Top Indian Banking Industry News & Updates - 10 Aug 2023,Thursday
🗎 RBI / MoF / Govt. Policies
📝 India broadens access to 'vostro' accounts to facilitate rupee trade
📝 RBI may tighten cash conditions, but CRR hike unlikely- Traders
📝 Finance ministry cautions against frauds in name of Indian customs
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🏦 PSB / Pvt Banks
📝 Axis Bank to acquire balance 7% stake in Max Life for Rs 1,612 crore
📝 SBI expects another pause in interest rates
📝 Bank loans rise 20% in fortnight to July 28
📝 Banks step up investment in digital infra
📝 Surplus liquidity in banking system surges to 14-months high
📝 Employees' union staged protest against privatisation of IDBI bank
📝 Axis Bank to pick up 6% more stake in Max Life for ₹1,612 crore
📝 PSU Banks Q1 results update: PNB, SBI lead as lenders on a strong footing, double the bottomline
📝 Banks garnered ₹21,000 crore for not maintaining minimum balance in accounts. Details here
📝 Banks post stellar numbers in Q1
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💳 ATMs / Credit Cards
📝 White-label ATM leader India1 eyes a slice of fintech
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🗎 NBFCs / FIs / MFI
📝 Tata Capital plans to raise Rs 28000 crore via debt in FY24
📝 Reliance ARC files plea against Vidarbha Industries’ debt sale
📝 Bombay HC rejects Axis Finance's petition on Zee
📝 Biz2X announces partnership with TruBoard
📝 Muthoot Capital Services posts 26% rise in Q1 net profit
📝 Shriram Group’s founder Thyagarajan says lending to poor is socialism and can be profitable: Report
📝 Vivriti Capital to raise Rs 500 cr via non-convertible debentures on Aug 18
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UPIs / Wallet / FinTech
📝 Lytus plans to invest $50 million in fintech business
📝 ‘MobiKwik is becoming a digital bank-like platform’: Upasana Taku, co-founder, MobiKwik
📝 IiAS raises question on Vijay Shekhar Sharma's promoter status in Paytm
📝 Cashfree Payments sees 57% growth in processing user identity verification
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Crypto
📝 Coinbase to redeem $150 million of its 2031 senior notes
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🗠 Mutual Funds / AMCs
📝 MF equity inflow falls further as investors book-profit
📝 Expect RBI to cut rates in first half of next calendar year: Shibani Sircar Kurian
📝 New Mutual Fund offers a chance to make money from innovative and disruptive technologies
📝 Large outflows hurt equity MFs in July
📝 What are Index funds? Why have they become popular? How to pick right one
📝 As markets rally, redemption by mutual fund investors from equity schemes rises in last 4 months
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🗎 Equities, Pvt. Equity / Hedge Funds
📝 July's VC funding wave breathes new life into startup ecosystem
📝 IndoSpace to invest $1 billion to acquire new warehousing, logistics assets in India
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🗎 Govt. Securities / Bonds
📝 SP group firm’s bond offers 16-17% yield but here’s the risk
📝 Bond yields in narrow range to limit banks’ Treasury Gains
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