Top Indian Banking Industry News & Updates - 19 May 2023,Friday
🗎 RBI / MoF / Govt. Policies
📝 Why did Modi Govt change international credit card FEM(CAT) 2000 rules? FinMin explains
📝 RBI gives nod to SBIFML to acquire 9.99 per cent stake in HDFC Bank
📝 RBI’s annual dividend for FY23 to be 2.4x of budgeted amount
📝 RBI planning strict rules for firms offering payments via PoS machines
📝 RBI to conduct 14-day repo auction worth 500 billion rupees on May 19
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🏦 PSB / Pvt Banks
📝 SBI profit surges 83% to ₹16,695 crore in Q4
📝 There could be some moderation in credit growth in FY24: SBI Chief Khara
📝 Senior citizens go big on small savings scheme
📝 Kotak Mahindra Bank savings account customers will not get SMS alerts for these UPI transactions
📝 Axis Bank reduces FD interest rate by 20 bps on this tenor: Check details
📝 ‘We can learn from consumer firms; no plans to spin off 811’
📝 AU Small Finance Bank joins Rs 50,000 cr m-cap club as stock hits new high
📝 Bank of Baroda hikes fixed deposit (FD) interest rates. How they compare with SBI, HDFC Bank, ICICI Bank
📝 SBI party may cool after Q4 thrill
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🏦 Foreign Banks / FIIs / I-Banks
📝 CCI clears merger of Credit Suisse Group with UBS Group
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🏠 Housing Finance
📝 India’s PNB Housing Finance reports 65% jump in Q4 profit on strong demand
📝 Want a bigger home loan? 5 ways to increase loan eligibility amount amid rising interest rates
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💳 ATMs / Credit Cards
📝 Changes in FEMA rules: Debit, credit cards to have parity; business visits of employees exempted from LRS
📝 Paytm partners with NPCI to launch Paytm SBI Card on the RuPay network
📝 25% of new credit card issues happen on RuPay network: NPCI Rai
📝 CMS Info Systems forays into ATM manufacturing with a new plant in Chennai
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UPIs / Wallet / FinTech
📝 Airtel Payments Bank net profit surges 141% in FY23
📝 BharatPe appoints former ICICI Bank executive Sandeep Indurkar as CBO
📝 Financial services platform airpay joins ONDC
📝 Mobile wallets market in India to surpass $5 trn in 2027, says GlobalData
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🗠 Bourses
📝 Sebi levies Rs 50 lakh fine on 10 entities for indulging in non-genuine trades
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Crypto
📝 Crypto-based Revolut unveils Australian business services
📝 The crypto market is a gamble. Regulating it shouldn’t be: Lionel Laurent
📝 Bitcoin rises above $27,200, Polygon, Cardano climb up to 3%
📝 Bankrupt crypto lender Voyager Digital predicts 35% customer payout
📝 Scaled tech infrastructure to offer products beyond crypto: Ashish Singhal, CoinSwitch
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🗠 Mutual Funds / AMCs
📝 Nippon Life India appoints Ashish Chugani as AIF head
📝 AMFI categorisation review may see 8 stocks entering large- cap club: Nuvama
📝 Value vs growth style in MFs: Importance of portfolio characteristics
📝 SBI Mutual Fund launches SBI S&P BSE Sensex Index Fund
📝 ‘Safe’ multi asset funds offered 11.73% in one year, over 20% in three years
📝 ELSS may lose edge under new tax regime
📝 India is up for a good growth story: Jinesh Gopani
📝 Sebi proposes uniform total expense ratio for mutual funds
📝 HDFC AMC fixes record date for ₹48 per share dividend: Key details inside
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🗎 Equities, Pvt. Equity / Hedge Funds
📝 Kotak Equities initiates coverage on KFin Technologies, sees 18% upside. Here's why
📝 FPIs bet big on risk in India; mutual funds go big on small-cap stocks
📝 Reduce equity related risks by diversifying investment pool, Bankbazaar.com CEO Adhil Shetty says
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🗎 Govt. Securities / Bonds
📝 RBI plans Rs 50,000-crore variable rate repo auction
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✈ International
📝 Deutsche Bank to pay $75 mn in Epstein victim settlement: report
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