGPT-maker’s Worldcoin
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🗠 Mutual Funds / AMCs
📝 Indian private credit funds rush to fill gap left by banks
📝 New Fund Offer: Kotak S&P BSE Housing Index Fund
📝 Nippon India Mutual Fund launches new fund. Eight things to know about Nippon India Innovation Fund
📝 Passive funds have gained market share from 1.4% of AUM in 2015 to over 17% today: Motilal Oswal Mutual Fund
📝 Nippon India Mutual Fund launches Nippon India Innovation Fund
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🗎 Equities, Pvt. Equity / Hedge Funds
📝 Carlyle buys into Quest Global, invests $500 million
📝 FIIs remain in selling mode offloading ₹711 cr, DIIs infuse ₹537 cr mitigating downside risk; check details
📝 FPIs unhappy with the prospect of instantaneous settlement in Indian equities markets
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🗎 Govt. Securities / Bonds
📝 India corp bond issuance on track to hit record highs this fiscal year: Bankers
📝 Jamnagar Utilities eyes Rs 4,000 crore via bonds
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✈ International
📝 Moody's downgrades 10 US banks, warns of possible cuts to others
📝 PayPal debuts US dollar-backed stablecoin for payments
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