Top Indian Banking Industry News & Updates - 11 Aug 2023,Friday

🗎 RBI / MoF / Govt. Policies

📝  RBI sits on pause for 3rd time in a row, keeps repo rate unchanged at 6.5%
📝  RBI asks banks to set aside incremental CRR
📝  RBI raises FY24 inflation forecast to 5.4%; flags need to go beyond keeping Arjuna's eye amid galloping food prices
📝  Reset of floating rate home loan EMIs to get more transparent, option to switch to fixed interest rate soon: RBI
📝  Have a policy for bad loan write-offs, focus efforts on recovery: RBI to banks
📝  RBI relaxes infrastructure debt funds guidelines
📝  Monetary Policy Committee decisions: Full view of what happened at RBI's August policy meeting
📝  RBI monetary policy: The liquidity lever may prove to be better price tamer
📝  NBFC-IDFs do not need sponsors, says RBI
📝  Would like banks to double efforts on recovery of written-off loans: RBI
📝   RBI not ‘unduly concerned’ about Russian investments in G-secs, says Das
📝  RBI’s arm developing digital public tech platform to enable frictionless credit delivery
📝  Incremental CRR to exert upward pressure on deposit and lending rates
📝  Buffers are best built up during tranquil and good times: Guv to regulated entities
📝  RBI Monetary Policy Highlights: MPC keeps repo rate unchanged at 6.5%; inflation for FY24 pegged at 5.4%
📝  Conditions favourable for private investment to pick up: RBI Governor
📝  Hawkish RBI maintains status quo
📝  New 10% incremental cash reserve requirement could suck in Rs 1 lakh crore from circulation
📝  RBI, repo rate and tomatoes: A hawkish Das upsets the 'peak rate' narrative
Read More >>

🏦 PSB / Pvt Banks

📝  Banks cautious on lending to small businesses despite high demand, lower NPAs
📝  Suryoday Small Finance Bank Q1 results: Profit jumps six-fold to ₹47.6 crore
📝  Karur Vsysa Bank raises lending rate by 0.15 per cent
📝  Five day work week for banks gets IBA nod
📝  ICRR a temporary measure and won’t have too much impact on us: Ashwini Kumar Tewari, SBI
📝  RBI’s policy communication nuanced, says SBI’s Khara
Read More >>

🏠 Housing Finance

📝  New guidelines soon on banks resetting tenor & EMI of your home loans
📝  Repo pause may support housing market growth in festive season
Read More >>

💳 ATMs / Credit Cards

📝  SBI Card enables RuPay credit cards on UPI
📝  Mastercard targets 5 lakh small businesses for digital tech adoption by 2025 under new programme
Read More >>

🗎 NBFCs / FIs / MFI

📝  Max Financial Services shares surge 10% on promoter Axis Bank’s stake purchase, Q1 earnings
📝  Manappuram Finance Q1 results: Profit rises 76% on gold loan demand
📝  Cholamandalam Financial Q1 consolidated net rises 36% to ₹792 crore
Read More >>

UPIs / Wallet / FinTech

📝  More countries, including Japan, a few from the West, interested in UPI linkages: RBI
📝  RBI raises per transaction limit for UPI Lite to Rs 500 from Rs 200 to promote digital transaction
📝  Soon, AI will let you make a UPI payment using voice
📝  Will take 2 years before we move from a payments bank to a SFB: Rishi Gupta, Fino Payments Bank
Read More >>

Crypto

📝  Ministry of Electronics & Information Technology intends to add crypto tokens to its national web browser plan
📝  Bitget hosts blockchain for youth in Mumbai to spread emerging tech awareness in India
📝  Binance becomes a licensed crypto exchange in El Salvador
Read More >>

🗠 Mutual Funds / AMCs

📝  SIP inflows cross Rs 15,000 crore in July
📝  Helios Capital gets SEBI nod to enter MF business
📝  Nippon Life Innovation Fund NFO: Should you invest?
📝  HSBC Mutual Fund launches HSBC Consumption Fund
📝  Parag Parikh Mutual Fund files draft for arbitrage fund
📝  Profit-booking at highs slows flows into active equity funds
📝  Mutual fund managers decode RBI rate pause for investors
Read More >>

🗎 Equities, Pvt. Equity / Hedge Funds

📝  CapitaLand Investment launches ₹3,261-cr fund to invest in India
📝  PE Investment in Indian Realty recorded at $1.92 bn in Q2, up 60%
📝  Actis to buy Patel Infra’s 5 roads for around $91 mn
📝  Equity Market remains under pressure as RBI increases inflation estimate and CRR for Banks
Read More >>

🗎 Govt. Securities / Bonds

📝  Bond yields soften as RBI move eases debt supply concerns
📝  Framework in the works for integrity of benchmarks
Read More >>


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