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
Read More >>

🏦 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
Read More >>

🏠 Housing Finance

📝  Home financiers eye bigger affordable housing pie
Read More >>

💳 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
Read More >>

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
Read More >>

🧔 Brokers / Distributors

📝  Brokerages bullish on PB Fintech, raise price targets
📝  Gallagher Insurance & Almond Solutions Collaborate for Embedded Insurance on Channelverse
Read More >>

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
Read More >>

🗠 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%
Read More >>

🗎 Equities, Pvt. Equity / Hedge Funds

📝  Carlyle to buy over 20% in Quest Global
Read More >>

🗎 Govt. Securities / Bonds

📝  India optimism soars as bond yields hit yearly low; 4 ways it impacts market, economy & sectors
Read More >>

✈ International

📝  BoE must sharpen response to big economic shocks: Bailey
Read More >>


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