Top Indian Banking Industry News & Updates - 24 May 2023,Wednesday
🗎 RBI / MoF / Govt. Policies
📝 RBI defends before Delhi HC ₹2,000 banknote exchange exercise
📝 RBI's master circular on fraud: The principle of natural justice and the conundrum for banks
📝 Banks prepare for note mobilization but see no rush at branches
📝 High-value notes prone to be misused: Finance secretary
📝 Indian banks in good shape, but early to call it too good: N S Vishwanathan
📝 RBI holds conference for directors on boards of Public Sector Banks
📝 Rs 2000 note withdrawal: RBI governor Shaktikanta Das meets Nirmala Sitharaman in New Delhi
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🏦 PSB / Pvt Banks
📝 Withdrawal of Rs 2000 to have favourable impact on deposits, interest rates: SBI study
📝 Indian banks are set for a profit boost on Rs 2000 notes withdrawal
📝 A public-private divide on day 1 of Rs 2,000 note exchange
📝 Aadhar or ID cards are not required for exchanging Rs 2,000 notes
📝 Costlier retail loans subsidising advances to corporate borrowers
📝 Dhanlaxmi Bank registers 62% increase in Q4 net profit at ₹38.17 crore
📝 12% to 13% growth will come from the RAM sector: Atul Kumar Goel, PNB
📝 ₹2,000 notes reach banks amid hiccups
📝 Senior citizens FD rates: This bank hiked interest rates up to 8.85% on 1000 days to 1500 days tenure
📝 Individuals exchanging Rs 2000 notes nudged to open bank accounts
📝 Post offices barred from exchanging Rs 2,000 notes, can accept deposits
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🏠 Housing Finance
📝 Home financiers eye bigger affordable housing pie
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💳 ATMs / Credit Cards
📝 Should you opt for an increased credit card limit offer?
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🗎 NBFCs / FIs / MFI
📝 At Rs 10,000 crore, Anil Ambani's Reliance Capital recovery may be only 43%
📝 How Muthoot Finance is facing banks’ challenge in gold loans and diversifying into non-gold loans
📝 Edelweiss ARC looks to raise Rs 650 crore through NCDs
📝 Tata Motors Finance opens IT Centre in Pune
📝 NBFC-MFI Fusion Micro Finance sees 17x growth in FY23 PAT; GNPAs improve to 3.46%
📝 Muthoot Capital Services reports Q4 net at Rs 25.96 crore
📝 TVS Capital Funds elevates Gaurav Sekhri as partner
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UPIs / Wallet / FinTech
📝 Google Pay launches RuPay credit cards support on UPI in India
📝 Paytm launches UPI SDK to enable customers pay directly within the merchant app
📝 UPI effect: Average ATM visits halve to 8 times a year
📝 Kiwi: Revolutionising credit with UPI and RuPay cards
📝 SaaS platform Actyv.ai partners with Unity Small Finance Bank for BNPL offering to SMBs
📝 Paytm Payments Bank gets RBI nod to re-appoint Vijay Shekhar as part- time chair for a year
📝 Digital India Act to curb high-risk AI, enable startup innovation: Centre
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🧔 Brokers / Distributors
📝 Brokerages bullish on PB Fintech, raise price targets
📝 Gallagher Insurance & Almond Solutions Collaborate for Embedded Insurance on Channelverse
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Crypto
📝 CoinDCX launches decentralised finance wallet Okto
📝 Hong Kong regulator to issue crypto licences with retail investor guardrails
📝 Bitcoin of America to ban illegal crypto ATMs in Connecticut
📝 Bitget announces ‘India Learns Crypto’ roadshow to increase crypto trading awareness
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🗠 Mutual Funds / AMCs
📝 Kotak Mutual Fund launches Nifty 200 Momentum 30 Index Fund
📝 Additional liquidity can be positive for near-term banking liquidity, favourable for rates: Axis MF
📝 Expect rate cut in next 1 year; 10-year bond yields to start rallying: Devang Shah, Axis MF
📝 UTI Mutual Fund launches UTI S&P BSE Housing Index Fund
📝 Share of passive plans in MF pie zooms to 16.5%
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🗎 Equities, Pvt. Equity / Hedge Funds
📝 Carlyle to buy over 20% in Quest Global
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🗎 Govt. Securities / Bonds
📝 India optimism soars as bond yields hit yearly low; 4 ways it impacts market, economy & sectors
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✈ International
📝 BoE must sharpen response to big economic shocks: Bailey
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