Top Indian Banking Industry News & Updates - 25 Aug 2023,Friday
🗎 RBI / MoF / Govt. Policies
📝 RBI increases upper limit of offline payment transaction to ₹500 from ₹200
📝 Need to be vigilant about evolving retail inflation trajectory: RBI
📝 I-CRR effect: Banks, NBFCs rush to raise short-term funds
📝 Promoters are clearing their dues faster under the threat of insolvency
📝 Continued supply side measures essential to prevent spiraling of food supply shocks: RBI Governor
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🏦 PSB / Pvt Banks
📝 HDFC Bank''s asset quality continues to be stable: Senior bank official
📝 Omega Seiki Mobility partners with Punjab National Bank to boost E-3W financing
📝 Bandhan drops anchor in Delhi and Mumbai to drive growth
📝 Coming on heels of a merger, HDFC Bank now hit most by RBI’s liquidity-draining move
📝 This bank offers 9% interest on senior citizen FDs, 8.5% interest on general FDs
📝 Bandhan Bank spends Rs 160 crore to buy office space in Mumbai
📝 Action under SARFAESI Act last resort to recover loans : JK Bank MD
📝 State Bank of India may have attracted top distressed asset buyers' interest for its bad loans
📝 Modern services sectors can create 3 million jobs: Axis Bank chief economist
📝 Union Bank prices equity share at Rs 86.55 for QIP; raises Rs 5,000 crore
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🏦 Foreign Banks / FIIs / I-Banks
📝 HSBC’s green hydrogen partnerships unveiled by FM
📝 World's First Fully Automated Investment Fund
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💳 ATMs / Credit Cards
📝 HDFC launches co-branded credit card with Marriott Bonvoy
📝 No stress in credit card business: HDFC Bank’s Parag Rao
📝 Mastercard, Binance to end crypto card partnership
📝 BankSathi emerges as India’s third-largest credit card issuer, reinforces commitment to financial innovation
📝 Credit card spends may be brought under LRS after May 2024
📝 HDFC Bank, Marriott unveil co-branded credit card
📝 Yes Bank partners fintech company Zaggle for corporate credit card with spend management
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🔍 Rating / Research
📝 Indian banks’ dividend to rise to at least 7-year high in FY24 – S&P report
📝 New avenues open for IDFs but risks also higher: ICRA
📝 Banking sector posts 16.2% growth in credit offtake in Q1, FY24 outlook remains positive, says CareEdge
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🗎 NBFCs / FIs / MFI
📝 Alternate financing to capitalize on the $500 billion SME credit opportunity in India, says new report
📝 Muthoot Fincorp One platform to contribute 10% of group revenue in 3 years
📝 Reliance Commercial to infuse Rs 1,043 cr in Reliance Infra, Reliance Power
📝 Max Financial Services' promoter pares 3.6% stake for Rs 1,091 crore
📝 Unimoni, CSC ties up for air services, future expansion
📝 Manappuram Finance slips 4% after 10% equity change hands via block deal
📝 Sachin Bansal’s Navi Finserv raises ₹163 crore in securitization transaction with Citi, Northern Arc
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UPIs / Wallet / FinTech
📝 Antfin to sell 3.6% stake in Paytm via block deal: Report
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Crypto
📝 Bitcoin surges above $26,400 ahead of Fed's gathering at Jackson Hole; Cardano, Solana rise over 3%
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🗠 Mutual Funds / AMCs
📝 Our focus will now be on equity and hybrid space: Edelweiss MF MD & CEO
📝 Helios Mutual Fund files draft for overnight fund
📝 MFs not liable for bad calls; L&T MF case sets template
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🗎 Equities, Pvt. Equity / Hedge Funds
📝 Sebi issues disclosure norms for FPIs holding high Indian equity AUM
📝 SEBI to ease exit norms for PE/VC funds with illiquid assets in AIFs
📝 ‘Infra Debt Funds need robust underwriting with norms eased’
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🗎 Govt. Securities / Bonds
📝 NHAI seeks industry views amid slow surety bond insurance products growth
📝 India bond yields end little changed before RBI policy minutes
📝 Indiabulls Housing Finance repays Rs 2,232 cr, clears all $3-billion ECBs
📝 India to hold off on green bonds sale
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✈ International
📝 Bank of Korea holds interest rates steady, as expected
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