Top Indian Banking Industry News & Updates - 20 May 2023,Saturday
🗎 RBI / MoF / Govt. Policies
📝 RBI to withdraw Rs 2,000 notes from circulation; how will it impact banks?
📝 Reserve Bank of India to transfer Rs 87,416 crore as dividend to Centre for FY23
📝 Rs 2,000 notes to be withdrawn from circulation, exchange window to be open till September 30
📝 RBI dividends to Modi’s government may double, aiding fiscal gap
📝 India's cash position to improve on RBI's larger-than-budgeted surplus transfer: source
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🏦 PSB / Pvt Banks
📝 PNB Q4 Results: PAT grows multifold to Rs 1,159 crore; NII up 30% YoY
📝 Bandhan Bank Q4 Results: Net profit plunges 58% YoY to Rs 808 crore
📝 We expect ROA of more than 1% and ROE of over 19% for next financial year: Dinesh Kumar Khara, SBI
📝 NCLT dismisses IDBI Bank's insolvency plea against Zee Entertainment
📝 Jefferies’ Chris Wood adds Axis Bank, midcap stock to India portfolio
📝 SBI’s Rs 50,000 crore FY23 PAT is first ever by any bank. Know what brokerages say
📝 Bank well poised to go forward and meet every guidance given for next eight quarters: B Ramesh Babu, Karur Vysya Bank
📝 Kotak Bank to grow affordable housing portfolio
📝 Deposit rates have not peaked yet: Bankers
📝 Q4 results preview: Bandhan Bank’s board to meet today to consider financial results
📝 Bandhan Bank crosses 3 cr customers milestone
📝 Eight PSU banks register more than 50% rise in Q4 net profit; Bank of Baroda tops the list
📝 Capital Small Finance Bank’s profit up 50%
📝 Fixed deposit interest rate: In revised FD regime, these banks give up to 9% return. Check details here
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🏠 Housing Finance
📝 Strong show. PNB Housing Finance Q4 net profit soars 65% to ₹279 crore
📝 Home loan amount: Five effective methods to maximize borrowing potential
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💳 ATMs / Credit Cards
📝 No TCS on debit card, credit card forex payments of up to Rs 7 lakh from July 1, 2023: Govt
📝 Tax waived on annual forex spends up to ₹7 lakh: Finance Ministry
📝 Credit card spends fall 3.3% in April after touching record high in March
📝 25% of new credit card issues happen on RuPay network: NPCI Rai
📝 70 per cent of new demand for SBI Card comes from tier-II and beyond towns: MD & CEO
📝 JCB partners with NPCI to offer 40% cashback for RuPay JCB cardholders
📝 The mystery of 20% TCS
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🗎 NBFCs / FIs / MFI
📝 Muthoot Finance post ₹3,474 crore net profit in FY23
📝 PTC India Financial Services Q4 net rises 46% to ₹36.40 cr
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UPIs / Wallet / FinTech
📝 ‘Small-ticket loans could give payments bank model a boost’
📝 Airtel Payments Bank’s FY23 profit rises over two-fold to Rs 21.7 cr, revenue up at Rs 1,291 cr
📝 Centre confident of UPI being an alternative to Swift payment system
📝 Why India needs more UPI apps
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Crypto
📝 Bitcoin falls below $27k, Solana, Cardano shed up to 2%
📝 Despite mass adoption of crypto, crypto market in the United States and Europe lag behind
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🗠 Mutual Funds / AMCs
📝 Sebi's move should help larger AMCs get larger share of investor-oriented direct business: Sunil Subramaniam
📝 What will be the impact of new SEBI proposals on AMCs? A Balasubramanian answers
📝 Sebi’s new proposal may lead to Rs 1,400 crore blow to mutual fund houses
📝 MF stocks hit by proposed change in TER norms
📝 AMCs see Rs 1,400-crore hit from proposal for uniform investor fee
📝 India’s capital market regulator SEBI wants standard investor fees for mutual funds
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🗎 Equities, Pvt. Equity / Hedge Funds
📝 Brookfield India REIT, GIC form partnership to acquire 2 assets in India
📝 GIC may invest Rs 1,500 crore in IRB InvIT to fund Hyderabad Ring Road project buy
📝 We are high conviction believers on the Indian consumption story : Asheesh Mohta, Blackstone
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✈ International
📝 Morgan Stanley CEO Gorman expects bank to appoint successor in 12 months
📝 ECB needs to keep interest rates 'sustainably high' to combat inflation, says Lagarde
📝 Bank of England won’t return balance sheet to pre-financial crisis levels, Bailey warns
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