Top Indian Banking Industry News & Updates - 18 Aug 2023,Friday

🗎 RBI / MoF / Govt. Policies

📝  RBI approves appointment of P R Seshadri as MD & CEO of South Indian Bank
📝  RBI launches UDGAM portal for searching unclaimed deposits across multiple banks
📝  RBI signals intent to soon return funds sucked via incremental CRR hike
📝  Investment cycle gaining momentum, envisaged capex to jump over 80 pc in FY24: RBI Paper
📝  RBI to launch pilot on Public Tech Platform for frictionless credit: Soon, you will get loans in minutes; how it works
📝  This new RBI portal will help find unclaimed FD, savings account money
📝  Share of non-bank entities holding G-secs increasing since Covid: RBI paper
📝  Spike in inflation: RBI calls for reforms in perishables supply chain
📝  IRCTC initiates process to apply for payment aggregator licence
📝  Banks likely to raise deposit rates to meet credit demand
📝  Economy gathering momentum in Q2: RBI
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🏦 PSB / Pvt Banks

📝  SBI offers relief to loan borrowers in Manipur
📝  HDFC Group launches life insurance, asset management services from GIFT IFSC
📝  SBI Special Fixed Deposit offering highest interest rate to senior citizens extended. Details
📝  PNB, Tata Motors Finance ink pact for co-sourcing of commercial vehicles
📝  Punjab & Sind Bank to sell two KSK loans
📝  DCB Bank cuts FD interest rates by up to 50 bps
📝  IndusInd Bank shares rise on credit card launch
📝  Indian Bank extends online locker agreement execution through DDE platform of NeSL
📝  Axis Bank to provide Kisan Credit Card, unsecured MSME loans via RBI’s Public Tech Platform
📝  Yes Bank launches all-in-one `iris’ mobile app
📝  From Axis Bank to Canara Bank: Four banks increased FD rates for senior citizens, check details
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🏦 Co-operative Banks / RRBs

📝  SMC Capitals ties up with Translink Corporate Finance to increase global footprint
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🏦 Foreign Banks / FIIs / I-Banks

📝  Private credit funds turn innovative to deliver high returns
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🏦 Development Banks

📝  ADB approves USD 40.5 million loan for childhood development, maternal mental health in Meghalaya
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💳 ATMs / Credit Cards

📝  Issuers seek relaxation on certain product categories for card network portability
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🗎 NBFCs / FIs / MFI

📝  evfin to offer financing with buyback for Ather 2-wheelers
📝  Dadheech Infra case: NCLAT upholds insolvency proceedings; flags delay by NCLT in pronouncing verdict
📝  High cost of funds, rapid growth stay concerns for SFBs
📝  RBI rejects Cred bid to boost stake in Newtap Fin
📝  Greaves Finance Ltd partners with Ather Energy
📝  Burmans hike Religare stake
Read More >>

UPIs / Wallet / FinTech

📝  Airtel Payments Bank Q1FY24 revenue up 41% YoY at Rs 400 crore
📝  Fintech Vegapay raises $1.1 million led by Eximius Ventures, others
📝  Banking agents take credit and insurance offerings to last mile
Read More >>

🗠 Bourses

📝  NSE Indices changes criteria to calculate price-to-book value for indices
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Crypto

📝  Bitcoin tanks below $28,700, Shiba Inu, Dogecoin fall up to 7%
📝  BitGo bucks crypto downturn to raise funding at $1.75 billion valuation
📝  Coinbase gets approval to list crypto futures in the United States
📝  CoinSwitch Ventures, GravityX Capital to launch scaleup programme for Web3 startups
Read More >>

🗠 Mutual Funds / AMCs

📝  Shriram AMC to launch Shriram Multi-Asset Allocation Fund on Aug 18
📝  Bandhan Mutual Fund launches Bandhan Nifty IT Index Fund
📝  ESG funds continue to see outflow; Rs 520 crore pulled out in June quarter
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🗎 Equities, Pvt. Equity / Hedge Funds

📝  Motilal Oswal Alternates to raise Rs 2,000 crore through sixth realty fund
📝  Private equity, venture capital investments falls 5% to $3.9 billion in July: Report
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🗎 Govt. Securities / Bonds

📝  JPMorgan index may include India bonds in 2024
📝  Indian bond yields rise tracking US peers; local inflation dents sentiment
📝  Global G-Sec yields reach 15-year highs as rate-hike worries build
📝  India's OIS factors in one more rate hike; bond yields near top - traders
Read More >>


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