Top Indian Banking Industry News & Updates - 29 Aug 2023,Tuesday
🗎 RBI / MoF / Govt. Policies
📝 Jan Dhan Yojana revolutionised financial inclusion in India, more than 50 cr bank a/cs opened: FM Sitharaman
📝 Transfer of stressed assets to ARCs: Lenders to widely disseminate information and give access to checklist
📝 Reserve Bank of India's liquidity withdrawal pushes bank CD issuances to 3-month high
📝 Ministry of Finance asks ministries to be realistic with budgetary requests
📝 RBI governor-headed FSDC-SC resolves to remain vigilant against external vulnerabilities
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🏦 PSB / Pvt Banks
📝 Bank deposit growth touches six-year high of 13.5 pc in fortnight ended Aug 11
📝 Lenders working on common portal to handle digital frauds
📝 Incremental CRR: As liquidity tightens, banks push CDs
📝 Baroda UP Bank to rationalise over 250 branches in semi-urban, rural areas
📝 PSU banks focus on expanding start-up branch network
📝 Shareholders thwart Kerala-based Federal Bank's ESOP extension plan
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🏠 Housing Finance
📝 SBI home loan interest rate concession of 55 bps ends in three days
📝 IFC and Shriram Housing Finance join hands to promote construction of green, low-cost houses in India
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🗎 NBFCs / FIs / MFI
📝 Reliance AGM: Jio Financial Services to enter insurance sector, says Mukesh Ambani
📝 Microfinance institutions' profitability to rise to 2.7-3 per cent this fiscal: Report
📝 Loan waiver promises may hamper micro loan repayment, but only temporarily
📝 NBFC-MFIs’ AUM to grow 24-26%, profitability 2.7-3.0% in FY24
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UPIs / Wallet / FinTech
📝 PB Fintech: On 30% growth trajectory; the company’s shift to online insurance assistance continues
📝 Former COO Dhruv Dhanraj Bahl to step down from BharatPe: Report
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Crypto
📝 Crypto criminals steal over $10bn to date, despite crypto crime slowing down
📝 The ‘Fidelity Mafia’ Behind Big Crypto
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🗠 Mutual Funds / AMCs
📝 Large cap mutual funds offer 7% in Jan-June; topper gives 11%
📝 Focus will be on digital-first investment products: BlackRock chief
📝 SBI Small Cap Fund to Kotak, Axis, Nippon India: Schemes with up to 29% returns in 5 years (August 2023)
📝 Edelweiss CEO Radhika Gupta shares '5 money tips' for youngsters who have just started earning
📝 Aashish P Somaiyaa explains why India will stand out compared to peers, especially the US
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✈ International
📝 FTX's Bankman-Fried appeals judge's decision to jail him pending trial
📝 Powell has bond traders right where he wants them: Full of doubt
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