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
Read More >>

🏦 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
Read More >>

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
Read More >>

🗠 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
Read More >>

🗠 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
Read More >>

🗎 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
Read More >>

🗎 Govt. Securities / Bonds

📝  RBI plans Rs 50,000-crore variable rate repo auction
Read More >>

✈ International

📝  Deutsche Bank to pay $75 mn in Epstein victim settlement: report
Read More >>


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